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Raketech Interim report Q1 2019

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Raketech Interim report Q1 2019

 

FIRST QUARTER 2019

  • Total revenues amounted to EUR 8.7 million (EUR 4.9 million) representing an increase of 78.2%. Total revenues include other non-operating income of EUR 2.3 million (nil) related to a waived liability regarding one related party during the quarter which is recognised as other income.
  • Revenues excluding other income increased by 31.6% to EUR 6.5 million (EUR 4.9 million).
  • Organic growth amounted to 21.5% (10.2%).
  • Adjusted EBITDA increased by 38.3% to EUR 3.5 million (EUR 2.5 million), corresponding to a margin of 54.1% (51.5%).
  • Adjusted operating profit amounted to EUR 2.8 million (EUR 2.3 million), corresponding to a margin of 43.4% (47.5%).
  • Profit for the period amounted to EUR 4.7 million (EUR 0.9 million).
  • Earnings per share amounted to EUR 0.12 (EUR 0.04).
  • NDCs (New Depositing Customers) increased by 76.1% to 28,607 (16,243).

EVENTS DURING Q1 2019

  • On 4 March, the outstanding debt of EUR 7.7 million from the previous loan facility was repaid as a final step in optimising the Group’s capital structure post-IPO.
  • On 31 March, an agreement with one related party was reached to waive the amount of EUR 2,281,714. This amount is recognised as other income within the consolidated statement of comprehensive income.

SUBSEQUENT EVENTS AFTER THE END OF THE PERIOD

  • On 24 April, Oskar Mühlbach was appointed as Chief Operating Officer.
  • On 26 April, Raketech acquired the assets of the leading Finnish sport listing website TVmatsit.com for an initial purchase price of EUR 1.6 million plus an additional EUR 0.3 million payment over the next 24 months based on agreed performance targets.

CEO MICHAEL HOLMBERG COMMENTS THE QUARTER

”The beginning of the year has been characterised by the ongoing stabilisation phase in the Swedish gaming market, following the introduction of the new gambling legislation in January 2019. I am therefore happy to announce that we are delivering a good quarter and that we maintain our focus on organic growth and geographical expansion.

Revenues increased by 32 per cent compared to the first quarter of 2018, amounting to EUR 6.5 million. Adjusted EBITDA increased by 38 per cent to EUR 3.5 million, corresponding to a margin of 54 per cent. Organic growth amounted to 22 per cent of the revenues, and the key driver for this growth is higher traffic volumes, especially for our casino products and our TV sports guides.

While maintaining our position as a market leader in Sweden, we are simultaneously increasing our focus on geographical expansion. We have global ambitions and prioritise markets that are important to our partners, the gaming operators. As such, we are further strengthening our organisation for future expansion, both in terms of employees and technical platforms.

We are committed to creating sustainable growth across all of our markets – current as well as future markets. I am confident in our ability to continue strengthening Raketech’s position as a leading affiliate with innovative and responsible services high on the agenda.”

PRESENTATION FOR INVESTORS, ANALYSTS AND THE MEDIA

CEO Michael Holmberg and CFO Andreas Kovacs will present the report and answer questions in an audiocast at 9.00 a.m. CET on 22 May. The presentation will be held in English and can be followed online via https://tv.streamfabriken.com/raketech-q1-2019. To participate by phone, please dial +46 8 505 583 51 (SE) or +44 333 300 92 67 (UK).

 

About Raketech Group:

Raketech is a leading online affiliate and content marketing company, with expertise in delivering comparison services for sports and gaming, online guides, communities and social media products in primarily the Nordic region and the UK. Through some 20 flagship brands, Raketech guides sports and gaming enthusiasts to the best possible services, while also delivering high-quality traffic and leads to its partners. Raketech grows both organically and via acquisitions and operates its business in accordance with a clear framework for responsible affiliate marketing services. The company’s shares are listed in Nasdaq First North Premier with ticker RAKE. Erik Penser Bank AB is the company’s Certified Adviser ([email protected] / +46 8 463 83 00). For more information, visit www.raketech.com.

News

Behind the Game What Makes Products Convert

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In iGaming, registration does not bring value — the result appears only when the user makes the first deposit. Therefore, the Reg2Dep metric plays a key role: it shows how much you will earn from each attracted user.

Behind the Game is a series of expert materials where specialists from the N1 Partners affiliate program across different teams break down how strong iGaming products are built from the inside.

In this article, you’ll learn how the product affects Reg2Dep: what helps bring the player to the deposit, where the conversion is lost, and which solutions provide stable growth.

Top 3 must-have factors of a successful iGaming product: what has the strongest impact on Reg2Dep today?

Alignment between the offer and the player’s expectations (shaped by the traffic), including proper game selection in the lobby, plays a major role.

It’s also important to pay attention to bonus policy. The bonus offer must match the audience’s expectations and be easy to understand.

Speed is equally important — everything should be tested, from page loading to payment confirmation. Alignment between the offer and the player’s expectations (shaped by the traffic), including proper game selection in the lobby, also plays a major role.

Top-3 factors that stand out:

  • First, the product must provide the maximum number of local payment methods with high approval rates. 
  • Second, it needs strong retention and VIP retention — achieved through CRM, bonus mechanics, and gamification. 
  • And of course, the foundation is a stable, fast platform without technical issues.

If you want to work right away with products where this system is already well-established and generates stable profit, join N1 Partners!

What do partners need to know when choosing a product and which red flags can’t be ignored?

You should pay attention to all product weaknesses, especially:

  • Low payment approval rates.
  • Confusing or irrelevant bonus terms.
  • Slow support and weak brand reputation in the community.
  • Unstable website performance on mobile devices.

Most often, the quality of the payment infrastructure and the availability of local solutions are underestimated. 

Partners also don’t always consider retention depth and VIP segment management, as well as basic factors like page load speed and product stability.

Which onboarding elements determine whether a player makes the first deposit and where do users most often drop off? 

Players don’t like to wait — fast and simple registration is crucial (1–2 steps, no unnecessary fields). There must also be a clear and understandable welcome offer, and the path to deposit should be direct and fast, with helpful prompts. If these conditions are met, players won’t drop off at the earliest stages.

Convenience is important for players at every stage of the way to the deposit, so the main points of the user loss look like this:

  • At the payment method selection stage.
  • At the data entry stage — if the form is too long or complicated.
  • During redirection to a PSP — especially if there are payment approval issues.
  • At the stage of exploring bonuses or choosing content and games — if the terms or interface are not clear enough.

Which UX changes in N1 Partners projects have recently driven the biggest conversion growth?

The greatest impact came from three areas: increasing the number of local payment solutions, personalising offers immediately after registration based on traffic type, and updating the cashier. 

The new payment area became clearer and more stable for players, which directly improved conversion rates.

How does player behaviour differ across GEOs, and how do N1 Partners products adapt to Tier-1 GEOs?

User behaviour differs significantly depending on the GEO, from preferences in payment methods to the perception of bonuses.

In Tier-1, players are more demanding: product speed, transparent conditions, user-friendly UX, and a wide range of local payment solutions are critical for them.

In Tier-2, users are more sensitive to bonuses and retention mechanics, take longer to make a deposit decision, and react more strongly to the size and terms of the offer.

N1 Partners products adapt to these features through localisation of payment methods, UX development, and gamification.

Which product hypotheses most often drive Reg2Dep growth?

The most consistently effective hypotheses are those focused on simplifying the deposit flow and expanding the list of payment methods. Additional growth comes from personalised welcome offers tailored to the traffic source and type.

Which features of N1 Partners products help achieve high conversion?

A key role is played by strong payment expertise and extensive localisation of payment solutions. Conversion is further boosted by a fast registration form, a flexible bonus system with clear terms, and advanced gamification. All of this is continuously optimised through A/B testing at every stage of the funnel.

To sum up, a high Reg2Dep is the result of a systematically built product: strong payment infrastructure with local methods, fast and intuitive UX, and relevant bonus logic. This combination determines whether traffic turns into revenue.

If you want to drive traffic to strong products designed for players, start working with N1 Partners. The affiliate programme unites 14+ casino and sportsbook brands with high Reg2Dep, operates in 10+ Tier-1 GEOs, and offers competitive scaling conditions — payouts up to €700 CPA for top partners and RevShare up to 55% + NNCO.

Be number one with N1!

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Conferences

G GATE CONF 2026 — June 26–27, Tbilisi

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G GATE CONF (ggateconf.com) will take place in Tbilisi, Georgia — a multi-vertical affiliate conference bringing together industry professionals from around the world in one venue.

The event will be held at Expo Georgia, the country’s largest event hub, occupying four pavilions as well as the open-air space between them. In 2026, the organizers expect up to 7,000 participants from the CIS, Europe, Asia, and other regions.

When and Where

Dates: June 26–27, 2026
Location: Expo Georgia, Tbilisi, Georgia

Event Scale

G GATE CONF is a two-day event with a rich business and networking program:

  • 2 stages featuring industry speakers
  • 100+ company and service booths
  • 50+ zones and activities for networking, learning, and relaxation
  • Open-air zones for informal networking

Some formats are developed exclusively by the G GATE team specifically for the conference and are not repeated at other events.

Who Attends

The audience of G GATE CONF 2026 includes:

  • Media buying teams and solo arbitrage specialists
  • SEO specialists and agencies
  • Company owners and C-level executives
  • Advertisers and CPA networks
  • Affiliate market service providers: payment solutions, trackers, anti-detect browsers, proxies, creative agencies

Verticals

Main conference verticals: iGaming, White Hat, Crypto & Finance
For the first time at G GATE CONF, the following verticals will be featured: Dating, Adult, mVas, Sweepstakes

Each vertical will have dedicated activities and engagement formats to help participants quickly find relevant contacts and solutions for their needs.

Special Projects and Activities

In 2026, the conference will include 7 special projects, such as:

  • PITCH — a startup competition for launching and scaling affiliate industry projects
  • G GATE AWARDS — an industry award with a gala dinner honoring companies and market leaders
  • Merch Shop, SEO Shop, Match Point, and other interactive formats

Special attention is given to the afterparty, a large-scale evening event featuring headliners and dedicated networking zones, including VIP areas.

Why Attend

G GATE CONF focuses not only on content but also on the density of valuable contacts. The conference brings together multiple verticals and formats in one place, allowing participants to:

  • Achieve partnership goals
  • Discover new traffic sources and services
  • Connect with industry professionals beyond the standard “booth-card” format

Tbilisi was chosen as a convenient meeting point for participants from different countries, and the summer dates allow for a seamless combination of work, leisure, and networking.

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Affiliate Announcements

Management Buyout Successfully Completed at ReferOn

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Management Buyout

ReferOn, an affiliate management platform for the iGaming sector, today revealed the successful conclusion of a management buyout. Former General Manager Alex Bukin purchases the platform, moving the company into its next stage of independent growth. Bukin will take on the position of Chief Executive Officer (CEO) to advance the company.

Assessing the platform’s path three years after its launch, Alex Bukin, CEO of ReferOn remarked: “This is a significant moment for ReferOn and marks the start of a new phase for the company.” The management buyout offers us the long-term perspective needed to consistently enhance the platform. We uphold our dedication to product development, enhancing our solutions for partners, and facilitating ReferOn’s ongoing expansion in significant markets.

The acquisition comes after a significant phase of advancement for the firm. Established on a base of operational effectiveness and scalable technology, ReferOn persists in expanding its footprint throughout the industry. In its initial year, the platform announced 35.7 million clicks, 2.4 million sign-ups, 18,000 affiliates, and 136,000 active trackers. The company’s extensive range of tools enhances flexibility for operators and affiliates, generating momentum that recently led to ReferOn being recognized as the “Best Affiliate Platform” in 2025 and 2026 by key industry players.

This change will not impact daily operations; assistance and current collaborations will continue as normal. As part of its continuous growth strategy, ReferOn is enhancing its product lineup with the introduction of new features, such as Refie, the integrated interface layer of the platform. The platform continually improves user experience and security via dynamic reporting, Company Grouping, Sub-Affiliation, Independent Deal Calculation (IDC), two-factor authentication (2FA), and thorough mobile optimization.

To maintain operational continuity, the current leadership team stays intact, guaranteeing stability as the company moves into its next phase of growth. With Bukin’s appointment as CEO, Vlad Bondarenko has moved from Head of Product to Chief Product Officer, and David Harris, who was previously Operations Lead, has become Chief Operations Officer. As the organization embarks on its next phase, it continues to prioritize equipping operators with top-tier tools and a dedication to providing the future of affiliate management.

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