Gentoo Media Enjoys Record Q3 2024 Revenue After Restructure
Following the recently completed structural business changes, the market-leading affiliate that helps connect iGaming and betting operators to players across the globe, Gentoo Media, released its latest financial update, pointing to exceptional revenue growth.
Strong Financial Results Despite Business Split
On Wednesday, the company, released its Q3 2024 financial results, highlighting a 35% year-over-year revenue growth to âŹ30.4 million ($32.2 million). Per the recently released report, Gentoo Mediaâs revenue indicates an organic growth of 12% year-over-year.
In Q3 2024, the company also reported âŹ14.6 million ($15.5 million) in EBITDA before special items representing a margin of 48%. On the other hand, EBITDA after special items soared to âŹ14.0 million ($14.8 million), up by 36% with an EBITDA margin of 46%.
Earlier this year, the spin-off of Gaming Innovation Group (GiG) which involved the rebranding of GiG Media as Gentoo Media was part of a strategic split. While the rebranding was completed early in the summer, the split was finalized during the third quarter.
âDuring the quarter, the company completed the spin-off of its Platform & Sportsbook division and formally rebranded from Gaming Innovation Group Inc. to Gentoo Media Inc,â
reveals Gentoo Mediaâs Q3 2024 financial update
Building further positive momentum, Gentoo Media announced the rebranding of GiG Comply as Sitebee last month. The key move complemented the companyâs spin-off from GiG, effectively helping it shift its focus.
According to the latest financial update, the milestone changes completed by Gentoo Media will play a key role in the companyâs future. âGentoo Media is now purely an affiliate-focused business after distribution of the Platform and Sportsbook division to shareholders on 30 September 2024,â explained the latest financial update.
âGentoo Media is now better positioned to deliver meaningful returns and create substantial value for our investors,â
reads a statement from Gentoo Media
Additionally, the company predicted that its cash flow is expected to further improve in light of the split and help by âexpanding capital allocation options moving forward.â Gentoo Media added that the business transformation positioned it well for further growth and return to its investors.
Equally as important, the latest solid revenue result represents the 15th consecutive quarter during which the company reports growth. In fact, the revenue reported during the latest quarter marks a new record for the company.
