Inspired sees $78m in revenue during Q3 2024
The company also appointed James Richardson as its new CFO, effective January 1, 2025.
Key Points
- While revenue increased by 4% year-over-year, net income managed to remain at the $3.4m figure reported during the prior year period
- Inspired reported that the company’s Interactive segment was the primary driver behind the increase in revenue throughout the quarter
Inspired Entertainment has reported its financial results for the third quarter of 2024, with a 4% increase in revenue for a total of $78m throughout the period. Net income stayed consistent with the $3.4m figure that was reported during Q3 2023, while adjusted EBITDA increased by 13% year-over-year to be $30.1m for the third quarter of 2024.
“Our third quarter results demonstrate the resilience of our diversified business model and our ability to successfully execute across our business segments,” Inspired Executive Chairman Lorne Weil said.
“Interactive continues to be a standout performer with revenue growing 40% year-over-year and EBITDA increasing 47%, driven by strong growth across key markets including the UK, North America and mainland Europe.
While the Interactive segment of Inspired saw the biggest increase in revenue at 40% year-over-year to $10.2m, Gaming still led the way as the largest contributor to the company’s total revenue, accounting for $23.3m during Q3 2024.
Good to know: Inspired launched a trio of slot games in New Jersey on August 13 to offer players a new experience with high winning potential
Throughout the third quarter of 2024, Inspired announced a number of new agreements that will help the company expand heading into 2025. Inspired announced a licensing agreement with the NHL, granting the company rights to develop interactive, fixed odds virtual sports games with NHL branding.
The company also reached collaboration deals with FanDuel and Loto-Quebec in regards to its Hybrid Dealer suite of content and games.
Inspired also appointed James Richardson as the company’s new CFO on November 6, with the hire set to go into effect on January 1, 2025.
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