Inspired Reports Second Quarter 2021 Results
NEW YORK, Aug. 12, 2021 /PRNewswire/ --
- All constraints on betting shops, pubs and holiday parks in England lifted on July 19th following COVID-19-related restrictions associated with the staged reopening of operations during the second quarter 2021
- Company refinanced all of its debt during the second quarter, issuing £235.0 million ($324.7 million) of 7.875% senior secured notes and establishing a £20.0 million ($27.6 million) secured revolving facility
- Company facilitated Landgame Trust's secondary offering of 6.2 million shares of common stock of the Company, which was oversubscribed and included allocations to over 40 institutional investors
- Second Quarter Interactive Revenue increased 69.0% year-over-year, notwithstanding the staged reopening of retail customers during the quarter
- Second Quarter Revenue increased 166.4% year-over-year to $41.5 million
- Second Quarter Net Loss of $43.8 million
- Second Quarter Adjusted EBITDA1 increased 289.3% year-over-year to $8.0 million
- Management affirms third quarter 2021 Adjusted EBITDA Guidance of $28 million to $30 million
- Inspired Entertainment, Inc. ("Inspired" or the "Company") (NASDAQ: INSE) today reported financial results for the three-month period ended June 30, 2021.
The Company generated total revenue of $41.5 million, a net loss of $43.8 million and Adjusted EBITDA of $8.0 million in the three months ended June 30, 2021 on a reported basis2. The Company exhibited year-over-year growth on a reported basis across all segments in the second quarter 2021. The Interactive business continued to display strong performance, and sequential growth, in all major markets, with revenue of $5.8 million, an increase of 69.0% year-over-year, due to the addition of new customers and territories and the consistent launch of new high-quality content. This expansion, as well as the associated costs to establish new geographies and licensed content, led to Interactive segment operating income increasing 46.8% year-over-year to $2.6 million, and Adjusted EBITDA increasing 45.7% to $3.6 million from $2.4 million in the prior-year period. The Interactive business generated record revenues for the Company in July.
The complete financial report can be found here: https://investors.inseinc.com/2021-08-12-Inspired-Reports-Second-Quarter-2021-Results.
- All constraints on betting shops, pubs and holiday parks in England lifted on July 19th following COVID-19-related restrictions associated with the staged reopening of operations during the second quarter 2021
- Company refinanced all of its debt during the second quarter, issuing £235.0 million ($324.7 million) of 7.875% senior secured notes and establishing a £20.0 million ($27.6 million) secured revolving facility
- Company facilitated Landgame Trust's secondary offering of 6.2 million shares of common stock of the Company, which was oversubscribed and included allocations to over 40 institutional investors
- Second Quarter Interactive Revenue increased 69.0% year-over-year, notwithstanding the staged reopening of retail customers during the quarter
- Second Quarter Revenue increased 166.4% year-over-year to $41.5 million
- Second Quarter Net Loss of $43.8 million
- Second Quarter Adjusted EBITDA1 increased 289.3% year-over-year to $8.0 million
- Management affirms third quarter 2021 Adjusted EBITDA Guidance of $28 million to $30 million
- Inspired Entertainment, Inc. ("Inspired" or the "Company") (NASDAQ: INSE) today reported financial results for the three-month period ended June 30, 2021.
The Company generated total revenue of $41.5 million, a net loss of $43.8 million and Adjusted EBITDA of $8.0 million in the three months ended June 30, 2021 on a reported basis2. The Company exhibited year-over-year growth on a reported basis across all segments in the second quarter 2021. The Interactive business continued to display strong performance, and sequential growth, in all major markets, with revenue of $5.8 million, an increase of 69.0% year-over-year, due to the addition of new customers and territories and the consistent launch of new high-quality content. This expansion, as well as the associated costs to establish new geographies and licensed content, led to Interactive segment operating income increasing 46.8% year-over-year to $2.6 million, and Adjusted EBITDA increasing 45.7% to $3.6 million from $2.4 million in the prior-year period. The Interactive business generated record revenues for the Company in July.
The complete financial report can be found here: https://investors.inseinc.com/2021-08-12-Inspired-Reports-Second-Quarter-2021-Results.
