posts record full year revenue

Finance News reported financial results for the fourth quarter and full year ended December 31, 2021. On October 29, 2021.

Fourth quarter 2021 revenue was $21.5 million, up $18.2 million versus prior-year period. Full year 2021 revenue of $68.5 million, an increase of $61.0 million versus 2020. Full year 2021 net loss of $9.3 million. Full year 2021 Adjusted EBITDA of $31.1 million.

Tony DiMatteo, Co-Founder and CEO, commented, “In the fourth quarter and throughout 2021, we demonstrated our ability to execute our strategic growth initiatives across the business to generate strong revenue growth and gross profit. B2C sales increased compared to the prior year period, despite no digital marketing spending. LotteryLink, our affiliate program, expanded and generated multiple revenue streams. I am extremely proud of our team achieving these accomplishments while successfully closing the business combination and taking our Company public.”

Mr. DiMatteo continued, “We entered 2022 with positive momentum and continued focus on executing our strategic growth plan. Fueled by approximately $43 million of proceeds from our business combination and $30 million received from the sale of LotteryLink credits, we are investing in initiatives to drive growth. I am pleased with our execution in the first quarter and am excited about our prospects to scale and grow the business in 2022.”