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Financial Performance - Revenue for Q3 2024 reached $82,981,000, a 13.7% increase from $72,983,000 in Q3 2023[2] - Operating income for Q3 2024 was $35,239,000, up 18.5% from $29,680,000 in Q3 2023[2] - Net income for Q3 2024 was $25,143,000, compared to $26,930,000 in Q3 2023, reflecting a decrease of 6.6%[2] - The company reported a comprehensive income of $29,410,000 for Q3 2024, compared to $25,061,000 in Q3 2023, an increase of 17.5%[2] - Net income for the nine months ended September 30, 2024, was $88,769,000, an increase of 18.4% compared to $74,959,000 for the same period in 2023[10] - Total revenue for the three months ended September 30, 2024, was $82.98 million, a 13.5% increase from $72.98 million in the same period of 2023[31] Assets and Liabilities - Total assets increased to $879,849,000 as of September 30, 2024, from $803,344,000 at the end of 2023, marking a growth of 9.5%[4] - Cash and cash equivalents rose to $292,651,000, up 41.4% from $206,911,000 at the end of 2023[4] - Total current liabilities decreased significantly to $19,570,000 from $68,505,000 at the end of 2023, a reduction of 71.5%[4] - Retained earnings increased to $415,800,000 as of September 30, 2024, compared to $327,273,000 at the end of 2023, an increase of 27%[4] - Total equity attributable to shareholders increased to $815,608,000 as of September 30, 2024, from $697,860,000 as of September 30, 2023[8] - The company reported total debt of $37.89 million as of September 30, 2024, down from $38.78 million as of December 31, 2023[38] Cash Flow - Cash flows from operating activities for the nine months ended September 30, 2024, were $101,128,000, a significant recovery from a cash outflow of $8,881,000 in the same period of 2023[10] - The company experienced a net increase in cash and cash equivalents of $85,740,000 for the nine months ended September 30, 2024[10] - Cash equivalents totaled $292.7 million as of September 30, 2024, an increase from $206.9 million as of December 31, 2023[42] Revenue Sources - Revenue concentration from Apple accounted for 50.3% of total revenues for the nine months ended September 30, 2024, down from 55.7% in the same period of 2023[23] - Mobile platform revenue was $55.38 million for the three months ended September 30, 2024, compared to $61.13 million in 2023, while web platform revenue increased to $27.61 million from $11.85 million[31] - Revenue from the U.S. was $65.15 million for the three months ended September 30, 2024, slightly up from $63.72 million in 2023, while international revenue showed significant growth[32] Acquisitions and Investments - The company completed the acquisition of SuprNation AB for €34.3 million (approximately $36.5 million), expanding its presence in the real-money iGaming market in Western Europe[13] - The company recorded a total cash purchase price of $30.6 million for the acquisition of SuprNation, a European i-Gaming operator, completed on October 31, 2023[62] - SuprNation contributed revenue of $24.0 million and a pre-tax loss of $2.7 million for the nine months ended September 30, 2024[64] Expenses and Obligations - The company reported a depreciation and amortization expense of $2,480,000 for the nine months ended September 30, 2024, compared to $158,000 in 2023[10] - The company incurred total service fees of $3.5 million for game maintenance and user analysis services provided by DoubleU Games for the nine months ended September 30, 2024[56] - Costs incurred under the agreement with IGT for the three months ended September 30, 2024, totaled $1.0 million, compared to $1.5 million for the same period in 2023[57] - The total benefit obligation of the defined benefit pension plan was $2.1 million as of September 30, 2024[61] Legal and Compliance - The company recorded an accrual of $95.25 million related to a class-action lawsuit settlement, which was paid in cash in the second quarter of 2023[54] Taxation - The company recognized an effective tax rate of 22.8% for the nine months ended September 30, 2024, consistent with the same period in 2023[46] Currency and Foreign Operations - Loss on foreign currency remeasurement for the nine months ended September 30, 2024, was $1,520,000, contrasting with a loss of $1,484,000 in the same period of 2023[10] - The company recorded a foreign currency translation gain of $4.165 million for the three months ended September 30, 2024[10] Employee Incentives - The company has a performance-based incentive plan for key employees of SuprNation, which may result in additional payments of up to $6.5 million contingent on performance targets[63] Agreements and Licenses - The company licensed approximately 49 game titles under the new Game License Agreement with DoubleU Games effective January 1, 2023[55] - The company has a new Game Development Agreement with DoubleU Games effective September 1, 2024, with an initial term of three years[65]

DoubleDown Interactive Co., Ltd.'s (DDI) third-quarter 2024 earnings and revenues missed the Zacks Consensus Estimate. Following the results, the company’s shares declined nearly 1% in the after-hours trading session yesterday.During the third quarter, DoubleDown benefited from steady growth in its core social casino and SuprNation iGaming businesses. The company’s social casino segment saw a consistent revenue increase for the fourth quarter in a row, indicating DoubleDown's expertise in engaging and monet ...

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) Q3 2024 Earnings Conference Call November 11, 2024 5:00 PM ET Company Participants Richard Land - Investor Relations In Keuk Kim - Chief Executive Officer Joseph Sigrist - Chief Financial Officer Conference Call Participants David Bain - B. Riley Aaron Lee - Macquarie Greg Gibas - Northland Securities Operator Good afternoon and welcome to DoubleDown Interactive's Earnings Conference Call for the Third Quarter ended September 30, 2024. My name is Daniel and I wi ...

SEOUL, South Korea, Nov. 11, 2024 (GLOBE NEWSWIRE) -- DoubleDown Interactive Co., Ltd. (NASDAQ: DDI) (“DoubleDown” or the “Company”), a leading developer and publisher of digital games on mobile and web-based platforms, today announced unaudited financial results for the third quarter ended September 30, 2024. Third Quarter 2024 vs. Third Quarter 2023 Summary:          Revenue increased to $83.0 million in the third quarter of 2024 from $73.0 million in the third quarter of 2023. SuprNation, a European iGam ...

DoubleDown Interactive Co., Ltd. (DDI) is likely to benefit from the SuprNation acquisition, social casino business and strategic investments. Also, the focus on DoubleDown Casino enhancements bodes well. However, elevated expenses and competitive pressures pose concerns. Factors Driving DDI Stock DoubleDown's acquisition of SuprNation, an iGaming platform, has opened new growth avenues. In the second quarter of 2024, SuprNation contributed $7.9 million in revenues, exceeding initial expectations. The compa ...

SEOUL, South Korea, Oct. 10, 2024 (GLOBE NEWSWIRE) -- DoubleDown Interactive Co., Ltd. (NASDAQ: DDI) ("DoubleDown" or the "Company"), a leading developer and publisher of digital games on mobile and web-based platforms, announced today that it will release its 2024 third quarter financial results after the market closes on Monday, November 11, 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 ca ...

Shares of DoubleDown Interactive Co Ltd (DDI, Financial) fell 4.84% in mid-day trading on Oct 2. The stock reached an intraday low of $14.81, before recovering slightly to $14.94, down from its previous close of $15.70. This places DDI 10.81% below its 52-week high of $16.75 and 114.96% above its 52-week low of $6.95. Trading volume was 14,755 shares, 36.4% of the average daily volume of 40,484. Wall Street Analysts Forecast Based on the one-year price targets offered by 4 analysts, the average target price ...

DoubleDown Interactive Co., Ltd. Sponsored ADR (DDI) shares rallied 11.9% in the last trading session to close at $16.50. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 1.3% gain over the past four weeks. The addition of new meta features to its flagship app, including DoubleDown Casino, appears to be driving positive investor sentiment. This company is expected to post quarterly earnings of $0.55 per share ...

SEATTLE, Sept. 30, 2024 (GLOBE NEWSWIRE) -- DoubleDown Interactive (NASDAQ: DDI) ("DoubleDown" or the "Company"), a leading developer and publisher of digital games on mobile and webbased platforms, announced today a planned donation of $10,000 to the American Cancer Society (ACS) in honor of Breast Cancer Awareness Month. DoubleDown Casino, which is played daily by millions of fans worldwide on both desktop and mobile devices, will invite players to engage with and show support for the charitable donation ...