Business
Inspired Reports Second Quarter 2021 Results
NEW YORK, Aug. 12, 2021 /PRNewswire/ -- All constraints on betting shops, pubs and holiday parks in England lifted on July 19th following COVID-19-related
About this update from Inspired Entertainment, Inc.
[{"type":"text","content":"NEW YORK, Aug. 12, 2021 /PRNewswire/ -- \n\n \n \n \n \n \n \n\n \nAll constraints on betting shops, pubs and holiday parks in England lifted on July 19th following COVID-19-related restrictions associated with the staged reopening of operations during the second quarter 2021 Company refinanced all of its debt during the second quarter, issuing £235.0 million ($324.7 million) of 7.875% senior secured notes and establishing a £20.0 million ($27.6 million) secured revolving facility Company facilitated Landgame Trust's secondary offering of 6.2 million shares of common stock of the Company, which was oversubscribed and included allocations to over 40 institutional investors Second Quarter Interactive Revenue increased 69.0% year-over-year, notwithstanding the staged reopening of retail customers during the quarter Second Quarter Revenue increased 166.4% year-over-year to $41.5 million Second Quarter Net Loss of $43.8 million Second Quarter Adjusted EBITDA1 increased 289.3% year-over-year to $8.0 million Management affirms third quarter 2021 Adjusted EBITDA Guidance of $28 million to $30 millionInspired Entertainment, Inc. (\"Inspired\" or the \"Company\") (NASDAQ: INSE) today reported financial results for the three-month period ended June 30, 2021. \nThe Company generated total revenue of $41.5 million, a net loss of $43.8 million and Adjusted EBITDA of $8.0 million in the three months ended June 30, 2021 on a reported basis2. The Company exhibited year-over-year growth on a reported basis across all segments in the second quarter 2021. The Interactive business continued to display strong performance, and sequential growth, in all major markets, with revenue of $5.8 million, an increase of 69.0% year-over-year, due to the addition of new customers and territories and the consistent launch of new high-quality content. This expansion, as well as the associated costs to establish new geographies and licensed content, led to Interactive segment operating income increasing 46.8% year-over-year to $2.6 million, and Adjusted EBITDA increasing 45.7% to $3.6 million from $2.4 million in the prior-year period. The Interactive business generated record revenues for the Company in July. \n1 \"Adjusted EBITDA\" is a non-GAAP financial measure defined and described below under \"Non-GAAP Financial Measures\" and reconciled to the most directly...