Raketech, a major participant in the iGaming affiliate sector, has released its financial results for the second quarter of 2023, demonstrating amazing development and a string of outstanding accomplishments. The company’s Q2 2023 results surpassed expectations, marking a critical milestone in its continuous industry journey.
The second quarter of 2023 proved to be a watershed moment for Raketech, as the firm generated an unprecedented total revenue of EUR 17.6 million, a significant increase over the previous year’s EUR 11.3 million. This remarkable performance amounts to a 56% organic growth rate, showing the company’s dynamic and substantial market position.
Raketech’s many income streams were critical to its Q2 performance. The Sub-affiliation/Network sector expanded rapidly, supported by the constant rise of the high-margin Affiliation Marketing segment. The latter was strengthened in particular by Casumba’s ongoing excellent contributions, further consolidating Raketech’s market position.
Despite its overall stellar result, Raketech faced a little setback in its Betting Tips & Subscriptions income, which fell 6%. This drop, however, is consistent with last year’s data and can be attributable to currency impacts.
The company’s EBITDA increased by 45% year on year (Y/Y), hitting EUR 5.5 million during the quarter. Casumba’s great performance had a significant impact on this increase, confirming the favorable impact of strategic decisions.
Raketech’s Annual General Meeting (AGM) demonstrated its commitment to shareholders, approving a dividend distribution corresponding to EUR 0.094 per share. Subsequent to the reported period, July 2023 recorded revenues of EUR 6.9 million, further cementing the company’s ongoing success.
Raketech’s CEO, Oskar Mühlbach, expressed his satisfaction with the company’s performance during the second quarter of 2023. He highlighted the significance of achieving an all-time high revenue of EUR 17.6 million, corresponding to an organic growth rate of 56%. Mühlbach emphasized the role of Sub-affiliation/Network and Affiliation Marketing in driving growth, ultimately resulting in an EBITDA increase of 45% Y/Y.
Mühlbach expressed confidence in Raketech’s upgraded full-year guidance for 2023, anticipating revenues ranging between EUR 65-70 million, EBITDA between EUR 23-25 million, and free cash flow increasing to EUR 13-15 million. He commended the contribution of Affiliation Marketing, constituting 59% of total revenue, which saw a growth of 28%, largely attributed to Casumba.
With a strategic focus on flagship products, accelerated growth in the US, and the advancement of AffiliationCloud, Mühlbach highlighted the company’s intent to capitalize on its strong position within the iGaming affiliation market. He underscored the company’s dedication to maintaining its position as a frontrunner in the industry.
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