Quarterly Report Q1 2025
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4th consecutive Q1 Year-on-Year growth
Highlights of Q1
Throughout Q1 2025 we have continued our multi-year focus on efficiency and profitability; favouring long-term economic decisions over short-term opportunities. We have continued to invest in the platform and this is reflected in the performance outlined below, resulting in several record achievements since our listing early 2022:
- Total Revenue of € 128.0 million in Q1 2025, up 7% from € 119.7 million in Q1 2024 and the 4th consecutive Q1 YoY revenue increase, mainly driven by higher spend across the Platform Segment particularly in AAA Game Distribution and the integration of past acquisitions, including The Moneytizer, Goldbach Austria and Produpress.
- Adjusted EBITDA in Q1 2025 of € 11.7 million, an increase of 19% as compared to € 9.8 million in Q1 2024, another 4th Q1 YoY increase in as many years, largely driven by increased profitability in both our Premium Games and Platform segments.
- EBITDA performance significantly improved to € 7.9 million as compared to € 4.7 million in Q1 2024, up 68% year over year as a result of synergies from acquisitions and continued focus on efficiency and profitability. For a detailed reconciliation of net income to adjusted EBITDA, please refer to Other information.
A key driver of this performance is the consistent execution of our consolidation and integration plan initiated in 2023. By strengthening our core technical systems and team structures, we’ve built a foundation that enables us to regularly launch new features and onboard partners more efficiently.
- Significant progress in advancing our product and technology roadmap, including the consolidation of Azerion’s ID Graph into one DMP, new features and automation for our DSP and SSP interfaces and setting the foundations for Agentic AI developments.
- Signed 80 new publishers and connected 6 additional SSPs, 3 new DSPs and 1 supplementary Data source to expand our digital audiences across Europe and the Americas.
- In parallel, we have designated investment and development resources to create Azerion Intelligence, a powerful Multi-Cloud and AI platform offering European businesses affordable access to open-source AI models, scalable cloud hosting, and a marketplace of AI-driven apps and agents tailored for digital marketing and publishing which was announced in Q2 2025. We see AI as significant opportunity to drive rapid and scalable revenue growth over the coming months and years.
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