Supplier NeoGames has announced its financial results for the fourth quarter. The company’s revenue totaled $69.2m during Q4 2022 compared to $12.3m during the fourth quarter of 2021. The rise was so significant mainly due to mergers and acquisitions.
Its combined total of revenue and share in net profit interest (NPI) revenues was $83.2m. NeoGames’ share in NPI revenues was $14m, which was a bump of 54.4% year-over-year.
Its iLottery revenue plus its share of NPI revenues during Q4 2022 was $28.4m, which set a company quarterly record. It was up 33.4% annually and rose 16.9% from Q3 2022.
There were positive results in other areas of the financial report. The iGaming company’s net loss was $0.8m, which was a 77% decrease from its net losses of $3.6m in Q4 of 2021.
NeoGames CEO Moti Malul commented: “We are proud of the tremendous progress we made during 2022, further solidifying our iLottery leadership position in a continually expanding market. A record year in iLottery was punctuated with another record quarter. In addition, we made some truly transformational strides in advancing our strategic goals.
“We significantly evolved our business through our acquisition of Aspire Global, expanding beyond our position as a leader in global iLottery solutions.
"We ended the year by growing our iLottery revenue by 33% during the fourth quarter, and our iGaming revenue by 27%. During 2022, we grew revenue across all business lines and we believe that we remain well-positioned to continue to deliver profitable growth into 2023 and beyond.”