Group reports a 37% rise in revenue in Q3 Group reports a 37% rise in revenue in Q3

The revenue for the three months prior to October amounted to £12.0 million, which was a rise of $7.4 million compared to the same period last year. This does not come as a surprise at all, knowing the fact that a third of Brits gamble once a week. Group said that the increase in revenue is mainly because of its improved monetisation of new depositing customers, with a mix of some technology improvements and changes in product and market.

More than half of the revenue for the quarter was cost per acquisition, generating $5.5m, while Hybrid commission revenue reached $2.8m and revenue share commission $829,000. 

On the other hand, operating expenses were 97.4% higher at $7.7 million, mainly due to its higher spending across sales and marketing technology. Group also said that it’s listing on the Nasdaq stock exchange, incurred additional operating costs, leading to a small dip in the net profit.

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