first_img KCS-content whatsapp Tuesday 14 December 2010 8:11 pm Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap Anti-scar treatment firm Renovo’s losses have narrowed – thanks to lower operating costs from restructuring. The company said it remains well funded. Renovo, which had £51.8m in cash, cash equivalents and investments in September, said it would have at least £30m in cash when it reports data from a late-stage trial of its key anti-scarring product Juvista in the first half of next year. Pre-tax loss for the year to September was £8.6m, compared with £20.2m a year ago. Revenue rose more than three times to £16.2m. Operating expenses, excluding revenue-related research and development, fell by 22.4 per cent to £19m as the company reduced staff and pre-clinical programmes. Show Comments ▼center_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Heraldthedelite.comNetflix Cancellations And Renewals: The Full List For whatsapp Renovo sees its losses narrow Share Tags: NULLlast_img read more

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter “As a result, we are now in a position to scale investment in product and marketing with a particular focus on the fast-growing US markets and the expansion of our sports offering. 19th November 2020 | By Robert Fletcher Topics: Finance Marketing & affiliates Q3 results 2020 Affiliates “The organisation has proven that it is capable of delivering outstanding results while working remotely. This gives us the confidence to increase the pace of hiring even while adhering to restrictive public health measures.” Revenue for the three months to September 30 amounted to €6.3m, compared to €4.2m in the corresponding period last year. Operating profit improved 148.2% to €6.7m and was also able to benefit from €906,000 in finance income, meaning profit before tax reached €7.6m, up 533.3% on last year. Email Address The affiliate also noted that earnings before interest, tax, depreciation and amortisation (EBITDA) for Q3 rocketed by 604.3% to €3.3m, while EBITDA excluding non-recurring costs jumped 441.0% year-on-year to €3.3m. Group posts €2.8m Q3 profit  “Our technology platforms that went live earlier in the year have significantly improved both commercial metrics across our sites and operational efficiencies,” chief executive Charles Gillespie (pictured) said. Affiliates Looking at costs for the period and total operating expenses were cut by 18.9% to €3.1m. Gambling,com Group said earned revenue from organic traffic sources – covering search engine optimisation and direct navigation – reached €6.3m in Q3, up 56.0% on the previous year. Looking at the year-to-date performance, revenue in the nine months to the end of September was €15.8m, up 14.5% from €13.8m at the same point last year. Earned revenue was up 22.0% to €15.5m but paid revenues fell 78.0% to €240,000. paid €283,000 in income tax in Q3 and also included a €44,000 deferred tax payment, meaning total tax paid was €327,000. As such, net profit for the period came to €2.8m, a significant improvement on Q3 2019’s €57,000 loss. Group has reported a €2.8m (£2.5m/$3.3m) net profit for its third quarter after a strong performance from its organic traffic services helped to drive revenue up 52.2% year-on-year. EBITDA jumped 118.8% year-on-year to €7.0m and adjusted EBTDA excluding non-recurring costs also climbed 114.7% to €7.3m. Total operating costs were down 18.0% to €9.1m. “I am confident our increasingly robust technical and product foundation will enable us to continue to deliver market-leading organic growth over the coming months and years.” Revenue derived from locally regulated markets accounted for 68.0% of total revenue in the quarter. However, paid revenue from bought traffic sources fell 75.0% and comprised of legacy payments only, as paid traffic remained paused in Q3 after first being halted in Q1. paid €698,000 in income tax and €68,000 in deferred tax charges, which left a comprehensive profit of €6.8m for the period, up 385.7% from €1.1m at the same point in 2019. Gambling,com Group benefitted from a saving of €141,000 by not spending on paid revenue, and though staff costs edged up, other operating expenses fell 29.5% to €951,000. “We have seen exceptional organic growth over the last two quarters and exited Q3 with our strongest momentum yet,” Gillespie said. Tags: This resulted in an operating profit of €3.2m, up 856.4% from €337,000 at the same point in 2019. When also accounting for finance costs, including €308,000 in interest on borrowing, profit before tax was €3.1m, compared to a €79,000 loss last year.last_img read more