In its financial results for the second quarter of 2024, DoubleDown Interactive reported significant gains in net income, adjusted EBITDA, and revenue. With $88.2 million in consolidated revenue, the company reported a 17% increase over the same time the previous year. Contributions to this expansion come from SuprNation, a business DoubleDown purchased in January 2023. When SuprNation’s impact is taken out, the revenue increase is 7%.
Significant growth was also seen in net income, which increased by over 36.5% to $33.3 million in Q2 2024. Furthermore, adjusted EBITDA increased by 34% from the second quarter of 2023 to $37 million.
Driving Player Engagement and Strategic Growth
DoubleDown’s CEO, Keuk Kim, attributed this success to the introduction of new meta features in their flagship app, DoubleDown Casino. Kim noted, “The recent introduction of new meta features in our flagship app, DoubleDown Casino, continues to help drive strong improvements in player engagement and monetization, as evidenced by ARPDAU and average revenue per player rising year over year by 27% and 23%, respectively.”
In addition, Kim underlined that the business is focused on maximizing go-to-market tactics for SuprNation with the goal of achieving steady revenue and cash flow growth. The social casino industry saw a 7% rise in income from the previous year, which strengthened the business’s financial performance even more.
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