DoubleDown Interactive (NASDAQ: DDI), a leading developer and publisher of digital games on mobile and web-based platforms, is reporting its unaudited financial results for the second quarter ended June 30, 2023. Highlights of the report include revenues of $75.2 million, operating costs of $47.7 million, Adjusted EBITDA of $27.6 million, and net income of $24.4 million. The report also noted that the Average Revenue Per Daily Active User (“ARPDAU”) reached $1.05, up from $0.95 in the second quarter of 2022, and the average monthly revenue per payer was $235 for the quarter, up from $226 in the same quarter of 2022. “Our business performed well in the second quarter as Adjusted EBITDA increased more than 10% year over year and we generated approximately $38 million in operating cash flow, excluding the final litigation settlement payment,” said DoubleDown Interactive CEO In Keuk Kim in the press release.
“ARPDAU and average monthly revenue per player rose 11% and 4%, respectively, compared to the second quarter of 2022. DoubleDown’s attractive business model combined with our disciplined focus on managing operating expenses delivers solid Adjusted EBITDA margins as demonstrated by the 34.7% margin through the first six months of 2023, a 290-basis point improvement over the comparable period in 2022. Our ability to consistently generate positive cash flow, combined with our strong balance sheet with more than $150 million in uncommitted capital, provides us with the flexibility to invest in new gaming categories and high addressable market opportunities such as iGaming through our pending acquisition of SuprNation, which is expected to close later this year. We are encouraged by our performance in the first half of the year and expect to continue generating attractive cash flow over the balance of 2023 and beyond.”
To view the full press release, visit https://ibn.fm/R9Mlg
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.
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