Financial Data and Key Metrics Changes - The company reported a 38% year-on-year increase in group revenue, marking the strongest quarter of revenue growth since Q1 2022 [5] - Group-adjusted EBITDA increased by 32% year-on-year to $34 million, representing a 20% margin [5][24] - Operating cash flow for the quarter was $27 million, indicating seasonality in cash flow, which typically turns positive in the second half of the year [23] Business Line Data and Key Metrics Changes - Betting revenue grew by 28% year-on-year, primarily driven by growth with existing customers [6] - Media revenue surged nearly 90% year-on-year to $42 million, setting a new quarterly record [12] - The number of sportsbook customers utilizing the BetVision product increased from six to over 100 in one year, demonstrating significant growth [11] Market Data and Key Metrics Changes - The U.S. market is driving most of the growth, with a 19% revenue increase in the more mature European business year-to-date [21][22] - In-play betting represented 30% of total NFL handle, aligning with expectations, and is expected to continue driving revenue growth [9] Company Strategy and Development Direction - The company is focused on expanding its content coverage and increasing product adoption in the online sports betting industry [25] - The strategic acquisition of Sports Innovation Lab is enhancing the company's advertising capabilities and audience understanding [15][50] - The company is optimistic about the long-term potential of its media business, with a unique set of sports data and audience insights driving superior returns for advertising partners [17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to capitalize on emerging opportunities in prediction markets, contingent on regulatory developments [19][44] - The company anticipates strong growth in both betting and media segments, raising revenue guidance from $645 million to $655 million for the full year [24] - Management highlighted the importance of integrity solutions and official data in the evolving market landscape [46] Other Important Information - The company plans to provide a detailed overview of its business and strategic outlook at the upcoming Investor Day on December 3rd [5][25] - The company is experiencing a timing mismatch between expense and revenue recognition due to new contracts, which is expected to resolve in Q4 [22][30] Q&A Session Summary Question: Can you quantify the impact of the Serie A and European leagues contracts? - Management noted a revenue timing mismatch but did not provide specific quantification [31] Question: What led to the media segment's strong performance? - The growth was attributed to agency partnerships and strong returns from advertising campaigns [40] Question: How does the company view the growth of the betting tech business? - Management expects strong growth above market rates, driven by product rollout and integration [38] Question: What is the company's stance on prediction markets? - Management sees potential opportunities in prediction markets but emphasizes the need for regulatory compliance [44] Question: How is the company addressing the integrity of its data? - The focus remains on providing official data and maintaining transparency in the market [46] Question: What is the outlook for free cash flow in Q4? - Management expects strong organic growth in free cash flow, particularly in the second half of the year [64] Question: How is the company approaching the NFL advertising inventory? - Management reported that NFL ad inventory has been sold out, indicating strong demand [82]