Core Insights - Codere Online reported a strong start to 2025, with net gaming revenue reaching €57.0 million in Q1, an 8% increase year-over-year [3][5] - The company is on track to meet its 2025 net gaming revenue outlook of €220-230 million and adjusted EBITDA outlook of €10-15 million [4][5] Financial Performance - Total revenue for Q1 2025 was €54.3 million, with net gaming revenue at €57.0 million, reflecting an 8% increase compared to Q1 2024 [5][8] - In Mexico, net gaming revenue grew by 15% to €30.5 million, while Spain saw a slight decline to €21.9 million, down 2% [2][3] - The average monthly active players increased by 13% to 161.3 thousand, with significant growth in Mexico at 31% [2][3] Operational Metrics - The total cash position as of March 31, 2025, was €41.8 million [5] - The company repurchased $0.5 million of its shares under a $5.0 million share buyback plan [5][9] Compliance and Governance - Codere Online regained compliance with Nasdaq listing requirements as of May 15, 2025 [9] - The company is actively working to complete the audit of its 2024 financial accounts and expects to file the 2024 annual report by the end of May 2025 [9]

网易 20250515 摘要 • NetEase's Q1 2025 shows a 7% YoY revenue increase, driven by new game successes and flagship titles, boosting gaming and value-added services revenue by 12% YoY to RMB 24.0 billion. This growth is fueled by global expansion and diversification of its game portfolio. • "Marvel Rivals" has sustained strong global player engagement, reclaiming the top spot on Steam's Global Top Seller chart after Season 2's launch in April, which introduced new maps, heroes, and themes. This demonstrates NetEa ...

Roblox (RBLX 3.15%) has nearly 100 million daily active users on its gaming platform on average. And many of those users are young school-aged kids who are starting to get into gaming. There's no need for an expensive console with Roblox; a phone, tablet, or computer will gain you access to the platform. And with its users making the content, there's a wealth of options for users interested in using the platform. But the company still struggles with profitability and faces big question marks about its long- ...

Core Viewpoint - DraftKings' stock price has rebounded from a 9-month low, with expectations of reaching multi-year highs by the end of 2025 due to strong business performance, leverage building, and a healthy balance sheet [1] Financial Performance - DraftKings reported a 19.5% revenue growth in Q1, totaling $1.41 billion, driven by user engagement, new users, and acquisitions like Jackpocket [5] - Monthly unique players (MUP) increased by 28%, with a 20.1% rise in Sportsbook revenue, 14.5% in iGaming, and 45.7% in Other segments [5] - Adjusted earnings were $0.12, maintaining financial health despite a slight revenue miss compared to consensus [7] Market Opportunities - The acquisition of Jackpocket presents both challenges and opportunities, as it initially lowers revenue per user but offers potential for margin improvement over time [3] - The expected entry into Missouri and the growth potential of iGaming, which currently serves only 11% of the U.S. population, are significant growth drivers [4] Stock Forecast and Analyst Ratings - The 12-month stock price forecast for DraftKings is $55.04, indicating a 45.10% upside, with a Moderate Buy rating based on 28 analyst ratings [6] - Analysts have mixed responses, with some adjusting price targets, but the average target remains above current levels, suggesting potential for future gains [10][11] Trading Dynamics - The stock is showing bullish momentum, with critical resistance near $38.25, and could potentially retest all-time highs by late summer or early fall [12]

GameStop Corp. (GME) , which sparked the meme-stock revolution, continues to defy conventional market logic. While its fundamentals have yet to catch up with its lofty valuation, retail investor enthusiasm remains strong. Even amid sharp swings and uncertainty over its future trajectory, GME still trades at a premium. As speculative interest lingers, investors are once again at a crossroads: Should you buy into the hype, hold out for more gains or exit before the momentum fades?From a valuation standpoint, ...

Financial Data and Key Metrics Changes - The company reported a record quarterly revenue of €311 million, representing a 17% year-over-year increase [8][24] - Adjusted EBITDA increased by 25% year-over-year to €59 million, with adjusted EBITDA margins expanding by 20 basis points to 19% [27][30] - Free cash flow generated during the quarter was €32 million, compared to breakeven cash flow in the same period a year ago, with a free cash flow conversion rate of 54% [31][32] Business Line Data and Key Metrics Changes - Technology and solutions revenue reached €250 million, growing 14% year-over-year, driven by a 13% increase in betting and gaming content [26] - Sports content, technology, and services revenue increased by 33% year-over-year to €61 million, led by a 36% growth in marketing and media services [26] - Managed betting services grew by 16% year-over-year, reflecting increased turnover and higher trading margins [26] Market Data and Key Metrics Changes - U.S. revenue grew by 31% and now represents 28% of total company revenues, indicating strong growth in the U.S. market [10][27] - The company is capitalizing on the expanding global sports betting market, which is expected to grow at a CAGR of 11% through 2027 [8][9] - Revenue from the rest of the world grew by 12% year-over-year, demonstrating broad-based growth across geographies [26] Company Strategy and Development Direction - The growth strategy is driven by four key pillars: global market expansion, increasing take rates, unlocking adjacent market opportunities, and driving innovation through technology and AI [8] - The company is focused on enhancing its product offerings, including the introduction of next-generation products to drive fan engagement [11][14] - The pending acquisition of IMG Arena's sports rights portfolio is expected to enhance growth strategy and strengthen premium content offerings [18][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to weather uncertainties, supported by approximately €2 billion of contractual revenue commitments locked in over the next two years [21] - The company anticipates continued strong revenue and EBITDA growth, with guidance for at least €1.273 billion in revenue and €281 million in adjusted EBITDA for 2025 [33][34] - Management noted that the U.S. market is still in an education phase regarding sports betting, but they expect adaptation to international trends [71][75] Other Important Information - The company completed a secondary offering, purchasing €65 million worth of shares under its existing share repurchase program, bringing total repurchases to €86 million [19][32] - The company is well-positioned to invest in long-term growth potential while returning capital to shareholders [32] Q&A Session Summary Question: What drove the U.S. growth of 31% in Q1? - Management attributed the growth to executing a well-defined strategy, leveraging a large portfolio of sports content, and strong monetization of products [39] Question: Is there any softness in the industry or player demographics? - Management indicated that the U.S. market is growing rapidly, with a significant portion of revenue coming from betting-related activities [40] Question: What are the expectations for the IMG acquisition? - Management confirmed that expectations for EBITDA accretion remain unchanged, with the deal expected to close by the end of Q3 or early Q4 [47][48] Question: What is the roadmap for computer vision data capture? - Management stated that while full automation is not feasible for all sports, they aim to cover about 90% of events, enhancing product offerings with more data points [64] Question: What are the biggest variables that could push revenue above the 15% CAGR? - Management highlighted market expansion, new product opportunities, and growth in adjacent markets as key factors that could drive higher revenue growth [92][94] Question: How durable is the growth in marketing and media services? - Management expressed confidence in the sustainability of growth, driven by better returns for clients and increased spending on marketing campaigns [96][99]

J P M O R G A N North America Equity Research 07 May 2025 Neutral ▲Price Target (Dec-25):$355.00 Prior (Dec-25):$270.00 Internet - Mid & Small Cap Cory A Carpenter AC (1-212) 270-8125 cory.carpenter@jpmorgan.com Daniel Pfeiffer (1-212) 622-0161 daniel.pfeiffer@jpmchase.com Andrew Watts (1-212) 622-9400 andrew.watts@jpmorgan.com J.P. Morgan Securities LLC Key Changes (FYE Dec) APP, APP US Price (07 May 25):$303.46 | | Prev | Cur | | --- | --- | --- | | Revenue - 25E ($ mn) | 4,957 | 5,410 | | Revenue - 26E ( ...

Super Group (SGHC) Q1 2025 Earnings Call May 09, 2025 07:45 AM ET Company Participants Nkem Ojougboh - Head of IRNeal Menashe - CEO & Board of DirectorJed Kelly - Managing Director - Equity ResearchNeal Menashe - Chief Executive OfficerClark Lampen - Managing DirectorAlinda Van Wyk - CFO & Director Conference Call Participants Jason Tilchen - Director & Senior Equity research AnalystBernie Mcternan - Senior Research AnalystMike Hickey - Equity Research Analyst Operator Hello, everyone, and thank you for joi ...

Turtle Beach (HEAR) Q1 2025 Earnings Call May 08, 2025 05:00 PM ET Company Participants Jacques Cornet - PartnerCris Keirn - CEOMark Weinswig - CFO Conference Call Participants Anthony Stoss - AnalystSean McGowan - MD & Senior Research AnalystMartin Yang - Senior AnalystNone - Analyst Operator and welcome to Turtle Beach Q1 twenty twenty five Earnings Conference Call. At this time, all participants are in a listen only mode. A brief question and answer session will follow the formal presentation. As a remin ...

Turtle Beach (HEAR) Q1 2025 Earnings Call May 08, 2025 05:00 PM ET Company Participants Jacques Cornet - PartnerCris Keirn - CEOMark Weinswig - CFO Conference Call Participants Anthony Stoss - AnalystSean McGowan - MD & Senior Research AnalystMartin Yang - Senior AnalystNone - Analyst Operator and welcome to Turtle Beach Q1 twenty twenty five Earnings Conference Call. At this time, all participants are in a listen only mode. A brief question and answer session will follow the formal presentation. As a remin ...