Raketech published its financial results for the final quarter of 2022, highlighting its performance. The company experienced good organic growth and recorded record-breaking revenues.
Revenues for the period sat at $16.7 million (converted to USD) thanks to the performance of Raketech’s core portfolio of affiliation marketing. Revenues from the United States increased to $2.45 million, while overall sports revenues totaled $4.5 million, or 26.7% of the company’s total revenues for the period.
Organic growth amounted to 23.1%, driven by an increase in affiliation and sub-affiliation revenues. Adjusted EBITDA, meanwhile, amounted to $6.7 million with the adjusted EBITDA margin being somewhat lower than last year at 40.3%.
Raketech’s board proposed a dividend of EUR 0.094 per share to be distributed to shareholders.
Following the publication of its Q4 results, Raketech also released details about its performance in January 2023. During the first month of the year, the company recorded revenues of $5.3 million. The company also highlighted the addendum it recently entered for the acquisition of Casumba Media. The payment is payable in installments of up to $16 million throughout 2024. Any remaining amount can be deferred up until September 16, 2026, Raketech informed readers.
Raketech Hopes to Maintain Its Momentum
Following the publishing of its 2022 results, Raketech also posted its 2023 guidance. The company’s board has decided to replace the targets with near-term guidance for revenues, EBITDA and free cash flow.
The company expects revenues of around $64-69 million in 2023, driven by strategic growth initiatives. Raketech also expects an EBITDA of around $21-$25.5, as well as operational costs of $2.1 million.
The company also noted that it expects free cash flow to increase substantially to around $12-14 million by the end of 2023.
Mühlbach Happy with the Results
Oskar Mühlbach, Raketech’s chief executive officer, commented on the results, saying that he is very satisfied with the company’s performance in Q4 2022.
Our core affiliation assets are performing according to plan or better, including those handed over to us after earn-out periods. With our diversified portfolio within Affiliation marketing, Sub-affiliation and Betting Tips & Subscriptions, we believe we are well-positioned to capture the many opportunities presented by the rapidly growing global digital gambling market.
Oskar Mühlbach, CEO, Raketech
Mühlbach added that he was very pleased to see the company’s US revenues more than double year-on-year.
In 2023, Raketech will focus on its flagship products, Mühlbach said. He noted that fewer but better consumer products will provide his company with the advantage it needs.