Everi Holdings sees 21% revenue rise for Q3

Everi Holdings has posted its Q3 report for 2022, which showed a 21% rise in revenue – totalling $204.3m.

Everi Q3 2022
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The amount means Everi has hit an all-time quarterly high, after it posted $168.3m in revenue for the same period last year. Meanwhile, its adjusted EBITDA also saw a record quarter, recording $96.6m and beating Q3 2021’s $90.6m by 7%.

Overall, Everi will be pleased with the quarter, as it seems to have bucked the trend that has seen many show drops in revenue. Meanwhile, the markets have reacted well to the news, as Everi is currently trading 3% higher than it was in the previous 24 hours.

Reflecting on the report, Randy Taylor, Everi CEO, said: "The third quarter year-over-year increases in revenues, net income and adjusted EBITDA and our consistent improvement in our financial results throughout 2022 reflect the operating momentum across each of our businesses due to the continued broad-based demand for our products.

“Our strong financial results this year have been driven by steady growth in our recurring revenue streams together with a record level of revenues from gaming machine and FinTech hardware sales.

"Our focus on top-line growth and operational excellence is delivering consistent year-over-year earnings growth and strong Free Cash Flow generation.

In its Q2 2022 report, Everi had similarly positive results, as it saw an increase of 14% annually, to $197.2m – while its EBITDA was a then-record of $94.4m, compared to $92.5m in 2021.

At the time, Taylor said: "Our strong operating momentum continued in the second quarter, as we delivered all-time quarterly record revenues, income before income tax, adjusted EBITDA and free cash flow."

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