With $341.3 million in revenue at the end of FY 2024, DoubleDown Interactive increased its earnings by 10.5%. However, Q4 2024 sales dropped to $82 million, a 1.3% year-over-year decline.
CEO Keuk Kim emphasized the company’s resilience despite the quarterly dip. “DoubleDown’s fourth quarter results highlight the ability of our businesses to generate consistently strong profitability and free cash flow despite the slight revenue decline compared to the fourth quarter of 2023,” Kim stated.
Throughout the year, DoubleDown Casino, the company’s flagship game, had impressive monetization rates. ARPDAU and average revenue per payer both had year-over-year growth of 16%. Kim attributed this achievement to a methodical approach to R&D expenditures and user acquisition. The business’s operational cash flow of $148 million strengthened its financial position.
Profit Growth and SuprNation Expansion
DoubleDown’s full-year profit surged to $124.4 million, up 23% from 2023. Adjusted EBITDA also climbed 16% to $141.9 million. Despite these gains, operating expenses rose by 7%, reaching $204.3 million. The company improved its profit margin from 32.7% in FY 2023 to 36.4% in FY 2024.
SuprNation, a European iGaming operator acquired in October 2023, contributed $9 million to Q4 2024 revenue. Without this addition, DoubleDown’s revenue for the quarter would have dropped by 7% year-over-year.
Kim remains optimistic about SuprNation’s growth potential. “Our SuprNation iGaming business gained momentum throughout 2024, culminating with fourth quarter revenue being the highest under our ownership. With a full year of experience operating this business, we are targeting additional top-line growth in 2025 as we pursue market share growth in SuprNation’s core UK and Sweden markets, subject to favorable market conditions,” he said.
Q4 operating expenses reached $47.8 million, slightly up from $47.4 million in Q4 2023. Adjusted EBITDA fell by 5.1% to $35.1 million. However, DoubleDown’s quarterly profit rose by nearly $10 million year-over-year, reaching $35.7 million.
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