PlayAGS Q2 2022 Earnings Report
Key Takeaways
PlayAGS reported strong Q2 2022 results, driven by investments in R&D, sales, and product management. The company saw year-over-year growth in net revenues, net income, and Adjusted EBITDA. Recurring revenue accounted for approximately 74% of consolidated Q2 2022 revenue.
Gaming operations, or recurring revenue, increased to $56.6 million.
Domestic EGM gaming operations revenue increased approximately 1% year-over-year to a record $46.2 million.
Table Products recurring revenue reached a new record of $3.5 million.
Total Adjusted EBITDA increased approximately 6% year-over-year to $34.1 million.
PlayAGS
PlayAGS
Forward Guidance
AGS expects to incur full-year capital expenditures of $62 to $67 million and remains on pace to deliver upon its previously issued year-end 2022 net leverage target of less than 4.0x.