Raketech eyeing accelerate growth after ‘another all-time high’

Raketech is standing firm on previously heightened full-year guidance following a strong second quarter of the year that saw revenue reach “another all-time high for the group”.

Revenue increased 56 per cent to €17.6m (2022: €11.28m) while new depositing customers swelled 72.1 per cent to 58,117 (2022: 33,776), which is aligned to a strong performance within sub-affiliation and affiliation marketing. 

The group’s affiliation marketing and sub-affiliation categories each increased to €10.32m (2022: €8m) and €6.29 (2022: €2.15m), while betting tips and subscription income slipped 6.1 per cent to €986,000 (2022: €1m).

“Revenues from affiliate marketing, our largest business area, accounting for 59 per cent of total revenue, grew by 28 per cent, primarily driven by continued strong contributions from Casumba,” stated Oskar Mühlbach, Group CEO.

“Furthermore, the sub-affiliation business area, providing SaaS solutions and club commercials to affiliates, had an exceptionally strong quarter, driven by favourable market development, with Latin America and the Nordics leading the way. 

“Revenues from betting tips and subscriptions were essentially in line with last year, somewhat impacted by currency effects. “

Per segment, casino comprised the lion’s share of revenue via a 83.7 per cent uptick to €14.25m (2022: €7.75m), with sports down 4.4 per cent to €3.35m (2022: €3.5m). 

On a geographical basis, the rest of the world segment came out of top with €8.38m (2022: 3.39m), ahead of the Nordics’ €7.21m (2022: €5.26m), the US’ €1.25m (2022: €1.34m) and the rest of Europe’s €753,000 (2022: €682,000).

Through the quarter, group-wide operating profit grew 25.2 per cent to €2.46m (2022: €1.96m), while adjusted EBITDA reached €11.58m, up 30.5 per cent from €8.87, year-on-year. 

For the year-to-date, revenue, operating profit and AEBITDA each tracked increases of 39.2 per cent, 21.7 per cent and 30.5 per cent to €33.39m (2022: €23.98m), €6.29m (2022: €5.17m) and €11.58m (2022: €8.87m), respectively. NDCs swelled 62.7 per cent to 112,751 (2022: 69,299).

Reiterating full-year guidance, revenue is expected to fall between €65m-€70m, excluding the impacts of acquisitions, while EBITDA and fresh cash flow should fall in the regions of €23-€25m and €13-€15m.

“July revenues amounted to €6.9m (2022: €3.9m), mainly driven by continued strong growth in Casumba and sub-affiliation/network,” Mühlbach added. 

“Strengthened by the recent successful development in Casumba and sub-affiliation/network, I look forward to driving progress within our strategic growth initiatives, focusing on our flagship products, accelerated US growth and AffiliationCloud. 

“In conclusion, I would like to thank our strong dedicated teams across the globe, helping our clients to stay ahead of the game.

“I am confident that we are well placed to leverage the opportunities ahead and position ourselves as the first choice in the growing igaming affiliate market.”