NEW YORK, May 10, 2024 (GLOBE NEWSWIRE) -- Inspired Entertainment, Inc. ("Inspired" or the "Company") (NASDAQ:INSE), a leading B2B provider of gaming content, systems and solutions, today announced the debut of its NBA Re-Play Virtual Sports product exclusively in Greece with long-time partner OPAP. OPAP is the leading gaming company in Greece and one of the most renowned internationally, offering a wide range of games, including numerical lotteries, sports betting, passive lotteries, scratch cards, etc. T ...

None. The Company maintains a governance structure to address cybersecurity risk, which involves a dedicated Information Security Team (the "Information Security Team"), an Information Security Governance Board (the "Information Security Governance Board"), the Audit Committee of the Board and the Board. We have implemented a risk-based approach to identify and assess the cybersecurity threats that could affect our business and information systems. Our cybersecurity program is aligned with industry standard ...

NEW YORK, April 09, 2024 (GLOBE NEWSWIRE) -- Inspired Entertainment, Inc. ("Inspired") (NASDAQ: INSE), a leading B2B provider of gaming content, technology, hardware and services, announced that it will report financial results for the fourth quarter and fiscal year ended December 31, 2023 on Monday, April 15, 2024, before the market opens. Inspired management will host a conference call and simultaneous webcast at 9:00 a.m. ET / 2:00 p.m. in the UK the same day to discuss the Company's results and general ...

NEW YORK, April 09, 2024 (GLOBE NEWSWIRE) -- Inspired Entertainment, Inc. ("Inspired") (NASDAQ: INSE), a leading B2B provider of gaming content, technology, hardware and services, announced that it will report financial results for the fourth quarter and fiscal year ended December 31, 2023 on Monday, April 15, 2024, before the market opens. Inspired management will host a conference call and simultaneous webcast at 9:00 a.m. ET / 2:00 p.m. in the UK the same day to discuss the Company's results and general ...

[Q3 2023 Financial Performance Overview](index=1&type=section&id=Q3%202023%20Financial%20Performance%20Overview) [Management Commentary and Strategic Highlights](index=1&type=section&id=Management%20Commentary%20and%20Strategic%20Highlights) Management completed its financial restatement, shifted focus to the higher-margin digital business, and repurchased company stock - The financial restatement process is complete, with a minimal net impact on Adjusted EBITDA: a **$0.6 million decrease for full-year 2022** and effectively zero for the first half of 2023[3](index=3&type=chunk) - The company's strategic focus is shifting towards its higher-margin digital businesses, which generated **58% of year-to-date Adjusted EBITDA contribution**[3](index=3&type=chunk) - The Interactive segment demonstrated strong growth, with revenue and Adjusted EBITDA increasing by **28% and 55% year-over-year** on a constant currency basis, respectively[3](index=3&type=chunk) - The land-based business is showing a reacceleration, with new 'Vantage' cabinet deployments leading to approximately **11% YoY revenue per machine increases** in betting shops and 20% in pubs[5](index=5&type=chunk) - The company repurchased **121,847 shares for $1.5 million** during the third quarter, bringing the total to approximately 1.2 million shares since the program's inception[4](index=4&type=chunk)[5](index=5&type=chunk) [Summary of Third Quarter 2023 Segment Financial Results](index=3&type=section&id=Summary%20of%20Third%20Quarter%202023%20Segment%20Financial%20Results) Q3 total revenue grew 31% driven by hardware sales, but net income declined 63% and the Adjusted EBITDA margin contracted to 27% Q3 2023 Key Financial Metrics (vs. Q3 2022) | Metric | Q3 2023 | Q3 2022 | % Change | Functional Currency % Change | | :--- | :--- | :--- | :--- | :--- | | **Total Revenue** | $97.5M | $74.2M | +31% | +22% | | **Net Income** | $3.4M | $9.2M | -63% | -65% | | **Net Income per Diluted Share** | $0.12 | $0.32 | -63% | -67% | | **Total Company Adjusted EBITDA** | $26.7M | $27.3M | -2% | -8% | Q3 2023 Adjusted EBITDA by Segment (vs. Q3 2022) | Segment | Q3 2023 Adj. EBITDA | Q3 2022 Adj. EBITDA | % Change | | :--- | :--- | :--- | :--- | | Gaming | $8.3M | $9.0M | -7% | | Virtual Sports | $11.7M | $12.2M | -5% | | Interactive | $4.7M | $2.8M | +66% | | Leisure | $8.7M | $9.6M | -9% | [Recent Business Developments](index=2&type=section&id=Recent%20Business%20Developments) The company launched new products like 'Hybrid Dealer' and expanded strategic partnerships with the NBA, FanDuel, and Kambi Group - Launched 'Hybrid Dealer', a new iGaming product blending physical and digital elements, in partnership with BetMGM[6](index=6&type=chunk) - Strengthened its Virtual Sports offering by signing an agreement with the NBA and launching an NFL-themed product with bet365[6](index=6&type=chunk) - Expanded its North American footprint through a partnership with FanDuel across multiple states and integrated its Virtual Sports products into the Kambi sportsbook platform[6](index=6&type=chunk) [Financial Statements](index=7&type=section&id=Financial%20Statements) [Condensed Consolidated Statements of Operations](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Q3 revenue grew to $97.5 million, but higher costs led to a decline in net operating income and a fall in net income to $3.4 million Statement of Operations Summary (in millions) | Line Item | Three Months Ended Sep 30, 2023 | Three Months Ended Sep 30, 2022 | Nine Months Ended Sep 30, 2023 | Nine Months Ended Sep 30, 2022 | | :--- | :--- | :--- | :--- | :--- | | **Total Revenue** | $97.5 | $74.2 | $241.8 | $205.0 | | **Net Operating Income** | $12.2 | $15.3 | $30.6 | $34.4 | | **Net Income** | $3.4 | $9.2 | $7.6 | $17.1 | | **Net Income per Diluted Share** | $0.12 | $0.32 | $0.26 | $0.58 | [Condensed Consolidated Balance Sheets](index=8&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets increased to $304.7 million as of September 30, 2023, while the total stockholders' deficit improved to ($72.5) million Balance Sheet Summary (in millions) | Account | Sep 30, 2023 | Dec 31, 2022 | | :--- | :--- | :--- | | Total Current Assets | $133.3 | $126.9 | | **Total Assets** | **$304.7** | **$287.2** | | Total Current Liabilities | $77.8 | $74.9 | | Long-term Debt | $282.7 | $277.6 | | **Total Liabilities** | **$377.2** | **$372.8** | | **Total Stockholders' Deficit** | **($72.5)** | **($85.6)** | [Condensed Consolidated Statements of Cash Flows](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For the first nine months of 2023, net cash from operations was $35.3 million, with the period ending with a cash balance of $26.4 million Cash Flow Summary - Nine Months Ended Sep 30 (in millions) | Cash Flow Activity | 2023 | 2022 | | :--- | :--- | :--- | | Net Cash Provided by Operating Activities | $35.3 | $31.8 | | Net Cash Used in Investing Activities | ($31.7) | ($25.5) | | Net Cash Used in Financing Activities | ($2.6) | ($10.5) | | **Net Increase (Decrease) in Cash** | **$1.4** | **($10.4)** | | **Cash, End of Period** | **$26.4** | **$37.4** | [Non-GAAP Financial Measures and Reconciliations](index=4&type=section&id=Non-GAAP%20Financial%20Measures%20and%20Reconciliations) [Explanation of Non-GAAP Measures](index=4&type=section&id=Explanation%20of%20Non-GAAP%20Measures) The company uses non-GAAP measures like Adjusted EBITDA and Adjusted Revenue to provide additional insight into its operating performance - **Adjusted EBITDA** is defined as net income excluding depreciation, amortization, interest, taxes, stock-based compensation, and other adjustments for items considered outside the normal course of business[12](index=12&type=chunk) - **Adjusted Revenue** (Revenue Excluding Low Margin Gaming Hardware Sales) is defined as revenue excluding hardware sales sold at a low margin to secure longer-term recurring revenue[14](index=14&type=chunk) - **Adjusted Net Income** excludes non-recurring items such as restructuring costs, M&A expenses, and gains or losses not in the ordinary course of business, adjusted for tax impacts[15](index=15&type=chunk) [Reconciliation of Adjusted EBITDA by Segment](index=10&type=section&id=Reconciliation%20of%20Adjusted%20EBITDA%20by%20Segment) Q3 2023 Adjusted EBITDA was $26.7 million, reconciled from a net income of $3.4 million with Virtual Sports as the largest contributor Q3 2023 Reconciliation of Net Income to Adjusted EBITDA (in millions) | Description | Amount | | :--- | :--- | | Net Income | $3.4 | | Depreciation and amortization | $10.3 | | Interest expense, net | $6.9 | | Stock-based compensation expense | $3.3 | | Income tax | $2.0 | | Other adjustments | $0.8 | | **Adjusted EBITDA** | **$26.7** | [Reconciliation of Adjusted Net Income](index=12&type=section&id=Reconciliation%20of%20Adjusted%20Net%20Income) Q3 2023 Adjusted Net Income was $4.9 million, or $0.17 per diluted share, a significant decrease from the prior-year period Adjusted Net Income Reconciliation (in millions, except per share data) | Metric | Q3 2023 | Q3 2022 | | :--- | :--- | :--- | | Net Income | $3.4 | $9.2 | | Adjustments | $1.5 | $2.7 | | **Adjusted Net Income** | **$4.9** | **$11.9** | | **Adjusted Net Income per Diluted Share** | **$0.17** | **$0.41** | [Reconciliation of Adjusted Revenue](index=12&type=section&id=Reconciliation%20of%20Adjusted%20Revenue) Adjusted Revenue for Q3 2023 was $74.8 million, nearly flat year-over-year after excluding $22.7 million in low-margin hardware sales Adjusted Revenue Reconciliation (in millions) | Line Item | Q3 2023 | Q3 2022 | | :--- | :--- | :--- | | Net Revenues | $97.5 | $74.2 | | Less: Low Margin Gaming Hardware Sales | ($22.7) | — | | **Adjusted Revenue** | **$74.8** | **$74.2** | [Pro-rated Segment Adjusted EBITDA Contribution](index=13&type=section&id=Pro-rated%20Segment%20Adjusted%20EBITDA%20Contribution) After allocating corporate costs, the Virtual Sports segment was the largest contributor to Q3 Adjusted EBITDA at 39.3% Q3 2023 Segment Contribution to Adjusted EBITDA (in millions) | Segment | Adjusted EBITDA | Corporate Allocation | Segment-level Adj. EBITDA | % Contribution | | :--- | :--- | :--- | :--- | :--- | | Gaming | $8.3 | ($2.0) | $6.3 | 23.6% | | Virtual Sports | $11.7 | ($1.2) | $10.5 | 39.3% | | Interactive | $4.7 | ($0.6) | $4.1 | 15.1% | | Leisure | $8.7 | ($2.9) | $5.8 | 22.0% | | **Total** | **$33.4** | **($6.7)** | **$26.7** | **100.0%** | [Other Disclosures](index=4&type=section&id=Other%20Disclosures) [Revision of Prior Period Results](index=4&type=section&id=Revision%20of%20Prior%20Period%20Results) The company restated prior financial statements for FY2022 and Q1/Q2 2023 to correct accounting errors in software cost capitalization - The company completed a restatement of prior financial statements (Form 10-K/A for FY2022, Forms 10-Q/A for Q1 and Q2 2023) due to accounting errors[9](index=9&type=chunk) - The errors were primarily related to the company's accounting policies for capitalizing software development costs under U.S. GAAP[9](index=9&type=chunk) [Forward-Looking Statements](index=6&type=section&id=Forward-Looking%20Statements) The release contains forward-looking statements subject to risks and uncertainties, and the company does not commit to updating them - The report includes forward-looking statements regarding business plans, new customers, and financial performance, which are not guarantees of future results[23](index=23&type=chunk) - These statements are subject to known and unknown risks and uncertainties, and the company undertakes no obligation to update them[24](index=24&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period _______________ Commission File Number: 001-36689 INSPIRED ENTERTAINMENT, INC. (Exact name of registrant as specified in its charter) | Delaware | 47-1025534 | | --- | -- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period _______________ Commission File Number: 001-36689 INSPIRED ENTERTAINMENT, INC. (Exact name of registrant as specified in its charter) Delaware 47-1025534 (State or other juris ...

Inspired Entertainment, Inc. (NASDAQ:INSE) Q1 2023 Earnings Conference Call May 10, 2023 9:00 AM ET Company Participants Lorne Weil - Executive Chairman Brooks Pierce - President and Chief Executive Officer Stewart Baker - Executive Vice President and Chief Financial Officer Eric Carrera - Vice President, Corporate Development Conference Call Participants Barry Jonas - Truist Securities David Bain - B. Riley Chad Beynon - Macquarie Jordan Bender - JMP Edward Engel - ROTH Ryan Sigdahl - Craig-Hallum Operator ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period _______________ Commission File Number: 001-36689 INSPIRED ENTERTAINMENT, INC. (Exact name of registrant as specified in its charter) | Delaware | 47-1025534 | | --- | --- | ...

▪ 12 Investment Highlights ▪ A leading presence in the UK, Greece and Italy with significant momentum in North America ▪ High-growth, capital efficient Virtual Sports and Interactive segments contributed 53% of Adjusted EBITDA in Q4 2022 versus 46% in Q4 2021(2) Note: Balance sheet figures are as of December 31, 2022. Equity market capitalization as of market close on March 10, 2023. (1) Principal balance. (2) Consists of finance lease liabilities of $2.2 million and pension liability of $2.1 million. (3) A ...