DoubleDown Interactive Reports Second Quarter 2024 Financial Results
DoubleDown Interactive (NASDAQ: DDI) reported strong Q2 2024 financial results. Revenue increased 17% to $88.2 million, with SuprNation contributing $7.9 million. Net income rose to $33.3 million, or $0.67 per ADS. Adjusted EBITDA grew 34% to $37.0 million, with margin improving to 41.9%. The social casino business saw 7% revenue growth, with ARPDAU increasing 27% to $1.33. The company ended Q2 with a net cash position of $303 million. CEO In Keuk Kim highlighted gains in industry share, improved player engagement, and the successful integration of SuprNation.
DoubleDown Interactive (NASDAQ: DDI) ha riportato risultati finanziari solidi per il secondo trimestre del 2024. Il fatturato è aumentato del 17%, raggiungendo i 88,2 milioni di dollari, con SuprNation che ha contribuito con 7,9 milioni. Il reddito netto è salito a 33,3 milioni di dollari, ovvero 0,67 dollari per ADS. L'EBITDA rettificato è cresciuto del 34%, arrivando a 37,0 milioni di dollari, con un margine migliorato al 41,9%. Il business del casinò sociale ha visto una crescita del fatturato del 7%, con un incremento del ARPDAU del 27%, raggiungendo 1,33 dollari. L'azienda ha chiuso il secondo trimestre con una posizione di liquidità netta di 303 milioni di dollari. Il CEO In Keuk Kim ha messo in evidenza i guadagni nella quota di mercato, il miglioramento del coinvolgimento dei giocatori e la riuscita integrazione di SuprNation.
DoubleDown Interactive (NASDAQ: DDI) reportó resultados financieros sólidos para el segundo trimestre de 2024. Los ingresos aumentaron un 17% alcanzando los 88,2 millones de dólares, con SuprNation contribuyendo con 7,9 millones. Los ingresos netos se elevaron a 33,3 millones de dólares, o 0,67 dólares por ADS. El EBITDA ajustado creció un 34% alcanzando los 37,0 millones de dólares, con un margen mejorado del 41,9%. El negocio de casino social experimentó un crecimiento del 7% en ingresos, con un aumento del ARPDAU del 27% alcanzando 1,33 dólares. La compañía finalizó el segundo trimestre con una posición de efectivo neto de 303 millones de dólares. El CEO In Keuk Kim destacó las ganancias en la cuota de mercado, la mejora en el compromiso de los jugadores y la exitosa integración de SuprNation.
더블다운 인터랙티브(나스닥: DDI)는 2024년 2분기 강력한 재무 결과를 발표했습니다. 매출은 17% 증가하여 8820만 달러에 달했습니다, 이 중 SuprNation이 790만 달러를 기여했습니다. 순이익은 3330만 달러로 상승했습니다, 즉 ADS당 0.67달러입니다. 조정된 EBITDA는 34% 증가하여 3700만 달러에 달했습니다, 마진은 41.9%로 개선되었습니다. 소셜 카지노 사업은 7%의 매출 성장을 보였으며, ARPDAU는 27% 증가하여 1.33달러에 도달했습니다. 이 회사는 2분기를 3억 300만 달러의 순 현금 상태로 마감했습니다. CEO 인규 김은 산업 점유율 증가, 플레이어 참여 개선 및 SuprNation의 성공적인 통합을 강조했습니다.
DoubleDown Interactive (NASDAQ: DDI) a annoncé de solides résultats financiers pour le deuxième trimestre 2024. Le chiffre d'affaires a augmenté de 17% pour atteindre 88,2 millions de dollars, avec SuprNation contribuant à hauteur de 7,9 millions de dollars. Le revenu net a grimpé à 33,3 millions de dollars, soit 0,67 dollar par ADS. L'EBITDA ajusté a augmenté de 34% pour atteindre 37,0 millions de dollars, avec une marge améliorée à 41,9%. L'activité de casino social a enregistré une croissance du chiffre d'affaires de 7%, le ARPDAU ayant augmenté de 27% pour atteindre 1,33 dollar. L'entreprise a terminé le deuxième trimestre avec une position de liquidités nettes de 303 millions de dollars. Le PDG In Keuk Kim a souligné les gains en part de marché, l'engagement des joueurs amélioré et l'intégration réussie de SuprNation.
DoubleDown Interactive (NASDAQ: DDI) hat im zweiten Quartal 2024 starke finanzielle Ergebnisse gemeldet. Der Umsatz stieg um 17% auf 88,2 Millionen Dollar, wobei SuprNation 7,9 Millionen Dollar beitrug. Der Nettogewinn erhöhte sich auf 33,3 Millionen Dollar, oder 0,67 Dollar pro ADS. Das bereinigte EBITDA wuchs um 34% auf 37,0 Millionen Dollar, mit einer Margenverbesserung auf 41,9%. Das Geschäft mit sozialen Casinos verzeichnete ein Umsatzwachstum von 7%, während der ARPDAU um 27% auf 1,33 Dollar anstieg. Das Unternehmen schloss das zweite Quartal mit einer Nettobarmittelposition von 303 Millionen Dollar ab. CEO In Keuk Kim hob die Gewinne in der Marktanteilsposition, die verbesserte Spielerbindung und die erfolgreiche Integration von SuprNation hervor.
- Revenue increased 17% year-over-year to $88.2 million
- Net income rose to $33.3 million, up from $24.4 million in Q2 2023
- Adjusted EBITDA grew 34% to $37.0 million with margin improving to 41.9%
- ARPDAU for social casino games increased 27% to $1.33
- Average monthly revenue per payer rose 23% to $288
- Strong net cash position of $303 million, or $6.12 per ADS
- Operating expenses increased 9% year-over-year to $52.0 million
- Average Monthly Active Users (MAUs) decreased from 1,804,000 to 1,389,000
- Average Daily Active Users (DAUs) declined from 793,000 to 664,000
Insights
DoubleDown Interactive's Q2 2024 results show strong financial performance. Revenue increased 17% year-over-year to
Key metrics improved significantly: ARPDAU rose 27% to
With a strong net cash position of
DoubleDown's Q2 results suggest it's gaining market share in the competitive social casino space. The 7% revenue growth in its core business outpaces industry averages, indicating effective player engagement strategies. The introduction of new meta features in DoubleDown Casino appears to be driving this success.
The acquisition of SuprNation marks a strategic entry into the European iGaming market, diversifying revenue streams. This move could provide long-term growth opportunities, but also exposes the company to new regulatory risks.
The improvement in key metrics like ARPDAU and payer conversion (up to
SEATTLE, Aug. 12, 2024 (GLOBE NEWSWIRE) -- DoubleDown Interactive Co., Ltd. (NASDAQ: DDI) (“DoubleDown” or the “Company”), a leading developer and publisher of digital games on mobile and web-based platforms, today announced unaudited financial results for the second quarter ended June 30, 2024.
Second Quarter 2024 vs. Second Quarter 2023 Summary:
- Revenue increased to
$88.2 million in the second quarter of 2024 from$75.2 million in the second quarter of 2023. SuprNation, a European iGaming operator (“SuprNation”) which was acquired by the Company on October 31, 2023, generated total revenue of$7.9 million in the second quarter of 2024. Revenue exclusive of the contributions from SuprNation increased7% to$80.3 million . - Operating expenses increased to
$52.0 million in the second quarter of 2024 from$47.7 million in the second quarter of 2023, primarily due to the second quarter 2024 inclusion of operating expenses related to SuprNation, partially offset by lower sales and marketing and research and development expenses. - Net income increased to
$33.3 million , or earnings per fully diluted common share of$13.39 ($0.67 per American Depositary Share (“ADS”)), in the second quarter of 2024, from net income of$24.4 million , or earnings per fully diluted common share of$9.83 ($0.49 per ADS), in the second quarter of 2023. Such increase was primarily due to higher revenue and lower overall sales and marketing and research and development expenses, partially offset by higher general and administrative expense which included new expenses for SuprNation. Each ADS represents 0.05 share of a common share. - Adjusted EBITDA increased to
$37.0 million for the second quarter of 2024 from$27.6 million in the second quarter of 2023. Adjusted EBITDA margin increased to41.9% in the second quarter of 2024 from36.7% in the second quarter of 2023. - Average Revenue Per Daily Active User (“ARPDAU”) for the Company’s social casino/free-to-play games increased to
$1.33 in the second quarter of 2024 from$1.05 in the second quarter of 2023 and from$1.26 in the first quarter of 2024. - Average monthly revenue per payer for the social casino/free-to-play games increased to
$288 in the second quarter of 2024 from$235 in the second quarter of 2023 and from$281 in the first quarter of 2024.
“We continued to drive strong growth across our business in the 2024 second quarter, with consolidated revenue rising
“Our SuprNation iGaming operations also had another solid quarter as 2024 second quarter revenue of
“Our disciplined approach to user acquisition and R&D spend delivers strong quarterly Adjusted EBITDA margins and free cash flow. As a result, we continue to improve our already strong financial position as we ended the second quarter with an aggregate net cash position of approximately
| Summary Operating Results for DoubleDown Interactive (Unaudited) | |||||||||||||||
| Three months ended June 30, | Six months ended June 30, | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| Revenue ($ MM) | $ | 88.2 | $ | 75.2 | $ | 176.4 | $ | 152.8 | |||||||
| Total operating expenses | 52.0 | 47.7 | 109.1 | 99.9 | |||||||||||
| Net income ($ MM) | $ | 33.3 | $ | 24.4 | $ | 63.6 | $ | 48.0 | |||||||
| Adjusted EBITDA ($ MM) | $ | 37.0 | $ | 27.6 | $ | 68.9 | $ | 53.0 | |||||||
| Net income margin | 37.7 | % | 32.4 | % | 36.1 | % | 31.4 | % | |||||||
| Adjusted EBITDA margin | 41.9 | % | 36.7 | % | 39.1 | % | 34.7 | % | |||||||
| Non-financial performance metrics | |||||||||||||||
| Average MAUs (000s) | 1,389 | 1,804 | 1,433 | 1,918 | |||||||||||
| Average DAUs (000s) | 664 | 793 | 681 | 817 | |||||||||||
| ARPDAU | $ | 1.33 | $ | 1.05 | $ | 1.29 | $ | 1.04 | |||||||
| Average monthly revenue per payer | $ | 288 | $ | 235 | $ | 285 | $ | 228 | |||||||
| Payer conversion | 6.7 | % | 6.0 | % | 6.5 | % | 5.9 | % | |||||||
(1) Social casino/free-to-play games only
Second Quarter 2024 Financial Results
Revenue inclusive of the contributions from SuprNation in the second quarter of 2024 was
Operating expenses in the second quarter of 2024 increased
Net income increased to
Adjusted EBITDA in the second quarter of 2024 increased
Net cash flows provided by operating activities for the second quarter of 2024 was
Conference Call
DoubleDown will hold a conference call today (August 12, 2024) at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time) to discuss these results. A question-and-answer session will follow management’s presentation.
To access the call, please use the following link: DoubleDown Second Quarter 2024 Earnings Call. After registering, an email will be sent, including dial-in details and a unique conference call access code required to join the live call. To ensure you are connected prior to the beginning of the call, please register a minimum of 15 minutes before the start of the call.
A simultaneous webcast of the conference call will be available with the following link: DoubleDown Second Quarter 2024 Earnings Webcast, or via the Investor Relations page of the DoubleDown website at ir.doubledowninteractive.com. For those not planning to ask a question on the conference call, the Company recommends listening via the webcast. A replay will be available on the Company’s Investor Relations website shortly after the event.
About DoubleDown Interactive
DoubleDown Interactive Co., Ltd. is a leading developer and publisher of digital games on mobile and web-based platforms. We are the creators of multi-format interactive entertainment experiences for casual players, bringing authentic Vegas entertainment to players around the world through an online social casino experience. The Company’s flagship social casino title, DoubleDown Casino, has been a fan-favorite game on leading social and mobile platforms for years, entertaining millions of players worldwide with a lineup of classic and modern games. Following its acquisition of SuprNation in October 2023, the Company also operates three real-money iGaming sites in Western Europe.
Safe Harbor Statement
Certain statements contained in this press release are “forward-looking statements” about future events and expectations for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on our beliefs, assumptions, and expectations of industry trends, our future financial and operating performance, and our growth plans, taking into account the information currently available to us. These statements are not statements of historical fact. We have based these forward-looking statements on our current expectations and assumptions about future events. While our management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control. Therefore, you should not place undue reliance on such statements. Words such as “anticipates,” believes,” “continues,” “estimates,” “expects,” “goal,” “objectives,” “intends,” “may,” “opportunity,” “plans,” potential,” “near-term,” long-term,” “projections,” “assumptions,” “projects,” “guidance,” “forecasts,” “outlook,” “target,” “trends,” “should,” “could,” “would,” “will,” and similar expressions are intended to identify such forward-looking statements. We qualify any forward-looking statements entirely by these cautionary factors. We assume no obligation to update or revise any forward-looking statements for any reason or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
Use and Reconciliation of Non-GAAP Financial Measures
In addition to our results determined in accordance with the accounting principles generally accepted in the United States of America (“GAAP”), we believe the following non-GAAP financial measure is useful in evaluating our operating performance. We present “adjusted earnings before interest, taxes, depreciation and amortization” (“Adjusted EBITDA”) because we believe it assists investors and analysts by facilitating comparison of period-to-period operational performance on a consistent basis by excluding items that we do not believe are indicative of our core operating performance. The items excluded from the Adjusted EBITDA may have a material impact on our financial results. Certain of those items are non-recurring, while others are non-cash in nature. Accordingly, the Adjusted EBITDA is presented as supplemental disclosure and should not be considered in isolation of, as a substitute for, or superior to, the financial information prepared in accordance with GAAP, and should be read in conjunction with the financial statements furnished in our report on Form 6-K filed with the SEC.
In our reconciliation from our reported GAAP “net income before provision for taxes” to our Adjusted EBITDA, we eliminate the impact of the following six line items: (i) depreciation and amortization; (ii) interest income; (iii) interest expense; (iv) foreign currency transaction/remeasurement (gain) loss; (v) short-term investments (gain) loss; and (vi) other (income) expense, net. The below table sets forth the full reconciliation of our non-GAAP measures:
| Reconciliation of non-GAAP measures | Three months ended June 30, | Six months ended June 30, | |||||||||||||
| (in millions, except percentages) | 2024 | 2023 | 2024 | 2023 | |||||||||||
| Net income (loss) | $ | 33.3 | $ | 24.4 | $ | 63.6 | $ | 48.0 | |||||||
| Income tax expense (benefit) | 9.4 | 7.6 | 17.4 | 14.3 | |||||||||||
| Income (loss) before tax | 42.6 | 31.9 | 81.0 | 62.3 | |||||||||||
| Adjustments for: | |||||||||||||||
| Depreciation and amortization | 0.8 | - | 1.6 | 0.1 | |||||||||||
| Interest income | (3.8 | ) | (4.2 | ) | (7.3 | ) | (7.4 | ) | |||||||
| Interest expense | 0.4 | 0.4 | 0.8 | 0.9 | |||||||||||
| Foreign currency transaction/remeasurement (gain) loss | (2.9 | ) | (0.7 | ) | (7.2 | ) | (3.1 | ) | |||||||
| Short-term investments (gain) loss | - | 0.1 | - | 0.1 | |||||||||||
| Other (income) expense, net | (0.2 | ) | - | (0.2 | ) | 0.1 | |||||||||
| Adjusted EBITDA | $ | 37.0 | $ | 27.6 | $ | 68.9 | $ | 53.0 | |||||||
| Adjusted EBITDA margin | 41.9 | % | 36.7 | % | 39.1 | % | 34.7 | % | |||||||
We encourage investors and others to review our financial information in its entirety and not to rely on any single financial measure.
Company Contact:
Joe Sigrist
ir@doubledown.com
+1 (206) 773-2266
Chief Financial Officer
https://www.doubledowninteractive.com
Investor Relations Contact:
Joseph Jaffoni or Richard Land
JCIR
+1 (212) 835-8500
DDI@jcir.com
| DoubleDown Interactive Co., Ltd. Condensed Consolidated Balance Sheets (In thousands of U.S. dollars, except share and per share amounts) | |||||
| June 30, | December 31, | ||||
| 2024 | 2023 | ||||
| Assets | (unaudited) | ||||
| Current assets: | |||||
| Cash and cash equivalents | $ | 269,155 | $ | 206,911 | |
| Short-term investments | 70,000 | 67,756 | |||
| Accounts receivable, net | 34,000 | 32,517 | |||
| Prepaid expenses, and other assets | 7,774 | 8,570 | |||
| Total current assets | $ | 380,929 | $ | 315,754 | |
| Property and equipment, net | 347 | 444 | |||
| Operating lease right-of-use assets, net | 6,660 | 7,130 | |||
| Intangible assets, net | 49,559 | 51,571 | |||
| Goodwill | 396,236 | 396,704 | |||
| Deferred tax asset | 17,432 | 28,934 | |||
| Other non-current assets | 1,479 | 2,807 | |||
| Total assets | $ | 852,642 | $ | 803,344 | |
| Liabilities and Shareholders’ Equity | |||||
| Accounts payable and accrued expenses(1) | $ | 13,249 | $ | 13,293 | |
| Short-term operating lease liabilities(2) | 1,362 | 3,157 | |||
| Income taxes payable | 2,532 | 112 | |||
| Contract liabilities | 1,777 | 2,520 | |||
| Current portion of borrowing with related party(3) | - | 38,778 | |||
| Other current liabilities(4) | 1,474 | 10,645 | |||
| Total current liabilities | $ | 20,394 | $ | 68,505 | |
| Long-term borrowings with related party(5) | 35,992 | - | |||
| Long-term operating lease liabilities(6) | 5,472 | 4,420 | |||
| Deferred tax liabilities, net | 543 | 848 | |||
| Other non-current liabilities(7) | 3,932 | 1,681 | |||
| Total liabilities | $ | 66,333 | $ | 75,454 | |
| Shareholders’ equity | |||||
| Common stock, KRW 10,000 par value - 200,000,000 Shares authorized; 2,477,672, issued and outstanding | 21,198 | 21,198 | |||
| Additional paid-in-capital | 359,280 | 359,280 | |||
| Accumulated other comprehensive income | 14,986 | 19,982 | |||
| Retained earnings | 390,758 | 327,273 | |||
| Total shareholders’ equity attributable to shareowners of DDI Co. Ltd. | $ | 786,222 | $ | 727,733 | |
| Equity attributable to noncontrolling interests | 87 | 157 | |||
| Total equity | $ | 786,309 | $ | 727,890 | |
| Total liabilities and shareholders’ equity | $ | 852,642 | $ | 803,344 | |
| (1) Includes related party royalty and other payables of | |||||
| (2) Includes related party operating lease liability of | |||||
| (3) Includes related party notes payable of | |||||
| (4) Includes related party interest payable of | |||||
| (5) Includes related party notes payable of | |||||
| (6) Includes related party operating lease liability of | |||||
| (7) Includes related party interest payable of | |||||
| DoubleDown Interactive Co., Ltd. Condensed Consolidated Statement of Income and Comprehensive Income (Unaudited, in thousands except share and per share amounts) | |||||||||||||||
| Three months ended June 30, | Six months ended June 30, | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| Revenue | $ | 88,236 | $ | 75,187 | $ | 176,379 | $ | 152,783 | |||||||
| Operating expenses: | |||||||||||||||
| Cost of revenue(1)(2) | 26,820 | 24,905 | 54,193 | 50,624 | |||||||||||
| Sales and marketing(1) | 11,107 | 13,103 | 25,867 | 29,148 | |||||||||||
| Research and development(1) | 3,191 | 5,069 | 6,447 | 10,112 | |||||||||||
| General and administrative(1)(3) | 10,106 | 4,540 | 20,977 | 9,882 | |||||||||||
| Depreciation and amortization | 819 | 48 | 1,647 | 103 | |||||||||||
| Total operating expenses | 52,043 | 47,665 | 109,131 | 99,869 | |||||||||||
| Operating income | $ | 36,193 | $ | 27,522 | $ | 67,248 | $ | 52,914 | |||||||
| Other income (expense): | |||||||||||||||
| Interest expense(4) | (426 | ) | (436 | ) | (835 | ) | (898 | ) | |||||||
| Interest income | 3,829 | 4,249 | 7,260 | 7,379 | |||||||||||
| Gain on foreign currency transactions | 3,396 | 2,478 | 4,113 | 2,730 | |||||||||||
| Gain (loss) on foreign currency remeasurement | (527 | ) | (1,778 | ) | 3,062 | 388 | |||||||||
| Gain (loss) on short-term investments | (7 | ) | (70 | ) | (13 | ) | (70 | ) | |||||||
| Other, net | 182 | (47 | ) | 158 | (94 | ) | |||||||||
| Total other income (expense), net | $ | 6,447 | $ | 4,396 | $ | 13,745 | $ | 9,435 | |||||||
| Income before income tax | $ | 42,640 | $ | 31,918 | $ | 80,993 | $ | 62,349 | |||||||
| Income tax (expense) benefit | (9,375 | ) | (7,561 | ) | (17,367 | ) | (14,320 | ) | |||||||
| Net income | $ | 33,265 | $ | 24,357 | $ | 63,626 | $ | 48,029 | |||||||
| Less: Net income attributable to noncontrolling interests | 88 | - | 141 | - | |||||||||||
| Net income attributable to DoubleDown Interactive Co., Ltd. | $ | 33,177 | $ | 24,357 | $ | 63,485 | $ | 48,029 | |||||||
| Other comprehensive income (expense): | |||||||||||||||
| Pension adjustments, net of tax | (29 | ) | 49 | 107 | (108 | ) | |||||||||
| Loss on foreign currency translation | (2,079 | ) | (166 | ) | (5,165 | ) | (1,347 | ) | |||||||
| Other comprehensive income (expense) | $ | (2,108 | ) | $ | (118 | ) | $ | (5,058 | ) | $ | (1,456 | ) | |||
| Comprehensive income | $ | 31,157 | $ | 24,239 | $ | 58,568 | $ | 46,573 | |||||||
| Less: Comprehensive income attributable to noncontrolling interests | 88 | - | 79 | - | |||||||||||
| Comprehensive income attributable to DoubleDown Interactive Co., Ltd. | $ | 31,069 | $ | 24,239 | $ | 58,489 | $ | 46,573 | |||||||
| Earnings per share: | |||||||||||||||
| Basic | $ | 13.39 | $ | 9.83 | $ | 25.62 | $ | 19.38 | |||||||
| Diluted | $ | 13.39 | $ | 9.83 | $ | 25.62 | $ | 19.38 | |||||||
| Weighted average shares outstanding: | |||||||||||||||
| Basic | 2,477,672 | 2,477,672 | 2,477,672 | 2,477,672 | |||||||||||
| Diluted | 2,477,672 | 2,477,672 | 2,477,672 | 2,477,672 | |||||||||||
| (1) Excluding depreciation and amortization. | |||||||||||||||
| (2) Includes related party royalty expense of | |||||||||||||||
| (3) Includes related party rent and general and administrative expense of | |||||||||||||||
| (4) Includes related party interest expense of | |||||||||||||||
| DoubleDown Interactive Co., Ltd. Condensed Consolidated Statement of Cash Flows (Unaudited, in thousands of U.S. dollars) | |||||||
| Six months ended June 30, | |||||||
| 2024 | 2023 | ||||||
| Cash flow from (used in) operating activities: | |||||||
| Net Income (loss) | $ | 63,626 | $ | 48,029 | |||
| Adjustments to reconcile net income to net cash from operating activities: | |||||||
| Depreciation and amortization | 1,647 | 103 | |||||
| Gain on foreign currency remeasurement | (3,062 | ) | (388 | ) | |||
| Loss on short-term investments | 13 | 70 | |||||
| Deferred taxes | 11,166 | 13,655 | |||||
| Working capital adjustments: | |||||||
| Accounts receivable | (1,737 | ) | (5,656 | ) | |||
| Prepaid expenses, other current and non-current assets | 2,482 | 1,528 | |||||
| Accounts payable, accrued expenses and other payables | (17 | ) | (601 | ) | |||
| Contract liabilities | (743 | ) | (219 | ) | |||
| Income tax payable | 2,456 | 5 | |||||
| Other current and non-current liabilities | (6,539 | ) | (94,121 | ) | |||
| Net cash flows from (used in) operating activities | $ | 69,292 | $ | (37,595 | ) | ||
| Cash flow from (used in) investing activities: | |||||||
| Purchases of property and equipment | (16 | ) | (118 | ) | |||
| Purchases of short-term investments | (71,742 | ) | (61,325 | ) | |||
| Sales of short-term investments | 66,961 | 66,440 | |||||
| Net cash flows from (used in) investing activities | $ | (4,797 | ) | $ | 4,997 | ||
| Cash flow from (used in) financing activities: | |||||||
| Dividends distributed to noncontrolling interests | (149 | ) | - | ||||
| Net cash flows from (used in) financing activities: | $ | (149 | ) | $ | - | ||
| Net foreign exchange difference on cash and cash equivalents | (2,102 | ) | (283 | ) | |||
| Net increase (decrease) in cash and cash equivalents | $ | 62,244 | $ | (32,881 | ) | ||
| Cash and cash equivalents at beginning of period | $ | 206,911 | $ | 217,352 | |||
| Cash and cash equivalents at end of period | $ | 269,155 | $ | 184,471 | |||
| Cash paid during year for: | |||||||
| Interest | $ | 9,938 | $ | - | |||
| Income taxes | $ | 2,110 | $ | 299 | |||
FAQ
What was DoubleDown Interactive's revenue in Q2 2024?
How much did SuprNation contribute to DDI's Q2 2024 revenue?
What was DDI's net income for Q2 2024?
How did DDI's Adjusted EBITDA perform in Q2 2024?
What was DoubleDown Interactive's ARPDAU for social casino games in Q2 2024?
