Q4 2024 Inspired Entertainment Inc Earnings Call Transcript
Key Points
- Adjusted EBITDA for the fourth quarter was $30.9 million, up 22% from last year.
- The interactive business showed significant growth with fourth quarter revenue and EBITDA growth of 45% and 105%, respectively.
- The company received a letter from the SEC informing them that their inquiry is now closed with no further action.
- The digital business is expected to approach 60% of EBITDA by year-end, driven by growth in interactive and virtual sports.
- The gaming segment had EBITDA growth of 42% year over year in the fourth quarter, partly due to gaming hardware sales.
- The press release for the earnings call was delayed, causing potential inconvenience.
- Virtual sports did not hit the expected inflection point during the fourth quarter as previously predicted.
- There was a significant year-to-year increase in accounts receivable, resulting in lower than anticipated year-end cash.
- The cash balance is expected to be lower than previously guided due to delays in receivables and accelerated supplier payments.
- The virtual sports segment faced challenges due to a revenue reduction from its largest customer.
Good morning, everyone, and welcome to the Inspired Entertainment fourth quarter 2024 conference call.
(Operator Instructions) Please note, today's event is being recorded.
Please refer to the company's safe harbour statement that appears in the fourth quarter 2024 earnings press release, which is also available in the investor section of the company's website at www.inceinc.com.
This safe harbour statement also applies to today's conference call, as the company's management will be making certain statements that will be considered forward-looking under securities laws and rules of the statements of the SEC.
These statements are based on management's current expectations or beliefs and are subject to risks, uncertainties, and changes in circumstances.
In addition, please note that the company will discuss both GAAP and non-GAAP financial measures. Our conciliation is included in the earnings press release. With that completed.
I will now turn the conference call over to Lorne Weil, the
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