DoubleDown Interactive has announced its 2024 financial results, showing solid growth despite a slight revenue decline in Q4. The company transitioned to IFRS accounting standards, impacting its reporting compared to previous years. SuprNation‘s acquisition contributed significantly to revenue, particularly in Q4.
Q4 2024 financial results
- Q4 revenue was $82.0M, slightly down from $83.1M in Q4 2023. SuprNation contributed $9.0M; excluding this, revenue declined 7% to $73.0M.
- Operating expenses increased slightly to $47.8M from $47.4M in Q4 2023, primarily due to higher administrative costs from SuprNation operations.
- Q4 profit (excluding non-controlling interest) rose to $35.6M from $25.9M in Q4 2023. The increase was driven by foreign exchange gains and currency translation effects.
- Adjusted EBITDA for Q4 2024 was $35.1M, down from $37.0M in Q4 2023, with an Adjusted EBITDA margin of 42.8% compared to 44.5% in the previous year.
2024 full year financial results
- Full-year revenue reached $341.3M, a 10% increase from $308.9M in 2023. Excluding SuprNation, revenue grew 1% to $308.3M, driven by higher engagement.
- Full-year profit (excluding non-controlling interest) was $124.0M, up from $101.0M in 2023, with earnings per ADS at $2.50 compared to $2.04 in 2023.
- Net cash flows from operations increased significantly to $148.5M, compared to $24.1M in 2023, supported by strong monetization and the absence of litigation settlement payments.
- SuprNation’s iGaming business continued to grow, with Q4 2024 revenue the highest since its acquisition. The company aims for further market expansion in the U.K. and Sweden in 2025.
- CEO In Keuk Kim stated, “Our ability to monetize our loyal players and maintain disciplined spending drove a strong cash flow position, giving us flexibility for future growth.”
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