During the first quarter of 2017, the
company signed 11 new agreements for OGS and OPS and successfully launched OGS
content across six new client sites including Pokerstars Denmark, Rush Street,
Nederlandse Loterij, MarathonBet, Luckia
and GVC Holdings.
For Q1 2017, the company reported revenue of US$ 58.9 million,
representing growth of 199.8 % year-over-year. Royalty and licence revenue was US$
30.9 million, representing growth of 77.9 % year-over-year, with gross profit
of US$ 52.1 million, or 88.4 % of revenue compared to 82.7 % of revenue in Q1
2016.
Adjusted EBITDA increased by 250.1 % to US$ 16.8 million.
"With our new operating model in place, we're pleased to report growth in revenue and adjusted EBITDA from the prior quarter and the prior year period," said Matt Davey, chief executive officer of the company.
"Our customer development pipeline remains strong and we are focused on profitable growth through our product led strategy with targeted R&D investment in sportsbook, gaming and content technologies," Davey added.
Source: GMB / InterGame Online
