Raketech generates record revenue with 56% YoY increase in Q2
Affiliate posts €17.6m in revenue for the period as it points to sub-affiliation division and US growth
Raketech has posted record revenue of €17.6m for Q2 2023 as the group’s sub-affiliation division continues to improve.
Total group revenue jumped 56% year on year (YoY) from Q2 2022’s €11.3m, with the sub-affiliation arm reporting a revenue increase of 191.8%.
The division’s revenue increased from €2.2m to €6.3m as it represented 35.8% of total group revenue compared to just 19.1% in Q2 2022.
The firm’s affiliation marketing arm saw revenue jump 27.8% from €8.1m to €10.3m, although its share of total group revenue slipped from 71.6% to 58.6%.
Elsewhere, Raketech’s betting tips and subscription revenue dipped 6.1% to €986,000.
EBITDA increased 44.6% from €3.8m to €5.5m although EBITDA margin fell from 33.6% to 31.1%, while operating profit rose 25.2% from €2m to €2.5m.
Looking at revenue from a vertical perspective, casino strengthened its position as the dominant arm with €14.3m in revenue corresponding to 81% of total group revenue.
Sports accounted for 19% of revenue after returning €3.4m in Q2.
Elsewhere, new depositing customers soared 72.1% from 33,776 to 58,117.
Raketech noted July revenue amounted to €6.9m as the sub-affiliation arm continued its strong Q2.
Oskar Mühlbach, Raketech CEO, said: “Strengthened by the recent successful development in Casumba and sub-affiliation, I look forward to driving progress within our strategic growth initiatives, focusing on our flagship products, accelerated US growth and AffiliationCloud.
“In conclusion, I would like to thank our strong dedicated teams across the globe, helping our clients to stay ahead of the game. I am confident that we are well-placed to leverage the opportunities ahead and position ourselves as the first choice in the growing igaming affiliation market,” he added.