InvestorNewsBreaks – DoubleDown Interactive Co. Ltd. (NASDAQ: DDI) Announces Q3 2023 Financial Results

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/Pmyca

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.

About InvestorWire

InvestorWire (“IW”) is a specialized communications platform with a focus on advanced wire-grade press release syndication for private and public companies and the investment community. 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, IW 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, IW brings its clients unparalleled recognition and brand awareness. IW is where breaking news, insightful content and actionable information converge.

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

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

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

InvestorWire 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.