Everi Holdings has published its financial results for the fourth quarter and fiscal year, which ended December 31, 2022.
Overall company revenue during Q4 reached $205.4m, climbing by 14% year-over-year. Net income decreased to $27m, representing $0.28 per diluted share in the fourth quarter.
Adjusted EBITDA during Q4 yielded $93.4m, an increase of more than $5m when compared to the corresponding period in 2021.
Free cash flow was $41.7m during the quarter, more than doubling the results of 2021’s corresponding period.
Results for the year reflected similar trends, with company revenue yielding an 18% boost year-over-year. The company ended the fiscal year with an overall revenue of $660.4m.
Net income reached $120.5m for 2022, the equivalent of $1.24 per diluted share. Net income when compared to results from 2021 fell by more than $30m.
Adjusted EBITDA for 2022 reached $374.1m, reflected 8% boost when compared to last year. Free cash flow for the year climbed to an all-time high, totaling $186.7m.
Company CEO Randy Taylor said about the latest results: "Everi ended 2022 with another quarter of strong performance, including record fourth-quarter revenue and adjusted EBITDA, which extended our record of successful execution on our operating priorities.
“Our ongoing investments in new product development and acquisitions helped grow our product portfolio and addressable markets and are a key driver of our operating success.”
Everi Holdings 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.
