Gaming solutions provider NYX Gaming Group has announced it is to use its ongoing acquisition and integration strategy to achieve further expansion after it posted significant year-on-year growth across key financials in 2014.
Full-year revenue amounted to $27.3 million (€25.3 million), up 46% on the $18.7 million posted in the previous 12 months.
Gross profit jumped 49% from $16.2 million in 2013 to $24.1 million in the most recent 12-month period, while gross margin improved from 86.7% to 88.3%.
Elsewhere, adjusted earnings before interest, tax, depreciation and amortisation totalled $6.1 million, up 43% from $4.3 million in 2013.
Despite posting a net loss of $7 million, up from $1.9 million in the previous year, NYX said this increased figure was largely a result of $6.6 million in acquisition, restructuring and public listing expenses in 2014.
“Our expertise in the gaming industry combined with our proven acquisition and integration strategy positions us well for future growth,” NYX chief executive officer Matt Davey said.
“We are pleased with our success to date and remain committed to driving shareholder value.”
Arthur Hamilton, chief financial officer, added: “Our 46% increase in revenue and 49% increase in gross profit demonstrates the strength and scalability of our business.
“We continue to benefit from recurring revenue received from royalties and licensing fees which represents over 80% of our total revenue.
“Our cash flow generation remains solid, and we look forward to continuing building on our strong balance sheet and maintaining financial flexibility.”
source : www.igamingbusiness.com