B90 Holdings has shared its financial results for the first half of 2024. The company’s revenue reached €1.4 million ($1.6 million), showing an 83% increase compared to the previous year. The net loss decreased significantly, dropping from €1.8 million to €0.3 million. During this period, the EBITDA was €0.2 million, which is a big improvement from the €1.3 million loss reported last year.
The Story Behind
B90 Holdings has changed its business model from B2C to B2B. This transition fully took effect at the end of 2023. As part of this shift, B90 relaunched its Bet90.com brand as a B2B affiliate. It is now using subsidiary brands like Emwys, Oddsen.nu, and Tippen4you for lead generation through SEO and other strategies.
Oddsen.nu, acquired by B90 last September, started its global affiliate operations in April. It launched the King of Euro 2024 competition to boost user engagement, offering a €9,000 grand prize. B90 highlighted this competition in its H1 results report as a great way to connect with key audiences. Looking at the H1 results, a notable factor in the reduced net loss was a drop in other administrative expenses. These expenses fell from €0.9 million in H1 2023 to €0.3 million in H1 2024. Additionally, marketing and selling expenses decreased from €0.4 million to €0.2 million.
Reactions
Breivik mentioned that the past six months have been transformative for B90. He emphasized that the Group has achieved consecutive months of profitability at the EBITDA level. This is an important milestone for the company. It helps them build a strong foundation for sustainable growth.
He added that this EBITDA profitability has continued into the second half of the year. This shows that their efforts are paying off. Breivik expressed confidence that their focus on B2B operations will lead to long-term success. He believes that their strategic investments will also contribute to growth. Breivik is optimistic about the future. He thinks that these positive changes will create more value for shareholders. Indeed, he foresees a bright outlook for B90 as they continue on this path.
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