Quarterly Financial Data Unveiled by Bragg Gaming
Bragg Gaming Group, a leading iGaming services and media provider, has published its financial review for the second quarter of 2022, revealing a significant improvement in the company's financial position.
According to the review, Bragg Gaming Group has experienced a turnaround in its financial performance, with a shift from a net loss to a net income of 90 thousand euros. This marks a stark contrast to the same period last year, when the company reported a net loss of over 2.3 million euros.
The CEO of Bragg Gaming Group, Matevz Mazij, who has recently led the company to positive results, attributes the jump in profit to lower transactional fees and higher gross profits. The gross profit of Bragg Gaming Group increased from 7 million euros last year to over 11.5 million euros this year, representing an over 65% increase. The gross profit margin also grew by a bit over 10%, from 45% to almost 56%.
The financial review further demonstrates that Bragg Gaming Group expects to further increase their revenue and generate up to 80 million euros by the end of the year. The adjusted earnings before taxes, interest, and depreciation also saw a large spike, growing from almost 2 million to a bit over 3 million.
The financial position of Bragg Gaming Group for the second quarter of 2022 indicates a recovery in their financial performance compared to the same period last year. The corporation's net income for the second quarter of 2022 marks a significant improvement from the previous year's loss. The financial review for the second quarter of 2022 suggests that Bragg Gaming Group has achieved a positive financial position for the company in 2022.
In summary, Bragg Gaming Group's financial review for the second quarter of 2022 indicates a reversal of the financial loss experienced in the same period last year, with a significant change in their financial status compared to the same period in 2021. The company expects to continue this positive trend and generate up to 80 million euros by the end of the year.
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