Quarterly revenue falls for DoubleDown Interactive as company reports 2021 financial results
While Q4 revenue fell, yearly revenues marginally increased.
DoubleDown Interactive has released its financial results for the period ending December 31, 2021 and subsequently, the year as a whole. Q4 saw revenue fall for the social casino games publisher, while net income saw a boost.
Specifically, quarterly revenue came in at $86.3m, a year-on-year decrease of approximately $5m. Meanwhile, adjusted EBITDA fell by a similar amount, coming in at $25.8m compared to $29.9m in the prior year period. Ultimately this resulted in an adjusted EBITDA margin of 29.9%.
While many of Q4’s results saw numbers fall for DoubleDown, a number of metircs implied growth. Net income grew to $17.5m from $15.5m in Q4 of 2020. Simultaneously, revenue per daily active user and per payer increased to $0.96 and $205 respectively.
“Our 2021 results demonstrate the strength of our business model as we achieved another year of revenue growth, while delivering continued healthy adjusted EBITDA margins and positive operating cash flow,” said InKeuk Kim, CEO of DoubleDown.
“During 2021, we generated over $96m in net cash flows provided by operations and ended the year with a cash and cash equivalents balance of $242m, providing us with a strong financial position.”
Indeed, as reflected by the company’s CEO, 2021 brought some reasonable growth for the brand. Revenue saw a modest increase of $5m, reaching $363.2m overall. Concurrently, net income grew by over $20m, coming in at $78.2m. Monthly revenue per payer also saw a boost, increasing from $191 to $218.
Despite this modest growth, adjusted EBITDA remained static at $121m.
Tags/Keywords
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
