QiH Group Posts Strong Q4 and FY 2024 Financial Results

QiH Group, a key player in the iGaming affiliate market, has reported strong financial results for Q4 2024, covering the three-month period ending September 30. The company’s performance highlighted substantial growth within an increasingly regulated and competitive online gaming landscape.

For the fourth quarter of 2024, QiH Group recorded revenue of £6.33 million, marking a 73% increase compared to Q4 2023. EBITDA rose to £1.43 million, reflecting a 90% year-over-year increase. The number of First-Time Depositors (FTDs) also saw significant growth, increasing by 49% from the same period in 2023. These figures indicate successful execution of the company’s acquisition and revenue generation strategies.

The fiscal year 2024 results showed equally impressive figures, with total revenue reaching £20.57 million, up 59% year-on-year. EBITDA for the year matched this growth, also rising 59% to £4.85 million. The company recorded a 43% year-on-year increase in FTDs, emphasizing sustained progress in customer engagement and expansion.

Throughout 2024, QiH Group focused on operational enhancements, including the addition of Sachin Saxena as CTO, which reinforced the company’s technological and strategic capabilities. The launch of Podium Bets signified an expansion into the sports betting vertical, which is projected to contribute up to 15% of revenue in 2025. The company’s workforce grew by an average of 16% in Q4 and 15% for the full year, leading to a significant expansion of its London office operations. Strategic partnerships were also strengthened, with QiH Group collaborating with 120 new partners to provide reliable, high-quality traffic.

Following the end of the fiscal year, QiH Group continued to enhance its leadership team with the appointment of Simon Winder as CFO, completing its executive team and positioning the company for continued financial and operational success into 2025.

“We are thrilled to report strong quarterly results that underscore our commitment to innovation and customer satisfaction in the iGaming space,” said Jamie Walters, CEO and co-founder of QiH Group. “Strategic enhancements to our in-house tech, growing the business rapidly and appointing the absolute best people to our C-level team has clearly paid off.”

“As we head into the next trading year, QiH Group looks primed to go from strength-to-strength. Our C-level team is now complete and we have been able to attract some really impressive individuals to our most important senior positions, as proven by our recent hires. Our focus on compliant methods, data-driven results and responsible marketing will enable us to continue delivering value to our partners, clients and customers for the long term,” said Walters.