Inspired Entertainment Earnings Call Transcripts
Fiscal Year 2026
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Q3 EBITDA margin rose to 46%, with adjusted like-for-like revenue up 9% YoY and EBITDA growing faster. Brazil and U.K. tax headwinds pushed growth targets out by a year, while digital expansion and aggressive share repurchases remain priorities.
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Q2 2026 saw revenue of $61M and EBITDA of $27M, with margins expanding to 45% and strong sequential growth despite U.K. tax headwinds. Guidance for 2026 EBITDA remains $112–$118M, with free cash flow conversion expected above 25% pro forma. Interactive and retail segments both showed robust performance.
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Q1 saw 15% revenue growth and 29% EBITDA growth, led by Interactive and margin expansion. U.K. tax headwinds were offset by strong GGR, while debt reduction and share buybacks improved leverage. New markets, content, and AI-driven game development support a positive outlook.
Fiscal Year 2025
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Record Q4 and FY25 results driven by interactive segment growth and margin expansion, with EBITDA up 11% year-over-year and digital now 51% of EBITDA. Guidance calls for continued double-digit growth, margin improvement, and deleveraging, supported by recurring revenue and new product launches.
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Third quarter results exceeded expectations, driven by strong interactive and gaming segment growth, the sale of the holiday parks business, and a shift to higher-margin operations. Management projects margin expansion, reduced leverage, and continued robust free cash flow, with significant upside from new iGaming states.
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EBITDA rose 15% year-over-year to $28.4M, led by interactive and gaming segments, with margins and growth momentum improving across key markets. Virtual sports stabilized, and the holiday park sale is set to boost liquidity and margins.
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Q1 2025 saw adjusted EBITDA rise nearly 20% year-over-year, driven by strong digital and interactive growth, especially in North America. The company refinanced its bonds, is set to sell its holiday park business for deleveraging, and expects EBITDA margins to exceed 40% this year.
Fiscal Year 2024
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Q4 adjusted EBITDA rose 22% year-over-year, with interactive and gaming segments driving growth. Virtual sports revenue stabilized, and digital businesses now exceed 50% of EBITDA. Strategic review of holiday parks continues, and a new credit facility is in progress.
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Q3 saw 13% EBITDA growth and margins nearing 40%, led by a 40% revenue surge in interactive and strong gains in gaming and leisure. Cash position improved, with management confident in 2025 consensus and new product launches and market expansions set to drive further growth.
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Q2 2024 saw EBITDA grow 56.5% sequentially, led by 40% revenue and 69% EBITDA growth in Interactive. Hybrid Dealer and new product launches are set to drive further gains in H2 and 2025, with strong cash generation expected to enable share repurchases.