DoubleDown Interactive Co. (DDI) Q4 2024 earnings summary

Executive summary

• Full year 2024 revenue reached $341.3 million, up 10% year-over-year, mainly driven by the SuprNation acquisition; excluding SuprNation, revenue rose 1% year-over-year.

• Q4 2024 revenue was $82 million, with $73 million from social casino games and $9 million from SuprNation, acquired in late 2023.

• Adjusted EBITDA for 2024 was $141.9 million, a 16% increase year-over-year, reflecting improved monetization and cost discipline.

• Profit (excluding non-controlling interest) increased to $124.0 million for 2024, up from $101.0 million in 2023, driven by higher revenue and foreign exchange gains.

• The company continues to focus on player engagement, monetization, capital efficiency, and expansion into new gaming categories and markets.

Financial highlights

• Q4 2024 revenue declined slightly year-over-year to $82 million from $83.1 million; excluding SuprNation, revenue declined 7% year-over-year.

• Adjusted EBITDA for Q4 2024 was $35.1 million (42.8% margin), down from $37 million (44.5% margin) in Q4 2023.

• Net income for Q4 2024 was $35.6 million, or $0.72 per ADS, up from $29.9 million, or $0.52 per ADS, in Q4 2023.

• Full-year operating expenses increased 7% to $204.3 million, mainly due to SuprNation integration.

• Cash, cash equivalents, and short-term investments totaled $415 million at year-end, with a net cash position of $381 million.

Outlook and guidance

• Anticipates challenges for social casino revenue growth in 2025 due to industry headwinds and tough year-over-year comparisons.

• Plans to drive further growth in SuprNation through increased marketing and player acquisition, especially in the UK and Sweden.

• Management targets additional top-line growth in 2025, focusing on SuprNation's core U.K. and Sweden markets, contingent on favorable market conditions.

• Focus remains on enhancing player retention, monetization, and direct-to-consumer revenue.

• Continues to explore M&A and new game development, including a match-three game in beta.