Atemi sees revenue and NDCs climb in Q1

Performance marketing specialist Atemi has reported a year-on-year rise in revenue and new depositing customers (NDCs) during the first quarter, while the business is forecasting forecast further growth in Q2 despite the ongoing novel coronavirus (Covid-19) pandemic.

Revenue in the three months to 31 March amounted to $11.7m (£9.5m/€10.6m), which Atemi said was an increase of 54% on the same period last year.

Atemi also saw a 74% year-on-year increase in NDCs for the first quarter, saying that while its was impacted by the pandemic, it was not relaiant on sports wagering traffic, allowing the business to grow.

As such, Atemi said it expects growth to continue into the second quarter, with its founder Richard Skelhorn adding that this should continue in the second half of the year as sporting schedules start to return to normal.

“We’re pleased with another amazing quarter,” Skelhorn said. “We continue to operate and grow without taking on debt obligations and we are really fortunate not to rely on sporting events or large content teams at this particular time.”

In March, Atemi said that despite the global outbreak of coronavirus, it would guarantee every staff member’s role and pay, going as far as to offer support if spouses or partners are laid off.

“We want to ensure our team are 100% not reliant on government subsidies or public transportation and feel healthy and financially secure,” Skelhorn said.

“Additionally we have added to our HR recruitment team as we look to scale up our product development, software engineering and marketing efforts at a time when other companies are releasing high quality talent.”

Looking ahead to the third and fourth quarters, Skelhorn said that in addition to incremental growth in sports betting, assuming events and competitions return to normal, non-gaming projects would diversyify the business' revenue streams. These initiatives include new global partnerships with Amazon and Disney+.

“Our goal was to break $50m in revenue this year and we still believe in this target despite the challenges the world faces,” he said. “We continue to deliver the highest quality players to our clients globally and more operators each month realize Atemi is at the very top of the value chain and leading the market in regulatory compliance.”