Raketech, a Malta-based iGaming affiliate, has reported robust financial performance in its Q3 2022 report, showcasing significant growth across key metrics. The company’s revenue, adjusted EBITDA, and operating profit have all seen substantial increases, reinforcing its position as a leading player in the dynamic iGaming affiliate landscape.
Key Financial Highlights:
Revenue Growth: Raketech’s Q3 2022 report reveals a revenue of €13.0m, reflecting a remarkable 35% year-over-year growth and a notable 15% increase compared to the previous quarter. The overall annual revenue for the year stands at €36.9m, indicating a substantial 29% growth from the same period in the previous year.
EBITDA and Operating Profit: Adjusted EBITDA has witnessed a commendable 17% year-over-year growth, reaching €4.8m in Q3 2022. The EBITDA margin stands at 37%. Operating profit has also demonstrated strong growth, increasing from €2.3m to €2.9m, representing a significant 22% growth.
Year-to-Date Performance: The cumulative performance for the year 2022 indicates a robust financial standing for Raketech. The company has reported revenue of €36.9m, showcasing a substantial 29% increase from the same period in the previous year. The adjusted EBITDA has also experienced a commendable growth of 26%, amounting to €13.8m in 2022.
CEO’s Perspective:
Oskar Mühlbach, CEO of Raketech, provided insights into the report, stating: “As expected, activity picked up during the third quarter, driven by seasonality and a continuous positive momentum within our core affiliation segment as well as additional growth from our new business segment, AffiliationCloud.”
Market Dynamics and Growth Drivers:
Despite facing regulatory challenges in the Finnish and Dutch markets, as well as tough year-over-year comparisons impacted by Covid-boosted numbers in the previous year, Raketech has achieved an impressive organic growth rate of 14%. The report attributes this growth to the positive momentum in its core affiliation segment and contributions from the AffiliationCloud business segment.
Raketech’s Q3 2022 report underscores the company’s resilience and strategic prowess in navigating challenges and capitalizing on growth opportunities. With strong financial indicators, including substantial revenue growth, increased EBITDA, and enhanced operating profit, Raketech continues to position itself as a key player in the evolving iGaming affiliate landscape. The positive trajectory observed throughout the year reaffirms the company’s commitment to sustained growth and value creation for its stakeholders.