Angler Gaming (ANGL) Q3 2024 earnings summary

Executive summary

• Q3 2024 revenue declined 6.48% year-over-year to €9.66m, but EBIT rose 32.82% to €1.45m and net profit increased 40.29% to €731k.

• For the first nine months, revenue grew 5.26% to €30.75m, EBIT up 37.39% to €4.50m, and net profit up 18.80% to €2.24m.

• Strategic focus on cost control, B2B expansion, and investments in Marlin Media and PremierGaming, with positive operational momentum.

• ProntoSport.se launched in Sweden in late Q3, with promising initial KPIs; ProntoCasino.se revenue up 66% year-over-year.

Financial highlights

• Q3 2024 EBIT margin improved to 15.04% from 10.59% a year ago.

• Earnings per share for Q3 at €0.0098 (vs €0.0070); nine-month EPS at €0.0299 (vs €0.0252).

• Cash flow from operations increased 10.3% sequentially to €1.84m at Q3 end.

• Customer deposits in Q3 rose to €18.91m (from €18.52m), active customers up to 52,152 (from 47,832), but new depositing customers fell to 10,203 (from 16,840).

Outlook and guidance

• Early Q4 2024 trading shows average daily revenue up 1% over Q4 2023.

• Continued focus on cost control, B2B growth, and Swedish market investments; Marlin Media aims for break-even within two years.

• Dividend policy unchanged: 50%-100% of net profit available for dividend, subject to acquisitions and going concern.