NeoGames SA has announced its financial results for the fourth quarter and fiscal year ended December 31, 2020.
The provider of end-to-end ilottery solutions declared that it achieved Q4 2020 revenues of $14m, an increase of 56.4% year-over-year (2019: $9m).
The company’s share of NPI revenues was $4.5m in Q4 2020, an 391% improvement compared to last year’s figures (Q4 2019: $0.9m). Its total revenues and its share of NPI’s revenues in the quarter were $18.5m, up 87.3% YoY (Q4 2019: $9.9m).
During the quarter, NeoGames’ comprehensive income was $2.5m, or $0.11 per share, compared to a loss of $0.6 million, or $0.03 per share, in the same period in 2019.
The company’s adjusted EBITDA was $9.0m during the quarter, an improvement of 160.6% YoY (Q4 2019: $3.5m). Its network NGR was $142m during the quarter, an increase of 125.6% YoY (Q4 2019: $63m).
CEO Moti Malul commented: “We are proud to be reporting our results for the first time as a publicly-traded company. The past year was pivotal for NeoGames and the execution of our strategic goals. The year started with a six-year extension of our contract with Sazka, our largest European customer. We built on that momentum with the expansion of our NeoPollard JV customer, the Virginia Lottery, into a full ilottery program that launched on July 1st.
“Next, we announced the first contract in Canada with AGLC in Alberta. The program launched rapidly in early October and is off to a successful start. We closed the year with the recently announced contract extension with our largest customer, the Michigan State Lottery, through July 2026. 2020 has definitely been transformational for NeoGames.”
As for the fiscal year, NeoGames reported revenues of $49.2m for FY2020, an increase of 48.8% YoY (FY2019: $33.1m).
The company’s share of NPI revenues was $9.5m for FY2020, rising by 387.5% YoY (FY2019: $2m). Its total of revenues and its share of NPI’s revenues came to $58.7m during the full year of FY2020, up 67.7% YoY (FY2019: $35.0m).
NeoGames’ comprehensive income for FY2020 came in at $6.5m, or $0.29 per share, compared to the loss of $3.9 million, or $0.18 per share, for the prior year.
In 2020, the company’s adjusted EBITDA was $28.7m, representing a growth of 141.7% YoY (FY2019: $11.9m). Network NGR meanwhile came in at $448m, rising by 120.7% YoY (FY2019: $203m).
Malul continued: “The year also marks positive signs for the growth of ilottery around the world. As regulators realise the potential value ilottery can provide to tightening governmental budgets, particularly during the uncertain times brought on by the COVID-19 pandemic, NeoGames continues to represent a trusted provider with superior technology and premium content driving the most profitable ilottery programs.
“In the US ilottery market, according to Eilers & Krejcik Gaming, a leading gaming industry research firm, our NeoPollard JV is the market leader with a 70% market share of ilottery sales during the fourth quarter of 2020. Entering 2021, on the back of our successful IPO, we believe NeoGames remains well-positioned to continue to capitalize on the current landscape as a leader in the rapidly expanding global ilottery market.”
Last month, NeoGames launched its portfolio of einstant games with Austrian Lotteries (Österreichische Lotterien) on its win2day online gaming site.
