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Jun 30, 2023
Inspired Q2 2023 Earnings Report
Inspired Entertainment reported second quarter 2023 results, showing revenue growth across all business lines.
Key Takeaways
Inspired Entertainment reported revenue growth in all business lines during the second quarter, with the digital businesses achieving record quarterly revenue. The company is also benefiting from sales of new Vantage terminals and anticipates additional sales of 'low margin' terminals. They are on track to deliver their new National Football League (NFL) product for the upcoming season.
Revenue grew in each business line, reflecting solid fundamentals.
Digital businesses generated record quarterly revenue and contribute a greater proportion of earnings and cash flow.
Interactive revenue increased 28% year-over-year, posting a quarterly record.
Virtual Sports produced record reported quarterly revenue of $15.0 million with high conversion to earnings and cash flow.
Inspired
Inspired
Inspired Revenue by Segment
Revenue by Segment
Virtual Sports Revenue
CapyFin.com Forward Guidance
Inspired Entertainment is optimistic about growth in digital markets and a resilient land-based business, which will enable them to deliver further progress against their omni-channel strategy.
Positive Outlook
- Exciting pipeline of new products and further enhancements across businesses.
- On target to deliver new National Football League (NFL) product in time for the start of the upcoming season.
- Compelling growth dynamics in digital markets as a wider audience engages with online betting and gaming.
- New jurisdictions continue to open up.
- Diversification and proven ability to expand business will enable further progress against omni-channel strategy.