DoubleDown Interactive, a developer and publisher of digital games on mobile and web-based platforms, has announced its unaudited financial results for the fourth quarter and year ended December 31, 2023.
The company’s consolidated financial results for the three and 12-month periods include 61 days of contributions from European igaming operator SuprNation, which was acquired by the company on October 31.
Q4 revenue was $83.1m compared to $76.2m in the fourth quarter of 2022. Revenue contributed by SuprNation totalled $4.3m for the 61 days the company owned and operated the business.
Revenue exclusive of the contributions from SuprNation increased three per cent year over year to $78.8m.
Revenue, inclusive of the 61-day contributions from SuprNation, decreased from $321m for the year ended December 31, 2022, to $308.9m for the year ended December 31, 2023. Revenue exclusive of the contributions from SuprNation declined to $304.6m.
“Our fourth quarter results, which include a three per cent year-over-year increase in core social casino revenue to $78.8m and a 46 per cent increase in adjusted EBITDA to $36.2m, highlight our best-in-class ability to monetise our loyal players combined with our disciplined approach to user acquisition and R&D spend, which drives consistent profitability and strong free cash flow,” said CEO In Keuk Kim.
“We continue to deliver strong engagement metrics for our flagship social casino game DoubleDown Casino, as ARPDAU and average monthly revenue per payer rose 26 per cent and 23 per cent, respectively, compared to the 2022 fourth quarter.
"As a result, cash flows from operating activities were approximately $30m in the fourth quarter."
