“Mixed” Q2 results for AGS as net loss rises

By Tim Poole

AGS has reported a 2% year-on-year growth in Q2 revenue, to $74.5m, although its net loss widened significantly for the same quarter.

The supplier posted its highest-ever quarterly recurring revenue of $53.6m, also a growth of 2%, while its 1,181 EGM Unit sales represented a rise of 12%.

However, net loss increased 42% to $7.6m, while Adjusted EBITDA (according to non-GAAP accounting) fell 2% to $35.7m.

AGS CEO David Lopez said: "Results in the second quarter were mixed, with 2% year-over-year growth in both total and recurring revenue offset by a slight decrease in Adjusted EBITDA.

"The decrease was related to increased operating expenses as we continue to invest in strategic areas of our business, particularly in R & D, to capitalise on the vast whitespace in front of us."

Lopez will be speaking exclusively to Gambling Insider in our G2E preview magazine, which will be published in September.

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