XLMedia (GB:XLM) has released an update.
XLMedia PLC, a digital media company in the sports and gaming sector, reported stable performance following the sale of its European and Canadian assets for $37.5 million, with up to an additional $5.0 million in earnouts. The company’s North American operations continued to meet management expectations, generating $10.4 million in revenue for the first half of 2024, despite the seasonal dip during the NFL off-season. XLMedia anticipates a return of capital to shareholders from the net sale proceeds in Q4 2024, with an adjusted EBITDA forecast of $5.0 million for the year.
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