Azerion publishes Interim Unaudited Financial Results Q3 2024 and Year to Date Q3 2024

Nov 19, 2024 at 6:00 AM
**Title: "Azerion's Q3 2024 Financial Success: Revenue Growth and Strategic Moves"**Keywords:- Azerion Group N.V.- Q3 2024 Financial Results- Revenue Growth- Strategic PartnershipsOutline:- Introduction- CEO's Message- Financial Overview- Platform Segment- Premium Games Segment- OutlookIntroduction:In Q3 2024, Azerion Group N.V. not only witnessed a significant increase in revenues but also continued to enhance and expand its portfolio of clients, technologies, and partnerships. Favorable market conditions present opportunities for continued growth into 2025. "Discover Azerion's Q3 2024 Triumph: Revenue Leaps and Strategic Gains"H1: Azerion's Q3 2024 Financial Success: Revenue Growth and Strategic MovesH2: CEO's MessageWe are delighted with the performance of our business model during Q3. The Platform and Premium Games segments achieved over 20% revenue growth compared to the same period last year, excluding the divested social card games portfolio. We strengthened local connections with advertisers and publishers, delivering innovation through our product and technology roadmap. We invested in cookieless solutions through the partnership with Captify and expanded our inventory in emerging channels. In November, we announced the acquisition of Goldbach Austria GMBH, opening new doors for growth and innovation.H3: Financial OverviewRevenue in Q3 2024 reached €124.8 million, up 22.6% from Q3 2023 (excluding the divested portfolio), driven by higher advertising spend. YTD Q3 2024 revenue was €383.2 million, up 21.7%. Adjusted EBITDA for Q3 was €17.7 million, an increase of 9.3%, while the operating profit was €0.1 million. YTD Q3 2024 adjusted EBITDA was €45.0 million, an increase of 25.7%. Cash flow from operating activities was an outflow of €(11.4) million, while cash flow from investing activities was an inflow of €2.0 million and from financing activities was an inflow of €45.9 million.H3: Platform SegmentOur Platform segment includes digital advertising, AAA Game Distribution, Casual Game Distribution, and Azerion Sports. In Q3 2024, it generated €110.9 million in revenue, a 22.1% increase from Q3 2023. Key business highlights include expanded DOOH advertising, launched Generative AI Contextual solution, enhanced Demand Side Platform, improved programmatic open auction capabilities for audio, and brought more brand safety. Platform Operating Loss was €(0.9) million in Q3 2024 compared to a profit of €4.0 million in Q3 2023. Total Platform Adjusted EBITDA was €13.1 million in Q3 2024. The Average Digital Ads Sold per Month increased to 12.6 billion, and the Average Gross Revenue per Million Processed Ad Requests was €23.4.H3: Premium Games SegmentFrom Q4 2023, the Premium Games segment consists of social casino and metaverse games. In Q3 2024, it generated €13.9 million in revenue (excluding social card games), a 26.4% increase. Key business highlights include partnering with Everi, test-launching a new mobile application, and creating new immersive quests. Adjusted EBITDA was €4.6 million in Q3 2024, an increase of 70.4%. The Average Time in Game per Day increased by 6%, and the Average Daily Active Users decreased by 5%. The Average Revenue per Daily Active User increased by 30%.H2: OutlookThe guidance remains unchanged. Adjusted EBITDA for full year 2024 is expected to be in the range of approximately €75 million to €80 million, with an annual adjusted EBITDA margin of 14% to 16% in the medium term. With favorable market dynamics, Azerion sees opportunities for further growth through strategic partnerships and acquisitions. It has mandated Pareto Securities AB and Arctic Securities AB to conduct investor meetings and may issue a Subsequent Bond. Proceeds will be used for general corporate purposes.In conclusion, Azerion's Q3 2024 performance showcases its ability to drive revenue growth and execute strategic initiatives, positioning the company for continued success in the future.