SciPlay sees revenue rise 17% in Q3 results
The company achieved several quarterly records, in areas including player conversion rates.
SciPlay announced a 17% year-on-year revenue hike to $170.8m in its Q3 results, along with a number of quarterly records for the company. The average revenue per daily active user (ARPDAU) is $0.80, up 16% annually, while player conversion rates rose to 10%.
The company claimed to “outpace the social casino market,” maintaining an elevated average monthly revenue per unit (AMRPPU) of $95.45 – its 10th consecutive quarter above $90.
The company has returned $28m of capital to date through share repurchases, which represents 47% of total authorization for the company. Adjusted EBITDA posted $42.8m for this quarter which was a 4% decrease from the prior year period.
Net income suffered, declining 9% from $37m in Q3 of 2021 to $33.7m this quarter. Net cash from operating activities also decreased to $21m – a 64% decrease year-on-year.
There was bad news for SciPlay’s balance sheet too, with cash and cash equivalents falling by 18% year-on-year to $299.2m. Meanwhile, its available liquidity experienced a 12% annual fall from $514.4m in the third quarter of 2021 to $449.2m this quarter.
SciPlay CEO Josh Wilson commented: “SciPlay achieved record revenue and strong profitability in the third quarter. We outperformed the overall social casino market for the second consecutive quarter. SciPlay’s durable growth is the direct result of our long-term strategy, strategic investments and strong execution of our operating plan.”
“We’ve continued to enhance monetization and achieved multiple quarterly records fueled by our evergreen social casino franchises, demonstrating their longevity and ability to drive sustainable growth.
“We continue to scale ARPDAU and take a competitive leap in the current business environment. Given our strong performance this quarter, we are maintaining our full-year 2022 revenue growth and AEBITDA margin targets. We see an unparalleled combination of opportunities to grow and scale our business over the long term and drive increased shareholder value.”
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