Jumbo Interactive revenue up 34.2% in FY24

Revenue reached AU$159.3m.

Australia.- Jumbo Interactive has today (August 23) announced results for the full year ended June 30, 2024. It posted revenue of AU$159.3m (US$107m), up 32.2 per cent year-on-year and underlying EBITDA of AU$76.6m (US$51.4m), up 30 per cent. Total transaction value (TTV) was up 23.7 per cent to AU$1.05bn (US$707m).

Lottery retailing saw a 21.1 per cent increase in TTV and a 35 per cent increase in revenue. EBITDA increased 39.6 per cent to AU$42.6m, reflecting a revenue margin of 34.5 per cent. In the software-as-a-service (SaaS) segment, TTV was up 18.6 per cent and external revenue grew 15.9 per cent. Underlying EBITDA increased by 18.4 per cent to AU$32.8m, reflecting a margin of 64.6 per cent. The company said the minor margin decline was due to higher employee and technology costs.

Jumbo’s Managed Services segment, which provides digital lottery platforms and management services to charities and worthy causes, recorded EBITDA of AU6.7m, up 8.3 per cent, equivalent to an EBITDA/revenue margin of 26 per cent. The company said the lower margin mainly reflected the investment it has made in “transitioning to a new leadership team and setting the foundations for long-term growth.”

Jumbo Interactive CEO and founder Mike Veverka said: “The 2024 financial year is Jumbo’s most successful to date with over AU$1bn in transaction value achieved and a 30 per cent increase in underlying EBITDA.

“For the first time in our history, we exceeded 1 million active players in our Lottery Retailing segment, highlighting our ability to engage with our existing players and acquire new players during periods of large jackpots. Our significantly larger active player base, focus on player experience, innovation, and stable service fee to The Lottery Corporation, mean we are very well positioned to grow in FY25.”