Bragg Gaming reports Q2 EPS (EUR 0.10) vs. EUR 0.02 last year

Reports Q2 revenue EUR 24.9M vs. EUR 24.7M last year. Matev Mazij, Chief Executive Officer for Bragg, commented: “In the second quarter, we delivered revenues of EUR 24.9 million (USD 26.6 million), a new quarterly record and increase of 0.5% year over year, reflecting a robust business performance diversified over several growing iGaming markets and in-demand product verticals. As expected, gross profit and adjusted EBITDA were down 10.3% and 23.8% year over year respectively, as our product mix has changed. However, I am encouraged by recent momentum for our higher margin products including for our proprietary iGaming content in North America, and from launches of new customers powered by Bragg’s Player Account Management (“PAM”) and turnkey solutions. I am also pleased with sequential growth in revenue (+4.4%), gross profit (+4.4%) and Adjusted EBITDA (+6.0%) compared to the first quarter of the year, a timeframe during which our product mix has remained consistent, and I am confident that we have the products, the strategy and the expertise in place to be able to continue to grow our revenues and profit margins in the second half of the year and into 2025.”