Total revenue was $205.4m for Q4 – up $180.4m year-on-year. Meanwhile, its adjusted EBITDA for the quarter increased to $93.4m.
The company’s FinTech brand saw revenue growth of 23%, which reflected the 102% increase in hardware revenue, totalling $92.2m.
For the full year in 2022, Everi saw revenue increase by 18% to $782.5m from last year’s total of $660.4m. Its net income was $120.5m, down from the $152.9m in 2021. However, its adjusted EBITDA increased by 8%, totalling $374.1m.
Randy Taylor, CEO of Everi, said: "Everi ended 2022 with another quarter of strong performance, including record fourth-quarter revenue and adjusted EBITDA, which extended our record of successful execution on our operating priorities.
“Our ongoing investments in new product development and acquisitions helped grow our product portfolio and addressable markets and are a key driver of our operating success that resulted in an 18% revenue increase, an 8% rise in adjusted EBITDA and a record $186.7 million in Free Cash Flow for the 2022 full year.
"Our team's great performance during the last several years reflects the balance and diverse strengths across our operations – Games, FinTech, Loyalty, Digital and Mobile.”
The news comes shortly after Everi announced it had begun building a new Las Vegas facility to consolidate production facilities.
Everi said the new facility will adhere to high levels of environmental and sustainable stewardship during construction and operation, and is expected to streamline production and simplify supply chain processes.