PlayAGS Q3 2021 Earnings Report
Key Takeaways
PlayAGS reported strong Q3 2021 results, with revenue growth driven by improved product momentum and execution across all operating segments. The company is now expected to be nicely free cash flow positive for the full year 2021 and to end the year with net leverage inside of 4.5x TTM Adjusted EBITDA.
Gaming operations, or recurring revenue, increased to $53.2 million versus $36.3 million and $52.5 million in Q3 2020 and Q3 2019, respectively.
Recurring revenue accounted for 79.1% of consolidated Q3 2021 revenue compared to 73.7% in Q3 2020 and 66.2% in Q3 2019.
Total Adjusted EBITDA was $31.9 million compared to $27.0 million in Q3 2020 and $36.8 million in Q3 2019.
Total Adjusted EBITDA margin was 47.4% compared to 54.8% in Q3 2020.
PlayAGS
PlayAGS
Forward Guidance
Company expects to be nicely free cash flow positive for the full year 2021 and to end the year with net leverage inside of 4.5x TTM Adjusted EBITDA.