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Probability Releases Mixed Yearly Fiscal Results

Mobile internet wagering software developer Probability plc has released its year end fiscal results, noting higher revenues than the year before but posting an overall loss for the year.

Key financial indicators for the year ending March 31st, 2013 were:

  • Net gaming revenues of £8.6 million (FY12: £7.2 Million), a 20% increase

  • Turned in an EBITDA profit of £41,000 compared to last year's loss of £360,000.

  • Overall loss for the year was £0.6 million (FY12: £0.5 million). This figure includes share option charges, depreciation and amortisation totaling £0.5 million (FY12 £0.2 million).

  • Cash and cash equivalents at 31March 2013 £3.4 million (31March 2012: £1.8 million).

  • Average Revenue per User (“ARPU”) from B2C active players in the year of £161, a 7% increase on previous year.

  • 55% of Platform Gross Revenue derived from business-to-business (“B2B”) services (FY12: 44%).

Commenting on the results, Probability Co-Founder and CEO Charles Cohen said, "We are pleased overall with our performance in FY13, delivering 20% revenue growth and a positive adjusted EBITDA despite having taken some tough decisions which were entirely necessary in order to position Probability for the next phase of growth in the mobile gambling market. Sometimes you need to take a pit stop for new tires and fuel."