Sign In  |  Register  |  About Burlingame  |  Contact Us

Burlingame, CA
September 01, 2020 10:18am
7-Day Forecast | Traffic
  • Search Hotels in Burlingame

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

Web3MediaBreaks – DoubleDown Interactive Co. Ltd. (NASDAQ: DDI) Releases First-Quarter 2024 Financial Results

DoubleDown Interactive (NASDAQ: DDI), a leading developer and publisher of digital games on mobile and web-based platforms, is reporting its unaudited financial results for the first quarter ended March 31, 2024, including unaudited financial results of SuprNation AB, a European iGaming operator. Highlights of the report include an increase in revenue, reaching $88.1 million in Q1 2024, up from $77.6 million in Q1 202; operating expenses totaled $57.1 million in the first quarter of 2024, an increase from $52.2 million in Q1 2023; net income of $30.4 million, or earnings per fully diluted common share of $12.23; and Adjusted EBITDA of $31.9 million, up from $25.4 million in the same quarter 2023. In addition, the report noted that Average Revenue Per Daily Active User (“ARPDAU”) for the company’s social casino/free-to-play games was $1.26 in the first quarter 2024, an increase from $1.03 in first quarter 2023 and from $1.24 in fourth quarter 2023 while the average monthly revenue per payer for the social casino/free-to-play games increased to $281, up from $221 Q1 2023 and $279 Q4 2023. “The first quarter of 2024 marked another quarter of strong financial results, with consolidated revenue of $88.1 million and Adjusted EBITDA of $31.9 million, representing 14% and 26% year-over-year growth, respectively,” said DoubleDown Interactive CEO In Keuk Kim in the press release. “Revenue from our social casino games increased 3% year-over-year for the second consecutive quarter. Our DoubleDown Casino’s performance is benefitting from the recently introduced meta features that are further advancing our ability to improve monetization and generate strong engagement metrics, with ARPDAU rising on a quarterly sequential basis and by 22% year over year, and average revenue per payer also rising from 2023 fourth quarter levels and growing 27% year over year. The strong performance of our social casino business combined with our commitment to remain disciplined with user acquisition and R&D spend delivered another quarter of strong Adjusted EBITDA margin and free cash flow, with cash flow from operating activities of $34.9 million in the 2024 first quarter.”

To view the full press release, visit https://ibn.fm/LgLfs

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 multiformat interactive entertainment experiences for casual players, bringing authentic Vegas entertainment to players around the world through an online social casino experience. DDI’s flagship social casino 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. Following its acquisition of SuprNation in October 2023, the company also operates three real-money iGaming sites in western Europe. For more information about this company, please visit www.DoubleDownInteractive.com.

About Web3MediaWire

Web3MediaWire (“W3MW”) is a specialized communications platform with a focus on the next generation of internet technologies. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, W3MW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, W3MW brings its clients unparalleled recognition and brand awareness. W3MW is where breaking news, insightful content and actionable information converge.

To receive SMS alerts from Web3MediaWire, text “Web3” to 888-902-4192 (U.S. Mobile Phones Only)

For more information, please visit https://www.Web3MediaWire.com

Please see full terms of use and disclaimers on the Web3MediaWire website applicable to all content provided by W3MW, wherever published or re-published: https://www.Web3MediaWire.com/Disclaimer

Web3MediaWire
Los Angeles, CA
www.Web3MediaWire.com
310.299.1717 Office
Editor@Web3MediaWire.com

Web3MediaWire is powered by IBN

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 Burlingame.com & California Media Partners, LLC. All rights reserved.