Inspired Reports First Quarter 2021 Results
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th with social distancing; All UK restrictions expected to be lifted on June 21
st following COVID-19-related closures for the entirety of the first quarter 2021
Established Third Quarter 2021 Adjusted EBITDA Guidance of $28 million-$30 million
Liquidity position remains strong with cash of approximately $41.2 million and undrawn Revolver capacity of approximately $27.6 million
1
First Quarter Aggregate Online Revenue
2 increased 90%
First Quarter Net Loss of $16.7 million, including $3.1 million of VAT-related income
First Quarter Adjusted EBITDA
3 of $3.9 million, including $3.1 million of VAT-related income NEW YORK, May 10, 2021 Inspired Entertainment, Inc. ( Inspired ) (NASDAQ: INSE) today reported financial results for the three-month period ended March 31, 2021.
Inspired Entertainment (INSE) Tops Q1 EPS by 42c, Revenues Beat
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Land-based closures see losses widen at Inspired in first quarter
10th May 2021
| By Robert Fletcher
Inspired Entertainment reported a fall in revenue and an increase in net loss during the first quarter of its financial year, primarily due to the impact of land-based closures amid the novel coronavirus (Covid-19) pandemic.
Revenue for the three months to 31 March amounted to $22.8m (£16.2m/€18.7m), down 59.4% from $52.3m in the corresponding period last year.
Inspired put this down to restrictions on land-based gambling in a number of its markets throughout Q1, with many facilities having to remain closed or operate at limited capacity in line with local Covid-19 regulations.
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Inspired Entertainment revenue up 30.2% in 2020
11th March 2021
| By Conor Mulheir
Land-based and online gaming supplier Inspired Entertainment has released its financial results for the full year and fourth quarter of 2020, showing annual revenues of $199.8m (£143.2m/€167.3m), up 30.2% from 2019.
Selling, general and administrative expenses came in at $84.8m for the year, while depreciation and amortization cost the company a further $52.3m.
The cost of service and cost of product were $30.1m and $14.4m respectively, and acquisition and integration related transaction expenses accounted for a further $7.0m in costs. Stock-based compensation expenses amounted to $4.8m.
As a result, the supplier made a net operating income of $6.4m in 2020, compared to a net operating loss of $13.0m in 2019.
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