Pollard Banknote reports annual $482.3m revenue and Q4 results
Pollard Banknote released its financial results for the three months and year ended December 31, 2022.
Pollard Banknote, digital game studio and global lottery partner, reported a new fourth-quarter record, up 8.9% from the previous year. Q4 revenue reached $126.9m, while combined sales, including its share of NeoPollard Interactive LLC, reached $144.6m.
The company achieved an adjusted EBITDA result of $22.4m, increased from $18.7m in the fourth quarter of 2021. It also stated that its lottery operations continue to show growth in the fourth quarter, with income of $11.6m before tax.
Yearly results for 2022 showed revenue at $482.3m, up 5.1% from last year, with a net income of $19.3m. Adjusted EBITDA stands at $80.5m, 4.2% lower than the previous year. Pollard Banknote has repriced a number of instant ticket customer contracts during 2022, to recover higher input costs as part of contracts that have come up for rebid.
Co-CEO of Pollard Banknote, John Pollard, said, “Our 2022 financial results reflect very strong sales and profits in almost all of our product offerings, particularly charitable gaming, eGaming systems and iLottery.
“However, this was offset by major challenges in our instant ticket business. Nevertheless, we still achieved record sales and strong income from operations and adjusted EBITDA was only moderately reduced from 2021.”
Pollard Banknote is bullish on its prospects for 2023, as it says demand for its products and solutions remains high. The company is confident in its available resources and anticipates growth in its charitable gaming, eGaming system businesses and iLotteries.
Pollard continued, “Underlying all of these successes is our vision of continuing to help our lottery and charitable gaming partners grow and generate funds for good causes.”
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