CODERE ONLINE LUXEMBOURG Reports Q2 FY2023 Earnings Results on June 30th, 2023
December 10, 2023
🌥️Earnings Overview
On June 30, 2023, CODERE ONLINE LUXEMBOURG ($NASDAQ:CDRO) announced their second quarter FY2023 earnings results, with total revenue amounting to EUR 74.6 million, a year-on-year rise of 45.6%. Net income saw a dramatic improvement from EUR -16.76 million in the same quarter of the preceding year to EUR -0.3 million.
Share Price
On June 30th, 2023, CODERE ONLINE LUXEMBOURG reported its financial results for the second quarter of FY2023. At the stock market, the opening price of CODERE ONLINE LUXEMBOURG was $3.3, and at the closing price, it was $3.2, representing an increase of 4.0% from the previous closing price of $3.1. The financial report revealed that the company had achieved a significant level of growth compared to the same quarter of last year. This improvement was mainly driven by a strong performance in the online gaming sector, which saw a marked increase in user engagement and revenue generation.
In addition to this, CODERE ONLINE LUXEMBOURG also saw an increase in its customer base, which was driven by an increase in new customers as well as a higher retention rate among existing customers. Overall, the strong performance in Q2 FY2023 has put CODERE ONLINE LUXEMBOURG in a strong financial position for the future. The company is confident that it can continue to deliver on its growth targets for the upcoming quarters, and further strengthen its market position. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for CDRO. More…
| Total Revenues | Net Income | Net Margin |
| 139.12 | -29.93 | -20.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for CDRO. More…
| Operations | Investing | Financing |
| -33.07 | -0.17 | 0 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for CDRO. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 65.09 | 43.26 | 0.48 |
Key Ratios Snapshot
Some of the financial key ratios for CDRO are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 23.4% | – | -12.6% |
| FCF Margin | ROE | ROA |
| -23.9% | -47.6% | -16.9% |
Analysis
GoodWhale has conducted an analysis of CODERE ONLINE LUXEMBOURG’s financials. Our Star Chart review indicates that CODERE ONLINE LUXEMBOURG has an intermediate health score of 6/10 which is a positive sign with respect to its cashflows and debt. We believe the company is likely to pay off debt and fund future operations. CODERE ONLINE LUXEMBOURG is classified as a ‘cheetah’. This type of company is characterized by high revenue or earnings growth although it may be considered less stable due to lower profitability. Investors who are interested in this type of company should look at CODERE ONLINE LUXEMBOURG’s strengths in asset growth and weaknesses in dividend and profitability. More…
Peers
The company operates in Europe, Latin America, and Spain. The company offers online casino, sports betting, and poker. Codere Online SA is a subsidiary of Codere SA. The company was founded in 1980 and is headquartered in Luxembourg. The company’s main competitors are bet-at-home.com AG, Golden Nugget Online Gaming Inc, Rush Street Interactive Inc.
– bet-at-home.com AG ($LTS:0RIP)
Assuming you are asking for bet-at-home.com AG:
bet-at-home.com AG is a gaming and sports betting company that offers its services online. The company was founded in 1999 and is headquartered in Dusseldorf, Germany. bet-at-home.com AG operates in the gaming and sports betting industry. The company offers sports betting, live betting, casino games, and poker. It also provides live streaming of sporting events. The company has a market cap of 30.42M as of 2022 and a Return on Equity of 13.09%.
– Golden Nugget Online Gaming Inc ($NYSE:RSI)
Rush Street Interactive Inc is a gaming company that operates online casinos and sports betting websites. The company has a market cap of 237.28M and a ROE of -121.42%. The company’s online casinos offer a variety of casino games, including slots, blackjack, roulette, and poker. The company’s sports betting websites offer a variety of sports betting options, including football, basketball, baseball, and hockey.
Summary
CODERE ONLINE LUXEMBOURG reported strong financial results for the second quarter of FY2023, with total revenue increasing 45.6% year-over-year and net income improving significantly from a loss to a small positive number. These results caused the stock price to move up on the same day, suggesting that investors have confidence in the company’s future. Going forward, investors should keep a close eye on CODERE ONLINE LUXEMBOURG as they continue to report solid numbers, as this could lead to further stock price appreciation.
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