XLMeida continues strong online growth

Finance News

XLMedia has provided the following trading update for the six months ended 30 June 2021.The company continues to make good progress in the current financial year, buoyed by a consistent performance in the personal finance vertical, record organic growth in the European Sport vertical and a positive impact from the recently acquired US Sports vertical.

However, this progress is partially offset by the Casino vertical’s performance, where tail revenues continue to deteriorate and new revenue is being built from a smaller existing asset base.

For the six months ended 30 June 2021, XLMedia expects to report revenue of approximately US$32.0 million  2020: US$27.7 million, EBITDA of approximately US$2.9 million (H1 2020: US$3.5 million) and Adjusted EBITDA of approximately US$7.0 million (H1 2020: US$5.1 million).

Cash balances remained strong and at end of June 2021 were approximately US$38.0 million (30 June 2020: US$24.8 million). The company therefore reaffirms guidance as previously stated on 27th May 2021 of revenue for full year 2021 of between $65 million and $70 million.

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