Gambling.com Group Limited · NASDAQ:GAMB
Gambling.com — Q2 2022 Earnings Presentation
19 slides from Gambling.com's earnings presentation, Aug 29, 2022
Slide 1: Second Quarter 2022 Financial Results Call
Second Quarter 2022 Financial Results Call August 29, 2022 C O N F I D E N T I A L & P R I V A T E
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation and the accompanying oral presentation includes forward-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 safe harbor provisions of the U.S. P
Slide 3: Agenda
Second Quarter Highlights 4-7 Q2 Financial Results 8 AGENDA YTD Financial Results 9 2022 Outlook 10 Appendix 11 - 19 C O N F I D E N T I A L & P R I V A T E 3
Slide 4: Second Quarter Highlights
Second Quarter Highlights • Total revenue grew 53% to $15.9 million • Adjusted EBITDA(1) of $3.6 million • Adjusted EBITDA Margin (1) of 23% • Free Cash Flow (1) of $2.9 million • Delivered more than 57,000 new depositing customers in the second quarter, compared to 26,000 in the second quarter 2021
Slide 5: Second Quarter Highlights
Second Quarter Highlights • North American revenue grew 342% to $6.2 million • Successful new market launch in Ontario • Continued solid performance in UK and Ireland markets • Work on RotoWire.com is progressing well ahead of the seasonally stronger fall sports season • Added Michael Quartieri, CFO
Slide 6: Diversified Portfolio of Premium Digital Media Assets
Diversified Portfolio of Premium Digital Media Assets U.S. State Specific National U.S. Sites S O International Brands Strategic U.S. Media Assets and Partnerships T 6
Slide 7: Market Update and Outlook
Market Update and Outlook Q2 launched: Imminent: Expected 2023: KS OSB market OH OSB market MD OSB market MA OSB market launch date is will launch on launch date TBD launch date TBD Ontario OSB and OC market September 1st, 2022 January 1st, 2023 launched on April 4th 7
Slide 8: Q2 2022 Financial Results
Q2 2022 Financial Results(1) Q2 2022 Q2 2021 Change Revenue (millions) $15.9 $10.4 53% Cost of Sales $0.5 $0.0 100% Operating Expense (millions) $17.7 $7.2 NM(2 Operating Profit (Loss) (millions) ($2.2) $3.2 NM(2 Net Income (millions) $0.05 $2.4 -100% Net Income per Diluted Share $0.00 $0.08 -100% A
Slide 9: First Half 2022 Financial Results
First Half 2022 Financial Results(1) 1H 2022 1H 2021 Change Revenue (millions) $35.5 $21.9 62% Cost of Sales $1.7 $0.0 100% Operating Expense (millions) $31.8 $13.5 NM(2) Operating Profit (millions) $2.0 $8.4 (42%) Net Income (millions) $4.5 $6.9 (76%) Net Income per Diluted Share $0.13 $0.22 (43%)
Slide 10: FY 2022 Outlook
FY 2022 Outlook (1) Low Midpoint High FY 2021 Revenue (millions) $71.0 $73.5 $76.0 $42.3 Adjusted EBITDA (millions) $22.0 $24.5 $27.0 $18.4 Adjusted EBITDA Margin 31.0% 33.3% 35.5% 43.4% • For 2022, revenue is expected to be in the range of $71 - $76 million, which implies growth of 68-80%. • For 20
Slide 11: Appendix: Financial Tables
Appendix: Financial Tables C O N F I D E N T I A L & P R I V A T E 11
Slide 12: Condensed Consolidated Statements of Comprehensive Income (Loss)
Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) (USD in thousands, except per share amounts) Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Revenue 15,924 10,392 35,509 21,909 Cost of sales (495) — (1,724) — Gross profit 15,429 10,392 33,785 21
Slide 13: Condensed Consolidated Statements of Financial Position
Condensed Consolidated Statements of Financial Position (Unaudited) (USD in thousands) JUNE 30, DECEMBER 31, 2022 2021 ASSETS Non-current assets Property and equipment 644 569 Intangible assets 83,076 25,419 Right-of-use assets 1,896 1,465 Other non-current assets 40 — Deferred tax asset 6,104 7,028
Slide 14: Condensed Consolidated Statements of Cash Flows
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD in thousands) Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Cash flow from operating activities Income before tax 186 3,027 5,041 8,159 Finance expenses (income), net (2,435) 130 (3,012) 209 Adjustments for
Slide 15: Earnings Per Share
Earnings Per Share Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 (in thousands USD, except for (in thousands USD, except for share and per share data, share and per share data, unaudited) unaudited) Net income for the period attributable to the shareholders 56 2,445 4,542
Slide 16: Adjusted Operating Expense and Adjusted Operating Profit Reconciliation
Adjusted Operating Expense and Adjusted Operating Profit Reconciliation Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 (in thousands USD, unaudited) (in thousands USD, unaudited) Operating expenses 17,678 7,235 31,756 13,541 Fair value movement on contingent (2,849) — (2,8
Slide 17: Adjusted Net Income and Adjusted Net Income Per Share Reconciliation
Adjusted Net Income and Adjusted Net Income Per Share Reconciliation Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 (in thousands USD, except for (in thousands USD, except for share and per share data, share and per share data, unaudited) unaudited) Net income for the peri
Slide 18: Adjusted EBITDA and Adjusted EBITDA Margin Reconciliation
Adjusted EBITDA and Adjusted EBITDA Margin Reconciliation Three Months Ended Six Months Ended June 30, CHANGE June 30, CHANGE 2022 2021 $ % 2022 2021 $ % (in thousands USD, (in thousands USD, unaudited) unaudited) Net income for the period attributable to the shareholders 56 2,445 (2,389) (98)% 4,54
Slide 19: Free Cash Flow Reconciliation
Free Cash Flow Reconciliation Three Months Ended Six Months Ended CHANGE CHANGE June 30, June 30, 2022 2021 $ % 2022 2021 $ % (in thousands USD, (in thousands USD, unaudited) unaudited) Cash flows generated by operating activities 3,460 4,738 (1,278) (27)% 6,944 11,478 (4,534) (40)% Capital Expendit