B90 Holdings has reported significant financial gains for the first half of 2024, demonstrating the effectiveness of its recent strategic shift. With revenue totaling €1.4 million ($1.6 million), up by an impressive 83% year-on-year, the company has substantially narrowed its net loss from €1.8 million to just €0.3 million. This period marks a pivotal moment in B90’s history, driven by the Group’s transition from a B2C (Business-to-Consumer) model to a B2B (Business-to-Business) operation.

B90 Holdings Reports 83% Revenue Growth in H1 2024 as B2B Model Drives Profitability

B90’s Strategic Shift to B2B and Its Impact on Financial Performance

In late 2023, B90 made a conscious decision to pivot toward B2B operations, focusing on affiliate marketing and lead generation. This move was key to reversing the financial strain experienced in previous periods. The relaunch of Bet90.com as a B2B affiliate platform has played a crucial role in boosting revenue, utilizing subsidiary brands such as Emwys, Oddsen.nu, and Tippen4you. These brands employ sophisticated SEO techniques to generate high-quality leads and further strengthen B90’s financial standing.

Affiliate Marketing via Subsidiary Brands

B90’s ability to harness the potential of its affiliate networks has been fundamental in driving traffic and conversions. Oddsen.nu, a brand acquired by B90 in September 2023, officially commenced its global affiliate operations in April 2024. This affiliate site quickly became an essential part of B90’s B2B model, utilizing content marketing and SEO expertise to engage users and generate significant affiliate revenue.

Furthermore, Oddsen.nu launched its highly anticipated King of Euro 2024 competition, offering a €9,000 grand prize. The event created a buzz among users, increasing user engagement and strengthening the platform’s position in the sports betting affiliate market. This competition was highlighted as a major success in B90’s H1 2024 financial report, noted as ‘an excellent opportunity to engage with key audiences.’

Improved Profitability and Cost Management

In addition to substantial revenue growth, B90 achieved notable improvements in its profitability. EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) turned positive, reaching €0.2 million in the first half of 2024, compared to a €1.3 million loss in the previous year. This marks a significant turnaround for the Group, signaling the first sustained period of profitability at the EBITDA level in recent years.

Reduction in Administrative and Marketing Costs

One of the critical factors contributing to the improved financial performance was a significant reduction in administrative expenses. In H1 2024, these expenses were slashed from €0.9 million to €0.3 million, demonstrating effective cost management and operational efficiency. Similarly, marketing and selling expenses were nearly halved, dropping from €0.4 million to €0.2 million.

The careful management of these costs, combined with revenue growth from B90’s B2B operations, allowed the company to reduce its net loss to just €0.3 million, a significant improvement over the €1.8 million loss reported in the first half of 2023.

B90’s Outlook for the Future: Optimism and Continued Growth

Reflecting on the first half of 2024, Ronny Breivik, Executive Chairman of B90 Holdings, expressed optimism about the company’s future trajectory. Breivik emphasized that the past six months have been transformational for B90, with the Group successfully achieving consecutive months of profitability at the EBITDA level.

Strategic Investments in B2B Operations

Breivik stated, “This has been a transformational six months for B90, with the Group achieving consecutive months of profitability at the EBITDA level, marking a significant milestone as we build a strong foundation for sustainable growth.” He further highlighted that this EBITDA profitability had continued into the second half of the year, underlining B90’s commitment to sustained focus on B2B operations and strategic investments.

B90 plans to continue expanding its B2B operations and leverage its affiliate platforms, including Oddsen.nu, to engage new markets and diversify revenue streams. Breivik remains confident that these strategic decisions will lead to long-term growth and deliver value for B90’s shareholders.

Conclusion: The Financial Results

B90 Holdings’ financial results for the first half of 2024 highlight the company’s successful pivot to a B2B affiliate business model, which has driven significant revenue growth and improved profitability. The relaunch of Bet90.com, coupled with the acquisition and development of Oddsen.nu, has proven instrumental in building a sustainable foundation for future growth. With continued focus on affiliate marketing, cost management, and strategic investments, B90 is well-positioned to capitalize on emerging opportunities in the affiliate sector.

FAQs About B90 Holdings Financial Results for H1 2024

1. What is the total revenue reported by B90 Holdings for the first half of 2024?

B90 Holdings reported total revenue of €1.4 million ($1.6 million) for the first half of 2024, representing an 83% increase year-on-year.

2. How much did B90 Holdings reduce its net loss by in H1 2024?

B90 Holdings reduced its net loss from €1.8 million in H1 2023 to €0.3 million in H1 2024.

3. What caused B90 Holdings’ improved financial performance?

The improvement is primarily due to B90’s strategic shift from a B2C model to a B2B model, which focused on affiliate marketing and lead generation. Additionally, effective cost management and reduction in administrative and marketing expenses contributed to the positive results.

4. What is B90 Holdings’ EBITDA for the first half of 2024?

B90 reported an EBITDA of €0.2 million in H1 2024, a significant turnaround from a €1.3 million loss in the same period the previous year.

5. How did B90 Holdings cut down its administrative and marketing expenses?

Administrative expenses were reduced from €0.9 million in H1 2023 to €0.3 million in H1 2024, while marketing and selling expenses were halved from €0.4 million to €0.2 million.

6. What is the significance of the King of Euro 2024 competition for B90 Holdings?

The King of Euro 2024 competition launched by Oddsen.nu offered a €9,000 grand prize, boosting user engagement and contributing to the success of B90’s affiliate marketing strategy in H1 2024.

7. What has B90’s Executive Chairman, Ronny Breivik, said about the company’s financial results?

Ronny Breivik emphasized that H1 2024 was a transformational period for B90, with the company achieving consecutive months of EBITDA profitability and laying a strong foundation for sustainable growth.

8. What is B90 Holdings’ outlook for the future?

B90 Holdings remains optimistic about future growth, with plans to expand its B2B operations, continue strategic investments, and build long-term value for shareholders.