Group Announces Select Preliminary 2023 First Quarter Results

By | April 25, 2023 Group Limited, a leading provider of player acquisition services for the regulated global online gambling industry, today provided select preliminary financial results for the first quarter ended March 31, 2023. The Group will report its actual 2023 first quarter results on Thursday, May 18, 2023.

Preliminary 2023 First Quarter Results:

  • Total revenue will be in the range of $26.4 million to $26.9 million
  • Net Income will be in the range of $6.3 million to $6.8 million
  • Adjusted EBITDA will be in the range of $10.3 million to $10.8 million, representing an Adjusted EBITDA margin of 39% to 40%1
  • Cash flow generated by operating activities will be in the range of $6.8 million to $7.3 million
  • Free Cash Flow will be in the range of $5.9 million to $6.4 million1

Charles Gillespie, Chief Executive Officer and Co-Founder of Group, commented, “Our preliminary 2023 first quarter results exceeded internal forecasts. These results reflect strong organic growth driven by the robust ramp up of our North American operations and ongoing momentum in our established markets. These preliminary results also highlight the benefits of our operating model which enables us to simultaneously deliver impressive top line, profitability, and cash flow growth. With the strong start to 2023, we remain confident that Group is on track for another year of record revenue, Adjusted EBITDA and Free Cash Flow.”

The preliminary unaudited results provided in this release are derived from preliminary internal financial reports and are subject to revision based on the Group’s procedures and controls associated with the completion of its 2023 first quarter financial reporting.

2023 First Quarter Conference Call and Webcast Group will release 2023 first quarter results before the market opens on Thursday, May 18, 2023, and host a conference call and simultaneous webcast at 8:00 AM ET that day. During the call, Group Chief Executive Officer and Co-Founder, Charles Gillespie, and Chief Financial Officer, Elias Mark, will review the Group’s financial results and provide a business update, followed by a question-and-answer session. An accompanying slide presentation will be available in the “News & Events” section of the Group’s website.

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