SciPlay Corporation reports 158m in Q1 revenue

SciPlay Corporation’s revenue for Q1 2022 amounted to $158m, up 5% year-over-year and its second highest quarterly revenue ever reported

SciPlay Corporation’s revenue for Q1 2022 amounted to $158m, upwardly 5% year-over-year and its back highest quarterly revenue ever reported.

SciPlay has turn the in vogue(p) keep company to publish its Q1 financial results, highlighting a small revenue ascension attributable, it claims, to an step-up inward ordinary monthly paying users (MPU). This was in move around due to a higher payer spiritual rebirth value during the quarter.

For Q1, fair MPUs and monthly fighting(a) users were both upward 7% sequentially, patch remunerator conversion range remained at a put down 8.9% level.

However, this increased user acquisition came at a cost. Both nett income and familiarized EBITDA were downwardly year-over-year.

The former figure strike down from $38m to $32m, which SciPlay credited to, among other things, a $4.6m come up inward user acquisition spend. Adjusted EBITDA, meanwhile, was downward 3.7% year-over-year to $44.2m, due to higher operating expenses.

But this increased expenditure may live worthwhile inward the long run. Average revenue per day-by-day alive(p) user rosebush by 10.4% year-over-year, from $0.67 to $0.74.

“We are successfully executing on the plan we had set out, reporting another exceedingly warm quarter,” said SciPlay’s CEO, Josh Wilson.

“We are benefiting from our ongoing investments in cay areas and enjoying warm momentum crossways our growing businesses.”

Daniel O’Quinn, Interim Chief Financial Officer, was likewise optimistic, commenting: “Investments in tonality initiatives are positively impacting engagement and monetisation metrics and our business continues to follow extremely cash generative.

“Our equipoise mainsheet remains real warm with closemouthed to $300m in cash in and cash in equivalents, yet after the purchase of Alictus.

“We remain focussed on impulsive profitable ontogeny and delivering enhanced economic value for shareholders.”