US betting group NYX Gaming Group has released their third quarter 2016 financial results, noting revenue increases of 308.9% when compared to the same period last year.
Key financial indicators for the third quarter ending September 30th, 2016 were:
- Revenue of C$54.4 million (Q3/2015: C$13.23 million), an impressive increase of 308.9 percent.
- Royalty and License revenue increased 130.9% to C$26.5 million (Q3/2015: C$11.5 million).
- Professional services revenue of C$24.7 million (Q3/2015: C$0.4 million).
- Gross profit amounted to C$49 million (Q3/2015: C$11.1 million), up 342.1 percent.
- Gross profit percentage was 90.3% (Q3/2015: 83.5 percent).
- Net income of C$41.4 million (Q3/205: loss of C$6.5 million).
- Adjusted EBITDA was C$14.5 million (Q3/2015: C$ 1.1 million).
Commenting on his company's performance NYX CEO Matt Davey said, "NYX continues to deliver strong organic growth across all product verticals. Through our M&A activity, we have built the foundations of a world-class digital gaming software supplier that focuses on regulated markets. The team has made significant progress against a number of key objectives that position us at the forefront of the industry opportunity."
"We are entering phase two of our journey now to unlock the true value of our operations and we continue to see market-leading demand for our products and services."