Inspired Reports Fourth Quarter and Year End 2024 Results
Inspired Entertainment (NASDAQ: INSE) reported strong Q4 2024 results with revenue of $83.0 million. The quarter was highlighted by record Interactive segment performance, showing 45% year-over-year revenue growth and 105% Adjusted EBITDA growth, with margins expanding from 50% to 71%.
The Gaming segment demonstrated solid growth with 42% increase in Q4 Adjusted EBITDA, while the Leisure segment posted 7% revenue growth. The company's Virtual Sports segment faced challenges but maintained high margins above 70%.
Key developments include:
- Installation of 5,000 new Vantage cabinets with William Hill
- Launch of Hybrid Dealer Roulette game with bet365 in the UK
- Strategic rollout of mobile and slot games in Brazil
- Extended partnership with Aristocrat Interactive for Virginia Lottery
- Partnership extension with Moto Hospitality and Welcome Break
Inspired Entertainment (NASDAQ: INSE) ha riportato risultati solidi per il quarto trimestre del 2024, con un fatturato di 83,0 milioni di dollari. Il trimestre è stato caratterizzato da prestazioni record nel segmento Interattivo, con una crescita del fatturato del 45% rispetto all'anno precedente e una crescita dell'EBITDA rettificato del 105%, con margini che sono passati dal 50% al 71%.
Il segmento Gaming ha dimostrato una crescita solida con un aumento del 42% dell'EBITDA rettificato nel quarto trimestre, mentre il segmento Leisure ha registrato una crescita del fatturato del 7%. Il segmento Sport Virtuali dell'azienda ha affrontato delle sfide ma ha mantenuto margini elevati superiori al 70%.
Sviluppi chiave includono:
- Installazione di 5.000 nuovi armadietti Vantage con William Hill
- Lancio del gioco Hybrid Dealer Roulette con bet365 nel Regno Unito
- Implementazione strategica di giochi mobili e slot in Brasile
- Estensione della partnership con Aristocrat Interactive per la Virginia Lottery
- Estensione della collaborazione con Moto Hospitality e Welcome Break
Inspired Entertainment (NASDAQ: INSE) reportó resultados sólidos para el cuarto trimestre de 2024, con ingresos de 83,0 millones de dólares. El trimestre se destacó por un rendimiento récord en el segmento Interactivo, mostrando un crecimiento de ingresos del 45% en comparación con el año anterior y un crecimiento de EBITDA ajustado del 105%, con márgenes que se expandieron del 50% al 71%.
El segmento de Juegos demostró un crecimiento sólido con un aumento del 42% en el EBITDA ajustado del cuarto trimestre, mientras que el segmento de Ocio registró un crecimiento de ingresos del 7%. El segmento de Deportes Virtuales de la empresa enfrentó desafíos, pero mantuvo márgenes altos por encima del 70%.
Desarrollos clave incluyen:
- Instalación de 5,000 nuevos gabinetes Vantage con William Hill
- Lanzamiento del juego Hybrid Dealer Roulette con bet365 en el Reino Unido
- Implementación estratégica de juegos móviles y de tragamonedas en Brasil
- Extensión de la asociación con Aristocrat Interactive para la Lotería de Virginia
- Extensión de la colaboración con Moto Hospitality y Welcome Break
Inspired Entertainment (NASDAQ: INSE)는 2024년 4분기 실적이 8,300만 달러로 강력하다고 보고했습니다. 이번 분기는 인터랙티브 부문에서 기록적인 성과를 보이며 전년 대비 45%의 매출 성장과 105%의 조정 EBITDA 성장을 기록했으며, 마진은 50%에서 71%로 확대되었습니다.
게임 부문은 4분기 조정 EBITDA가 42% 증가하는 등 견고한 성장을 보여주었고, 레저 부문은 7%의 매출 성장을 기록했습니다. 회사의 가상 스포츠 부문은 어려움에 직면했지만 70% 이상의 높은 마진을 유지했습니다.
주요 발전 사항은 다음과 같습니다:
- William Hill과 함께 5,000개의 새로운 Vantage 캐비닛 설치
- 영국에서 bet365와 함께 Hybrid Dealer Roulette 게임 출시
- 브라질에서 모바일 및 슬롯 게임의 전략적 롤아웃
- 버지니아 복권을 위한 Aristocrat Interactive와의 파트너십 연장
- Moto Hospitality 및 Welcome Break와의 파트너십 연장
Inspired Entertainment (NASDAQ: INSE) a annoncé des résultats solides pour le quatrième trimestre 2024, avec des revenus de 83,0 millions de dollars. Ce trimestre a été marqué par des performances record dans le segment Interactif, affichant une croissance des revenus de 45 % par rapport à l'année précédente et une croissance de l'EBITDA ajusté de 105 %, les marges passant de 50 % à 71 %.
Le segment Gaming a montré une croissance solide avec une augmentation de 42 % de l'EBITDA ajusté au quatrième trimestre, tandis que le segment Loisirs a affiché une croissance des revenus de 7 %. Le segment Sports Virtuels de l'entreprise a rencontré des défis mais a maintenu des marges élevées supérieures à 70 %.
Les développements clés comprennent:
- Installation de 5 000 nouveaux cabinets Vantage avec William Hill
- Lancement du jeu Hybrid Dealer Roulette avec bet365 au Royaume-Uni
- Déploiement stratégique de jeux mobiles et de machines à sous au Brésil
- Extension du partenariat avec Aristocrat Interactive pour la Loterie de Virginie
- Extension du partenariat avec Moto Hospitality et Welcome Break
Inspired Entertainment (NASDAQ: INSE) hat im vierten Quartal 2024 starke Ergebnisse mit einem Umsatz von 83,0 Millionen US-Dollar gemeldet. Das Quartal wurde durch eine rekordverdächtige Leistung im interaktiven Segment hervorgehoben, das ein Umsatzwachstum von 45% im Vergleich zum Vorjahr und ein Wachstum des bereinigten EBITDA von 105% zeigte, wobei die Margen von 50% auf 71% anstiegen.
Das Gaming-Segment zeigte ein solides Wachstum mit einem Anstieg des bereinigten EBITDA um 42% im vierten Quartal, während das Freizeitsegment ein Umsatzwachstum von 7% verzeichnete. Das virtuelle Sportsegment des Unternehmens hatte Herausforderungen zu bewältigen, hielt jedoch hohe Margen von über 70% aufrecht.
Wichtige Entwicklungen umfassen:
- Installation von 5.000 neuen Vantage-Cabinets mit William Hill
- Einführung des Hybrid Dealer Roulette-Spiels mit bet365 im Vereinigten Königreich
- Strategische Einführung von mobilen und Slot-Spielen in Brasilien
- Erweiterung der Partnerschaft mit Aristocrat Interactive für die Virginia Lottery
- Erweiterung der Partnerschaft mit Moto Hospitality und Welcome Break
- Record Interactive revenue growth of 45% YoY with 105% Adjusted EBITDA growth
- Interactive segment margins expanded significantly from 50% to 71%
- Gaming segment Adjusted EBITDA grew 42% in Q4
- Leisure segment revenue increased 7%
- Virtual Sports maintaining high margins above 70%
- Secured major partnerships with bet365, Virginia Lottery, and William Hill
- Virtual Sports segment faced challenges with a key customer
- Required strategic restructuring of Virtual Sports business operations
Insights
Inspired Entertainment's Q4 2024 results showcase impressive financial momentum with total revenue of
The Gaming segment showed strong recovery with
While Virtual Sports faced some headwinds with a key customer, management's strategic restructuring of product development teams under unified leadership represents a thoughtful response. The segment still maintains impressive
The company's diversified business model is proving resilient, with digital growth offsetting any softness in traditional segments. New market entries (Brazil), product innovations (Hybrid Dealer Roulette), and strategic partnerships (NHL, Virginia Lottery, bet365) provide multiple growth vectors for 2025. The
Inspired's Q4 results reveal an accelerating digital transformation strategy that's yielding significant returns. The Interactive segment is emerging as the company's growth engine with its
The Hybrid Dealer product represents a particularly innovative development in the iGaming space. Securing deployments with major operators like BetMGM (Michigan), Loto-Québec (Canada), and bet365 (UK) signals strong market reception. The planned expansion with Roulette 4 Ball Extra Bet in H2 2025 should maintain momentum. These products blend live dealer engagement with RNG mechanics, addressing both operational cost challenges of traditional live dealer games and player engagement limitations of standard RNG titles.
Strategically, management's decision to unify product and platform teams across segments under single leadership addresses development inefficiencies while potentially accelerating innovation cycles. The William Hill partnership and 5,000 Vantage cabinet deployment demonstrates continued demand for premium land-based hardware despite digital growth.
The company's multi-channel approach to content distribution enables efficient asset monetization, with games developed once but deployed across online, retail, and mobile channels. New market entries like Brazil represent significant growth potential, especially for the Interactive and Virtual Sports segments which require minimal physical infrastructure compared to traditional gaming operations.
- Fourth Quarter Revenue of
$83.0 million , driven primarily by record Interactive revenue, up45% year-over-year - Fourth Quarter Net Income of
$68.0 million and Adjusted Net Income of$4.7 million - Fourth Quarter Adjusted EBITDA of
$30.9 million , up22% from last year and driven by record Interactive Adjusted EBITDA, up105% year-over-year
NEW YORK, March 17, 2025 (GLOBE NEWSWIRE) -- Inspired Entertainment, Inc. (“Inspired” or the “Company”) (NASDAQ: INSE), a leading B2B provider of gaming content, technology, hardware and services, today reported financial results for the three-month period and fiscal year ended December 31, 2024.
“We ended the year with a fourth quarter that reflects the strength and resilience of our diversified business model," said Lorne Weil, Executive Chairman of Inspired. "We are pleased to report another quarter of robust performance in our Interactive segment, with revenue growing
"In our Gaming segment, we concluded 2024 with a strong fourth quarter, achieving
"While our Virtual Sports segment faced challenges over the past year, particularly with a key customer, we have initiated strategic measures to streamline business and product development. This includes unifying all of our product and platform teams across segments, including Virtual Sports, under one cohesive leadership group. We believe an integrated approach, combined with some innovative new products, will drive future growth. Despite the recent headwinds, we are encouraged by the high single-digit revenue growth from our broader customer base, driven by strong online performance. We remain confident in the long-term potential of this high-margin business, which continues to generate margins of over
"Our Leisure segment once again delivered steady growth with a
"As we look ahead, we are committed to executing our strategic priorities: expanding our digital businesses, optimizing our land-based operations, and investing in new market opportunities. The strong performance of our Interactive segment, improving profitability in Gaming, and our ongoing initiatives in Virtual Sports content and new markets give us confidence in our ability to drive sustainable growth and create value for our shareholders."
Recent Business Highlights
- Subsequent to quarter-end, began the strategic rollout of mobile and slot games catalogue in Brazil.
- Launched the Hybrid Dealer Roulette game in the U.K. with bet365 as the first UK customer for the innovative Hybrid Dealer product line.
- Extended partnership with Aristocrat Interactive to provide the Virginia Lottery with V-Lottery Virtual Sports games, making it the first U.S. lottery to offer this innovative online content.
- Subsequent to quarter-end, announced a long-term extension of its partnership with Moto Hospitality and Welcome Break, two of the UK’s largest motorway service operators.
| Summary of Fourth Quarter 2024 Segment Financial Results (unaudited) | |||||||||||||||||||
| Three Months Ended December 31, | Reported Variance | Currency Movement 20242 | Functional Currency Variance | ||||||||||||||||
| (In $ millions) | 2024 | 2023 | % | $ | % | ||||||||||||||
| Total Revenue | |||||||||||||||||||
| Gaming (excl. Low Margin Hardware Sales) | $ | 38.8 | $ | 39.3 | (1 | %) | $ | 0.7 | (3 | %) | |||||||||
| Virtual Sports | 10.1 | 12.9 | (22 | %) | 0.3 | (24 | %) | ||||||||||||
| Interactive | 11.6 | 8.0 | 45 | % | 0.3 | 41 | % | ||||||||||||
| Leisure | 22.5 | 21.0 | 7 | % | 0.7 | 4 | % | ||||||||||||
| Total Company Revenue (excl. Low Margin Gaming Hardware Sales) | $ | 83.0 | $ | 81.2 | 2 | % | $ | 2.0 | 5 | % | |||||||||
| Low Margin Gaming Hardware Sales | - | 3.5 | (100 | %) | - | (100 | %) | ||||||||||||
| Total Company Revenue (incl. Low Margin Gaming Hardware Sales) | $ | 83.0 | $ | 84.7 | (2 | %) | $ | 2.0 | 0 | % | |||||||||
| Net operating income | 14.0 | 7.3 | 90 | % | 0.4 | 85 | % | ||||||||||||
| Net income | 68.0 | (1.7 | ) | NM | 3 | 1.8 | NM | 3 | |||||||||||
| Net income (loss) per basic share | $ | 2.39 | $ | (0.06 | ) | NM | 3 | NM | 3 | NM | 3 | ||||||||
| Net income (loss) per diluted share | $ | 2.33 | $ | (0.06 | ) | NM | 3 | NM | 3 | NM | 3 | ||||||||
| Non-GAAP Financial Measures | |||||||||||||||||||
| Adjusted EBITDA1 | |||||||||||||||||||
| Gaming | $ | 19.5 | $ | 13.7 | 42 | % | 0.0 | 33 | % | ||||||||||
| Virtual Sports | 7.2 | 10.1 | (29 | %) | 0.4 | (32 | %) | ||||||||||||
| Interactive | 8.2 | 4.0 | 105 | % | 0.3 | 96 | % | ||||||||||||
| Leisure | 5.2 | 3.3 | 58 | % | 0.4 | 41 | % | ||||||||||||
| Corporate | (9.2 | ) | (5.8 | ) | (59 | %) | (0.7 | ) | (44 | %) | |||||||||
| Total Company Adjusted EBITDA1 | $ | 30.9 | $ | 25.3 | 22 | % | $ | 0.4 | 16 | % | |||||||||
| Adjusted EBITDA Margin1 | 37 | % | 30 | % | |||||||||||||||
| Adjusted EBITDA Margin (Excl. Low Margin Gaming Hardware Sales | 37 | % | 31 | % | |||||||||||||||
| Adjusted net income (loss)1 | $ | 4.7 | $ | 3.3 | (57 | %) | $ | 0.1 | (58 | %) | |||||||||
| Adjusted net income (loss) per diluted share | $ | 0.16 | $ | 0.11 | (57 | %) | NM | 3 | (57 | %) | |||||||||
| 1 Reconciliation to US GAAP shown below. | |||||||||||||||||||
| 2 Currency movement calculated by translating 2024 and 2023 performances at 2023 exchange rates. | |||||||||||||||||||
| 3 Percentage/dollar change is not meaningful. | |||||||||||||||||||
| Summary of Full Year 2024 Segment Financial Results (unaudited) | |||||||||||||||||||
| Twelve Months Ended December 31, | Reported Variance | Currency Movement 20242 | Functional Currency Variance | ||||||||||||||||
| (In $ millions) | 2024 | 2023 | % | $ | % | ||||||||||||||
| Total Revenue | |||||||||||||||||||
| Gaming (excl. Low Margin Hardware Sales) | $ | 110.6 | $ | 111.9 | (1 | %) | $ | 2.5 | (3 | %) | |||||||||
| Virtual Sports | 45.4 | 56.2 | (19 | %) | 1.2 | (21 | %) | ||||||||||||
| Interactive | 39.3 | 27.9 | 41 | % | 0.8 | 38 | % | ||||||||||||
| Leisure | 101.8 | 96.3 | 6 | % | 3.0 | 3 | % | ||||||||||||
| Total Company Revenue (excl. Low Margin Gaming Hardware Sales) | $ | 297.1 | $ | 292.3 | 2 | % | $ | 7.3 | 0 | % | |||||||||
| Low Margin Gaming Hardware Sales | - | 30.6 | (100 | %) | - | (100 | %) | ||||||||||||
| Total Company Revenue (incl. Low Margin Gaming Hardware Sales) | $ | 297.1 | $ | 322.9 | (8 | %) | $ | 7.3 | (10 | %) | |||||||||
| Net operating income | 31.7 | 37.8 | (17 | %) | (0.5 | ) | (17 | %) | |||||||||||
| Net income | 65.8 | 5.8 | NM | 3 | 1.6 | NM | 3 | ||||||||||||
| Net income (loss) per basic share | $ | 2.30 | $ | 0.21 | NM | 3 | NM | 3 | NM | 3 | |||||||||
| Net income (loss) per diluted share | $ | 2.25 | $ | 0.20 | NM | 3 | NM | 3 | NM | 3 | |||||||||
| Non-GAAP Financial Measures | |||||||||||||||||||
| Adjusted EBITDA1 | |||||||||||||||||||
| Gaming | $ | 45.3 | $ | 42.8 | 6 | % | 1.2 | 3 | % | ||||||||||
| Virtual Sports | 36.1 | 47.6 | (24 | %) | 1.3 | (27 | %) | ||||||||||||
| Interactive | 25.6 | 15.4 | 66 | % | 0.4 | 62 | % | ||||||||||||
| Leisure | 23.3 | 19.4 | 20 | % | 0.6 | 17 | % | ||||||||||||
| Corporate | (30.2 | ) | (26.0 | ) | (16 | %) | (1.2 | ) | (11 | %) | |||||||||
| Total Company Adjusted EBITDA1 | $ | 100.1 | $ | 99.2 | 1 | % | $ | 2.3 | (2 | %) | |||||||||
| Adjusted EBITDA Margin1 | 34 | % | 31 | % | |||||||||||||||
| Adjusted EBITDA Margin (Excl. Low Margin Gaming Hardware Sales | 34 | % | 34 | % | |||||||||||||||
| Adjusted net income1 | $ | 14.2 | $ | 14.8 | (15 | %) | $ | 0.3 | (17 | %) | |||||||||
| Adjusted net income per diluted share | $ | 0.49 | $ | 0.51 | (15 | %) | NM | 3 | (17 | %) | |||||||||
| 1 Reconciliation to US GAAP shown below. | |||||||||||||||||||
| 2 Currency movement calculated by translating 2024 and 2023 performances at 2023 exchange rates. | |||||||||||||||||||
| 3 Percentage/dollar change is not meaningful. | |||||||||||||||||||
Non-GAAP Financial Measures
We use non-GAAP financial measures, including Adjusted EBITDA, to analyze our operating performance. We use these financial measures to manage our business on a day-to-day basis. We believe that these measures are also commonly used in our industry to measure performance. For these reasons, we believe that these non-GAAP financial measures provide expanded insight into our business, in addition to standard U.S. GAAP financial measures. There are no uniform rules for defining and using non-GAAP financial measures, and as a result the measures we use may not be comparable to measures used by other companies, even if they have similar labels. The presentation of non-GAAP financial information should not be considered in isolation from, as a substitute for, or superior to, financial information prepared and presented in accordance with U.S. GAAP. You should consider our non-GAAP financial measures in conjunction with our U.S. GAAP financial statements.
We define our non-GAAP financial measures as follows:
EBITDA is defined as net income (loss) excluding depreciation and amortization, interest expense, interest income and income tax expense.
Adjusted EBITDA is defined as net income (loss) excluding depreciation and amortization, interest expense, interest income and income tax expense, and other additional exclusions and adjustments (see Adjusted EBITDA reconciliation table). Such additional excluded amounts include stock-based compensation U.S. GAAP charges where the associated liability is expected to be settled in stock, and changes in the value of earnout liabilities and income and expenditure in relation to legacy portions of the business (being those portions where trading no longer occurs) including closed defined benefit pension schemes. Additional adjustments are made for items considered outside the normal course of business, including (1) restructuring costs, which include charges attributable to employee severance, management changes, restructuring, dual running costs, costs related to facility closures and integration costs, (2) merger and acquisition costs, (3) gains or losses not in the ordinary course of business and (4) the costs of the restatement of previously issued financial statements.
We believe Adjusted EBITDA, when considered along with other performance measures, is a particularly useful performance measure, because it focuses on certain operating drivers of the business, including sales growth, operating costs, selling and administrative expense and other operating income and expense. We believe Adjusted EBITDA can provide a more complete understanding of our operating results and the trends to which we are subject, and an enhanced overall understanding of our financial performance and prospects for the future. Adjusted EBITDA is not intended to be a measure of liquidity or cash flows from operations or a measure comparable to net income or loss, because it does not take into account certain aspects of our operating performance (for example, it excludes non-recurring gains and losses which are not deemed to be a normal part of underlying business activities). Our use of Adjusted EBITDA may not be comparable to the use by other companies of similarly termed measures. Management compensates for these limitations by using Adjusted EBITDA as only one of several measures for evaluating our operating performance. In addition, capital expenditures, which affect depreciation and amortization, interest expense, and income tax benefit (expense), are evaluated separately by management.
Adjusted Net Income is defined as net income (loss) excluding the effects of certain exclusions and adjustments. Such excluded amounts include income and expenditure in relation to legacy portions of the business (being those portions where trading no longer occurs) including closed defined benefit pension schemes. Additional adjustments are made for items considered outside the normal course of business, including (1) restructuring costs, which include charges attributable to employee severance, management changes, restructuring, dual running costs, costs related to facility closures and integration costs, (2) merger and acquisition costs and (3) gains or losses not in the ordinary course of business. These items have been adjusted to reflect the tax impact from excluding them from net income (loss).
Adjusted Net Income per diluted share is computed by dividing the Adjusted Net Income by the weighted-average number of common shares outstanding during the period, including the effects of any potentially dilutive securities, including RSUs, using the treasury stock method, and convertible debt or convertible preferred stock, using the if-converted method, unless the inclusion would be anti-dilutive.
Functional Currency at Constant rate. Currency impacts shown have been calculated as the current-period average GBP:USD rate less the equivalent average rate in the prior year quarter, multiplied by the current period amount in our functional currency (GBP). The remaining difference, referred to as functional currency at constant rate, is calculated as the difference in our functional currency, multiplied by the prior year quarter average GBP: USD rate, as a proxy for functional currency at constant rate movement.
Currency Movement represents the difference between the results in our reporting currency (USD) and the results on a functional currency at constant rate basis.
Reconciliations from net income (loss), as shown in our Consolidated Statements of Operations and Comprehensive Loss, to Adjusted EBITDA are shown below.
Conference Call and Webcast
Inspired management will host a conference call and simultaneous webcast at 8:30 a.m. ET / 12:30 p.m. GMT on Monday, March 17, 2025 to discuss the financial results and general business trends.
Telephone: The dial-in number to access the call live is 1-800-715-9871 (US) or 1-646-307-1963 (International). Participants should ask to be joined into the Inspired Entertainment call.
Webcast: A live audio-only webcast of the call can be accessed through the “Events and Presentations” page of the Company’s website at www.inseinc.com under the Investors link. Please follow the registration prompts.
Replay: A replay of the webcast will be available on the Company’s website at www.inseinc.com.
About Inspired Entertainment, Inc.
Inspired offers an expanding portfolio of content, technology, hardware and services for regulated gaming, betting, lottery, social and leisure operators across retail and mobile channels around the world. The Company’s gaming, virtual sports, interactive and leisure products appeal to a wide variety of players, creating new opportunities for operators to grow their revenue. The Company operates in approximately 35 jurisdictions worldwide, supplying gaming systems with associated terminals and content for approximately 50,000 gaming machines located in betting shops, pubs, gaming halls and other route operations; virtual sports products through more than 32,000 retail venues and various online websites; interactive games for 170+ websites; and a variety of amusement entertainment solutions with a total installed base of more than 16,000 terminals. Additional information can be found at www.inseinc.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding our ability to bring certain of our products to customers in the various markets in which we operate and execute on our strategic plan, statements regarding expectations with respect to potential new customers and statements regarding our anticipated financial performance. Forward-looking statements may be identified by the use of words such as “anticipate,” “believe,” “continue,” “expect,” “estimate,” “plan,” “will,” “would” and “project” and other similar expressions that indicate future events or trends or are not statements of historical matters. These statements are based on Inspired management’s current expectations and beliefs, as well as a number of assumptions concerning future events.
Forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside of Inspired’s control and all of which could cause actual results to differ materially from the results discussed in the forward-looking statements. Accordingly, forward-looking statements should not be relied upon as representing Inspired’s views as of any subsequent date. You are advised to review carefully the “Risk Factors” section of Inspired’s annual report on Form 10-K for the fiscal year ended December 31, 2023, and subsequent quarterly reports on Form 10-Q, which are available, free of charge, on the U.S. Securities and Exchange Commission’s website at www.sec.gov. Inspired does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as required by law.
Contact:
For Investors
IR@inseinc.com
+1 (646) 277-1285
For Press and Sales
inspiredsales@inseinc.com
| INSPIRED ENTERTAINMENT, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME (in millions, except share and per share data) (Unaudited) | ||||||||||||||||
| Three Months Ended December 31, | Twelve Months Ended December 31, | |||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| Revenue: | ||||||||||||||||
| Service | $ | 64.7 | $ | 65.5 | $ | 258.6 | $ | 257.8 | ||||||||
| Product sales | 18.3 | 15.7 | 38.5 | 65.1 | ||||||||||||
| Total revenue | 83.0 | 81.2 | 297.1 | 322.9 | ||||||||||||
| Cost of sales: | ||||||||||||||||
| Cost of service (1) | (14.7 | ) | (18.2 | ) | (70.3 | ) | (75.1 | ) | ||||||||
| Cost of product sales (1) | (9.0 | ) | (11.7 | ) | (22.0 | ) | (53.5 | ) | ||||||||
| Selling, general and administrative expenses | (34.4 | ) | (33.2 | ) | (130.8 | ) | (115.8 | ) | ||||||||
| Depreciation and amortization | (10.9 | ) | (10.8 | ) | (42.3 | ) | (40.7 | ) | ||||||||
| Net operating income | 14.0 | 7.3 | 31.7 | 37.8 | ||||||||||||
| Other expense | ||||||||||||||||
| Interest expense, net | (8.8 | ) | (6.9 | ) | (29.4 | ) | (27.4 | ) | ||||||||
| Other finance income | 0.2 | 0.1 | 0.5 | 0.4 | ||||||||||||
| Total other expense, net | (8.6 | ) | (6.8 | ) | (28.9 | ) | (27.0 | ) | ||||||||
| Net income before income taxes | 5.4 | 0.5 | 2.7 | 10.8 | ||||||||||||
| Income tax (expense) benefit | 62.6 | (2.2 | ) | 63.0 | (5.0 | ) | ||||||||||
| Net (loss) income | 68.0 | (1.7 | ) | 65.8 | 5.8 | |||||||||||
| Other comprehensive (loss)/income: | ||||||||||||||||
| Foreign currency translation (loss) gain | 6.5 | (3.9 | ) | 1.3 | (5.9 | ) | ||||||||||
| Deferred tax on foreign currency translation gain (loss) | (1.0 | ) | — | (1.0 | ) | — | ||||||||||
| Reclassification of loss on hedging instrument to comprehensive income | — | — | — | 0.3 | ||||||||||||
| Actuarial gains on pension plan | 3.8 | (1.4 | ) | 4.7 | (0.7 | ) | ||||||||||
| Deferred tax on actuarial gains (losses) on pension plan | (1.1 | ) | — | (1.1 | ) | — | ||||||||||
| Other comprehensive (loss) income | 8.2 | (5.3 | ) | 3.9 | (6.3 | ) | ||||||||||
| Comprehensive (loss) income | $ | 76.2 | $ | (7.0 | ) | $ | 69.7 | $ | (0.5 | ) | ||||||
| Net income per common share – basic | $ | 2.39 | $ | (0.06 | ) | $ | 2.31 | $ | 0.21 | |||||||
| Net income per common share – diluted | $ | 2.33 | $ | (0.06 | ) | $ | 2.25 | $ | 0.20 | |||||||
| Weighted average number of shares outstanding during the period – basic | 28,509,904 | 28,027,434 | 28,521,027 | 28,073,408 | ||||||||||||
| Weighted average number of shares outstanding during the period – diluted | 29,197,235 | 28,027,434 | 29,199,375 | 29,214,583 | ||||||||||||
| Supplemental disclosure of stock-based compensation expense | ||||||||||||||||
| Stock-based compensation included in: | ||||||||||||||||
| Selling, general and administrative expenses | $ | (1.9 | ) | $ | (1.9 | ) | $ | (7.6 | ) | $ | (11.2 | ) | ||||
| (1) Excluding depreciation and amortization |
| INSPIRED ENTERTAINMENT, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (in millions, except share data) | ||||||||
| December 31, 2024 | December 31, 2023 | |||||||
| Assets | ||||||||
| Cash | $ | 29.3 | $ | 40.0 | ||||
| Accounts receivable, net | 65.4 | 43.8 | ||||||
| Inventory | 28.0 | 32.3 | ||||||
| Prepaid expenses and other current assets | 36.0 | 39.6 | ||||||
| Corporate tax and other current taxes receivable | 1.2 | — | ||||||
| Total current assets | 159.9 | 155.7 | ||||||
| Property and equipment, net | 56.4 | 60.7 | ||||||
| Software development costs, net | 22.0 | 19.0 | ||||||
| Other acquired intangible assets subject to amortization, net | 16.1 | 13.4 | ||||||
| Goodwill | 57.8 | 58.8 | ||||||
| Finance lease right of use asset | 18.7 | — | ||||||
| Operating lease right of use asset | 16.2 | 14.2 | ||||||
| Costs of obtaining and fulfilling customer contracts, net | 11.0 | 9.4 | ||||||
| Deferred tax | 67.4 | — | ||||||
| Other assets | 12.5 | 10.5 | ||||||
| Total assets | $ | 438.0 | $ | 341.7 | ||||
| Liabilities and Stockholders’ Deficit | ||||||||
| Current liabilities | ||||||||
| Accounts payable and accrued expenses | $ | 53.7 | $ | 60.8 | ||||
| Corporate tax and other current taxes payable | 12.3 | 6.3 | ||||||
| Deferred revenue, current | 5.8 | 5.6 | ||||||
| Operating lease liabilities | 5.1 | 4.7 | ||||||
| Current portion of long-term debt | 18.8 | 19.1 | ||||||
| Current portion of finance lease liabilities | 4.4 | 0.7 | ||||||
| Other current liabilities | 3.9 | 3.5 | ||||||
| Total current liabilities | 104.0 | 100.7 | ||||||
| Long-term debt | 292.2 | 295.6 | ||||||
| Finance lease liabilities, net of current portion | 18.6 | 1.6 | ||||||
| Deferred revenue, net of current portion | 12.8 | 7.1 | ||||||
| Operating lease liabilities | 11.7 | 9.8 | ||||||
| Other long-term liabilities | 2.4 | 4.1 | ||||||
| Total liabilities | 441.7 | 418.9 | ||||||
| Commitments and contingencies | ||||||||
| Stockholders’ deficit | ||||||||
| Preferred stock; | — | — | ||||||
| Common stock; | — | — | ||||||
| Additional paid in capital | 389.9 | 386.1 | ||||||
| Accumulated other comprehensive income | 48.4 | 44.5 | ||||||
| Accumulated deficit | (442.0 | ) | (507.8 | ) | ||||
| Total stockholders’ deficit | (3.7 | ) | (77.2 | ) | ||||
| Total liabilities and stockholders’ deficit | $ | 438.0 | $ | 341.7 | ||||
| INSPIRED ENTERTAINMENT, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in millions) (Unaudited) | ||||||||
| Year Ended December 31, 2024 | Year Ended December 31, 2023 | |||||||
| Cash flows from operating activities: | ||||||||
| Net income | $ | 65.8 | $ | 5.8 | ||||
| Adjustments to reconcile net (loss) income to net cash provided by operating activities: | ||||||||
| Depreciation and amortization | 42.3 | 40.7 | ||||||
| Amortization of right of use asset | 4.4 | 3.8 | ||||||
| Profit on disposal of trade and assets | — | — | ||||||
| Stock-based compensation expense | 7.6 | 11.2 | ||||||
| Reclassification of loss on hedging instrument to comprehensive income | — | 0.3 | ||||||
| Non-cash interest expense relating to senior debt | 1.1 | 2.0 | ||||||
| Changes in assets and liabilities: | ||||||||
| Accounts receivable | (22.7 | ) | 1.1 | |||||
| Inventory | 3.8 | (0.3 | ) | |||||
| Prepaid expenses and other assets | 5.9 | (8.0 | ) | |||||
| Corporate tax and other current taxes payable | (67.8 | ) | (6.4 | ) | ||||
| Accounts payable and accrued expenses | (10.5 | ) | 4.5 | |||||
| Deferred revenue and customer prepayment | 7.2 | 4.7 | ||||||
| Operating lease liabilities | (4.0 | ) | (3.9 | ) | ||||
| Pension contributions | (1.5 | ) | (1.4 | ) | ||||
| Other long-term liabilities | 0.9 | 0.6 | ||||||
| Net cash provided by operating activities | 32.5 | 54.7 | ||||||
| Cash flows from investing activities: | ||||||||
| Purchases of property and equipment | (16.9 | ) | (32.0 | ) | ||||
| Acquisition of subsidiary company assets | — | — | ||||||
| Acquisition of third-party company trade and assets | — | (0.6 | ) | |||||
| Disposal of trade and assets | — | — | ||||||
| Purchases of capital software and internally developed costs | (12.8 | ) | (14.7 | ) | ||||
| Contract cost expense | (11.2 | ) | (10.3 | ) | ||||
| Net cash used in investing activities | (40.9 | ) | (57.6 | ) | ||||
| Cash flows from financing activities: | ||||||||
| Proceeds from issuance of revolver | — | 18.9 | ||||||
| Repurchase of common stock | — | (1.6 | ) | |||||
| Repayments of finance leases | (1.6 | ) | (1.1 | ) | ||||
| Net cash (used in) provided by financing activities | (1.6 | ) | 16.2 | |||||
| Effect of exchange rate changes on cash | (0.7 | ) | 1.7 | |||||
| Net (decrease) increase in cash | (10.7 | ) | 15.0 | |||||
| Cash, beginning of period | 40.0 | 25.0 | ||||||
| Cash, end of period | $ | 29.3 | $ | 40.0 | ||||
| Supplemental cash flow disclosures | ||||||||
| Cash paid during the period for interest | $ | 26.6 | $ | 24.0 | ||||
| Cash paid during the period for income taxes | $ | 2.5 | $ | 5.0 | ||||
| Cash paid during the period for operating leases | $ | 9.2 | $ | 6.6 | ||||
| Supplemental disclosure of noncash investing and financing activities | ||||||||
| Additional paid in capital from net settlement of RSUs | $ | (3.0 | ) | $ | (2.9 | ) | ||
| Lease liabilities arising from obtaining finance lease right of use assets | $ | (16.1 | ) | $ | — | |||
| Lease liabilities arising from obtaining operating lease right of use assets | $ | (6.5 | ) | $ | (0.9 | ) | ||
| Adjustment to customer relationships intangible asset arising from adjustment to fair value of assets acquired | $ | — | $ | — | ||||
| Property and equipment acquired through finance lease | $ | 21.9 | $ | 1.2 | ||||
| Property and equipment transferred to inventory | $ | — | $ | — | ||||
| INSPIRED ENTERTAINMENT, INC. AND SUBSIDIARIES RECONCILIATION OF NON-GAAP FINANCIAL MEASURES ADJUSTED EBITDA RECONCILIATION BY SEGMENT (in millions) (Unaudited) | ||||||||||||||||||||||||
| Three Months Ended December 31, 2024 | ||||||||||||||||||||||||
| Gaming | Virtual Sports | Interactive | Leisure | Corporate | Total | |||||||||||||||||||
| Net income (loss) | $ | 12.9 | $ | 6.2 | $ | 6.7 | $ | 1.2 | $ | 41.0 | $ | 68.0 | ||||||||||||
| Items Relating to Legacy Activities: | ||||||||||||||||||||||||
| Pension charges | — | — | — | — | 0.3 | 0.3 | ||||||||||||||||||
| Items outside the normal course of business: | ||||||||||||||||||||||||
| Costs of group restructure | 2.2 | — | — | — | 0.1 | 2.3 | ||||||||||||||||||
| Costs of group restatement | — | — | — | — | 1.5 | 1.5 | ||||||||||||||||||
| Stock-based compensation expense | 0.4 | 0.2 | 0.1 | 0.2 | 1.0 | 1.9 | ||||||||||||||||||
| Depreciation and amortization | 4.0 | 0.8 | 1.4 | 3.8 | 0.9 | 10.9 | ||||||||||||||||||
| Interest expense, net | — | — | — | — | 8.8 | 8.8 | ||||||||||||||||||
| Other finance income | — | — | — | — | (0.2 | ) | (0.2 | ) | ||||||||||||||||
| Income tax | — | — | — | — | (62.6 | ) | (62.6 | ) | ||||||||||||||||
| Adjusted EBITDA | $ | 19.5 | $ | 7.2 | $ | 8.2 | $ | 5.2 | $ | (9.2 | ) | $ | 30.9 | |||||||||||
| Adjusted EBITDA | £ | 15.3 | £ | 5.7 | £ | 6.4 | £ | 4.1 | £ | (7.3 | ) | £ | 24.2 | |||||||||||
| Exchange rate - $ to £ | 1.27 | |||||||||||||||||||||||
| Three Months Ended December 31, 2023 | ||||||||||||||||||||||||
| Gaming | Virtual Sports | Interactive | Leisure | Corporate | Total | |||||||||||||||||||
| (In millions) | ||||||||||||||||||||||||
| Net income (loss) | $ | 8.3 | $ | 9.2 | $ | 2.2 | $ | 0.4 | $ | (21.9 | ) | $ | (1.7 | ) | ||||||||||
| Items Relating to Discontinued Activities | ||||||||||||||||||||||||
| Pension charges | — | — | — | — | 0.2 | 0.2 | ||||||||||||||||||
| Items Relating to Discontinued Activities | ||||||||||||||||||||||||
| Costs of group restatement | — | — | — | — | 5.0 | 5.0 | ||||||||||||||||||
| Stock-based compensation expense | 0.4 | (0.2 | ) | 0.2 | 0.3 | 1.2 | 1.9 | |||||||||||||||||
| Depreciation and amortization | 5.0 | 1.1 | 1.6 | 2.6 | 0.6 | 10.8 | ||||||||||||||||||
| Interest expense, net | — | — | — | — | 6.9 | 6.9 | ||||||||||||||||||
| Other finance income | — | — | — | — | (0.1 | ) | (0.1 | ) | ||||||||||||||||
| Income tax | — | — | — | — | 2.2 | 2.2 | ||||||||||||||||||
| Adjusted EBITDA | $ | 13.7 | $ | 10.1 | $ | 4.0 | $ | 3.3 | $ | (5.8 | ) | $ | 25.3 | |||||||||||
| Adjusted EBITDA | £ | 10.8 | £ | 8.1 | £ | 3.2 | £ | 3.0 | £ | (5.0 | ) | £ | 20.2 | |||||||||||
| Exchange rate - $ to £ | 1.25 | |||||||||||||||||||||||
| Twelve Months Ended December 31, 2024 | ||||||||||||||||||||||||
| Gaming | Virtual Sports | Interactive | Leisure | Corporate | Total | |||||||||||||||||||
| Net income | $ | 24.4 | $ | 30.1 | $ | 20.1 | $ | 9.8 | $ | (18.6 | ) | $ | 65.8 | |||||||||||
| Items Relating to Legacy Activities: | ||||||||||||||||||||||||
| Pension charges | — | — | — | — | 1.1 | 1. | 1 | |||||||||||||||||
| Items outside the normal course of business: | ||||||||||||||||||||||||
| Costs of group restructure | 3.7 | — | — | — | 1.4 | 5.1 | ||||||||||||||||||
| Costs of group restatement | — | — | — | — | 12.3 | 12.3 | ||||||||||||||||||
| Stock-based compensation expense | 0.9 | 0.5 | 0.4 | 0.6 | 5.2 | 7.6 | ||||||||||||||||||
| Depreciation and amortization | 16.3 | 5.5 | 5.1 | 12.9 | 2.5 | 42.3 | ||||||||||||||||||
| Interest expense, net | — | — | — | — | 29.4 | 29.4 | ||||||||||||||||||
| Other finance income | — | — | — | — | (0.5 | ) | (0.5 | ) | ||||||||||||||||
| Income tax | — | — | — | — | (63.0 | ) | (63.0 | ) | ||||||||||||||||
| Adjusted EBITDA | $ | 45.3 | $ | 36.1 | $ | 25.6 | $ | 23.3 | $ | (30.2 | ) | $ | 100.1 | |||||||||||
| Adjusted EBITDA | £ | 35.5 | £ | 28.0 | £ | 20.0 | £ | 18.2 | £ | (23.3 | ) | £ | 78.4 | |||||||||||
| Exchange rate - $ to £ | 1.28 | |||||||||||||||||||||||
| Twelve Months Ended December 31, 2023 | ||||||||||||||||||||||||
| Gaming | Virtual Sports | Interactive | Leisure | Corporate | Total | |||||||||||||||||||
| (In millions) | ||||||||||||||||||||||||
| Net income (loss) | $ | 22.1 | $ | 43.8 | $ | 10.7 | $ | 6.8 | $ | (77.6 | ) | $ | 5.8 | |||||||||||
| Items Relating to Discontinued Activities | ||||||||||||||||||||||||
| Pension charges | — | — | — | — | 0.9 | 0.9 | ||||||||||||||||||
| Items outside the normal course of business: | ||||||||||||||||||||||||
| Costs of group restructure | — | — | — | — | 3.6 | 3.6 | ||||||||||||||||||
| Costs of group restatement | — | — | — | — | 5.0 | 5.0 | ||||||||||||||||||
| Stock-based compensation expense | 1.5 | 0.4 | 0.6 | 1.0 | 7.7 | 11.2 | ||||||||||||||||||
| Depreciation and amortization | 19.2 | 3.4 | 4.1 | 11.6 | 2.4 | 40.7 | ||||||||||||||||||
| Interest expense, net | — | — | — | — | 27.4 | 27.4 | ||||||||||||||||||
| Other finance income | — | — | — | — | (0.4 | ) | (0.4 | ) | ||||||||||||||||
| Income tax | — | — | — | — | 5.0 | 5.0 | ||||||||||||||||||
| Adjusted EBITDA | $ | 42.8 | $ | 47.6 | $ | 15.4 | $ | 19.4 | $ | (26.0 | ) | $ | 99.2 | |||||||||||
| Adjusted EBITDA | £ | 34.5 | £ | 38.2 | £ | 12.3 | £ | 15.6 | £ | (21.1 | ) | £ | 79.6 | |||||||||||
| Exchange rate - $ to £ | 1.25 | |||||||||||||||||||||||
| ADJUSTED NET INCOME RECONCILIATION (in millions, except share data) (Unaudited) | |||||||||||||||||
| For the Three-Month Period ended | For the Twelve-Month Period ended | ||||||||||||||||
| Dec 31, | Dec 31, | Dec 31, | Dec 31, | ||||||||||||||
| (In millions) | 2024 | 2023 | 2024 | 2023 | |||||||||||||
| Net income (loss) | $ | 68.0 | $ | (1.7 | ) | $ | 65.8 | $ | 5.8 | ||||||||
| Items Relating to Legacy Activities: | |||||||||||||||||
| Pension charges | 0.3 | 0.2 | 1.1 | 0.9 | |||||||||||||
| Items outside the normal course of business: | |||||||||||||||||
| Cost of group restructure | 2.3 | — | 5.1 | 3.6 | |||||||||||||
| Cost of group restatement | 1.5 | 5.0 | 12.3 | 5.0 | |||||||||||||
| Stock-based Compensation related to group restructure | — | — | — | 0.7 | |||||||||||||
| Upfront recognition of Stock-based Compensation expense | — | — | — | 0.4 | |||||||||||||
| Effect of exchange rates on cash | 2.3 | (1.3 | ) | 0.7 | (1.7 | ) | |||||||||||
| Mark to market movement on currency deals | 0.0 | 0.5 | (0.5 | ) | 0.3 | ||||||||||||
| Deferred tax valuation | (69.5 | ) | — | (69.5 | ) | — | |||||||||||
| Other finance income | (0.2 | ) | (0.1 | ) | (0.5 | ) | (0.4 | ) | |||||||||
| Tax Impact | 0.0 | 0.6 | (0.3 | ) | 0.2 | ||||||||||||
| Adjusted Net Income | $ | 4.7 | $ | 3.3 | $ | 14.2 | $ | 14.8 | |||||||||
| Adjusted Net Income | £ | 3.6 | £ | 2.7 | £ | 10.4 | £ | 11.9 | |||||||||
| Exchange Rate - $ to £ | 1.28 | 1.24 | 1.28 | 1.25 | |||||||||||||
| Weighted average number of shares outstanding– diluted | 29,197,497 | 29,010,666 | 29,199,348 | 29,214,583 | |||||||||||||
| Adjusted Net Income per diluted share | $ | 0.16 | $ | 0.11 | $ | 0.48 | $ | 0.51 | |||||||||
| PRO-RATED SEGMENT ADJUSTED EBITDA CONTRIBUTION (in millions) (Unaudited) | ||||||||||||||||||||||||||||||||
| Three Months Ended December 31, 2024 | ||||||||||||||||||||||||||||||||
| Gaming | Virtual Sports | Interactive | Leisure | Corporate Functions | Total | |||||||||||||||||||||||||||
| Total Revenue | $ | 38.8 | $ | 10.1 | $ | 11.6 | $ | 22.5 | $ | — | $ | 83.0 | ||||||||||||||||||||
| Segment % of Total Revenue | 46.7 | % | 12.2 | % | 14.0 | % | 27.1 | % | 100.0 | % | ||||||||||||||||||||||
| Adjusted EBITDA | $ | 19.5 | $ | 7.2 | $ | 8.2 | $ | 5.2 | $ | (9.2 | ) | $ | 30.9 | |||||||||||||||||||
| Corporate allocation(1) | (4.3 | ) | (1.1 | ) | (1.3 | ) | (2.5 | ) | 9.2 | — | ||||||||||||||||||||||
| Segment-level Adjusted EBITDA including pro-rated corporate allocation | $ | 15.2 | $ | 6.1 | $ | 6.9 | $ | 2.7 | $ | — | $ | 30.9 | ||||||||||||||||||||
| Segment Contribution to Adjusted EBITDA | 49.2 | % | 19.8 | % | 22.3 | % | 8.7 | % | 100.0 | % | ||||||||||||||||||||||
(1) Corporate allocation pro-rated by segment % of total revenue contribution
| Three Months Ended December 31, 2023 | ||||||||||||||||||||||||||||||||
| Gaming | Virtual Sports | Interactive | Leisure | Corporate Functions | Total | |||||||||||||||||||||||||||
| Total Adjusted Revenue | $ | 39.3 | $ | 12.9 | $ | 8.0 | $ | 21.0 | $ | — | $ | 81.2 | ||||||||||||||||||||
| Segment % of Total Adjusted Revenue | 48.4 | % | 15.9 | % | 9.9 | % | 25.9 | % | 100.0 | % | ||||||||||||||||||||||
| Adjusted EBITDA | $ | 13.7 | $ | 10.1 | $ | 4.0 | $ | 3.3 | $ | (5.8 | ) | $ | 25.3 | |||||||||||||||||||
| Corporate allocation(1) | (2.8 | ) | (0.9 | ) | (0.6 | ) | (1.5 | ) | 5.8 | — | ||||||||||||||||||||||
| Segment-level Adjusted EBITDA including pro-rated corporate allocation | $ | 10.9 | $ | 9.2 | $ | 3.4 | $ | 1.8 | $ | — | $ | 25.3 | ||||||||||||||||||||
| Segment Contribution to Adjusted EBITDA | 43.1 | % | 36.4 | % | 13.4 | % | 7.1 | % | 100.0 | % | ||||||||||||||||||||||
(1) Corporate allocation pro-rated by segment % of total Adjusted Revenue contribution
| Twelve Months Ended December 31, 2024 | ||||||||||||||||||||||||||||||||
| Gaming | Virtual Sports | Interactive | Leisure | Corporate Functions | Total | |||||||||||||||||||||||||||
| Total Revenue | $ | 110.6 | $ | 45.4 | $ | 39.3 | $ | 101.8 | $ | — | $ | 297.1 | ||||||||||||||||||||
| Segment % of Total Revenue | 37.2 | % | 15.3 | % | 13.2 | % | 34.3 | % | 100.0 | % | ||||||||||||||||||||||
| Adjusted EBITDA | $ | 45.3 | $ | 36.1 | $ | 25.6 | $ | 23.3 | $ | (30.2 | ) | $ | 100.1 | |||||||||||||||||||
| Corporate allocation(1) | (11.3 | ) | (4.6 | ) | (4.0 | ) | (10.3 | ) | (30.2 | ) | — | |||||||||||||||||||||
| Segment-level Adjusted EBITDA including pro-rated corporate allocation | $ | 34.0 | $ | 31.4 | $ | 21.6 | $ | 13.0 | $ | — | $ | 100.1 | ||||||||||||||||||||
| Segment Contribution to Adjusted EBITDA | 34.0 | % | 31.4 | % | 21.6 | % | 13.0 | % | 100.0 | % | ||||||||||||||||||||||
(1) Corporate allocation pro-rated by segment % of total revenue contribution
| Twelve Months Ended December 31, 2023 | ||||||||||||||||||||||||||||||||
| Gaming | Virtual Sports | Interactive | Leisure | Corporate Functions | Total | |||||||||||||||||||||||||||
| Total Adjusted Revenue | $ | 111.9 | $ | 56.2 | $ | 27.9 | $ | 96.3 | $ | — | $ | 292.3 | ||||||||||||||||||||
| Segment % of Total Adjusted Revenue | 38.3 | % | 19.2 | % | 9.5 | % | 32.9 | % | 100.0 | % | ||||||||||||||||||||||
| Adjusted EBITDA | $ | 42.8 | $ | 47.6 | $ | 15.4 | $ | 19.4 | $ | (26.0 | ) | $ | 99.2 | |||||||||||||||||||
| Corporate allocation(1) | (10.0 | ) | (5.0 | ) | (2.5 | ) | (8.5 | ) | 26.0 | — | ||||||||||||||||||||||
| Segment-level Adjusted EBITDA including pro-rated corporate allocation | $ | 32.8 | $ | 42.6 | $ | 12.9 | $ | 10.9 | $ | — | $ | 99.2 | ||||||||||||||||||||
| Segment Contribution to Adjusted EBITDA | 33.1 | % | 42.9 | % | 13.0 | % | 11.0 | % | 100.0 | % | ||||||||||||||||||||||
(1) Corporate allocation pro-rated by segment % of total Adjusted Revenue contribution
FAQ
What was Inspired Entertainment's (INSE) Q4 2024 revenue and net income?
How much did INSE's Interactive segment grow in Q4 2024?
What major partnerships did INSE secure in Q4 2024?
What is the status of INSE's William Hill Vantage cabinet installation?
How did INSE's Gaming segment perform in Q4 2024?
