Inspired has released its Q1 results and credits its digital growth for its climbing revenue.
The company ended the quarter with a revenue of US$66m, which was a 20 per cent increase in functional currency against Q1 2022. Net loss was $0.2m.
Adjusted EBITDA was $21.1m, which was up five per cent on a reported basis and up 15 per cent in functional currency from Q1 2022.
Lorne Weil, executive chairman of Inspired, said: "Our digital businesses continue to grow both in absolute levels and in relative contribution.
"Led by an acceleration in growth of the Interactive business, in functional currency digital revenue grew 40 per cent. Together, our digital businesses for the quarter contributed 67 per cent of our Adjusted EBITDA, up from 54 per cent last year.
“Within the Interactive segment more specifically, it was rewarding to see our recent investments in new products, people and platform improvements begin to pay off as the Interactive year-over-year growth rate accelerated to 38 per cent this quarter from 24 per cent during the fourth quarter of 2022.
“During the quarter, we also launched our new online Terminator slots game with our UK customers and expect to roll the game out to the rest of our European and North American customers over the coming months."
