• Revenue amounted to EUR 9 486 (9 300) thousand, a slight increase compared with the previous year.

• Adjusted EBITDA (before items affecting comparability) was EUR 1 232 (2 141) thousand decreasing by 42% year-on-year and 12% quarter-on-quarter.

• Profit after tax was EUR 2 806 (-67) thousand. Adjusted profit after tax (before items affecting comparability and currency effects) was EUR -381 (-181) thousand.

• Earnings per share after dilution amounted to EUR 0.015 (-0.0005). Adjusted earnings per share after dilution (before items affecting comparability and currency effects) was EUR -0.002 (-0.001).

• New Depositing Customers (NDC) amounted to 45 531 (92 659) decreasing by 51% year-on-year but remaining in line with the previous quarter.

• Cash flow from operating activities amounted to EUR 2 088 (1 004) thousand.

Important events during the quarter

During the quarter, we divested all our poker-related assets. This strategic move was made in light of poker's declining popularity following its initial surge during the COVID-19 pandemic, as well as the SEO challenges.

Other information

On 15 May Acroud has entered into a new Earnout Settlement Agreement with the previous owners of The Gambling Cabin. The parties agreed that the outstanding Acroud's liability for the value of SEK 19.25M to be paid in shares was cancelled. Instead, the parties agreed for SEK 9.5M immediate payment in cash.

CEO comments: A Stable Start of the New Year

Another quarter with mixed results has passed, yet it showcased the resilience and strategic adaptability of Acroud. We saw a slight uptick in revenue, underscoring the stability of our business model, despite the divestiture of our poker operations.

This strategic move has not only streamlined our focus but also positively impacted our EBITDA, demonstrating that it was the right decision for our financial health.

Our operational EBITDA faced challenges, primarily due to higher than expected costs related to the Super Bowl activities. However, the strong profitability this quarter can largely be attributed to the sale of the poker business. We've observed a decrease in New Depositing Customers (NDCs) year-on-year, consistent with previous quarters, stemming from our strategic shift in player and market focus.

In our Software as a Service (SaaS) segment, Voonix, an industry-leading platform used by many large affiliates, has implemented a new sales strategy. In response to emerging low-cost competitors offering basic functions similar to Voonix, we have opted to provide Voonix for free to small affiliates. This approach is designed to eliminate competition effectively and create a robust pipeline of growing affiliate partners whom we can later convert into premium users. The initial feedback has been encouraging, although it's still too early for a definitive assessment.

Further cost-saving measures have been put into place, contributing to a leaner operation. As part of this initiative, I have personally taken a salary reduction of over 100,000 euros annually. These new cost savings, effective from Q2, are expected to further improve our financial performance.

After the close of the quarter, Google released a significant update in early May, primarily impacting media partnerships. While this update has posed challenges for companies heavily reliant on such deals, we anticipate minimal long-term impact on our operations, thanks to our diversified strategies and proactive adjustments.

I am proud of our team's dedication and our company's agility in navigating these times.

With our solid foundation and innovative approaches, Acroud is well-positioned to seize future opportunities and continue setting industry benchmarks.

Join the Ride!

Robert Andersson, 23 May 2024

Responsible parties

This information constitutes inside information that Acroud AB (publ) is required to disclose under the EU Market Abuse Regulation 596/2014. The information in this press release has been published through the agency of the contact persons below, at the time specified by Acroud AB's (publ) news distributor Cision for publication of this press release. The persons below may also be contacted for further information.

For further information, please contact:

Robert Andersson, President and CEO

+356 9999 8017

Andrzej Mieszkowicz, CFO

+356 9911 2090

ACROUD AB (publ)

Telephone:+356 2132 3750/1

E-mail:info@acroud.com

Website:www.acroud.com

Certified Adviser: FNCA Sweden AB,info@fnca.se

From May 2024 (Q1 Report) Acroud has changed reporting and company language to English. This means that Interim Reports and the correlated press releases will be issued in English only.

About ACROUD AB

ACROUD is a fast-growing global challenger that operates and develops comparison and news sites within Poker, Sports Betting and Casino. Acroud also offers SaaS  solutions for the iGaming affiliate industry. In past years, a number of companies have joined the ride and thus several experienced individuals in the industry leads Acroud's journey to become "The Mediahouse of The Future". Our mission is to connect people, Content Creators (Youtubers, Streamers, Affiliates) and businesses. We are growing fast and remain a leading global player in the industry with just over 70 people in Malta, United Kingdom, Denmark and Sweden. Acroud has been listed on the Nasdaq First North Growth Market since June 2018.