DoubleDown Interactive Reports Third Quarter 2024 Financial Results
DoubleDown Interactive (NASDAQ: DDI) reported strong Q3 2024 financial results, with revenue increasing 14% to $83.0 million from $73.0 million in Q3 2023. The growth includes contributions of $7.8 million from recently acquired SuprNation and a 3% increase in core social casino revenue. Net income decreased to $25.1 million ($0.51 per ADS) from $26.9 million in Q3 2023. Adjusted EBITDA rose 22% to $36.1 million, with margin improving to 43.5%. The company maintained strong cash flow generation with $31.8 million from operations and ended Q3 with a net cash position of approximately $335 million.
DoubleDown Interactive (NASDAQ: DDI) ha riportato risultati finanziari solidi per il terzo trimestre del 2024, con un aumento del fatturato del 14%, che ha raggiunto 83,0 milioni di dollari rispetto ai 73,0 milioni di dollari nel terzo trimestre del 2023. Questa crescita include contributi di 7,8 milioni di dollari provenienti dalla recente acquisizione di SuprNation e un incremento del 3% nel fatturato dei casinò sociali core. L'utile netto è diminuito a 25,1 milioni di dollari (0,51 dollari per ADS) rispetto ai 26,9 milioni di dollari nel terzo trimestre del 2023. L'EBITDA rettificato è aumentato del 22%, raggiungendo 36,1 milioni di dollari, con un margine in miglioramento al 43,5%. L'azienda ha mantenuto una forte generazione di flusso di cassa, con 31,8 milioni di dollari provenienti dalle operazioni, e ha concluso il terzo trimestre con una posizione di cassa netta di circa 335 milioni di dollari.
DoubleDown Interactive (NASDAQ: DDI) reportó resultados financieros sólidos para el tercer trimestre de 2024, con un aumento del 14% en los ingresos, alcanzando 83,0 millones de dólares en comparación con 73,0 millones de dólares en el tercer trimestre de 2023. Este crecimiento incluye contribuciones de 7,8 millones de dólares de la recientemente adquirida SuprNation y un incremento del 3% en los ingresos del casino social principal. La ganancia neta disminuyó a 25,1 millones de dólares (0,51 dólares por ADS) desde 26,9 millones de dólares en el tercer trimestre de 2023. El EBITDA ajustado aumentó un 22% a 36,1 millones de dólares, con un margen mejorando al 43,5%. La compañía mantuvo una fuerte generación de flujo de efectivo, con 31,8 millones de dólares en operaciones y cerró el tercer trimestre con una posición de efectivo neto de aproximadamente 335 millones de dólares.
더블다운 인터랙티브 (NASDAQ: DDI)는 2024년 3분기 재무 결과가 강력하다고 보고하며, 매출이 14% 증가하여 8,300만 달러에 도달했다고 발표했습니다. 이는 2023년 3분기의 7,300만 달러에서 증가한 수치입니다. 이번 성장에는 최근 인수한 SuprNation으로부터의 780만 달러의 기여와 핵심 소셜 카지노 매출의 3% 증가가 포함됩니다. 순이익은 3분기 2,690만 달러에서 2,510만 달러 (ADS당 0.51 달러)로 감소했습니다. 조정 EBITDA는 3,610만 달러로 22% 증가했으며, 마진은 43.5%로 개선되었습니다. 회사는 운영에서 3,180만 달러의 강력한 현금 흐름을 유지했으며, 3분기 종료 시 약 3억 3,500만 달러의 순현금 위치를 기록했습니다.
DoubleDown Interactive (NASDAQ: DDI) a annoncé de solides résultats financiers pour le troisième trimestre 2024, avec des revenus en hausse de 14 %, atteignant 83,0 millions de dollars contre 73,0 millions de dollars au troisième trimestre 2023. Cette croissance inclut des contributions de 7,8 millions de dollars provenant de l'acquisition récente de SuprNation et une augmentation de 3 % des revenus des casinos sociaux principaux. Le bénéfice net a diminué à 25,1 millions de dollars (0,51 dollar par ADS) contre 26,9 millions de dollars au troisième trimestre 2023. L'EBITDA ajusté a augmenté de 22 % pour atteindre 36,1 millions de dollars, avec une marge améliorée à 43,5 %. L'entreprise a maintenu une génération de flux de trésorerie solide, avec 31,8 millions de dollars provenant des opérations et a terminé le troisième trimestre avec une position de trésorerie nette d'environ 335 millions de dollars.
DoubleDown Interactive (NASDAQ: DDI) hat starke finanzielle Ergebnisse für das dritte Quartal 2024 berichtet, mit einem Umsatzanstieg von 14% auf 83,0 Millionen Dollar im Vergleich zu 73,0 Millionen Dollar im dritten Quartal 2023. Das Wachstum umfasst Beiträge von 7,8 Millionen Dollar von dem kürzlich gegründeten SuprNation sowie einen Anstieg der Kernumsätze im sozialen Casino um 3%. Der Nettogewinn sank auf 25,1 Millionen Dollar (0,51 Dollar pro ADS) von 26,9 Millionen Dollar im dritten Quartal 2023. Das bereinigte EBITDA stieg um 22% auf 36,1 Millionen Dollar, wobei die Marge auf 43,5% anstieg. Das Unternehmen erzielte einen starken Cashflow von 31,8 Millionen Dollar aus den Betrieben und schloss das dritte Quartal mit einer Nettocash-Position von etwa 335 Millionen Dollar ab.
- Revenue increased 14% YoY to $83.0 million
- Adjusted EBITDA grew 22% to $36.1 million with improved margin of 43.5%
- Strong cash flow from operations of $31.8 million
- Core social casino revenue grew 3% YoY to $75.2 million
- Solid net cash position of $335 million
- Net income decreased to $25.1 million from $26.9 million YoY
- Operating expenses increased 10% to $47.7 million
- Foreign currency translation losses impacted bottom line
Insights
The Q3 2024 results show notable strength in DoubleDown's business performance. Revenue grew 14% to
Key operational metrics are robust - ARPDAU increased to
The gaming metrics reveal important market dynamics. While Monthly Active Users decreased to 1.31M from 1.67M year-over-year, improved monetization through higher payer conversion (
SEOUL, South Korea, Nov. 11, 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 third quarter ended September 30, 2024.
Third Quarter 2024 vs. Third Quarter 2023 Summary:
- Revenue increased to
$83.0 million in the third quarter of 2024 from$73.0 million in the third quarter of 2023. SuprNation, a European iGaming operator (“SuprNation”) which was acquired by the Company on October 31, 2023, generated total revenue of$7.8 million in the third quarter of 2024. Revenue exclusive of the contributions from SuprNation increased3% to$75.2 million .
- Operating expenses increased to
$47.7 million in the third quarter of 2024 from$43.3 million in the third quarter of 2023, primarily due to the third quarter 2024 inclusion of operating expenses related to SuprNation, partially offset by lower sales and marketing and research and development expenses.
- Net income decreased to
$25.1 million , or earnings per fully diluted common share of$10.11 ($0.51 per American Depositary Share (“ADS”)), in the third quarter of 2024, from net income of$26.9 million , or earnings per fully diluted common share of$10.87 ($0.54 per ADS), in the third quarter of 2023. The decrease was primarily due to loss on foreign currency translation and higher general and administrative expense which included new expenses for SuprNation, partially offset by higher revenue and lower overall sales and marketing and research and development expenses. Each ADS represents 0.05 share of a common share.
- Adjusted EBITDA increased to
$36.1 million for the third quarter of 2024 from$29.7 million in the third quarter of 2023. Adjusted EBITDA margin increased to43.5% in the third quarter of 2024 from40.7% in the third quarter of 2023.
- Average Revenue Per Daily Active User (“ARPDAU”) for the Company’s social casino/free-to-play games increased to
$1.30 in the third quarter of 2024 from$1.06 in the third quarter of 2023 and slightly decreased from$1.33 in the second quarter of 2024.
- Average monthly revenue per payer for the social casino/free-to-play games increased to
$281 in the third quarter of 2024 from$245 in the third quarter of 2023 and slightly decreased from$288 in the second quarter of 2024.
“The third quarter marked another period of strong performance with consolidated revenue rising
“Our SuprNation iGaming operations continue to generate higher quarterly revenue compared to the estimated level the business was achieving prior to our acquisition in October 2023. As we gain more experience with operating our first real money casino site, our focus for the business continues to emphasize go-to-market initiatives, including marketing and player-engagement strategies, that are consistent with our commitment to drive profitable revenue growth and positive cash flow contributions.
“Our disciplined approach to user acquisition and R&D spend delivers exceptional quarterly Adjusted EBITDA margins and free cash flow which continues to further solidify our strong balance sheet and financial position. We ended the third quarter with an aggregate net cash position of approximately
Summary Operating Results for DoubleDown Interactive (Unaudited)
| Three months ended September 30, | Nine months ended September 30, | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| Revenue ($ MM) | $ | 83.0 | $ | 73.0 | $ | 259.4 | $ | 225.8 | |||||||
| Total operating expenses | 47.7 | 43.3 | 156.9 | 143.2 | |||||||||||
| Net income ($ MM) | $ | 25.1 | $ | 29.7 | $ | 88.8 | $ | 82.8 | |||||||
| Adjusted EBITDA ($ MM) | $ | 36.1 | $ | 26.9 | $ | 105.0 | $ | 75.0 | |||||||
| Net income margin | |||||||||||||||
| Adjusted EBITDA margin | |||||||||||||||
| Non-financial performance metrics | |||||||||||||||
| Average MAUs (000s) | 1,312 | 1,675 | 1,393 | 1,837 | |||||||||||
| Average DAUs (000s) | 632 | 749 | 665 | 794 | |||||||||||
| ARPDAU | $ | 1.30 | $ | 1.06 | $ | 1.30 | $ | 1.05 | |||||||
| Average monthly revenue per payer | $ | 281 | $ | 245 | $ | 283 | $ | 234 | |||||||
| Payer conversion | |||||||||||||||
| (1) Social casino/free-to-play games only | |||||||||||||||
Third Quarter 2024 Financial Results
Revenue in the third quarter of 2024, inclusive of the contributions from SuprNation, was
Operating expenses in the third quarter of 2024 increased
Net income was
Adjusted EBITDA in the third quarter of 2024 increased
Net cash flows provided by operating activities for the third quarter of 2024 increased to
Conference Call
DoubleDown will hold a conference call today (November 11, 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 Third 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 Third 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 September 30, | Nine months ended September 30, | |||||||||||
| (in millions, except percentages) | 2024 | 2023 | 2024 | 2023 | |||||||||
| Net income (loss) | $ | 25.1 | $ | 26.9 | $ | 88.8 | $ | 75.0 | |||||
| Income tax benefit (expense) | 8.8 | 7.8 | 26.2 | 22.1 | |||||||||
| Income (loss) before tax | 33.9 | 34.7 | 114.9 | 97.1 | |||||||||
| Adjustments for: | |||||||||||||
| Depreciation and amortization | 0.8 | 0.1 | 2.5 | 0.2 | |||||||||
| Interest income | (4.0 | ) | (3.1 | ) | (11.3 | ) | (10.5 | ) | |||||
| Interest expense | 0.5 | 0.4 | 1.3 | 1.3 | |||||||||
| Foreign currency transaction/remeasurement (gain) loss | 4.9 | (2.3 | ) | (2.3 | ) | (5.4 | ) | ||||||
| Short-term investments (gain) loss | 7 | - | 0.0 | 0.1 | |||||||||
| Other (income) expense, net | (0.0 | ) | (0.1 | ) | (0.2 | ) | - | ||||||
| Adjusted EBITDA | $ | 36.1 | $ | 29.7 | $ | 105.0 | $ | 82.8 | |||||
| Adjusted EBITDA margin | |||||||||||||
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) | |||||
| September 30, | December 31, | ||||
| 2024 | 2023 | ||||
| Assets | (unaudited) | ||||
| Current assets: | |||||
| Cash and cash equivalents | $ | 292,651 | $ | 206,911 | |
| Short-term investments | 80,000 | 67,756 | |||
| Accounts receivable, net | 33,376 | 32,517 | |||
| Prepaid expenses, and other assets | 9,895 | 8,570 | |||
| Total current assets | $ | 415,922 | $ | 315,754 | |
| Property and equipment, net | 583 | 444 | |||
| Operating lease right-of-use assets, net | 4,450 | 7,130 | |||
| Intangible assets, net | 49,377 | 51,571 | |||
| Goodwill | 396,887 | 396,704 | |||
| Deferred tax asset | 10,936 | 28,934 | |||
| Other non-current assets | 1,694 | 2,807 | |||
| Total assets | $ | 879,849 | $ | 803,344 | |
| Liabilities and Shareholders’ Equity | |||||
| Accounts payable and accrued expenses(1) | $ | 13,203 | $ | 13,293 | |
| Short-term operating lease liabilities(2) | 917 | 3,157 | |||
| Income taxes payable | 240 | 112 | |||
| Contract liabilities | 1,482 | 2,520 | |||
| Current portion of borrowing with related party(3) | - | 38,778 | |||
| Other current liabilities(4) | 3,728 | 10,645 | |||
| Total current liabilities | $ | 19,570 | $ | 68,505 | |
| Long-term borrowings with related party(5) | 37,890 | - | |||
| Long-term operating lease liabilities(6) | 3,753 | 4,420 | |||
| Deferred tax liabilities, net | 360 | 848 | |||
| Other non-current liabilities(7) | 2,668 | 1,681 | |||
| Total liabilities | $ | 64,241 | $ | 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 | 19,253 | 19,982 | |||
| Retained earnings | 415,800 | 327,273 | |||
| Total shareholders’ equity attributable to shareowners of DDI Co. Ltd. | $ | 815,531 | $ | 727,733 | |
| Equity attributable to noncontrolling interests | 77 | 157 | |||
| Total equity | $ | 815,608 | $ | 727,890 | |
| Total liabilities and shareholders’ equity | $ | 879,849 | $ | 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 September 30, | Nine months ended September 30, | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| Revenue | $ | 82,981 | $ | 72,983 | $ | 259,360 | $ | 225,766 | |||||||
| Operating expenses: | |||||||||||||||
| Cost of revenue(1)(2) | 24,760 | 23,658 | 78,953 | 74,282 | |||||||||||
| Sales and marketing(1) | 8,864 | 10,585 | 34,731 | 39,733 | |||||||||||
| Research and development(1) | 2,537 | 4,361 | 8,984 | 14,473 | |||||||||||
| General and administrative(1)(3) | 10,747 | 4,644 | 31,725 | 14,526 | |||||||||||
| Depreciation and amortization | 834 | 55 | 2,480 | 158 | |||||||||||
| Total operating expenses | 47,742 | 43,303 | 156,873 | 143,172 | |||||||||||
| Operating income | $ | 35,239 | $ | 29,680 | $ | 102,487 | $ | 82,594 | |||||||
| Other income (expense): | |||||||||||||||
| Interest expense(4) | (457 | ) | (443 | ) | (1,292 | ) | (1,341 | ) | |||||||
| Interest income | 4,045 | 3,132 | 11,305 | 10,511 | |||||||||||
| Gain (loss) on foreign currency transactions | (341 | ) | 1,177 | 3,772 | 3,907 | ||||||||||
| Gain (loss) on foreign currency remeasurement | (4,582 | ) | 1,096 | (1,520 | ) | 1,484 | |||||||||
| Gain (loss) on short-term investments | (7 | ) | (7 | ) | (20 | ) | (76 | ) | |||||||
| Other, net | 40 | 91 | 198 | (4 | ) | ||||||||||
| Total other income (expense), net | $ | (1,302 | ) | $ | 5,046 | $ | 12,443 | $ | 14,481 | ||||||
| Income before income tax | $ | 33,937 | $ | 34,726 | $ | 114,930 | $ | 97,075 | |||||||
| Income tax (expense) | (8,794 | ) | (7,796 | ) | (26,161 | ) | (22,116 | ) | |||||||
| Net income | $ | 25,143 | $ | 26,930 | $ | 88,769 | $ | 74,959 | |||||||
| Less: Net income attributable to noncontrolling interests | 101 | - | 242 | - | |||||||||||
| Net income attributable to DoubleDown Interactive Co., Ltd. | $ | 25,042 | $ | 26,930 | $ | 88,527 | $ | 74,959 | |||||||
| Other comprehensive income (expense): | |||||||||||||||
| Pension adjustments, net of tax | 102 | (48 | ) | 208 | (156 | ) | |||||||||
| Gain (loss) on foreign currency translation | 4,165 | (1,821 | ) | (1,000 | ) | (3,168 | ) | ||||||||
| Other comprehensive income (expense) | 4,267 | (1,870 | ) | (792 | ) | (3,325 | ) | ||||||||
| Comprehensive income | $ | 29,410 | $ | 25,061 | $ | 87,977 | $ | 71,635 | |||||||
| Less: Comprehensive income attributable to noncontrolling interests | 101 | - | 179 | - | |||||||||||
| Comprehensive income attributable to DoubleDown Interactive Co., Ltd. | $ | 29,309 | $ | 25,061 | $ | 87,798 | $ | 71,635 | |||||||
| Earnings per share: | |||||||||||||||
| Basic | $ | 10.11 | $ | 10.87 | $ | 35.73 | $ | 30.25 | |||||||
| Diluted | $ | 10.11 | $ | 10.87 | $ | 35.73 | $ | 30.25 | |||||||
| 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) | |||||||
| Nine months ended September 30, | |||||||
| 2024 | 2023 | ||||||
| Cash flow from (used in) operating activities: | |||||||
| Net Income | $ | 88,769 | $ | 74,959 | |||
| Adjustments to reconcile net income to net cash from operating activities: | |||||||
| Depreciation and amortization | 2,480 | 158 | |||||
| (Gain)/Loss on foreign currency remeasurement | 1,520 | (1,484 | ) | ||||
| Loss on short-term investments | 20 | 76 | |||||
| Deferred taxes | 17,200 | 21,110 | |||||
| Working capital adjustments: | |||||||
| Accounts receivable | (948 | ) | (6,847 | ) | |||
| Prepaid expenses, other current and non-current assets | 520 | 1,090 | |||||
| Accounts payable, accrued expenses and other payables | (588 | ) | (3,381 | ) | |||
| Contract liabilities | (1,039 | ) | (382 | ) | |||
| Income tax payable | (1,713 | ) | 15 | ||||
| Loss contingency | - | (95,250 | ) | ||||
| Other current and non-current liabilities | (5,093 | ) | 1,055 | ||||
| Net cash flows from (used in) operating activities | $ | 101,128 | $ | (8,881 | ) | ||
| Cash flow from (used in) investing activities: | |||||||
| Purchases of intangible assets | $ | (5 | ) | $ | - | ||
| Purchases of property and equipment | (291 | ) | (173 | ) | |||
| Issuance of note receivable | - | (1,086 | ) | ||||
| Proceeds from disposal of property and equipment | 2 | - | |||||
| Purchases of short-term investments | (81,659 | ) | (47,465 | ) | |||
| Sales of short-term investments | 66,795 | 75,633 | |||||
| Net cash flows from (used in) investing activities | $ | (15,158 | ) | $ | 26,909 | ||
| Cash flow from (used in) financing activities: | |||||||
| Dividends distributed to noncontrolling interests | (320 | ) | - | ||||
| Net cash flows from (used in) financing activities: | $ | (320 | ) | $ | - | ||
| Net foreign exchange difference on cash and cash equivalents | 90 | (1,444 | ) | ||||
| Net increase in cash and cash equivalents | $ | 85,740 | $ | 16,584 | |||
| Cash and cash equivalents at beginning of period | $ | 206,911 | $ | 217,352 | |||
| Cash and cash equivalents at end of period | $ | 292,651 | $ | 233,936 | |||
| Cash paid during year for: | |||||||
| Interest | $ | 9,977 | $ | - | |||
| Income taxes | $ | 10,211 | $ | 20 | |||
FAQ
What was DoubleDown Interactive's (DDI) revenue in Q3 2024?
How much did SuprNation contribute to DDI's Q3 2024 revenue?
What was DDI's Adjusted EBITDA margin in Q3 2024?
How much cash flow did DDI generate from operations in Q3 2024?
