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Sep 30, 2021
Everi Q3 2021 Earnings Report
Reported record recurring revenue driven by growth in Games and FinTech segments and raised full-year revenue and earnings guidance.
Key Takeaways
Everi Holdings Inc. reported a strong third quarter with a 25% increase in revenues to $168.3 million compared to Q3 2019. Operating income more than doubled to a record $55.1 million. Free Cash Flow increased more than fivefold to a quarterly record of $56.3 million. The company raised its full-year revenue and earnings guidance.
Revenues rose 25% to $168.3 million, compared to the 2019 third quarter.
Operating income more than doubled to a record $55.1 million compared to the 2019 third quarter.
Free Cash Flow increased more than fivefold to a quarterly record of $56.3 million, compared to the 2019 third quarter.
Company now expects full year revenue of $645 million to $653 million, net income of $98 million to $100 million.
Revenue by Segment
Forward Guidance
Everi raised its previous guidance for full year 2021 results. The Company now expects net income of $98 million to $100 million, Adjusted EBITDA of $342 million to $346 million, and Free Cash Flow of $155 million to $160 million.
Positive Outlook
- Continued year-over-year growth in gaming operations revenues.
- The Company expects the 2021 year-end installed base will approach or slightly exceed 17,000 units, inclusive of ongoing growth in premium unit placements.
- Recent record-high DWPU is anticipated to remain above $40.00.
- Capital expenditures and placement fees collectively are expected to be $132 million to $134 million.
Challenges Ahead
- The Company’s 2021 outlook does not contemplate any additional meaningful impact from a macroeconomic or pandemic-related setback.
- The outlook does reflect, however, 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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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