Sports betting. Source: Shutterstock

Evoke missed EBITDA target

Management changes and operational restructuring were identified as primary contributors to the decrease in revenue in the latter half of 2024. The company anticipates that revenue growth in the second half of 2024 will align with its medium-term projection of 5%-9%. Furthermore, management is aiming to achieve a 20% EBITDA margin in 2025.

Evoke CEO Per Widerström commented: “Although our first-half financial performance is behind plan, the underlying health of the business is strengthening. Corrective actions give us more confidence that our strategic approach is sound and will enable us to achieve success.”

Recall that Widerström joined Evoke as CEO in July last year. He said the company had made "bold, decisive changes to improve nearly every area of the business."

In March 2024, 888 CFO Sean Wilkins admitted that Evoke's financial performance in 2023 was "disappointing". Revenue for 2023 is estimated to have fallen 7.5% year over year.

21 July 2024, 09:00

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