DoubleDown Interactive (NASDAQ: DDI), a leading developer and publisher of digital games on mobile and web-based platforms, has announced its unaudited financial results for the third quarter ended Sept. 30, 2023. “DoubleDown generated solid third quarter results including a nearly 19% year-over-year increase in Adjusted EBITDA to $29.7 million and $28.7 million in operating cash flow. Payer engagement remains strong… Our business model and prudent management of operating expenses continues to deliver strong Adjusted EBITDA margins, which through the first nine months of 2023 is up 530 basis points compared to the same period in 2022,” said In Keuk Kim, CEO of DoubleDown. “Our solid cash generation continues to strengthen our balance sheet as inclusive of debt, we have approximately $200 million in net cash and short-term investments even after the cash payment of approximately $36.5 million to complete the acquisition of SuprNation at the end of October. We are excited to have completed the SuprNation acquisition as it marks our entrance into the European iGaming market, which, we believe, is a high-growth gaming category that is complementary to our core operations… With this acquisition completed, we are continuing to evaluate opportunities to deploy capital to further expand our business into high-growth gaming categories with attractive addressable markets to create new value for our shareholders.”
To view the full press release, visit https://ibn.fm/zgCPI
About DoubleDown Interactive Co. Ltd.
DoubleDown Interactive is a leading developer and publisher of digital games on mobile and web-based platforms. The company is the creator of multi-format interactive entertainment experiences for casual players, bringing authentic Vegas entertainment to players around the world through an online social casino experience. Its flagship title, DoubleDown Casino, has been a fan-favorite game on leading social and mobile platforms for years, entertaining millions of players worldwide with a lineup of classic and modern games.
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