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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.
Everi
Everi
Everi Revenue by Segment
Revenue by Segment
Games Revenue
CapyFin.comFinTech Revenue
CapyFin.com 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