DoubleDown Interactive Co., Ltd. American Depository Shares - DDI STOCK NEWS

DoubleDown Interactive (NASDAQ: DDI) will hold an extraordinary general meeting (EGM) on August 26, 2022, in Seoul to address key resolutions. The Board aims to re-elect current directors In Keuk Kim, Joseph A. Sigrist, Ki Chul Kim, and Haenam Kim for another three-year term and elect Whanlim Kim as a non-executive independent director. Additionally, there will be a vote on capital reserve reduction of KRW 70 billion. Shareholders of record as of August 3, 2022, are entitled to vote, while ADS holders must exchange their shares to participate.

DoubleDown Interactive announced its participation in two significant investor conferences: the 17th Annual Needham Technology & Media Conference from May 16-18, 2022, and the 22nd Annual B. Riley Institutional Investor Conference on May 25-26, 2022. Management will host one-on-one meetings and present on May 16 at 11:45 a.m. ET and on May 26 at 4:40 p.m. ET, respectively. DoubleDown, known for its flagship title DoubleDown Casino, provides an online social casino experience, entertaining millions globally. More details can be found on their website.

On May 10, 2022, DoubleDown Interactive reported a decline in Q1 2022 financial results compared to Q1 2021. Revenues decreased to $85.5 million, down 11.6%. Adjusted EBITDA fell to $26.9 million, reflecting a margin drop to 31.5%. Net income also saw a decrease to $18.5 million, or $7.46 per share. Despite lower revenue, operating expenses declined by 14.4%. The company generated $28 million in net cash from operations, ending the quarter with $268 million in cash. Future plans include enhancements to existing titles and exploring M&A opportunities.

DoubleDown Interactive (NASDAQ: DDI) will host a conference call on May 10, 2022, at 5:00 p.m. Eastern Time to discuss its first-quarter results for the period ended March 31, 2022. The financial results will be released prior to this call, which will include a presentation followed by a Q&A session. Interested parties can join via U.S. dial-in number 1-888-705-0418 or international number 1-929-517-9007. A replay will be available after 8:00 p.m. Eastern Time on the same day through May 24, 2022.

DoubleDown Interactive (NASDAQ: DDI) will present at Tribe Public’s webinar titled “Doubling Down on Digital Social Casino” on April 12 at 11:00 a.m. ET. CEO In Keuk Kim and CFO Joe Sigrist will participate in a presentation and Q&A session. Interested attendees are encouraged to register for the complimentary event and submit questions to management prior to the webinar. Following the event, a replay will be available on DoubleDown’s Investor Relations website. The company specializes in digital social casino games, notably its flagship product, DoubleDown Casino.

DoubleDown Interactive reported its Q4 and full year 2021 financial results, showing a 5.2% decrease in quarterly revenues to $86.3 million compared to Q4 2020. However, net income increased to $17.5 million, up from $15.5 million last year. Full year revenues grew by 1.4% to $363.2 million, with net income rising to $78.2 million from $53.6 million in 2020. Adjusted EBITDA for Q4 was $25.8 million, down from $29.9 million, while the annual adjusted EBITDA remained stable at $120.1 million. The company reported strong cash flows of $96.1 million for the year and ended with a solid cash balance of $242 million.

DoubleDown Interactive (NASDAQ: DDI) scheduled a conference call for February 8, 2022, at 5:00 p.m. ET to discuss its fourth quarter and full-year financial results for 2021. Prior to the call, a press release will be issued containing these results. The call will include management presentations and a Q&A session. Interested parties can join using U.S. and international dial-in numbers provided and may access a replay of the call through February 22, 2022.

DoubleDown Interactive (NASDAQ: DDI) announced a $1.5 million investment in Epic Games, enhancing its exposure to the growing metaverse market. The investment was made through a venture fund alongside major Korean internet and gaming companies. Epic Games operates Fortnite and develops Unreal Engine, widely used in various industries. CEO In Keuk Kim emphasized the strategic nature of this investment, as the company seeks to explore mergers and acquisitions that align with its core business. This move reflects DoubleDown's commitment to expanding its digital gaming portfolio.

DoubleDown Interactive, a leader in digital social casino games, will participate in the 24th Annual Needham Virtual Growth Conference from January 10-14, 2022. Management's presentation is scheduled for January 14, 2022, at 12:30 p.m. ET, with one-on-one meetings available throughout the day. An audio webcast of the presentation will be accessible live and archived on the company's investor relations website. DoubleDown is known for its flagship title, DoubleDown Casino, which has entertained millions of players worldwide with a variety of games.