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Dec 31, 2022
Inspired Q4 2022 Earnings Report
Achieved double-digit, year-over-year top and bottom-line growth and reached a record annual revenue and a milestone $100 million in Adjusted EBITDA.
Key Takeaways
Inspired Entertainment reported strong Q4 2022 results, reflecting growth in the digital business and resilience in land-based businesses. Total Revenue was $78.6 million, compared to $67.0 million in the prior-year period. Net Income during the quarter was $3.1 million, compared to a loss of $1.2 million in the prior-year period.
Total Revenue was $78.6 million, compared to $67.0 million in the prior-year period, with an adverse $11.3 million attributable to currency movement.
Virtual Sports Revenue was a record $14.9 million compared to $11.0 million in the prior-year period, with an adverse $2.1 million attributable to currency movement.
Interactive Revenue was $6.3 million compared to $5.7 million in the prior-year period, with an adverse $0.9 million attributable to currency movement, driven by growth in the U.S. and Canada.
Net Income during the quarter was $3.1 million, compared to a loss of $1.2 million in the prior-year period, which included a $2.9 million loss in fair value of warrant liability.
Inspired
Inspired
Inspired Revenue by Segment
Revenue by Segment
Gaming Revenue
CapyFin.comVirtual Sports Revenue
CapyFin.comInteractive Revenue
CapyFin.comLeisure Revenue
CapyFin.com Forward Guidance
Inspired Entertainment is focusing on significant growth opportunities in the future, which it intends to capture by using its best-in-class differentiated content to grow its presence in core markets, expand into new markets and extend into additional verticals.
Positive Outlook
- Continued growth in the digital business.
- Stability in the Gaming and Leisure segments.
- Strong Gaming machines sales.
- Impressive growth trajectory in Virtual Sports.
- Solid quarter for Interactive with double-digit growth in revenue.
Challenges Ahead
- Adverse currency movements.
- Decrease in Leisure revenue.
- Increase in Total Company Selling, General and Administrative Expenses.
- Large working capital outflow, particularly in accounts receivable and inventory.
- Higher costs of parts and prizes as well as increased wages impacting Leisure Adjusted EBITDA margin.
Revenue & Expenses
Visualization of income flow from segment revenue to net income