Raketech, an affiliate marketing company, has released its Q1 2023 report, showcasing impressive financial results. The company achieved a new milestone in terms of revenue, reaching €15.8m ($17.3m), representing a 24% year-on-year increase. While facing challenges in the US market and sports betting, Raketech experienced significant growth in casino revenue and global markets. CEO Oskar Mühlbach expressed confidence in the company’s performance and maintained a positive outlook for the full year.
Record Revenue and Growth:
Raketech’s Q1 2023 results demonstrate exceptional financial performance. The company’s revenue soared to €15.8m, an all-time high and a remarkable 24% increase compared to the same period in 2022. This growth was primarily driven by the core segment of affiliation marketing, which boasts high margins and contributed significantly to the company’s success.
Profitability and Earnings:
Adjusted EBITDA rose by 20.1% to €6.1m, reflecting Raketech’s strong financial health. Operating profit also experienced a substantial increase, growing by 19.6% from €3.2m to €3.8m. These figures indicate effective cost management and operational efficiency within the organization.
Segment Performance:
While sports betting revenue experienced a decline of 123% in Q1 2023, Raketech compensated for this setback through an impressive 44% increase in casino revenue. The growth in the casino segment showcases the company’s ability to adapt and capitalize on evolving market trends. Despite challenges in one area, Raketech’s diversified portfolio allowed it to achieve overall growth and maintain a competitive position in the industry.
Global Expansion:
Raketech’s revenue from the US suffered a 22% decrease, primarily attributed to an unfavorable outcome in sport betting predictions related to the US-focused subscription offering. However, the company saw a substantial 80% increase in revenue from the rest of the world. This global expansion indicates Raketech’s successful penetration into new markets and diversification beyond its traditional focus.
CEO’s Perspective:
Raketech’s CEO, Oskar Mühlbach, expressed satisfaction with the company’s strong start in 2023. He highlighted the record-breaking revenue of €15.8m and emphasized that the growth was primarily driven by the high-margin affiliation marketing segment. Mühlbach’s confidence in the company’s performance reflects the successful execution of their strategies and positions Raketech for continued success throughout the year.
Raketech’s Q1 2023 report underscores its exceptional performance, marked by record revenue and robust growth. Despite challenges in the US market and sports betting, the company achieved remarkable results driven by the affiliation marketing segment and increased casino revenue. Raketech’s global expansion efforts yielded positive outcomes, with substantial revenue growth observed outside the US. With a solid start to the year and positive market prospects, Raketech remains optimistic about meeting its full-year guidance.