Gambling firm NYX has posted its fourth quarter and full year 2014 financial results, noting higher oerall revenues and gross profits.
Key financial indicators for the fourth quarter were:
Revenue of $8.6 million;
Gross Profit of $7.5 million;
Adjusted EBITDA of $600,000 including the results of Ongame;
Net loss of $8.3 million;
Following the acquisition of Ongame Networks Ltd., NYX Gaming Group completed its initial public offering and secondary offering at $3.50 per share for total gross proceeds of $20 million to NYX Gaming Group and $29.5 million to certain venture capital funds advised by Verdane Capital Advisors for an aggregate of $49.5 million.
Full year results were:
Full-year revenue up 46 percent to $27.3 million;
Full-year Adjusted EBITDA up 43 percent to $6.1 million;
Gross profit up 49 percent y-o-y to $24.1 million;
Gross margin rose from 86.7 percent to 88.3 percent;
Net losses worse at $7 million (FY 2013: $1.9 million) due to investment in making new acquisitions, public listing expenses and restructuring;
Commenting on the results NYX Chief Financial Officer Arthur Hamilton said, “Our 46 percent increase in revenue and 49 percent increase in gross profit demonstrate the strength and scalability of our business. We continue to benefit from recurring revenue received from royalties and licensing fees which represents over 80 percent of our total revenue."