DoubleDown Interactive(DDI)

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Consumer Sentiment Jumps in August: BAFM, DDI, RCL, TILE, CNK to Gain
ZACKS· 2024-08-21 19:46
A spate of positive economic data released over the past couple of weeks has alleviated fears of a recession in the near term. Consumer sentiment, which was on the decline following concerns that the economy was slowing down due to high inflation, has also rebounded sharply in August. The University of Michigan's preliminary consumer sentiment index rose to 67.8 in August from the final reading of 66.4 in July. This was also above the consensus estimate of a reading of 66.9. The survey's outlook for inflati ...
Surging Earnings Estimates Signal Upside for DoubleDown Interactive (DDI) Stock
ZACKS· 2024-08-19 17:21
DoubleDown Interactive Co., Ltd. Sponsored ADR (DDI) could be a solid addition to your portfolio given a notable revision in the company's earnings estimates. While the stock has been gaining lately, the trend might continue since its earnings outlook is still improving. The rising trend in estimate revisions, which is a result of growing analyst optimism on the earnings prospects of this company, should get reflected in its stock price. After all, empirical research shows a strong correlation between trend ...
Wall Street Analysts Predict a 58.8% Upside in DoubleDown Interactive (DDI): Here's What You Should Know
ZACKS· 2024-08-15 14:56
Shares of DoubleDown Interactive Co., Ltd. Sponsored ADR (DDI) have gained 1.8% over the past four weeks to close the last trading session at $12.16, but there could still be a solid upside left in the stock if shortterm price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $19.31 indicates a potential upside of 58.8%. The average comprises four short-term price targets ranging from a low of $16.25 to a high of $26, with a standard deviation of $4.52. Whi ...
DoubleDown (DDI) Q2 Earnings & Revenues Beat, ARPDAU Up Y/Y
ZACKS· 2024-08-13 17:56
Core Insights - DoubleDown Interactive Co., Ltd. (DDI) reported strong second-quarter 2024 results, with earnings and revenues exceeding the Zacks Consensus Estimate and showing year-over-year growth [1][4]. Financial Performance - Earnings per share (EPS) reached 67 cents, surpassing the Zacks Consensus Estimate of 48 cents by 39.6%, compared to 49 cents in the prior-year quarter [4]. - Revenues totaled $88.2 million, exceeding the consensus mark of $84 million by 5.2%, and grew 17.3% year-over-year [4]. - Adjusted EBITDA increased to $37 million from $27.6 million in the year-ago quarter, with an adjusted EBITDA margin expanding by 520 basis points to 41.9% [6]. Business Drivers - The growth was supported by increases in the social casino business and synergies from new meta-features in the DoubleDown Casino app, leading to improved player engagement and monetization [2][3]. - Average Revenue Per Daily Active User (ARPDAU) rose to $1.33 from $1.05 a year ago, while average monthly revenue per payer increased by 22.6% year-over-year to $288 [5]. Operational Efficiency - The company maintained a disciplined approach to user acquisition and R&D spending, contributing positively to the bottom line [3]. - Total operating expenses rose to $52 million from $47.7 million, primarily due to increased general and administrative expenses, as well as depreciation and amortization [6]. Cash Position - As of June 30, 2024, DoubleDown had cash and cash equivalents of $269.2 million, up from $206.9 million as of December 31, 2023 [7]. - Net cash from operating activities for the first half of 2024 was $69.3 million, compared to a net cash outflow of $37.6 million in the same period last year [7].
DoubleDown Interactive's Winning Streak And Beating The Odds In Q2 2024
Seeking Alpha· 2024-08-13 13:21
Core Viewpoint - DoubleDown Interactive (NASDAQ: DDI) reported strong Q2 2024 results, with GAAP EPS of $13.39 and revenue of $88.24 million, exceeding expectations by $4.8 million, showcasing resilience in a challenging market [2][4] Company Overview - DoubleDown Interactive is a leader in digital games, focusing on mobile and web sectors, and is known for its social casino games, including its flagship game, DoubleDown Casino [3] Q2 2024 Highlights - Revenue for Q2 2024 reached $88 million, with social casino games generating $80.3 million and the iGaming business, SuprNation, contributing $7.9 million [4][5] - The social casino business experienced a 7% year-over-year growth from Q2 2023, marking the third consecutive quarter of growth [5] - Average monthly revenue per payer (ARPDAU) increased by 27% year-over-year to $1.33, with payer conversion ratio rising to 6.7% from 6.0% [5] Financial Performance - Adjusted EBITDA rose by 34% to $37 million, with a margin of 41.9%, up from 36.7% in Q2 2023 [5] - Cash flow from operations improved significantly to $34.4 million, contrasting with a net cash outflow of $37.6 million last year [5] - The company ended the quarter with $339 million in cash and investments, maintaining a net cash position of approximately $303 million [5] Valuation Insights - DDI's current P/E ratio stands at 0.29x, significantly lower than a fair value of 15.00x, indicating potential undervaluation by the market [6] - The EPS yield is reported at 342.03%, suggesting a disconnect between market perception and the company's actual performance [6] Growth Strategy - The acquisition of SuprNation for $36.5 million is expected to enhance profitability through leveraging game development and marketing expertise [5] - The company aims to balance growth and cash flow while optimizing both top-line growth and cash flow generation in the coming quarters [5] Market Context - Despite the overall decline in the social casino segment, DoubleDown has managed to outperform competitors, indicating effective strategies in user acquisition and R&D [5][8] - The company is aware of industry challenges but remains focused on maintaining momentum in the social casino market [8]
DoubleDown Interactive(DDI) - 2024 Q2 - Earnings Call Transcript
2024-08-12 23:23
DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) Q2 2024 Earnings Conference Call August 12, 2024 5:00 PM ET Company Participants In Keuk Kim - Chief Executive Officer Joseph Sigrist - Chief Financial Officer Conference Call Participants David Bain - B. Riley Greg Gibas - Northland Securities Aaron Lee - Macquarie Operator Good afternoon, and welcome to DoubleDown Interactive Earnings Conference Call for the Second Quarter ending in June 30th, 2024. My name is Lisa, and I will be your operator for this afterno ...
DoubleDown Interactive(DDI) - 2024 Q2 - Quarterly Report
2024-08-12 20:13
Exhibit 99.2 Consolidated Financial Statements as of and for the three and six months ended June 30, 2024 and 2023 Condensed Consolidated Statements of Income and Comprehensive Income F-2 Condensed Consolidated Balance Sheets F-3 Condensed Consolidated Statements of Changes in Shareholders' Equity F-4 Condensed Consolidated Statements of Cash Flows F-6 Notes to Condensed Consolidated Financial Statements F-7 DoubleDown Interactive Co., Ltd. Condensed Consolidated Financial Statements (unaudited) June 30, 20 ...
DoubleDown Interactive to Report 2024 Second Quarter Results on August 12 and Host Conference Call and Webcast
GlobeNewswire News Room· 2024-07-23 20:15
SEATTLE, July 23, 2024 (GLOBE NEWSWIRE) -- DoubleDown Interactive Co., Ltd. (NASDAQ: DDI) ("DoubleDown" or the "Company"), a leading developer and publisher of digital games on mobile and webbased platforms, announced today that it will release its 2024 second quarter financial results after the market closes on Monday, August 12, 2024, and host a conference call and simultaneous webcast at 5:00 p.m. ET (2:00 p.m. PT) that day. Both the call and webcast are open to the general public. On the call, DoubleDow ...
DoubleDown Interactive to Report 2024 Second Quarter Results on August 12 and Host Conference Call and Webcast
Newsfilter· 2024-07-23 20:15
To access the call, please use the following link: DoubleDown Second Quarter 2024 Earnings Call. After registering, an email will be sent, including dial-in details and a unique conference call access code required to join the live call. To ensure you are connected prior to the beginning of the call, please register a minimum of 15 minutes before the start of the call. About DoubleDown Interactive Company Contact: Joe Sigrist ir@doubledown.com +1 (206) 773-2266 Chief Financial Officer https://www.doubledown ...
DoubleDown Interactive to Donate $10,000 to the ASPCA®
Newsfilter· 2024-07-22 15:00
Core Points - DoubleDown Interactive Co., Ltd. announced a $10,000 donation to the ASPCA to support animal welfare efforts across the United States [1] - The company has a long-standing relationship with the ASPCA and emphasizes its commitment to animal welfare, particularly during the "kitten season" [2] - DoubleDown Casino, the company's flagship product, engages millions of players globally and will host a play-to-enter giveaway event to promote the donation [4] Company Overview - DoubleDown Interactive is a leading developer and publisher of digital games, focusing on mobile and web-based platforms, and aims to provide authentic Vegas entertainment experiences [2] - The company operates three real-money iGaming sites in Western Europe following its acquisition of SuprNation in October 2023 [2] Event Details - The "Claws for the Cause" event will take place on July 27-28, 2024, allowing players to support the ASPCA and learn about its initiatives during the peak of kitten season [4] - The ASPCA expressed gratitude for DoubleDown's contributions and highlighted the importance of community support for animal shelters during this critical time [5]