DoubleDown Interactive (NASDAQ: DDI), a leading gaming company delivering unique player experiences across a variety of genres, is reporting its unaudited financial results for the fourth quarter and year ended Dec. 31, 2022. Highlights of the Q4 report show that revenue for the company decreased from $86.3 million in the fourth quarter of 2021 to $76.2 million in the fourth quarter of 2022 while operating costs for the same period increased to $321.4 million. The company also noted that Adjusted EBITDA decreased to $24.7 million for Q4 2023 and that overall, DDI saw a net loss of $194.4 million. Full-year numbers were similar, with revenues for the year reaching $321 million for the year ended Dec. 31, 2022, operating costs coming in at $634.9 million and adjusted EBITDA totaling $101.6 million for the year. “DoubleDown completed the fourth quarter with continuing solid cash flow generation and strong Adjusted EBITDA margins, continuing to demonstrate the attractive high-margin, capital light business model of our company,” said Doubledown Interactive CEO In Keuk Kim in the press release. “Our full-year 2022 revenue of $321 million represents growth of over 17% compared to full-year 2019, the most recent comparable period prior to the COVID pandemic, which we believe illustrates the stickiness of the customer base we have retained over the past several years. While global inflationary pressures and recession concerns may be moderately impacting discretionary spending broadly, we believe our compelling gaming options and player loyalty provide us with an advantageous position to remain a leading gaming company.”
To view the full press release, visit https://ibn.fm/EGbQL
About DoubleDown Interactive Co. Ltd.
DoubleDown Interactive is a leading developer and publisher of digital games on mobile and web-based platforms. The company is the creator of multiformat interactive entertainment experiences for casual players, bringing authentic Vegas entertainment to players around the world through an online social casino experience. DDI’s flagship title, DoubleDown Casino, has been a fan-favorite game on leading social and mobile platforms for years, entertaining millions of players worldwide with a lineup of classic and modern games. For more information about this company, please visit www.DoubleDownInteractive.com.
InvestorWire is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent.
As part of its service, InvestorWire provides coverage of noteworthy announcements. To further expand visibility of achievements being made throughout a multitude of sectors, InvestorWire’s syndication partners have extended the digital coverage to include individual broadcasts on financial websites and platforms visited by millions of investors daily.
For more information, please visit https://www.investorwire.com
InvestorWire is part of the InvestorBrandNetwork.