NYX Gaming Revenue Up
Wednesday April 27,2016 : NYX GAMING REVENUE AND GROSS PROFIT FLY HIGH
But results impacted by Ongame losses.
NYX Gaming Group Limited (NGG) almost doubled revenues in its latest fourth quarter and full year 2015 report hailing growing demand for its Open Gaming System (OGS) platform along with an increase in license and royalty revenues as its main growth drivers.
Fourth Quarter and Full Year 2015 performance indicators for the three months ending March 31, 2016 include:
– Quarter 4 Revenue of CAD 18.4 million or 114.5 percent year-over-year growth (Q4/2014: CAD 8.6 million). FY 2015 revenue rose to CAD 52.3 million, up 91.8 percent over 2014 (FY2014: CAD 27.3 million).
– Organic Revenue (excluding acquisitions) of CAD 11.7 million or 36.9 percent year-over-year growth (Q4/2014: CAD 8.6 million);
– Quarterly Royalty and License Revenue of CAD 15.8 million (Q4/2014: CAD 7.5 million); cited as one of its main growth drivers. FY2014 royalty and license revenues of CAD 44.2 million (FY2014: CAD 22.6 million)
– Quarterly Gross Profit of CAD 15.8 million; FY2015 Gross Profit rose 50.1 percent to CAD 40.2 million (FY2014: CAD 26.8 million).
– Quarterly Gross Profit margins were 86.2 percent (Q4/2014: 87.6 percent) and Full Year 2015 was 85.6 percent (FY2014: 88.3 percent). The decrease in gross profit margins was largely attributed to an increase in third-party game generated revenues.
– Quarterly net loss of CAD (10.7) million and FY2015 net loss of CAD (8.4) million; compared to CAD (8.3) million and CAD (7) million respectively.
– The company attributed its net loss result to acquisition and restructuring costs, finance expenses and losses from its off-loaded Ongame poker network business, offset by a CAD 17.4 million gain from the acquisition of the Sportech joint venture.
– Adjusted EBITDA was CAD 1.6 million and CAD (0.8) million for the three and twelve month periods compared to Adjusted EBITDA of CAD 0.6 million and CAD 6.1 million respectively during 2014.
– Quarterly EBITDA was positively impacted by strong growth in revenues and reduced losses from the Cryptologic and Chartwell acquisition as the company realised benefits from its restructuring efforts.
– Ongame losses of $2.9 million and $11.1 million for the three and twelve months ended December 31, 2015 continue to negatively impact operating results.
"I am pleased to announce that 2015 was another outstanding and remarkable year for NYX. We achieved growth in both revenue and gross profit. Our ongoing performance is a reflection of our ability to deliver content and technology services that meet the demands of the digital gaming industry. The momentum we gained from executing a robust strategy highlights our continued commitment to delivering long-term shareholder value," commented chief executive officer Matt Davey.
