Company Announcements

Trading Update

Source: RNS
RNS Number : 3276O
31 January 2023

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014. Upon the publication of this announcement, this information is now considered to be in the public domain.

31 January 2023

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("XLMedia" or the "Group")


Trading Update


XLMedia (AIM: XLM), a leading global digital media company, today provides the following trading update for the year ended 31 December 2022 ("FY 2022").


The Group expects its full year consolidated results for FY 2022 to be in line with expectations, delivering revenue of approximately US$73.7 million (2021: US$66.5 million) and Adjusted EBITDA1 in the range of US$16.1 million to US$16.6 million.


Revenues from Sports and Gaming were up 27% to US$69.6 million (2021: US$54.6 million), with Adjusted EBITDA from these core activities of approximately US$17.5 million to US$18.0 million.

Cash balances (including short-term deposits) at FY 2022 are expected to be approximately US$10.8 million (FY 2021: US$24.6 million), with the Group having paid US$21.4 million in deferred acquisition and earnout payments during 2022.


The Group's Sports vertical delivered a strong performance during the year, with revenues up 72% to approximately US$54.0 million (2021: US$31.4 million), including New York legalising online sports betting in January 2022 and Maryland in November 2022. The Group now has North American coverage across 18 states, including Ohio, which went live on 1 January 2023, providing the Group with a strong start to the year, with Massachusetts expected to go live with online sports betting in March 2023.


The Group's casino and bingo Gaming assets generated revenues of approximately US$15.6 million (2021: US$23.2 million). The casino business progressed the rebuilding of its sites during 2022, delivering increasing audience, growing new depositing customers, and building new tail revenue from its revenue share deals. As expected, old tail revenues declined further in the year, although overall total revenues stabilised in the second half of the year.


Non-core revenues of US$4.1 million (2021: US$11.8 million) included Personal Finance revenue of US$1.9 million (2021: US$8.7 million). On the 15 December 2022, the Group announced that it is exploring the potential sale of all Personal Finance assets. This process remains ongoing and further announcements on progress will be made as and when appropriate.


1 Adjusted EBITDA is defined as EBITDA adjusted for Share Based Payments and Transformation costs.


Notice of Results


Results for the year ended 31 December 2022 will be published at the end of March 2023.


Capital Markets Day


As previously announced, the Group will hold a virtual Capital Markets Day on the 1 February 2023, starting at 2:00pm.


To join the live webcast of the event and Q&A session, please follow the below link to pre-register:


A recording of the presentation will also be made available on the Company's website after the event on:


For further information, please contact:


XLMedia plc

David King, Chief Executive Officer

Caroline Ackroyd, Chief Financial Officer

via Vigo Consulting

Vigo Consulting

Jeremy Garcia / Kendall Hill 



Tel: 020 7390 0233

Cenkos Securities plc (Nomad and Joint Broker)

Giles Balleny / Max Gould 



Tel: 020 7397 8900

Berenberg (Joint Broker)

Mark Whitmore / Richard Andrews / Alix Mecklenburg-Solodkoff

Tel: 020 3207 7800

About XLMedia: 

XLMedia (AIM: XLM) is a leading global digital media company that creates compelling content for highly engaged audiences and connects them to relevant advertisers.

The Group manages a portfolio of premium brands with a primary emphasis on Sports and Gaming in regulated markets. XLMedia brands are designed to reach passionate people with the right content at the right time.

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