Inspired Entertainment has published its Q2 2022 financial report. The company reported a second-quarter revenue of $71.3m, up 72% when compared to the prior corresponding period.
Leisure revenue reflected a company high during the quarter, rising by 130% year-over-year and reaching $26m. Virtual Sports revenue climbed by 71% when compared to last year’s second quarter, reaching $14m. Gaming revenue numbers also reflected an increase from Q2 2021’s report and rose by 57% to $25.5m.
The company posted a net income for the period of $7.5m, when compared to a net loss of $43.8m in 2021’s second quarter. Adjusted EBITDA rose by 227% year-over-year to $26.1m. The adjusted EBITDA margin nearly doubled during the second quarter from last year’s corresponding period and was 37%.
Inspired Entertainment Executive Chairman Lorne Weil said the company is pleased with its Q2 results.
Weil commented: “This quarter's underlying performance is a testament to the resiliency of our diversified business model as well as what we perceive to be the continued strength in consumer spending across our segments – notwithstanding ongoing macro trends.”
Weil elaborated about the breakdown of the report and about the company’s overall growth. According to the report, customer activity in pubs and betting shops has risen to figures that surpass pre-pandemic reports.
Weil continued by saying: “Virtual Sports was, once again, the standout in the quarter, producing its fourth record-setting revenue and adjusted EBITDA quarter in a row, with online Virtual Sports doubling year-over-year versus strong comparatives, speaking to our strong product development and increased market penetration.
“Interactive revenue increased year-over-year on a functional currency basis as we increased our footprint through numerous integrations. In our land-based business, we’re delighted to see that customer gross win per unit in betting shops and holiday parks was ahead of pre-Covid levels as consumers continue to frequent betting shops and pubs and are staying local for holidays.”
