Scout Gaming published its financial report 2022, which highlighted a decrease in annual losses. B2B betting and fantasy sports provider Scout Gaming attributed the improvement in metrics to its cost-effective strategy.
Scout Gaming reported losses of $5.76million (converted from Swedish Krona), which is 27% less than the losses of $7.87million in 2021.
Scout Gaming’s strategy was able to control the situation, despite still having to deal with losses. The company was determined to cut losses and reduced its workforce by as well as drastically reducing its operating costs.
Scout Gaming is focused on expanding its reach and generating strong revenues. His team will work hard to make Scout Gaming a profitable business, according to CEO Niklasjonsson. He said that there are still a lot to do and that there is much more to be done.
Jonsson stated that he will fight on and is determined for success. He stated that he would continue to help Scout Gaming grow, even if it requires more transformative work.
2022: Scout Gaming with Quite A Few Challenges
Scout Gaming’s 2022 total revenues were $2.46 Million, a 20% decrease.
The company’s revenue from business-to-customer operations declined 47% to $1.12million. However, the business-to-business segment saw a 46% increase to $1.34million.
EBITDA losses at Scout Gaming were also $6.51 millions. The earnings per share were $0.026. The board recommended that no dividend be paid for the entire year.
Although the company still struggles to generate positive revenues, it has managed to manage its B2B sector. The company has now 13 clients and has ended all non-productive partnerships. Scout Gaming currently has eight active partnerships, while five are still being integrated.
Scout Gaming’s 2022 performance was suboptimal, and it was hampered by many headwinds. Some quarters were described by the company as ” intense periods“, which prevented the company from reaching the desired results.
Despite some setbacks, 2022 proved to be a favorable year for partnerships. Scout Gaming signed agreements with quite a number of companies. Scout entered Australia in October with Apple iSports. It then agreed to supply Cartola its daily fantasy products two months later.