Glossary
| Term | Explanation |
| Aggregator | In the context of iGaming, refers to a company that acts as an intermediary between game developers and online casinos, offering a centralized platform that integrates a wide range of games from multiple providers. |
| Anti-money laundering (AML) | A set of measures and protocols designed to prevent, detect, and report suspected money laundering activities. |
| Business-to-business (B2B) | In the context of iGaming, refers to companies that provide products, services, and solutions to other businesses within the online gaming industry. |
| Business-to-consumer (B2C) | In the context of iGaming, refers to companies that directly offer gaming products and services to individual players. |
| Geo-blocking | Technology used to restrict access to online content based on the geographical location of users. |
| Gross gaming revenue (GGR) | Total bets placed less player winnings. |
| iGaming | Covers online table games (roulette, blackjack, etc), gaming (slot) machines and bingo where the game is based on the outcome of an automated (using a manually operated random number generator) device. |
| KAM | Key Account Manager |
| Know your client (KYC) | Process used to verify the identity of business clients. This helps ensure compliance with regulations, prevent fraudulent activities, and promote responsible gambling. |
| OpenRGS™ | Hacksaw’s proprietary RGS platform. |
| Operator | In the context of iGaming, refers to a company that runs an online gambling platform (such as a web page or mobile app), providing various gaming and/or betting services directly to players. |
| Remote gaming server (RGS) | A platform or infrastructure that acts as a backend system for storage, distribution, management, and delivery of data, specifically for hosting and managing online casino games. |
| Return to player (RTP) | Average percentage of winnings returned to a player. |
| Take rate | Take rate refers to the percentage share of customers’ (operators and aggregators) GGR that the Company invoices as revenue. |
Definitions
| Key ratios | Definition | Purpose |
| Revenue growth, % | Operating revenues for the period divided by operating revenues in the same period last year. | Used by management to monitor the group’s revenue growth. |
| EBITDA | Operating profit less depreciations and amortisations. | Shows the underlying development of the business, which is valuable in indicating the underlying cash-generating capacity of the business. Used by management to monitor earning trends and gives management information about the organisation’s efficiency and profitability. |
| EBITDA margin, % | Operating profit less depreciations and amortisations in relation to operating revenue. | |
| Adjusted EBITDA | Operating profit less depreciations and amortisations excluding items affecting comparability. | The adjusted measurements provide a better understanding of the performance of the business. |
| Adjusted EBITDA margin, % | Operating profit less depreciations and amortisations excluding items affecting comparability in relation to operating revenue. | |
| Operating profit (EBIT) | Profit before tax excluding net financial items. | Provides management with information about the organisation’s efficiency and profitability. |
| Operating profit (EBIT) margin, % | Operating profit in relation to operating revenue. | |
| Adjusted operating profit (EBIT) | Profit before tax excluding net financial items and items affecting comparability. | The adjusted measurements provide a better understanding of the performance of the business over time. |
| Adjusted operating profit (EBIT) margin, % | Operating profit excluding items affecting comparability in relation to operating revenues. | |
| Items affecting comparability | Items affecting comparability include non-recurring items, such as strategic consulting, IPO related costs and significant impacts on the company’s financial results that affect the comparability across periods. | Items that interfere with comparability between periods provides a better understanding of the company’s financial performance. |