Inspired Games. Source: Yogonet

Inspired Entertainment Reports $323 Million in Fiscal Year 2023 Revenue

Inspired Entertainment Corp. has disclosed a revenue of $323 million for fiscal year 2023, with notable growth attributed to the interactive sector. The company's release of its fourth-quarter and full-year results occurred later than stipulated, prompting a warning from NASDAQ for non-compliance with regulations.

Year-over-year, revenue surged by 14.7% compared to fiscal year 2022, where earnings totaled $281.6 million. Notably, product sales witnessed a remarkable 86.1% increase from $33.2 million to $61.8 million, while service revenue escalated to $261.2 million from $248.4 million. Total adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) amounted to $100.5 million, marking a slight uptick from 2022 figures.

Despite the overall revenue growth, Inspired's net income for the year settled at $7.6 million, reflecting a notable decline of 63.1% from the previous year. This downturn is primarily attributed to heightened expenses, particularly in selling, general, and administrative costs, which soared to $115.5 million in 2023.

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