River Tech – Presentation of Q3 2022 results and deep dive into River Tech’s product verticals
On October 31st River Tech hosted a presentation of its Q3 results together with a deeper look at its different product areas. River Tech CEO Luke Ciantar and CFO Shawn Bezzina walked through the presentation and financials and together answered the Q&A from the audience.
River Tech grew 22% year-on-year for Q3 2022, driven by organic growth and is on track to be debt free by the end of Q2 2023, with a view to paying dividends thereafter. To better understand River Tech’s business model and future trajectory, catch up on the live event here
The company develops bespoke B2B software development solutions specialising in developing platforms. River Tech has gained a foothold in the iGaming Casino space with a platform allowing betting operators to manage multiple products from a single platform. The latest agreement announced in Oct 2022 is for a multi-website management solution, demonstrating entry into a new market and the opportunity to realise proof of concept. River Tech generates recurring revenues from its work in the form of ongoing service and support as well as licensing revenues.
In Q3 2022, River Tech realised year-on-year revenue growth of 22%, year-on-year EBITDA growth of 18% and year-on-year profit from continuing operations growth of 36%. River Tech realised revenues for the quarter of EUR 3.6m, EBITDA of EUR 2.2m and profit from continuing operations of EUR 2.1m.
As well as presenting the quarterly results, the presentation discusses the ongoing projects and takes a deeper look at the business model. To learn more about River Tech, watch the above event.
Disclaimer: HC Andersen Capital receives payment from River Tech for a DigitalIR /Corporate visibility agreement. /Philip Coombes, 19:45 am, 31 October 2022.