GAMIVO SA, a technology company listed on NewConnect, presented its financial results for the second quarter of 2024. Revenue amounted to 4 million PLN and was 10% higher than in the first quarter of this year. Net profit amounted to 0.94 million PLN. The company recorded a 27% quarter-on-quarter increase in EBITDA to 1.65 million PLN. The improved result was influenced by operations optimization and revenues derived from platform operator license fees. In the second quarter of this year, the platform developed by the company served over 5.6 million registered users and 1418 suppliers. In the coming quarters, the company plans to attract new customer groups and develop the platform to expand its offer.
– In the second quarter we generated PLN 4 million in revenue and PLN 0.94 million in profit, while the EBITDA indicator was close to PLN 1.7 million. These figures are higher than in the previous quarter this year, confirming that the consistent implementation of the new strategy results in the expected outcomes. Importantly, the second quarter also showed that we can improve profitability and increase profitability – says Mateusz Śmieżewski, CEO of GAMIVO SA.
– It should be noted that despite the decline in revenue compared to last year, resulting from the exclusion from the GAMIVO Group and the sale of the Maltese company Gamivo.com Ltd., we recorded a 3% y/y increase in adjusted net profit. This proves that the move away from current sales service to focus on the development of an advanced technology platform was a good move. Our actions are driven by data and analysis and looking at the wider market, we see further room for growth – adds Mateusz Śmieżewski.
The company has started another project to optimize the operation of the service, to increase the comfort of users and operators of the platform. Along with the strategy change carried out at the end of 2023, GAMIVO also gained on flexibility. The company plans to introduce a completely new kind of products, which is expected to attract new groups of customers and open itself up to new licensees.
In the second quarter, the company recorded over 5.6 million user accounts registered on the platform (an increase of 143 thousand users q/q) and 1418 providers. Along with the current licensee, it also worked on the development of business cooperation, resulting in collaboration with brands such as Eventim or Wargaming.
– Thanks to our utilization of our know-how, the platform operator can successfully implement marketing campaigns contributing to the growing popularity of the service we created. An example is the cooperation with the mobile operator a2mobile started in the second quarter – explains Tomasz Lewandowski, member of the GAMIVO SA board.
Source: https://managerplus.pl/gamivo-poprawia-rentownosc-i-zwieksza-przychody-w-ii-kwartale-2024-r-60713
