In Q4, overall company revenue fell by nearly $10m when compared to the previous year’s period. The company ended the fourth quarter with $76.2 in revenue.
Adjusted EBITDA fell to $27.4m during Q4, dropping by nearly $1m year-over-year.
DoubleDown reported similar trends for the fiscal year. Revenue at the end of 2022 reached $321m, dropping by nearly $40m when compared to last year’s figures. The company’s adjusted EBITDA fell to $101.6m year-over-year. The adjusted EBITDA margin for 2022 was 31.6%.
DoubleDown CEO Keuk Kim said: “DoubleDown completed the fourth quarter with continuing solid cash flow generation and strong adjusted EBITDA margins, continuing to demonstrate the attractive high-margin, capital light business model of our company.”
Kim went on to discuss the company’s progress throughout the year and its loyal customer base.
He said in closing: “Our full-year 2022 revenue of $321m represents growth of over 17% compared to full-year 2019, the most recent comparable period prior to the COVID pandemic, which we believe illustrates the stickiness of the customer base we have retained over the past several years.
“While global inflationary pressures and recession concerns may be moderately impacting discretionary spending broadly, we believe our compelling gaming options and player loyalty provide us with an advantageous position to remain a leading gaming company.”
DoubleDown Interactive delivers its users a variety of gaming genres in multiple formats and publishes its games on both web-based and mobile platforms. Its DoubleDown Casino flagship title is well-known among its multimillion-player fanbase.
The company’s social casino portfolio includes a variety of modern and classic games.