Financial Data and Key Metrics Changes - The company reported record quarterly revenues of $318 million, an increase of $39 million or 14% year-over-year, driven by higher product uptake from existing clients and new client spending [22][24][33] - Adjusted EBITDA for the quarter was $64 million, increasing 31% year-over-year, with an adjusted EBITDA margin expanding approximately 250 basis points to 20.1% [26][29] - The company generated a profit of $49 million compared to a loss of $1.5 million in the same period last year, aided by an unrealized foreign currency gain of $54 million [29] Business Line Data and Key Metrics Changes - Betting technology and solutions revenue grew 12% year-over-year to $259 million, driven by a 10% increase in betting and gaming content [23] - Managed Betting Services revenue increased by 21% year-over-year, reflecting strong momentum in Managed Trading Services with turnover growth of 23% year-to-date [12][24] - Sports content technology and services revenue rose 22% year-over-year to $59 million, with marketing and media services up 16% [24] Market Data and Key Metrics Changes - U.S. revenue grew 30% year-over-year, while revenue from the rest of the world increased by 9% [25][33] - The U.S. sports betting market has expanded significantly since legislation in 2018, growing from approximately $300 million in GGR to nearly $14 billion last year [11] Company Strategy and Development Direction - The company aims to capitalize on the rapid expansion of the global sports betting market, focusing on increasing product penetration and innovation [9][10] - Plans to expand into adjacent markets leveraging existing capabilities and expertise, while investing in technology and AI to enhance growth [10][19] - The company is committed to maintaining a disciplined approach to rights acquisitions, ensuring alignment with strategic goals [67] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued strong operating momentum for the remainder of the year, raising full-year revenue guidance to at least $1.278 billion, representing year-over-year growth of at least 16% [33][34] - The company anticipates strong free cash flow growth for the full year, with a conversion rate above last year's level [31][34] Other Important Information - The company is in the process of acquiring IMG Arena's portfolio, which is expected to enhance its content offerings significantly [17][34] - The company has repurchased approximately $86 million of stock as part of its share repurchase program, reflecting confidence in its growth prospects [32] Q&A Session Summary Question: Insights on the Club World Cup's impact on betting - Management noted that the World Cup was beneficial for Managed Trading Services, with increased interest from media companies to drive traffic from betting [38] Question: Clarification on European leagues rights and IMG acquisition - Management confirmed that European leagues were not included in the IMG acquisition due to their loss-making nature and lack of audiovisual rights [42][67] Question: Impact of new NTS customers on Managed Betting Services - Management highlighted strong growth in Managed Trading Services, attributing it to the onboarding of 50 new clients in 2024 and a robust pipeline of 42 additional clients [45][90] Question: Organic growth rate in the ROW business - Management explained that the growth rate was affected by timing around media campaigns, with strong growth observed in the first half of the year [52] Question: U.S. market health and trends - Management indicated strong growth in the U.S. market, with expectations for continued positive trends in Q3 [102] Question: Client engagement and product uptake - Management reported that 40% of clients are using four or more products, indicating opportunities for upselling and deeper client relationships [107]