Doubledown Interactive Co., Ltd. ( (DDI) ) has released its Q4 earnings. Here is a breakdown of the information Doubledown Interactive Co., Ltd. presented to its investors.
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DoubleDown Interactive Co., Ltd. is a prominent developer and publisher of digital games, specializing in delivering interactive entertainment experiences on mobile and web-based platforms, with a focus on social casino games that replicate the Vegas experience online.
DoubleDown Interactive recently released its financial results for the fourth quarter and full year of 2024, showcasing steady profitability despite a minor dip in quarterly revenue compared to the previous year. The company’s transition to International Financial Reporting Standards (IFRS) from GAAP for 2024 is noteworthy, aligning its financial reporting with international standards.
In the fourth quarter of 2024, DoubleDown Interactive reported revenue of $82 million, slightly down from $83.1 million in the same quarter of 2023, primarily due to fluctuations in their core business excluding contributions from newly acquired SuprNation. However, the company’s profit grew significantly to $35.6 million, driven by favorable foreign exchange gains, with earnings per share increasing to $14.37. Adjusted EBITDA for the quarter was $35.1 million, reflecting a strong margin of 42.8%.
For the entire year, revenue rose by 10% to $341.3 million, with notable contributions from SuprNation. The company saw an increase in key metrics such as Average Revenue Per Daily Active User (ARPDAU), which rose to $1.30, and average monthly revenue per payer, reaching $283. DoubleDown’s profit for the year was $124 million, with an Adjusted EBITDA of $141.9 million, underscoring its capacity for strong cash flow generation.
Looking ahead, DoubleDown Interactive is poised for further growth as it leverages its strong cash position of $380 million and aims to expand its market share, particularly in the U.K. and Sweden through SuprNation. The company remains focused on capital efficiency and exploring growth opportunities in new gaming categories, potentially enhancing shareholder value.
