B90 shares rise as strong first-half earnings confirm annual outlook
B90 Holdings PLC on Tuesday said it delivered a ‘strong’ performance in the first half of its current financial year, and expects full-year results in line with market expectations.
The Isle of Man-based company in the online gambling industry said both revenue and earnings before interest, tax, depreciation and amortisation were up ‘significantly’ on-year in the six months that ended June 30.
It added that this reflected ‘continued momentum’ in the firm’s transition to a scalable business-to-business-focused model.
Shares in B90 were up 23% at 3.50 pence in London on Tuesday afternoon. The stock has risen 15% over the past year.
Operating expenses were relatively flat during the six-month period, despite the increase in earnings, as a result of operational efficiency remaining a ‘core focus’, the company explained.
‘B90 is no longer just a turnaround story; it is now a technology-led B2B marketing growth story. Strong year-on-year growth confirms that our pivot from B2C gambling operations to a leaner, B2B-led model is working. Our first-half results represent clear progress and position us well for the remainder of the year,’ said Executive Chair Ronny Breivik.
‘We now have a solid platform to scale more aggressively, and our focus will be on growing revenues from existing assets; expanding our partner base; unlocking new geographies; and investing in next-generation marketing channels.
‘Technology remains at the core of our model, and we will continue to embrace AI and automation to ensure efficiency at scale. We remain confident in delivering another year of material revenue and Ebitda growth.’
B90 did not on Tuesday outline what it believed the market consensus to be.
The firm reported a pretax loss of €1.7 million in 2024, narrowed from a €5.5 million loss in 2023, on revenue growth of 17% to €3.5 million from €3.0 million. B90 at the time had reduced administrative expenses by 32% on-year.
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