Inspired reports $285.4m in revenue for FY2022; 37% growth
The company said its results reflect a strong foundation going forward.
Inspired Entertainment has published its fourth quarter and fiscal year 2022 financial results. The company reported a boost in revenue for both Q4 and FY2022.
During the fourth quarter, revenue grew by 17% when compared to the previous year’s period, totaling $78.6m. Net income in Q4 was $3.1m, represented by $0.12 per basic share and $0.11 per diluted share.
Adjusted EBITDA during the fourth quarter reached $25.6m, an increase of 17% year-over-year.
Results for the full year reflected substantial company growth as well. Revenue reached $285.4m for the year ending December 31, 2022. The company posted a 37% boost in its revenue when compared to 2021’s financial results.
Net income totaled $22.3m, the equivalent of $0.84 per basic share and $0.77 per diluted share.
Inspired reported an adjusted EBITDA for FY2022 of $99.6m, reflecting a 56% boost year-over-year.
Inspired Entertainment Executive Chairman Lorne Weil commented: “Results reflect the continued execution of our strategy.
“Our fourth quarter results ended a record year for Inspired, in which we achieved double-digit, year-over-year top and bottom-line growth and reached a record annual revenue and a milestone $100m in adjusted EBITDA, even in the face of significant adverse currency movements.
“Our results are evidence of our ability to drive high double-digit growth in our high-margin, capital efficient digital businesses, while managing our land-based businesses for modest growth, decreased capital intensity and growing cash flow.”
The company achieved North American expansion by delivering its gaming machine placement for the Western Canada Lottery Corporation.
Weil concluded by saying: “The underlying momentum that has been building throughout 2022 and the strong demand that exists for our products across each of our business lines further supports our confidence in the long-term outlook for the company.”
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