Super Group Q1 Revenues Up On Higher Monthly Active Users, Forecasts Another Strong Quarter Ahead

Super Group (SGHC) Limited SGHC reported the first quarter of FY23 revenues of €338.5 million, up 1% year over year.
The online sports betting and gaming operator recorded a GAAP EPS loss of (€0.48).
Revenues were driven by growth from Africa, the Middle East, and European markets, partially offset by North America's decline (predominantly in Canada due to the regulatory changes in Ontario) and Asia-Pacific markets.
Monthly Active Customers increased 34% to 3.5 million during the quarter from 2.6 million a year ago.
The company exited the quarter with cash and equivalents worth €246.3 million.
Operational EBITDA was €34.7 million versus €63.0 million a year-ago.
"During the month of March, net gaming revenue was a record high, along with the Operational EBITDA margin of over 20% and this is a strong reminder of the value of operating leverage in our business," said CEO Neal Menashe.
"We are confident that we will continue to build on another strong quarter across iGaming and sports betting across the world," he added.
Price Action: SGHC shares are trading lower by 3.95% to $3.40 on the last check Wednesday.

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