Overview
DoubleDown Q3 revenue rises 15.5% yr/yr, beating analyst expectations
Adjusted EBITDA for Q3 beats estimates, reflecting strategic growth initiatives
SuprNation iGaming revenue increases 108% yr/yr, driven by new player acquisition
Outlook
Company did not provide specific guidance for future quarters or full year
Result Drivers
SUPRNATION GROWTH - Revenue from SuprNation increased 108% due to focus on new player acquisition
WHOW GAMES ACQUISITION - Initial contributions from WHOW Games increased European revenue
OPERATING EXPENSES - Increased due to WHOW Games integration and SuprNation revenue growth
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Beat | $95.80 mln | $94.30 mln (5 Analysts) |
Q3 Adjusted EBITDA | Beat | $37.50 mln | $35.60 mln (5 Analysts) |
Q3 Adjusted EBITDA Margin | 39.10% | ||
Q3 Pretax Profit | $41.10 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the casinos & gaming peer group is "buy"
Wall Street's median 12-month price target for DoubleDown Interactive Co Ltd is $19.00, about 54.2% above its November 7 closing price of $8.71
The stock recently traded at 4 times the next 12-month earnings vs. a P/E of 4 three months ago
Press Release: ID:nGNX8NgPSK
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)