Jumbo Interactive achieves impressive growth in FY24

Júlia Moura August 28, 2024

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Jumbo Interactive achieves impressive growth in FY24

Jumbo Interactive, a leading global technology provider for digital lotteries and gaming, has delivered solid financial results for the fiscal year ending 30 June, 2024. Despite facing challenges in some markets, the company recorded significant growth across several key indicators.

? Total Revenue: Increased by 34.2 percent $159.3 million.

? Total Transaction Value (TTV): Grew by 23.7 percent, reaching $1.054 billion.

? Underlying EBITDA: Increased by 30.0 percent to $76.6 million.

? Net Income: Rose by 21 percent to $5.64 million.

Jumbo Interactive experienced total revenue increasing of 34.2 percent year-over-year, reaching $159.3 million. This revenue growth was primarily driven by a 23.7 percent rise in Total Transaction Value (TTV), which totalled $1.054 billion. Additionally, the company’s underlying EBITDA grew by 30 percent, amounting to $76.6 million. This increase highlights Jumbo’s strong capability to generate operating profit after covering production costs and operating expenses. Furthermore, net profit after tax rose by 21 percent to $5.64 million, supported by the increased revenue and enhanced operational efficiency.

Key growth drivers

Jumbo Interactive’s growth was primarily driven by its strong performance in the Australian market, where the OzLotteries platform continued to serve as the company’s main growth engine. Additionally, Jumbo’s international operations, particularly in the United States, played a significant role in boosting the company’s revenue. The company’s ongoing investments in technology further enhanced its products and services, allowing Jumbo to maintain a competitive edge in the market.

Future challenges

Jumbo Interactive faced challenges in the fiscal year, including the decision to exit the German market due to sustained losses, which had a negative impact on overall profitability. Despite this setback, the company is actively focusing on new growth opportunities in international markets and exploring emerging technologies such as blockchain and artificial intelligence. Additionally, Jumbo plans to continue pursuing strategic acquisitions to expand its global footprint and diversify its product offerings.

Outlook for FY25

Jumbo Interactive demonstrated robust financial performance in FY24, despite challenges in certain markets. With a clear strategy and strong market position, the company is well-prepared to capitalize on the growing digital lottery and gaming market. Looking ahead to FY25, Jumbo is optimistic about its prospects, expecting continued growth driven by its technology investments, international expansion, and strategic acquisitions.