Fable Media Group (FABLE) Q3 2024 earnings summary

Executive summary

• Q3 2024 revenue rose 13% year-over-year to SEK 21.7 million, with EBITDA up 34% to SEK 15.2 million and an EBITDA margin of 70%.

• Nine-month revenue increased 14% to SEK 71.5 million, EBITDA up 44% to SEK 51.0 million, and EBITDA margin reached 71%.

• Profit after tax for Q3 was SEK 12.0 million, and for the nine months SEK 22.3 million.

• Nearly all revenue is from revenue share agreements with sports betting operators, supporting high margins.

• Q3 was the second-best quarter ever for EBITDA, despite seasonal softness and lower industry betting margins.

Financial highlights

• Q3 EBIT increased to SEK 14.1 million (from SEK 10.2 million), and basic/diluted EPS was SEK 0.35 (up from SEK 0.20).

• For the nine months, EBIT was SEK 32.5 million (up from SEK 31.9 million), and EPS was SEK 0.66 (down from SEK 0.86 due to earnout revaluation costs).

• Q3 direct expenses decreased to SEK 3.1 million (from SEK 4.0 million), supporting margin expansion.

• Cash and cash equivalents at quarter-end were SEK 4.2 million, down from SEK 13.5 million a year earlier.

• Equity at quarter-end was SEK 78.2 million, with an equity ratio of 44%.

Outlook and guidance

• Full-year 2024 revenue expected at SEK 97–105 million and EBITDA at SEK 70–75 million, with an EBITDA margin of 70–74%.

• Q4 has started strong with new partnerships already generating significant player activity.