Revenue for the six months to June 30 is expected to reach $32.0m (£23.3m/€27.2m), marking a 15.5% increase compared to the same period last year. While earnings before interest, tax, depreciation and amortisation (EBITDA) is projected to decline by 17.1% from $3.5m to $2.9m, adjusted EBITDA is anticipated to grow by 37.3% from $5.1m to $7.0m. XLMedia has confirmed that its full-year revenue guidance of between $65.0m and $70.0m remains unchanged from its statement on 27 May.
Within the first half of the year, XLMedia has experienced a consistent performance in the personal finance vertical, as well as record organic growth in the European sport sector. Additionally, the company has observed positive impacts from its recent acquisitions in the US market. In March, XLMedia acquired the US-focused sportsbook review website Sports Betting Dime, followed by the purchase of sports gaming and betting business CBWG Sports in December 2020.
Alongside the financial update, XLMedia has also provided an operational update highlighting the momentum gained through the integration and implementation of various marketing initiatives across its US sports assets. These initiatives have resulted in increased traffic levels on all sites since their acquisition. Furthermore, XLMedia mentioned that the management is actively working on reorganizing the business, supported by a distributed shared services model. This allows the company to align its strategic intentions with the design of the group, leading to more effective execution and delivery of its goals.
However, implementing this business reorganization initiative is expected to involve a 15% reduction in the total workforce. XLMedia intends to spread functional expertise across multiple locations to provide timely and localized support while controlling costs. The company is also actively evaluating acquisition opportunities that can contribute to its growth ambitions and enhance its earnings.
