Financial highlights during fourth quarter 2024
• Revenue amounted to EUR 10 363 (9 905) thousand, corresponding to
an increase of 5% and an organic growth of 8.9%.
• Adjusted EBITDA (before items affecting comparability) was EUR 1 182 (1 405) thousand decreasing by 16% year-on-year. EBITDA amounted to EUR 1 094 (1 810) thousand, decreasing by 40% year-on-year.
• Profit after tax was EUR -3 901 (-8 008) thousand. Adjusted profit after tax (before items affecting comparability and currency effects) was EUR -1 094 (-409) thousand.
• Impairment testing indicated a goodwill impairment charge of EUR 2.5 (7.2) million fully emanating from The Gambling Cabin which is included in items affecting comparability.
• Earnings per share after dilution amounted to EUR -0.023 (-0.046). Adjusted earnings per share (before items affecting comparability and currency effects) was EUR -0.006 (-0.002).
• New Depositing Customers (NDC) amounted to 43 199 (45 627) decreasing by 5%.
• Cash flow from operating activities amounted to EUR 911 (688) thousand.
Financial highlights during the year 2024
• Revenue amounted to EUR 38 587 (39 354) thousand, corresponding to a decline of -2% and an organic growth of 3.8%.
• Adjusted EBITDA (before items affecting comparability) was EUR 4 706 (6 335) thousand, decreasing by 27% year-on-year. EBITDA amounted to EUR 6 996 (5 457) thousand, increasing by 28% year-on-year.
• Profit after tax was EUR -2 562 (-31 205) thousand. Adjusted profit after tax (before items affecting comparability and currency effects) was EUR -2 771 (-2 272) thousand.
• Impairment testing indicated a goodwill impairment charge of EUR 2.5 (27.2) million fully emanating from The Gambling Cabin which is included in items affecting comparability.
• New Depositing Customers (NDC) amounted to 175 740 (327 921) decreasing by 46%. The decrease is due to strategic focus on acquisition of high value NDCs.
• Earnings per share after dilution amounted to EUR (0.015) (-0.206). Adjusted earnings per share (before items affecting comparability and currency effects) was EUR -0.016 (-0.015).
• Cash flow from operating activities amounted to EUR 4 226 (4 240) thousand.
IMPORTANT EVENTS DURING THE QUARTER
• 29 October 2024: Acroud announces payment of postponed interest under its outstanding bond loan.
More detailed information on press release: https://www.acroud.com/en/cision/128E01A68B1D1C44/
• 12 November 2024: Acroud announces resignation of the chairman of the board of directors.
More detailed information on press release: https://www.acroud.com/en/cision/316968898F5FA0CC/
• 18 December 2024: Acroud initiates a written procedure and postpones interest payment under its outstanding bond loan.
More detailed information on press release: https://www.acroud.com/en/cision/60A1EDA413F109B7/
• 19 December 2024: Notice of Extraordinary General Meeting in ACROUD AB (publ).
More detailed information on press release: https://www.acroud.com/en/cision/50326E75076E5C53/
IMPORTANT EVENTS AFTER THE QUARTER
• 14 January 2025: Acroud announces approval in the written procedure under its outstanding bond loan and the end of the subscription period for super senior bonds.
More detailed information on press release: https://www.acroud.com/en/cision/E8453430CE050CF8/
• 24 January 2025: Bulletin from the Extraordinary General Meeting held on 24 January 2025 in ACROUD AB.
More detailed information on press release: https://www.acroud.com/en/cision/737645ACE287856C/
• 24 January 2025: Acroud announces that the conditions in the written procedure under outstanding bond loan are fulfilled.
More detailed information on press release: https://www.acroud.com/en/cision/BFA11E679533580B/
• 14 February 2025: Acroud has successfully completed the previously announced restructuring. As a result company's debt was reduced and Acroud owns 100% of all subsidiaries in the group.
More detailed information on press release: https://www.acroud.com/en/cision/C0D3BDFFF842A0BD/
• 20 February 2025: Acroud announces a voluntary debt to equity swap offer to the bondholders of its outstanding bonds 2022/2028 with ISIN SE0017562481
More detailed information on press release: https://www.acroud.com/en/cision/DDA243A298067636/
CEO comments: Organic Growth, More Cash, and Reduced Debt
The fourth quarter of 2024 marks a pivotal moment in Acroud's journey. After months of dedicated work, we have successfully completed a comprehensive restructuring that has fundamentally reshaped the company. While the groundwork for these changes was executed intensively throughout Q4, the full effects of this transformation take effect after the quarter's conclusion in January and February 2025. As a result, the financial impact of these efforts is not yet reflected in the reported Q4 numbers. However, we are now operating with a stronger financial position, a clear strategic direction, and an enhanced ability to scale profitably.
A New, Stronger Acroud
Throughout Q4, our primary focus was executing critical financial and operational restructuring initiatives to set the foundation for a more agile and efficient company. As a result, of these initiatives that took place in January and February 2025, we have significantly reduced debt, improved liquidity, and streamlined our operations. We also took a crucial step in consolidating our position by acquiring the remaining 49% of Acroud Media Ltd., ensuring full control over one of our strongest growth engines. Furthermore, these transactions have resulted in Acroud achieving 100% ownership of all its subsidiary companies, including Acroud Media and the PMG companies. This now means that we fully own the result and cash flow from these businesses, further strengthening our financial position and long-term growth potential.
This transformation means that we are no longer the same company we were a year ago. We are leaner, more resilient, and better positioned to capitalize on market opportunities. With management now as the largest collective owner of Acroud, all interests are fully aligned around driving shareholder value and long-term growth.
Performance & Financial Stability
Revenue for the quarter increased by 5% year-over-year, reaching EUR 10.4 million, with organic growth of 8.9%. While adjusted EBITDA declined 16% year-on-year to EUR
1.2 million, the underlying profitability trends are improving as we transition toward a more efficient operating model. More importantly, we reduced our net loss significantly compared to Q4 2023, demonstrating the early impact of our restructuring efforts.
A key milestone in our restructuring has been the shift in our ownership structure. RAIE Media will hold roughly 39% of Acroud, while PMG will hold 16.6%, making management the largest collective owner of the company. This further aligns leadership with shareholder interests and reinforces our commitment to long-term growth and value creation.
Additionally, by fully integrating PMG and Acroud Media into our structure, we have significantly strengthened our cash flow. Beyond bringing in more cash, this transaction has also reduced our bond-related debt by nearly 44 million SEK, enhancing our financial stability and long-term sustainability.
A Clear Path Forward
With the restructuring complete, we are now fully focused on the future. Acroud is evolving beyond a traditional iGaming affiliate company into a diversified digital marketing and SaaS provider. Our strategy is centered around high-margin, scalable business models, including rich content solutions, performance-based affiliate marketing, and SaaS platforms that empower businesses and creators.
We continue to explore opportunities to expand our offerings and enhance our position in the market. Our focus remains on building a high-growth, high-margin business that delivers long-term value to our stakeholders.
At the same time, we are actively repositioning Acroud as a broader media and technology company. This shift will unlock greater market potential, reduce regulatory risks, and enhance our valuation as we move towards a future beyond traditional gaming affiliation.
Looking Ahead
2024 was a year of transformation, and 2025 will be a year of execution. We have the right structure, the right financial foundation, and the right vision to accelerate growth. Our ambition is clear: to become a high-growth, high-margin digital marketing powerhouse while maintaining strong financial discipline.
I want to extend my gratitude to our team, investors, and partners who have supported us through this journey. The road ahead is filled with opportunities, and we are ready to seize them.
Join the Ride!
Robert Andersson, CEO and President
25 February 2025
Responsible parties
This information constitutes inside information that Acroud AB (publ) is required to disclose under the EU Market Abuse Regulation 596/2014. The information in this press release has been published through the agency of the contact persons below, at the time specified by Acroud AB's (publ) news distributor Cision for publication of this press release. The persons below may also be contacted for further information.
For further information, please contact:
Robert Andersson, President and CEO
+356 9999 8017
Andrzej Mieszkowicz, CFO
+356 9911 2090
ACROUD AB (publ)
Telephone: +356 2132 3750/1
E-mail:info@acroud.com
Website: www.acroud.com
Certified Adviser: FNCA Sweden AB, info@fnca.se
From May 2024 (Q1 Report) Acroud has changed reporting and company language to English. This means that Interim Reports and the correlated press releases will be issued in English only.
About ACROUD AB
ACROUD is a fast-growing global challenger that operates and develops comparison and news sites within Poker, Sports Betting and Casino. Acroud also offers SaaS solutions for the iGaming affiliate industry. In past years, a number of companies have joined the ride and thus several experienced individuals in the industry leads Acroud's journey to become "The Mediahouse of The Future". Our mission is to connect people, Content Creators (Youtubers, Streamers, Affiliates) and businesses. We are growing fast and remain a leading global player in the industry with just over 70 people in Malta, United Kingdom, Denmark and Sweden. Acroud has been listed on the Nasdaq First North Growth Market since June 2018.
