Bragg Gaming releases Q2 financial results

  • Wednesday 10 August, 2022
Bragg Gaming releases Q2 financial results

Bragg Gaming has released their financial analysis of the second quarter of the year.

The iGaming services and media provider Bragg Gaming Group has recently published its financial review detailing the second quarter of 2022. The analysis saw the company get back into the positive with a net income of 90 thousand euros, as opposed to the over 2.3 million euro loss of the same period last year.

Furthermore, the group recorded a gross profit increase from 7 million euros last year to over 11.5 million this year, which is an over 65% increase. The gross profit margin grew by a bit over 10%, from 45% to almost 56%. Adjusted earnings before taxes, interest and depreciation also saw a large spike, growing from almost 2 million to a bit over 3 million.

The corporation believes this jump happened because of lower transactional fees and higher gross profits. Additionally, they expect to further increase their revenue and generate up to 80 million euros by the end of the year.