Inspired Entertainment has published its Q4 and full year results for 2021. The company reported financial recovery and growth during the year now that retail revenues that had shut down during the pandemic have reopened.
Company revenue during the fourth quarter rose by 71% from the prior year period and reached $67m.
The company reported a net loss of $1.2m versus a net income of $3.1m during last year’s period.
Adjusted EBITDA during the fourth quarter climbed to $22m, reflecting 586% growth since this time last year. The Adjusted EBITDA margin reached 32.8%.
Revenue during 2021 fiscal year rose by 4.6%, climbing to $208.9m. The company showed a net loss of $36.7m and a net operating loss of $0.6m.
Adjusted EBITDA dropped by 11.2% to $64m.
"We are pleased with our fourth quarter results, as we were able to achieve double-digit, year-over-year top and bottom-line growth across our business units, on an organic basis when excluding the impact of VAT-related revenue and income from 2020," said Lorne Weil, Executive Chairman of Inspired.
Weil also commented about the company’s ongoing recovery following Covid-19 lockdowns.
"Our results this past year are evidence of our ability to drive sustainable, long-term growth and profitability,” he said. “The consistent momentum we saw building throughout 2021 and the strong demand that continues to exist for our products across each of our business lines, including the industry outlooks for land-based gaming coming out of Covid-19 and sustainable online growth trends, further support our confidence in the long-term outlook for the company."
