DoubleDown Interactive reports 10.5% increase in revenue for FY2024
While the company’s FY2024 revenue managed to increase, its Q4 2024 revenue decreased by 1.3% year-over-year for a total of $82m generated during the period.
Key Points
- DoubleDown’s adjusted EBITDA decreased by 5% from the prior year period during Q4 2024, reported to be $35.1m
- Despite profit share decreasing from 44.5% to 42.8% during Q4 2024, DoubleDown managed to increase its FY profit share from 39.5% to 41.6%
DoubleDown Interactive has reported a full-year (FY) 2024 revenue of $341.3m, representing an increase of 10.5% year-over-year, but the company also generated $82m of revenue during Q4 2024 for a decrease of 1.3% from the prior year period.
“DoubleDown’s fourth quarter results highlight the ability of our businesses to generate consistently strong profitability and free cash flow despite the slight revenue decline compared to the fourth quarter of 2023,” DoubleDown CEO Keuk Kim said.
“In the fourth quarter and throughout 2024 we delivered strong monetization metrics for our flagship social casino game, DoubleDown Casino, including full-year ARPDAU and average revenue per payer growth of 16% for both metrics when compared to the full year 2023 period. Our best-in-class ability to monetize our loyal players combined with our disciplined approach to user acquisition and R&D spend, drove cash flow from operations of $148m in 2024, further solidifying our balance sheet.”
2020
2021
2022
2023
2024
DoubleDown’s profit throughout FY2024 was reported to be $124.4m, an increase of just over 23% from the prior year period. The company’s adjusted EBITDA increased by 16% year-over-year during FY2024 for a total of $141.9m. Despite the increase in revenue and adjusted EBITDA, DoubleDown’s operating expenses actually increased by 7% from the prior year period, reported to be $204.3m throughout FY2024.
The company also managed to increase its profit margin during FY 2024 as compared to FY2023, rising from 32.7% to 36.4%.
Good to know: DoubleDown announced plans to donate $10,000 to the American Cancer Society in honor of Breast Cancer Awareness Month on September 30
Throughout Q4 2024, DoubleDown reported a total revenue of $82m, of which $9m was generated by SuprNation, a European iGaming operator that was acquired by DoubleDown during October 2023.
Without the revenue from SuprNation, Q4 2024 revenue would have decreased by 7% year-over-year for DoubleDown. In total, Q4 2024 decreased by 1.3% from the prior year period.
“Our SuprNation iGaming business gained momentum throughout 2024 culminating with fourth quarter revenue being the highest under our ownership. With a full year of experience operating this business, we are targeting additional top line growth in 2025 as we pursue market share growth in SuprNation’s core UK and Sweden markets, subject to favorable market conditions,” Kim said.
Operating expenses were $47.8m during Q4 2024 as compared to $47.4m for Q4 2023, while adjusted EBITDA decreased by 5.1% year-over-year for a total of $35.1m generated throughout the period. DoubleDown managed to increase its profit during Q4 2024, however, rising by nearly $10m when compared to Q4 2023 to be $35.7m.
Players trust our reporting due to our commitment to unbiased and professional evaluations of the iGaming sector. We track hundreds of platforms and industry updates daily to ensure our news feed and leaderboards reflect the most recent market shifts. With nearly two decades of experience within iGaming, our team provides a wealth of expert knowledge. This long-standing expertise enables us to deliver thorough, reliable news and guidance to our readers.
Latest News
