Aspire Global reports strong growth across B2B and B2C channels in Q3

Aspire Global reports strong growth across B2B and B2C channels in Q3

Friday, November 9, 2018 Posted by News Team
Finance
Revenue growth matched by strong increase in profits

iGaming platform provider Aspire Global has talked up its future growth prospects after reporting a 48% increase in revenue for the quarter ended September 30th. 

Group revenue grew to €28.6m, with a €15.2m contribution from the company’s B2B division (up 51% year-on-year) complemented by a 44% increase from the B2C arm to €13.4m. 

Total deposits made via the B2B platform jumped 54% to €28.8m, with first-time depositors rising to 56,300. B2C, meanwhile, saw deposits rise to €25.8m thanks to a 44% increase in first-time depositors to 40,300. 

Aspire noted that sports revenue grew to more than 10% of total B2C revenue. This, it said, suggested that the strong sportsbook performance seen in Q2 was not a one-off event resulting from the World Cup, and that it had the right infrastructure to grow in the vertical. 

This was reflected in BetRegal, a sportsbook-led operator, migrating to the Aspire platform in October, after the end of the quarter. 

Earnings before interest, tax, depreciation and amortisation also grew strongly in Q3, rising 48% to €6.2m. 

“Aspire Global developed strongly during the third quarter, as we have been doing consistently during the past year as a result of our growth strategy,” Aspire chief executive Tsachi Maimon said. “We see that revenues continue to reach record levels, but more importantly – profitability keeps up with the high pace.”

Operating income for the quarter amounted to €5.7m, with net income up 41% to €4.8m for the quarter. 

For the nine months of 2018 to date, Aspire Global saw revenue grow 36% to €71.7m, with EBITDA rising 40% to €14.6m. 

Maimon noted that the company now expected to meet its financial targets set for 2020, such as growing revenue to €120m, in 2019. As a result the board would revise its targets upwards. 

During the fourth quarter, the company aims to launch between two and four brands on its platform, and is also exploring additional M&A opportunities.

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