Everi Holdings has published its financial results for the third quarter ending September 30, 2022. The company anticipates “steady operating performance” during its fourth quarter based on its Q3 report.
Overall company revenue during Q3 reached the highest in Everi history, climbing by 21% year-over-year to reach $204.3m. Net income grew to $29.4m, representing $0.30 per diluted share in the third quarter.
Adjusted EBITDA during Q3 yielded $96.6m, an increase of 7% when compared to the corresponding period in 2021. According to the report, the company’s adjusted EBITDA was the highest of all time.
Free cash flow was $43.9m during the quarter, falling more than $13m year-over-year.
Everi also noted in its report that the company repurchased 900,000 shares of stock during the third quarter for a total of $16m.
Everi CEO Randy Taylor spoke about the company’s fiscal strength and continued growth throughout the period.
He said: "Our strong financial results this year have been driven by steady growth in our recurring revenue streams together with a record level of revenues from gaming machine and FinTech hardware sales.
"Our capital allocation priorities remain directed toward extending the success we have achieved through investments in high-return internal product development to grow our core businesses, and prudent acquisitions that extend our product and service capabilities to expand our addressable markets, as well as continuing to return capital to our shareholders."
Everi provides land-based and digital casino gaming content and products, as well as financial technology and player loyalty solutions. The company develops gaming machines, gaming systems and content for both land-based and iGaming operators.
