Inspired Entertainment, Inc. (“Inspired”) (NASDAQ: INSE) today reported financial results for the quarter ended December 31, 2016. February 13, 2017 at 10:00 a.m. ET / 3:00 p.m. GMT, management will host a conference call to discuss the first quarter results and general business trends; access details are provided below.
- Revenues increased by 7.7% on a constant functional currency basis year over year, driven by growth in Server Based Gaming (“SBG”) deployments and SBG terminal performance1
- Adjusted EBITDA of $8.5 million for the period, an increase of 0.2% year over year on a constant currency basis1, 2
- Guidance ranges established for 2017 and 2018 – Prior Adjusted EBITDA guidance within range on constant currency basis; Initiates capital expenditure guidance
- First quarter highlights included successful technical field trials in Virtual Sports in Nevada
- Subsequent to the end of the quarter, SBG has launched trial operations in Greece
- New territories and revenue streams, including Greek SBG and Virtual Sports, are poised to lead to the sequential growth implied by guidance
“Strong performance in our Server Based Gaming estate and continued expansion in Virtual Sports recurring revenue drove growth in constant currency revenue and Adjusted EBITDA in the quarter. Despite the dramatic impact of foreign exchange rates following Brexit, our constant currency operating performance demonstrates the strength of the fundamentals in our business even before the launch of certain key new markets later in the year,” said Luke Alvarez, CEO and President of Inspired. Mr. Alvarez continued, “We look forward to continuing the expansion of our geographical footprint throughout 2017.”
“Our excitement about our growth prospects continues to build,” said Lorne Weil, Executive Chairman of Inspired. Mr. Weil continued, “We believe our solid performance this quarter positions us well as we pursue opportunities in new jurisdictions through existing and, potentially, new distribution channels.”
Read the full release here
