Aspire Global records 42.6% annual revenue rise in Q1 2021
Malta-based firm continues to target US market as EBITDA and profit both grow significantly
Aspire Global has posted a 42.6% year-on-year (YoY) increase in Q1 2021 revenue.
The Malta-headquartered firm saw revenue increase from €33.7m in Q1 2020 to €48.1m in Q1 2021, with the acquired BtoBet business helping to drive growth by adding €2.4m in Q1 revenue.
The group’s EBITDA increased 64.2% YoY from €5.2m to €8.6m, while post-tax earnings leapt 140% from €2.5m to €6.1m.
Geographically, Aspire Global’s revenue share from the Nordics decreased by 20% to €3.6m, but saw revenue from its other operational regions jump.
Revenue from the UK and Ireland grew 142% YoY to €14.3m, while the rest of Europe saw revenue jump 13% to €24.5m.
The rest of the world, which includes the US, saw revenue rocket 256% YoY to €5.7m.
Post-reporting period, Aspire Global put pen to paper on an agreement with GAN which will see the firm expand its presence in three states via its Pariplay subsidiary.
Following the announcement of the Q1 2021 financial results, Aspire Global confirmed it had set a full-year revenue target of €200m and a full-year EBITDA target of €32m.
Tsachi Maimon, Aspire Global CEO, said: “We see tremendous growth opportunities for Aspire Global. With our complete igaming offering, we will target both new customers and broaden our presence with existing partners.
“We have proven our ability to gain tier 1 operators as customers with names such as Rush Street Interactive, Betfair, William Hill and 888casino. The strategy to grow in regulated markets is proven efficient, and we will continue to license our offering in more regulated markets and enter new markets,” he added.