Bragg Gaming Group Inc. · TSX:BRAG
Bragg Gaming — Q1 2024 Earnings Presentation
16 slides from Bragg Gaming's earnings presentation, May 2024
Slide 1: First Quarter 2024 Results Presentation
First Quarter 2024 Results Presentation May 2024 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 Highlights • Financials • Commentary on Strategy & Operations 1Q24 • Outlook & Summary 3
Slide 4: Special Committee Review Ongoing
Special Committee Review Ongoing Board-run process chaired by independent director Don Robertson • Recent uptick in market activity, with corresponding increased interest in Bragg • Special committee formed in 1Q24 to consider strategic alternatives that may include a sale, merger, acquisition or ad
Slide 5: Operational Highlights
Operational Highlights Key Company Developments since January 1, 2024 Recent Developing Growing Expanding News Content Markets Distribution Financing Secured 19 Exclusive Games Released B2B License Award in Peru Golden Nugget Michigan Delivers working capital flexibility In 1Q24, compared to 11 in 1
Slide 6: Financials
Financials 6
Slide 7: First Quarter 2024 Financial Results
First Quarter 2024 Financial Results 1Q24 Financial Highlights Revenue (EUR,m) • Revenue increased by 4.2% to EUR 23.8m 24,7 • Gross profit decreased by 2.8% to EUR 11.9m with margins decreased to 49.9% 23,7 23,8 23,4 22,9 22,6 • Adjusted EBITDA decreased by 12.4% to EUR 3.4m with margins decreased
Slide 8: First Quarter 2024 Product Mix
First Quarter 2024 Product Mix 1Q24 Gross Profit Margins Product Mix Continues to Evolve • Gross profit decreased by 2.8% to EUR 11.9m with +4.2% Revenue margins dropping by 360bps to 49.9% 1Q23 v 1Q24 • 1Q24 seen a decline both in gross profit and margins due to revised commercial terms agreed with
Slide 9: First Quarter 2024 Adjusted EBITDA Reconciliation
First Quarter 2024 Adjusted EBITDA Reconciliation Reconciliation of Operating Income (Loss) to Adjusted EBITDA Three months ended March 31, EUR 000 2024 2023 Operating (Loss) Income (1,268) 520 (1) Depreciation and amortization 3,877 2,709 EBITDA 2,609 3,229 Depreciation of right-of-use assets (226)
Slide 10: 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 Three months ended March 31, March 31, December 31, EUR 000 2024 2023 EUR 000 2024 2023 Operating activities 2,749 6,361 Cash and cash equivalents 7,747 8,796 Investing activities (2
Slide 11: Commentary on Strategy & Operations
Commentary on Strategy & Operations 11
Slide 12: Positive Momentum for New Bragg RGS Content in North America
Positive Momentum for New Bragg RGS Content in North America Over 8x growth in wagering between April 2023 and March 2024 Bragg RGS Content Wagering in North America 1 • Content from multiple land-based game design teams through a single integration • Significant growth in the fourth quarter sustain
Slide 13: Bragg Games Exclusive Portfolio
Bragg Games Exclusive Portfolio 19 exclusive games released in 1Q24 including seven from Bragg Studios; Building critical mass generating of revenue-generating content On track to be released in 2Q24 after May 9 BRAGG STUDIOS = HIGH MARGIN POWERED BY BRAGG = DIVERSE PORTFOLIO 13
Slide 14: Newly Regulating iGaming Market Opportunities
Newly Regulating iGaming Market Opportunities Bragg is well placed to benefit from multiple jurisdictions on the brink of introducing or reforming iGaming regulation • Brazil is already a significant market for Bragg • We are well placed for growth in existing and newly regulating states in the U.S.
Slide 15: Outlook & Summary
Outlook & Summary 1 First quarter 2024 revenue rises 4.2% to EUR 23.8 million (USD 25.6 million) 2 Adjusted EBITDA in 1Q24 decreased 12.4% to EUR 3.4 million (USD 3.7 million) 3 Gross Profit for the first quarter decreases 2.8% to EUR 11.4 million (USD 12.8 million) 4 Refinancing completed, deliveri
Slide 16: Thank you
Thank you @ BRAGG