Bragg Gaming Group Inc. · TSX:BRAG
Bragg Gaming — FY2022 Earnings Presentation
21 slides from Bragg Gaming's earnings presentation, March 2023
Slide 1: Fourth Quarter & Full Year 2022 Results Presentation
Fourth Quarter & Full Year 2022 Results Presentation March 2023 NASDAQ: BRAG | TSX: BRAG
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") which are based upon Bragg Gaming Group Inc.'s (the "Bragg") current internal expectations, estimates, projections, assumptions an
Slide 3: Table of Contents
Table of Contents • Operational and Strategic Highlights • Financials & Guidance 4Q & FY 2022 • Operational Review • Outlook & Summary 3
Slide 4: Bragg in 2022: Growth & Transformation
Bragg in 2022: Growth & Transformation Global expansion of the organization set to continue in 2023 Mission Vision To disrupt iGaming with performance-driven, To be a profitable, must-have iGaming safe and entertaining products, developed and content and solution provider delivered through innovativ
Slide 5: Operational and Strategic Highlights
Operational and Strategic Highlights Our priorities and milestones since the beginning of 2022 U.S. Content Regulated Market Product & Tech Market Entry Focus Footprint Spin Games acquisition closed Game development ramp-up Established Markets PAM scale & features U.S. Market Entry on June 1 62 titl
Slide 6: Financials & Guidance
Financials & Guidance G6)
Slide 7: Fourth Quarter & Full Year 2022 Financial Results
Fourth Quarter & Full Year 2022 Financial Results 4Q & FY22 Financial Highlights Historical Financial Overview • Revenue increased by 50.3% to EUR 23.7m with full year Revenue (EUR,m) Wagering1 (EUR,b) growth of 45.3% reaching EUR 84.7m 23.7 20.8 20.9 5.1 19.4 4.6 • Wagering1 generated by Bragg’s cu
Slide 8: Quarterly Revenue Performance
Quarterly Revenue Performance 4Q22 Financial Highlights Bragg Quarterly Revenue (EUR,m) • Consistent quarterly growth since 3Q21 with 13.4% increase from 3Q22 and 50.3% from previous year Quarterly Revenue Growth 13.4% • Key drivers for the 4Q22 outperformance vs 3Q21 25.0 (1) New launches of PAM an
Slide 9: Fourth Quarter 2022 Product Mix
Fourth Quarter 2022 Product Mix 4Q22 Gross profit margins Product Mix Continues to Evolve 12.9m 15.8m 19.3m 20.8m 20.9m 23.7m • Gross profit margins are in a growing trajectory since 3Q21 due to the shift in Bragg product mix 100% 8.8% 7.1% 7.4% 9.0% 9.8% 9.8% • Gross profit increased by 61.6% to EU
Slide 10: Fourth Quarter & Full Year 2022 Adjusted EBITDA Reconciliation
Fourth Quarter & Full Year 2022 Adjusted EBITDA Reconciliation Reconciliation Operating Income (Loss) to Adj. EBITDA Three Months Ended December 31, Year Ended December 31, EUR 000 2022 2021 2022 2021 Operating income (loss) 162 (1,841) (828) (6,346) Depreciation and amortization 2,520 1,577 8,454 4
Slide 11: Working Capital and Balance Sheet
Working Capital and Balance Sheet Balance Sheet and Net Working Capital Cash Flow and Financial Resources As at As at Year Ended December 31, December 31, December 31, EUR 000 2022 2021 EUR 000 2022 2021 Operating activities 5,753 115 Cash and cash equivalents 11,287 16,006 Investing activities (16,
Slide 12: 2023 Guidance
2023 Guidance Strong current trading in 2023 - continued positive momentum from 4Q22 Revenue Guidance Introducing 2023 revenue guidance of EUR 93 - 97 million ; midpoint implies 12% growth from 2022 levels Adjusted EBITDA1 guidance Introducing 2023 Adjusted EBITDA1 guidance of EUR 14.5 – 16.5 millio
Slide 13: Business & Operational Updates
Business & Operational Updates 13
Slide 14: Bragg: Partnering with the Best in the Industry
Bragg: Partnering with the Best in the Industry Continued development of Bragg ecosystem since the beginning of 2022 CONTENT PARTNERS OPERATING PARTNERS TURNKEY PARTNERS 14
Slide 15: Content Releases in 2022
Content Releases in 2022 We released 43 distinct titles during the year1, with 20 from Bragg Studios brands 1. 43 distinct titles globally. In Europe we released 41 titles including 14 from Bragg Studios; in North America we released 18 titles including 14 from Bragg Studios. 15
Slide 16: Bragg RGS Content Performance
Bragg RGS Content Performance Two new Bragg Studios brands rolled out during 2022 Bragg RGS Content Gross Profit in 2022 • Increased development and deployment of Bragg RGS content, new 30% customers and market expansion is driving increased Gross Profit Bragg Studios (+73% from Bragg RGS Content be
Slide 17: Content Rollout in the United States
Content Rollout in the United States We’re executing against our strategy; strong content roadmap sets foundations for continued growth in 2023 NEW CONTENT WITH TOP U.S. UNPARALLELED LAUNCHED OPERATORS CONTENT ROADMAP 17
Slide 18: Bragg's Key Markets
Bragg’s Key Markets We continue to grow our footprint in new markets, while fortifying our position in existing ones Established The Netherlands Switzerland Expanding UK New Jersey Pennsylvania Michigan Ontario Connecticut Portugal Spain Belgium New Horizons Italy Germany Czech Republic Denmark Swed
Slide 19: Outlook & Summary
Outlook & Summary 19
Slide 20: Outlook & Summary
Outlook & Summary 1 Record revenue and AEBIDTA in 2022 fourth quarter and full year 2 Execution against company content-led strategy progressing well 3 Encouraging initial results from U.S. and European proprietary content rollout 4 Successful new market entries alongside expansion in existing marke
Slide 21: Thank you
Thank you @ BRAGG