How did BRAG's Q4 forecast compare to past trends?

Bragg Gaming Group Inc. (BRAG) faced a challenging fourth quarter (Q4) in 2024, with operational losses and declining revenue compared to the previous year. However, there are signs of potential growth and strategic initiatives that could positively impact the company's future performance. 1. **Revenue Decline**: BRAG's Q4 2024 revenue decreased by 1.4% to €23.36 million ($25.2 million), down from €23.68 million ($25.5 million) in the same period of the previous year. This decline was primarily due to revised commercial terms with a key strategic partner that affected revenue recognition. 2. **EBITDA and Gross Profit**: The company's EBITDA grew to €3.33 million ($3.6 million) from the previous year's €2.68 million, while adjusted EBITDA decreased by 23.7% to €2.79 million ($3.0 million). Gross profit fell by 7.3% to €12.0 million ($12.9 million) compared to the previous year's €12.95 million. 3. **Market Challenges**: BRAG faced challenges in certain markets due to regulatory changes, which impacted revenue growth. 4. **Strategic Initiatives**: Despite the challenges, BRAG has made significant strides in expanding its market reach, particularly in North America and Brazil. The company also established strategic partnerships, such as the content development and technology leasing agreement with Caesars Entertainment and the expansion into Quebec, Canada. 5. **Future Outlook**: For fiscal 2024, BRAG expects revenue to rise by 9.1% to 16.6% to a range of €102 million to €109 million ($109.7 million to €117.2 million), with adjusted EBITDA increasing by up to 21.7% to a range of €15.2 million to €18.5 million ($16.3 million to €19.8 million). These projections suggest a potential recovery and growth in the coming year. In conclusion, while BRAG faced a difficult Q4 in 2024, the company's strategic expansions and partnerships provide a positive outlook for the future. The expected revenue and EBITDA growth in 2024 indicate that BRAG is positioning itself for potential recovery and growth, despite the current challenges.