AGS REPORTS SECOND QUARTER 2022 RESULTS
Second Quarter 2022 Highlights:
Domestic EGM Recurring Revenue Increased 1% Y/Y to a Record $46.2 Million
Premium EGM Installed Base Nearly Doubled Y/Y and Grew by 15% Sequentially
Domestic EGM RPD Increased 6% Sequentially; Topped $30 for the Fifth Consecutive Quarter
Generated $1.5 Million of Net Income; First Net Profit Since Q4 2019
Adjusted EBITDA Increased 6% Y/Y to $34.1 Million
Table Products Adjusted EBITDA Reached a Record $2 Million
On Pace to Achieve Year-End 2022 Net Leverage Target of less than 4.0x
LAS VEGAS, Aug. 8, 2022 /PRNewswire/ -- PlayAGS, Inc. (NYSE: AGS) ("AGS", "us", "we" or the "Company"), a designer and developer of equipment and services solutions for the global gaming industry, today reported operating results for the second quarter ended June 30, 2022.
In addressing the Company's second quarter financial performance, AGS President and Chief Executive Officer David Lopez said, "Our second quarter results reflect the growing returns we are realizing as a result of the significant investments made into our R&D, sales and product management teams over the past 24 months. These investments have accelerated the operating momentum we are seeing within the business, as reflected by the material year-over-year growth in our reported Q2 2022 net revenues, net income and Adjusted EBITDA."
Mr. Lopez continued, "Despite swirling uncertainty over the health of the consumer and the direction of the global economy, we have been encouraged by the incredible consistency demonstrated within our business through July. Ultimately, our recurring-revenue focused business model and strong liquidity position fortify the underlying resiliency within our business."
See complete financial report at https://investors.playags.com/news/press-releases/press-release-details/2022/AGS-REPORTS-SECOND-QUARTER-2022-RESULTS/default.aspx.
Domestic EGM Recurring Revenue Increased 1% Y/Y to a Record $46.2 Million
Premium EGM Installed Base Nearly Doubled Y/Y and Grew by 15% Sequentially
Domestic EGM RPD Increased 6% Sequentially; Topped $30 for the Fifth Consecutive Quarter
Generated $1.5 Million of Net Income; First Net Profit Since Q4 2019
Adjusted EBITDA Increased 6% Y/Y to $34.1 Million
Table Products Adjusted EBITDA Reached a Record $2 Million
On Pace to Achieve Year-End 2022 Net Leverage Target of less than 4.0x
LAS VEGAS, Aug. 8, 2022 /PRNewswire/ -- PlayAGS, Inc. (NYSE: AGS) ("AGS", "us", "we" or the "Company"), a designer and developer of equipment and services solutions for the global gaming industry, today reported operating results for the second quarter ended June 30, 2022.
In addressing the Company's second quarter financial performance, AGS President and Chief Executive Officer David Lopez said, "Our second quarter results reflect the growing returns we are realizing as a result of the significant investments made into our R&D, sales and product management teams over the past 24 months. These investments have accelerated the operating momentum we are seeing within the business, as reflected by the material year-over-year growth in our reported Q2 2022 net revenues, net income and Adjusted EBITDA."
Mr. Lopez continued, "Despite swirling uncertainty over the health of the consumer and the direction of the global economy, we have been encouraged by the incredible consistency demonstrated within our business through July. Ultimately, our recurring-revenue focused business model and strong liquidity position fortify the underlying resiliency within our business."
See complete financial report at https://investors.playags.com/news/press-releases/press-release-details/2022/AGS-REPORTS-SECOND-QUARTER-2022-RESULTS/default.aspx.
