Aspire Global posts 14.7% uptick in Q4 2021 revenue
CEO Tsachi Maimon says supplier “well exceeded” its financial targets as full-year 2021 revenue surged 32%
Aspire Global has posted a year-on-year (YoY) Q4 revenue rise of 14.7% following the divestment of its B2C arm.
Revenue came in at €50.9m (£42.5m), up from the €44.4m achieved in Q4 2020.
The firm recorded record-high revenue for its B2B section of the business as it increased by 24.4% to €41.1m.
Across the company’s B2B sub-sections, revenue in Aspire Core, Pariplay and BtoBet jumped 18.9%, 44.2% and 60.1%, respectively. Those figures amounted to €29.9m for Aspire Core, €8.3m for Pariplay and €3.5m for BtoBet.
However, the B2C portion of the business tumbled 17% to €11.8m.
Despite the B2B increases, performance was hindered by new European regulations and “unusually unfavourable” sporting results in October.
When breaking down the numbers by region, income from the Nordics increased by 8.1% to €4m, while income from the UK and Ireland soared by 89.2% to a record €21.1m.
The picture in the rest of Europe was not quite as positive due to the aforementioned change in regulations. In certain areas, revenue dropped 25.1% to €18.3m, with the ‘rest of the world’ increasing 46.7% to €7.5m, mainly due to the expansion in the Americas and Africa.
Group-wide EBITDA during Q4 decreased by 9.1% to €7.5m, due to the negative contribution from the B2C portion, in addition to the unfavourable player results in sports.
Aspire also detailed its full-year financial results, reporting a 31.8% uptick in revenue to reach €213.3m compared to €161.9m in 2020.
Commenting on the results, Aspire Global CEO Tsachi Maimon said: “These are record high numbers that we are proud of, and they reflect the professionalism, drive and commitment of the Aspire Global team. It is also with satisfaction that I can note that we have well exceeded our financial targets for 2021.”
Going forward into 2022, Aspire Global has agreed to a cash-plus-shares deal with NeoGames. Following the publication of these results, Aspire reaffirmed that the buyout forms a “natural next step” for a group that is “looking forward to the next step” of its journey.
At the time of writing, Stockholm-listed Aspire Global’s share price was holding steady at SEK108.4 (£8.56).