Enhanced Collaborative, a sports wagering media conglomerate, announced robust Q1 2023 financial results, achieving a 30% year-on-year revenue surge. This remarkable expansion was fueled by a 44% increase in EBITDA, reaching €33 million. The firm emphasized the robustness of its recurring revenue framework, which experienced a 75% rise compared to the corresponding period in the previous year.
This upward trajectory persisted into April, with revenue escalating by 40%. Chief Executive and co-founder Jesper Søgaard conveyed contentment with the outcomes, underscoring the organization’s capacity to sustain substantial growth following an already prosperous 2022. He noted that the transition towards a recurring revenue model within the US market further strengthens their optimistic forecast.
Notwithstanding ongoing regulatory deliberations in the UK concerning the gaming sector, Enhanced Collaborative maintains assurance that any prospective influence on their financial standing will be insignificant. In summary, the company’s strong Q1 performance and favorable outlook for the remaining year solidify their status as a dominant force within the global sports betting media arena.
At our latest investor conference, we emphasized that a significant majority (63%) of agreements finalized in February employed a revenue-sharing structure. I’m pleased to report that this upward trend persists. We’re observing especially robust expansion in the North American market, which constituted 19% of our unprecedented quarter. This accomplishment underscores that our strategic pivot toward revenue sharing is yielding positive results.”
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