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Jun 30, 2021
Everi Q2 2021 Earnings Report
Reported record financial results driven by broad-based strength in Games and FinTech segments.
Key Takeaways
Everi Holdings Inc. reported record financial results for the second quarter ended June 30, 2021, with revenue, net income, Adjusted EBITDA, and Free Cash Flow all slightly above the ranges provided on June 21, 2021. The results reflect continued strength in casino patron demand and improvements in the Games and FinTech segments.
Revenues rose 33% to a quarterly record of $172.6 million compared to Q2 2019.
Net income improved 560% to a quarterly record of $36.2 million, or $0.36 per diluted share, compared to Q2 2019.
Adjusted EBITDA increased 44% to a quarterly record of $92.5 million compared to Q2 2019.
Free Cash Flow increased 462% to $39.2 million compared to Q2 2019.
Everi
Everi
Everi Revenue by Segment
Revenue by Segment
Games Revenue
CapyFin.comFinTech Revenue
CapyFin.com Forward Guidance
Everi is providing annual guidance of selected expected financial results, expecting revenue of $615 million to $635 million, net income of $87 million to $95 million, Adjusted EBITDA of $332 million to $342 million, and Free Cash Flow of $168 million to $177 million for the full year 2021.
Positive Outlook
- Industry conditions are stabilizing.
- Company expects revenue of $615 million to $635 million.
- Company expects net income of $87 million to $95 million.
- Company expects Adjusted EBITDA of $332 million to $342 million.
- Company expects Free Cash Flow of $168 million to $177 million.
Challenges Ahead
- Capital expenditures will be $105 million to $113 million.
- Company expects to incur a loss on extinguishment of debt of approximately $32 million to $35 million in Q3 2021.
- Shipments for new casino openings and expansions in the second half of 2021 are expected to be lower.
- Guidance assumes no significant change or reversal of the Company's deferred tax asset valuation allowances during the year.
- Guidance reflects the likelihood of receding government stimulus benefits and an increase in pressure on consumer discretionary spending.
Revenue & Expenses
Visualization of income flow from segment revenue to net income