Philippines gaming and technology group DFNN Inc says it posted its highest ever revenue and EBITDA in the nine months to 30 September 2022, with strong growth seen across all business segments.
DFNN is leading IT solutions provider and systems integrator to the financial sector but also holds licenses for Electronic Gaming Machines (EGMs), operates a sports betting exchange, and runs digit and pari-mutuel games in partnership with gaming regulator PAGCOR. Its operations include the provision of the Philippines’ first platform for the local PIGO industry, InPlay.ph.
According to the company’s quarterly report, DFNN reported its highest ever revenue for the nine months through 30 September to Php970.6 million, up 173% year-on-year.
EBITDA was also a record Php258.8 million, reversing a Php65.2 million loss in the prior year period, with net income growing 216% to Php140.4 million.
“This a direct effect of the significant increase in the operations of all the company’s technology platforms,” it said.
DFNN said revenue from share-based income generated from interactive operations increased by 204% to Php888.9 million, from the development and maintenance of software solutions by 31% to Php68.7 million and from sales of software and application licenses by 21.2% to Php13.0 million.
“Thus, all areas of the DFNN Group’s businesses exhibited a growth trend even in a challenging high inflationary environment,” the company said.
DFNN President and CEO Calvin Lim added, “The DFNN Group’s consistent revenue growth is a testament to our highly effective business strategy that focuses on a robust digital platform. Our efforts towards innovation will continue as we go head-to-head on another challenging year fighting inflation and other economic headwinds.”
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