Raketech recorded impressive, across-the-board growth for the third quarter of 2018, including a 42.3% revenue increase, 28.6% organic growth and an adjusted EBITDA increase of 45.2% compared to the year previous.
Revenue came in at €7 million (€4.9 million), EBITDA at €4.1 million (€2.8 million), while adjusted operating profit for the period amounted to €3.7 million (€2.6 million).
Raketech also reinforced its Swedish affiliate marketing efforts during the period by confirming a new partnership with ethical gaming council Sper. While in the months since, the firm has been busy launching betting community Urheiluveikkaus.com, a platform dedicated to providing high-quality sports betting content and betting tips to the Finnish market.
Raketech CEO Michael Holmberg commented on the results: “I am happy to announce another quarter with strong growth and high profitability, driven by our clear focus on organic growth. Revenues for the third quarter amounted to EUR 7.0 million, an increase of 42 percent compared to the corresponding quarter last year.
“The organic revenue growth amounted to 29 percent. Growth compared to the second quarter was 16 percent. Adjusted EBITDA amounted to EUR 4.1 million, corresponding to an EBITDA margin of 59 percent.
“The strong organic growth was achieved by our strategy to capitalise on our existing assets (which we refer to as Raketech Core). Over the past couple of years, we have invested in building a scalable business model. We have developed new technical platforms and data analysis tools, and we see it starting to pay off.
“With this foundation, we are not only well-equipped to grow our existing products in Raketech Core, but we are also in an excellent position to innovate and roll out new products from Raketech Lab (new innovative services built in-house or via partnerships).
“We are well prepared for the upcoming regulation of the Swedish gaming market and I am confident that Raketech will maintain a strong position in Sweden when regulation comes into effect on 1 January 2019. We have re-negotiated terms with our partners and secured new partnerships with large gaming operators entering the Swedish market for the first time.”