Digital casino products and player loyalty solutions provider Everi Holdings Inc has announced record revenue and EBITDA for the the months to 30 September 2022, representing the fourth consecutive quarter in which it has reached all-time highs for both.
Continuing to show strong growth across the board, Everi’s revenue climbed 21% year-on-year and 4% sequentially to US$204.3 million, reflecting a 9% increase in recurring revenues to US$143.6 million and a 64% increase in non-recurring revenues to US$60.7 million.
FinTech segment revenues rose 27% to US$91.8 million while games segment revenues grew 17% to US$112.5 million. The latter included a 57% increase in shipments of gaming machines to 1,841 units.
Adjusted EBITDA increased 7% year-on-year and 2% over Q2 to US$96.6 million, pushing net income to US$29.4 million.
Randy Taylor, CEO of Everi, said, “The third quarter year-over-year increases in revenues, net income and Adjusted EBITDA and our consistent improvement in our financial results throughout 2022 reflect the operating momentum across each of our businesses due to the continued broad-based demand for our products.
“Our strong financial results this year have been driven by steady growth in our recurring revenue streams together with a record level of revenues from gaming machine and FinTech hardware sales. Our focus on top-line growth and operational excellence is delivering consistent year-over-year earnings growth and strong Free Cash Flow generation.
“Our capital allocation priorities remain directed toward extending the success we have achieved through investments in high-return internal product development to grow our core businesses and prudent acquisitions that extend our product and service capabilities to expand our addressable markets, as well as continuing to return capital to our shareholders.”
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