Developer and supplier of online gaming solutions Yggdrasil Gaming today announced its financial results for the three months ended September 30. The company experienced another quarter of solid growth in all key performance indicators.
Revenue totaled SEK21 million for the period in review, up 299% from the same quarter of 2015. The significant increase was attributed to a great extent to the supplier’s performance in the mobile segment. Revenue from mobile offering accounted for 54% of the company’s quarterly revenue.
EBITDA increased from SEK1.9 million in 2015 to SEK9.2 million. EBITDA margin stood at 44%. EBIT for the reported three months totaled SEK5.8 million.
Yggdrasil Gaming saw the number of player transactions increase 427% during this year’s third quarter to reach 438 million.
The iGaming supplier signed two new license agreements in the reviewed three months, including one with online casino brand Casumo. The company rolled out three new gaming titles, with those being Big Blox, Legend of the White Snake Lady, and Double Dragons, as well as the BRAG social sharing tool and the Yggdrasil White Label Studios concept for the creation of innovative online slots content.
In terms of expansion, Yggdrasil Gaming obtained two licenses from the Romanian gambling regulator to host gaming platforms and to provide its products to companies operating in the local market. Thus, the supplier made another important step towards extending its footprint in regulated markets. Yggdrasil Gaming’s solutions are expected to go live in Romania anytime now.
Commenting on the latest quarterly report posted, Yggdrasil Gaming CEO Fredrik Elmqvist said that his company has had another action-packed and extremely successful quarter. The executive pointed out that although they are pleased with their financial results, they will remain focused on exploring more opportunities for “sustainable, long-term growth” and rapid expansion.
Mr. Elmqvist hailed the company’s experienced team, start-up culture, and creativeness as instrumental to its fast-paced growth. Yggdrasil Gaming expects this year’s fourth quarter to be equally impressive in terms of financial results to be posted, with those to be supported by upcoming “strong releases” and its suite of promotional tools that have gradually placed themselves as market leaders.
Further expansion into regulated online gaming markets, the establishment of a Stockholm-based parent company, and launches with more international gambling operators have been listed by the gaming developer and supplier as core targets it will be focusing on in the months to come.
