Jumbo Interactive revenue up 18.1% in H1

Jumbo Interactive reported a first-half net profit after tax of AU$18.2m.

02/24/23

The company posted revenue of AU$62.4m for the six months ended December 31.

Australia.- Jumbo Interactive Limited has announced that its revenue grew by 18.1 per cent year-on-year to AU$62.4m in the first half of its 2023 financial year. The company posted net profit after tax of AU$18.2m and EBITDA of AU$30.4m for the six months ended December 31.

Lottery Retailing delivered growth in both total transaction value (TTV) and revenue, with an 8 per cent increase in TTV and a 7 per cent increase in revenue. However, the shift in product mix with a relatively higher proportion of Powerball ticket sales led to a decline in the revenue margin of 0.1 per cent.

The software-as-a-service (SaaS) segment saw strong growth, with underlying TTV and external revenue increasing by 20 per cent and 19 per cent, respectively. Underlying EBITDA also increased by 8 per cent to AU$15.7m, reflecting a stable revenue margin of 67.7 per cent.

Finally, Jumbo’s Managed Services segment, which provides digital lottery platforms and management services to charities and worthy causes, recorded a TTV of AU$66.6m, revenue of AU$8m, and EBITDA of AU$2.7m.

The acquisition of Stride and StarVale contributed to the growth, with Stride’s full six-month contribution recorded in 1H23 and StarVale’s two-month contribution recorded.

Jumbo Interactive CEO and founder Mike Veverka said: “We are pleased with the solid growth achieved in 1H23 which reflects a strong recovery in jackpots in the second quarter, including the AU$160m Powerball, our best draw to date.

“Our platform continues to perform exceptionally well, with 100 per cent uptime for the AU$160m Powerball and a several records broken in terms of signups, checkouts and tickets sold per second. This performance is a testament to the work we’ve done in building a best-in-class lottery platform.

“Stride has made a meaningful contribution to Group earnings and we are pleased to have completed our acquisition of StarVale in November 2022. We continue to be impressed by the quality and growth potential of these businesses, and the integration process is now well underway.”