Q1 Interim Report | 3 months ended 31 March 2020
JAN – MARCH 2020 (COMPARED TO JAN – MARCH 2019)
- Revenues totalled EUR 3.76 (5.24) million, a decrease of 28%.
- Adjusted EBITDA excluding non-recurring costs totalled EUR 0.74 (1.75) million, corresponding to an adjusted EBITDA margin of 20 (33)%.
- EBITDA totalled EUR 0.56 (1.75) million, corresponding to an EBITDA margin of 15 (33)%.
- Net cash generated from operating activities was EUR 0.04 (1.05) million.
- New Depositing Customers (NDCs) totalled 16,096 (26,525).
SIGNIFICANT EVENTS DURING THE FIRST QUARTER 2020
- New Equity Investment | The Group received new equity investment of USD 0.5 million.
- Gambling.com Writing Awards | The Group was honoured with two national writing awards in the US by the Associated Press Sports Editors.
- 2021 Bond Repurchases | The Group conducted open-market bond re-purchases of EUR 4.30 million of nominal amount of the Group’s 2021 Bond resulting in a reduction in NIBD by EUR 1.43 million. The re-purchased bonds are held in treasury while the remaining EUR 11.70 million of nominal amount remains held by other entities.
- COVID-19 Pandemic | The spread of the COVID-19 virus has forced postponements or cancellations of sporting events worldwide negatively affecting sports betting volume in the short term. The Group does not expect online casino to be negatively affected. The Group published a trading update on March 30, 2020.
SIGNIFICANT EVENTS AFTER THE REPORTING PERIOD
- Colorado Approval | The Group received approval from the Colorado Limited Gaming Control Commission to provide marketing services to licensed gaming operators in the state.
- The American Gambling Awards | In view of the COVID-19 pandemic, the Group took a decision to limit the 2020 edition to an online single honorary award while a full program was postponed until 2021.
- Publication of Annual Report | The 2019 Annual Report and consolidated Financial Statements was published on April 24, 2020 and is available on the official website of the Group (www.gambling.com/corporate).
“I was pleased to see our latest round of investments in technology begin to pay off with revenues in Q1 2020 improving incrementally against Q4 2019 by 9.6%. Since November 2019 we have now seen month on month increases for 5 months straight through to April 2020. Entering the second quarter with improved search performance and reduced operating expenses we remain confident about the future prospects of the Group despite an uncertain macro environment.”
Charles Gillespie, Chief Executive
This information is information that Gambling.com Group Plc is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CET on 20 May 2020.
About Gambling.com Group Plc
Gambling.com Group Plc is an award-winning provider of digital marketing services for the global iGaming industry. Founded in 2006, the group has a workforce of more than 100 and operates from offices in Dublin, Charlotte, Tampa and Malta. The group publishes websites that offer comparisons and reviews of online gambling websites across 15 national markets in nine languages. Players use these resources to select which online gambling operators they should trust to offer a safe and honest online gambling experience. The Group’s publishing assets include the leading iGaming industry portal, Gambling.com® as well as Bookies.com and the CasinoSource℠ series of portals, among many others.