Gentoo Media Projects Record-Breaking Q3 Revenue for 2024

Gentoo Media, a major player in the iGaming sector, has released a trading update forecasting exceptional results for the third quarter of 2024. The company anticipates Q3 revenues to reach approximately EUR 30.4 million, with an EBITDA margin expected to settle between 46% and 48%. This would represent the 15th consecutive quarter of record-high earnings for Gentoo Media, reinforcing its track record of consistent financial performance.

Despite ongoing market fluctuations, Gentoo Media remains steadfast in its full-year 2024 guidance. The company is on track to meet its projected annual revenue of EUR 125-135 million, with an EBITDA margin target between 45% and 50%. CEO Jonas Warrer expressed confidence in the outlook, attributing the sustained success to the company’s strategic focus on sustainable growth, anchored by revenue-sharing agreements and disciplined market management.

In the final quarter, Gentoo expects its revenue trajectory to benefit from typical casino seasonality, alongside the impact of new initiatives launched throughout the year. The company’s management foresees growth opportunities in the expanding iGaming sector and is prepared to leverage these seasonal trends to achieve continued gains.

Strong Leadership Focused on Sustainable Growth

Jonas Warrer, Gentoo Media’s CEO, attributed the company’s ongoing success to its long-term approach to growth and strategic focus. “We are pleased to deliver our 15th consecutive all-time high quarter, which reflects the strong foundation we’ve built over the past five years,” Warrer noted. He emphasized that Gentoo Media’s deliberate strategy to prioritize sustainable growth through revenue sharing, along with a measured and disciplined approach, has consistently produced positive outcomes.

Warrer highlighted that Gentoo’s focus on organic growth and diverse offerings has enabled the company to adapt to changing market conditions. “Our commitment to organic growth and diversity has proven resilient as we adapt to shifting market conditions. We look forward to building on this momentum as we remain well-positioned to thrive in a dynamic market with a long-term vision of continued success,” he added.

Chairman Mikael Harstad echoed these sentiments, stating, “Our long-term strategy of steady, diversified growth has proven successful as we celebrate another record-breaking quarter.” He emphasized the effectiveness of Gentoo’s revenue-sharing model, which has allowed the company to maintain stable progress even in volatile markets. Harstad expressed confidence in the company’s continued competitive advantage, adding, “The results speak for themselves — our strategy is working, and we’re confident it will keep giving us a competitive edge.”

Q3 2024 Revenue Guidance and Full-Year Targets

In its Q3 forecast, Gentoo Media projects an estimated EUR 30.4 million in revenue, driven by factors such as increased casino seasonality and strategic initiatives. This quarter’s revenue expectations reflect a steady growth trajectory that aligns with Gentoo Media’s full-year revenue guidance, which aims for EUR 125-135 million. The company’s anticipated EBITDA margin of 45% to 50% underscores its focus on profitability as well as revenue expansion.

Gentoo’s Q2 results further underscore the company’s impressive growth pattern. During Q2, Gentoo Media posted EUR 30.3 million in revenue, a year-on-year increase of 39%, with an EBITDA margin reaching 48.7%. This followed a robust year-on-year improvement in EBITDA, which rose by 43% to EUR 14.8 million. These Q2 results further reflect the effectiveness of Gentoo’s strategy in maintaining strong growth within the competitive iGaming sector.

In contrast, Gaming Innovation Group (revenue from its Platform & Sportsbook division, reporting EUR 7.3 million in earnings—a 21% year-on-year drop. This division saw an adjusted EBITDA loss of EUR 1.6 million, underscoring Gentoo Media’s comparatively successful strategy in the broader iGaming landscape.

Gentoo Media’s management team anticipates a significant uptick in activity for the final quarter of 2024, driven by the traditionally high casino seasonality and additional momentum from recent initiatives. The company remains focused on leveraging its diversified revenue model to enhance competitiveness and sustain growth through the coming quarter and beyond.

As Gentoo Media prepares to release its complete Q3 2024 Interim Report on November 13, 2024, the company’s executives remain confident in their strategy. With a firm commitment to disciplined growth and a diverse portfolio of revenue-sharing agreements, Gentoo Media aims to continue its upward trajectory within the dynamic and evolving iGaming market.

Source:

”Gentoo Media – Trading update for Q3-2024”, gentoomedia.com, October 25, 2024.