“The second quarter of 2021 was a record quarter for Raketech with general solid performance across most assets and regions, in particular from our Network sales and from our efforts in Japan. Total revenue amounted to an all-time high of EUR 8.8M, corresponding to a growth rate of 25% whereof 25.7% was organic. The EBITDA margin was stable at 38.7%, in line with previous quarter.”


  • Revenues totalled EUR 8.8 million (EUR 7.0 million) representing an increase of 25.0%
  • Organic growth amounted to 25.7% (-1.2%)
  • NDCs (New Depositing Customers) amounted to 34,839 (40,847), representing a decrease of 14.7%
  • EBITDA amounted to EUR 3.4 million (EUR 2.8 million), corresponding to a margin of 38.7% (40.2%)
  • Operating profit amounted to EUR 1.6 million (EUR 1.5 million), corresponding to a margin of 18.2% (21.8%)
  • Profit for the period amounted to EUR 1.2 million (EUR 1.2 million)
  • Earnings per share amounted to EUR 0.03 (EUR 0.03)


  • Revenues totalled EUR 17.1 million (EUR 13.6 million) representing an increase of 25.8%
  • Organic growth amounted to 16.0% (-7.1%)
  • NDCs (New Depositing Customers) amounted to 74,713 (73,125), representing an increase of 2.2%
  • EBITDA amounted to EUR 6.6 million (EUR 5.5 million), corresponding to a margin of 38.7% (40.2%)
  • Operating profit amounted to EUR 3.2 million (EUR 2.9 million), corresponding to a margin of 18.5% (21.4%)
  • Profit for the period amounted to EUR 2.4 million (EUR 2.3 million)
  • Earnings per share amounted to EUR 0.06 (EUR 0.06)


  • There were no significant events during the quarter.


  • On July 7, 2021, Raketech announced the acquisition of P&P Vegas Group Inc and all assets from QM Media AB, a sports focused acquisition, delivering growth in primarily the US and Indian markets. The total purchase price amounts to EUR 16 million, payable in cash and through the issuance of new shares as at closing as per 15 September 2021.
  • On July 9, 2021, Raketech announced that the Company has signed a one-year revolving credit facility of EUR 15 million with Avida Finans AB. The credit facility includes an extension option and can thus be renewed annually from its first date of utilization subject to certain conditions.
  • On July 19, 2021, Raketech announced the acquisition of the organic casino affiliation marketing company, Infinileads S.L. Through the acquisition, Raketech takes a position in several Latin American emerging markets in addition to Spain, Italy and Portugal. The agreed purchase price amounts to EUR 4.5 million of which EUR 2.5 million was settled as per Closing (31 July 2021) and EUR 2 million will be payable as per 31 January 2022. A possible additional earnout payment will be measured over a period of 24 months post-Closing.
  • Revenues in July 2021 amounted to EUR 2.9 million (EUR 2.4 million).


“The strong numbers from outside of the Nordics made our non-Nordic revenues increase as share of total. Total non-Nordic revenues amounted to 39%, compared to 35% previous quarter and 19% previous year. The development is in line with our ambition to increase our global footprint.

In June we experienced an uplift in terms of traffic and users on our sports related assets in connection with the European Championships in Football (the Euros). In time for the Euros, it is also worth mentioning that we launched our very first Free-to-Play product with which we offered a 100,000 EUR prize pool for the championships as well as several daily game tipping competitions, embedded on our popular TV-sportsguide asset on multiple markets. Being our first, but not our last, Free-to-Play offering, this is a major milestone on our quest of adding even more user-friendly, engaging, and sticky assets to our portfolio.

Following a very strong Q1, our US sport revenues, as expected, declined slightly due to seasonality, landing the overall sports share at 15% of the group’s total compared to 17% during Q1. As highlighted before, the US is expected to be more volatile, not only due to the nature of the market but also due to the fact that the vast majority of revenues is CPA driven.

After the end of the quarter, several important milestones were passed. A key activity was that we managed to secure access to additional funding to help us continue, and to some extent also accelerate our M&A efforts, in the form of a new and increased Revolving Credit Facility (RCF) from Avida Finance. This new RCF will be replacing the existing one during the fourth quarter, but we will also continue to evaluate further long-term financing opportunities, in line with our growth strategy and M&A agenda.

And with regards to M&A, we also announced two acquisitions in July: Infinileads and QM Media. Both are ticking several strategic boxes; giving us new and increased presence on strategically important markets, as well as technical and operational competence in addition to new types of revenue streams. These acquisitions are expected to add approximately EUR 6m in revenue and increase the group’s overall margin by as much as up to 4 percentages after integration. They are furthermore expected to generate additional positive cash flow to the group from day one, including potential future performance based earn-outs.


Our focus in the short term is to integrate our latest acquisitions. This to ensure we reap all potential positive synergy effects we possibly can. Mid-term to long-term our focus is however unchanged; we will continue to deliver on our growth strategy which includes product diversification, geographical expansion, increased monetization though R&D as well as M&A, with a specific focus on the US.

In July we saw a somewhat different composition in our overall product mix between Network and traditional affiliation and marketing revenues. This due to slightly reduced Network revenues from Germany as an effect of the Interstate Treaty implemented on July 1st, and strong performance from our other high margin assets, such as Casinofeber which has regained ground again after it’s temporary setback in December of last year. With that said, July revenues amounted to EUR 2.9m with an adjusted margin of 43%, where the increased margin primarily relates to the product mix composition. And for clarity, this does not include recent acquisitions.

Lastly, I wish to highlight that our stable performance and continuous strategic delivery is the result of a true team effort. It is therefore extra rewarding to be able to announce that Raketech has been crowned the EGR Affiliate Employer of the year for 2021.”

Link to report

The full Interim Report is available on


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