Slide 1: First Quarter 2023 Financial Results Call
First Quarter 2023 Financial Results Call May 18, 2023 CONFIDENTIAL & PRIVATE
Slide 2: Safe Harbor Statement
2 Safe Harbor Statement This presentation and any accompany ing oral presentation includes f orward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the saf e harbor prov isions of the
Slide 3: First Quarter Highlights
3 First Quarter Highlights (1) Represents a non-IFRS financial measure. See ”Safe Harbor Statement - Non-IFRS Financial Measures” and the tables at the end of this presentation under “Appendix: Financial Tables” for reconciliations to the comparable IFRS numbers • Total revenue grew 36% to $26.7 mil
Slide 4: First Quarter Drivers
4 First Quarter Drivers • North American revenue grew 33% to $14.1 million • Successful new market launches in Ohio and Massachusetts • UK and Ireland revenue increased 36% year over year to all-time quarterly record … again • Strength in I-casino in North America and Europe • Contribution from Bonu
Slide 5: Q1 2023 Financial Results
5 Q1 2023 Financial Results(1) (1) This table contains non-IFRS financial measures. See ”Safe Harbor Statement - Non-IFRS Financial Measures” and the tables at the end of this presentation under “Appendix: Financial Tables” for reconciliations to the comparable IFRS numbers. 2023 2022 Change Revenue
Slide 6: FY 2023 Outlook
6 FY 2023 Outlook(1) • For 2023, revenue is expected to be in the range of $95-99 million, which implies growth of 24- 29% • For 2023, Adjusted EBITDA is expected to be in the range of $33-37 million, which implies growth of 37-54% Low Midpoint High FY 2022 Revenue (millions) $95 $97 $99 $76.5 Adjus
Slide 7: Appendix: Financial Tables
7CONFIDENTIAL & PRIVATE Appendix: Financial Tables
Slide 8: Consolidated Statements of Comprehensive Income
Consolidated Statements of Comprehensive Income (Unaudited) (USD in thousands, except per share amounts) The following table details the consolidated statements of comprehensive income for the three months ended March 31, 2023 and 2022 in the Company's reporting currency and constant currency. Repor
Slide 9: Consolidated Statements of Financial Position
Consolidated Statements of Financial Position (Unaudited) (USD in thousands) MARCH 31, DECEMBER 31, 2023 2022 ASSETS Non-current assets Property and equipment 818 714 Right-of-use assets 1,728 1,818 Intangible assets 89,834 88,521 Deferred compensation cost 30 29 Deferred tax asset 5,793 5,832 Total
Slide 10: Condensed Consolidated Statements of Cash Flows
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD in thousands) Three Months Ended March 31, 2023 2022 Cash flow from operating activities Income bef ore tax 7,695 4,856 Finance expenses (income), net 463 -579 Adjustments f or non-cash items: Depreciation and amortization 545 1,826 Mo
Slide 11: Earnings Per Share
Earnings Per Share Three Months Ended March 31, Reporting Currency Change Constant Currency Change 2023 2022 % % (USD in thousands, unaudited) Net income for the period attributable to shareholders 6,595 4,487 47 % 51 % Weighted-average number of ordinary shares, basic 36,431,633 34,877,496 4 % 4 %
Slide 12: EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin Reconciliation
EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin Reconciliation Three Months Ended March 31, Reporting Currency Change Constant Currency Change 2023 2022 % % (USD in thousands, unaudited) Net income for the period attributable to shareholders 6,595 4,487 47% 51% Add back (deduct): Interest expense
Slide 13: Adjusted Net Income and Adjusted Net Income Per Share Reconciliation
13 Adjusted Net Income and Adjusted Net Income Per Share Reconciliation Three Months Ended March 31, Reporting Currency Change Constant Currency Change 2023 2022 % % (USD in thousands, except for share and per share data, unaudited) Net income for the period attributable to shareholders 6,595 4,487
Slide 14: Free Cash Flow Reconciliation
14 Free Cash Flow Reconciliation Three Months Ended March 31, Change 2023 2022 % (USD in thousands, unaudited) Cash flows generated by operating activities 7,082 3,585 98% Capital Expenditures (1) -877 -2,212 60% Free Cash Flow 6,205 1,373 352% (1) Capital Expenditures are defined as the acquisition