Business
INSPIRED REPORTS FOURTH QUARTER AND FULL YEAR 2022 RESULTS
Fourth Quarter Revenue of $78.6 million represented a 17% increase over prior-year period, with growth of 42% in Gaming, 36% in Virtual Sports and 9% in
About this update from Inspired Entertainment, Inc.
[{"type":"text","content":"Fourth Quarter Revenue of $78.6 million represented a 17% increase over prior-year period, with growth of 42% in Gaming, 36% in Virtual Sports and 9% in Interactive. Functional currency growth rates of 34%, 61%, 56% and 24%, respectively. Fourth Quarter Net Income of $3.1 million, or $0.12 per basic share and $0.11 per diluted share, compared to Net Loss of $1.2 million, or $0.05 per basic and diluted share in prior-year period.Fourth Quarter Adjusted EBITDA1 of $25.6 million (a 17% increase over prior-year period); Adjusted EBITDA contribution2 from the aggregate digital business (Virtual Sports and Interactive) increased to 53% from 46% in prior-year periodSuccessfully delivered Inspired's largest North American gaming machine placement for Western Canada Lottery Corporation during the fourth quarterRecord Full Year 2022 Revenue of $285.4 million, 37% increase over prior year, with growth across every segment, including $33 million of adverse currency impactFull Year 2022 Net Income of $22.3 million, or $0.84 per basic share and $0.77 per diluted share, compared to a Net Loss of $36.7 million, or $1.60 per basic and diluted share in prior-year periodRecord Full Year 2022 Adjusted EBITDA of $99.6 million, a 56% increase over prior year, including $11 million of adverse currency impactNEW YORK, March 13, 2023 /PRNewswire/ -- Inspired Entertainment, Inc. (\"Inspired\" or the \"Company\") (NASDAQ: INSE), a leading B2B provider of gaming content, technology, hardware and services, today reported financial results3 for the three-month period and fiscal year ended December 31, 2022. The Company's fourth quarter and full year 2022 results reflect growth in the Company's aggregate digital business, which includes the Virtual Sports and Interactive segments, and ongoing strength and resilience in the land-based businesses. Total Revenue and Adjusted EBITDA for the fourth quarter and full year 2022 improved year-over-year in reported and functional currency. Additionally, reported results reflect significant strengthening of the USD (versus GBP) on a year-over-year basis (GBP 1.18: USD 1.00 for the three months ended December 31, 2022 and GBP 1.35: USD 1.00 for the three months ended December 31, 2021).\n\n \n \n \n \n \n \n\n \n________________________________\n1 \"Adjusted EBITDA\" and \"Adjusted EBITDA Margin\" are non-GAAP financial ...