Inspired delivers double digit growth
News on 10 Dec 2018
News on 10 Dec 2018
Inspired Entertainment, Inc. (Inspired) has reported double digit growth in revenue and EBITDA for its fiscal year ended September 30, 2018, narrowing net losses significantly year over year to $20.6 million from $49.1 million in 2017.
Full year revenue was up 15.4 percent to $141.4 million, while Adjusted EBITDA increased 32.9 percent year over year to reach $54.1 million.
Revenue growth was achieved across both business segments primarily driven by the continued rollout of terminals in Greece, new customer revenue in Interactive and Virtual Sports, and an increase in revenue from new channels offered to existing customers.
Adjusted EBITDA margin increased to 39.5 percent from 34.7 percent in the prior year, primarily attributed to a more profitable revenue mix, effective business processes, and operating leverage in the cost structure.
Net operating losses were $7.3 million, an improvement over 2017 which amounted to $11.9 million. Net loss was $20.6 million, significantly stronger than 2017’s $49.1 million.
Lorne Weil, Executive Chairman of Inspired:
“While we continue to focus on maintaining that growth, we are also intentionally targeting growth across our businesses in North America. I am optimistic that we can execute on this strategy much as we have done in Greece, where, in less than two years, we have grown the Virtual Sports business exponentially, recently adding another channel of content, and have become the largest supplier of terminals in the marketplace.”
