Inspired Entertainment Posts Mixed Q4 Results

Inspired Entertainment Inc INSE reported fourth-quarter FY21 revenue of $67 million, beating the consensus of $61.67 million.
Revenue improved 71% Y/Y excluding VAT-related revenue reported last year and declined 7% Y/Y, including VAT.
Interactive revenue rose 36%, and virtual sports revenue increased 26%.
Net operating income for the quarter fell 66.7% to $6.4 million, with a margin of 9.6%.
Adjusted EBITDA for the quarter fell 37% Y/Y to $22 million with an adjusted EBITDA margin of 32.8% versus 48.6% last year.
Adjusted EBITDA margin increased by approximately 2,461 basis points Y/Y, excluding VAT-related revenue and income.
EPS loss of $(0.05) missed the analyst consensus of $0.05.
The company held $47.8 million of cash and approximately $27.0 million of undrawn revolver availability.
"We are pleased with our fourth quarter results, as we were able to achieve double-digit, year-over-year top and bottom-line growth across our business units, on an organic basis when excluding the impact of VAT-related revenue and income from 2020," said Lorne Weil, Executive Chairman.
Price Action: INSE shares are trading higher by 8.12% at $12.78 on the last check Friday.

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