EBET - EBET withdraws guidance on focus to profitability estimates $18.2M revenue for Q2

• EBET ( NASDAQ: EBET ) on Monday withdrew its annual revenue guidance as the online gaming company aims to achieve EBIDTA positive run rate, which is to bring down the revenue growth rate in the short term as it cuts unprofitable sales.
• That refers to the company's previously disclosed FY 2022 revenue guidance of $70M.
• "We are on a current run rate to achieve positive EBITDA this month and feel that we have reached a major inflection point for EBET's business," commented Aaron Speach, CEO of EBET. "I have never been this excited about EBET's future for our executive team and our shareholders," he added.
• Q3 2022 Revenue: The company that went public in April 2021, EBET, has also released its preliminary figures for the third quarter where revenue is estimated at $18.2M ( vs. Q2: $19M ) with gross profit of $7.2M (vs. Q2: $7M).
• The company has scheduled a call to discuss its restructuring and profitability plan later today, Aug. 15 at 4:30 PM EDT.
• EBET stock is up 4.5% , Monday, trading around its 52-week low of $2.10.
• On Apr. 19, 2022, Seeking Alpha issued a warning that EBET is at high risk of performing badly due to decelerating momentum and inferior profitability when compared to other consumer discretionary stocks.
• At Hold rating, Seeking Alpha Marketplace author Donovan Jones writes: "EBET has grown revenue as a result of acquisitions but its operating losses are substantial and worsening."

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