Page 1

XLMEDIA Results for the Year Ended 31 December 2020 Released : 27/04/2021 07:00 RNS Number : 6467W XLMedia PLC 27 April 2021 27 April 2021 XLMedia ( AIM : XLM ) , a leading global digital performance publisher , announces the Company's audited results for the year ended 31 December 2020 . Financial summary Revenues of $ 54.8 million ( FY 2019 : $ 79.7 million ) ● XLMedia PLC ( " XLMedia " or the " Group " or the " Company " ) ● Results for the Year Ended 31 December 2020 Gross profit of $ 34.3 million ( FY 2019 : $ 53.7 million ) Adjusted EBITDA ( 1 ) of $ 12.2 million ( FY 2019 : $ 33.5 million ) Adjusted profit before tax ( 2 ) of $ 4.5 million ( FY 2019 : $ 25.3 million ) ● Reported Profit / ( Loss ) before tax of $ 1.1 million ( FY 2019 : ( $ 57.7 ) million ) Cash and short - term investments of $ 13.9 million ( 31 December 2019 : $ 29.9 million ) O ● O Google search ranking penalty in January on over 100 Casino websites Covid - 19 measures impacted sports events globally and reduced activity in Financial Services Resulted in c . $ 2 million per month hit to Group revenue for a number of months from March Closure of Media business reduced annual revenue by c . $ 5 million ● Operating summary Significant progress in US Sports market through the acquisition of CBWG , a high - growth sports gaming and betting publisher and affiliate After period end : Strengthened US Sports position through the acquisition of Sports Betting Dime , a multichannel sports betting affiliate , including the national website sportsbettingdime.com Good progress on the business transformation O Initial restructure of the organisation , resulting in headcount reduction of around 20 % Ongoing asset portfolio upgrade focussing on revenue sustainability and future growth Strengthened Executive Team with the appointment of lain Balchin as Chief Financial Officer and Ken Dorward as President , North America Corporation tax residence moved to the UK - minimal impact on effective tax rate 1 Adjusted EBITDA in all references is defined as Earnings Before Interest , Taxes , Depreciation and Amortisation , and excluding any share based payments , impairment and reorganisation costs 2 Excluding loss from impairment and reorganisation costs Casino rebuild Narrowed focus to 10 tier 1 penalised Casino websites and other high - performing unpenalised assets Removed the penalty from three of 10 websites , after multiple resubmissions Concentrating resources on rebuilding new revenue generation from a lower base Options to develop assets with partners or create value through disposals