Inspired Entertainment reports Q2 adjusted EPS 18c, consensus 25c

Reports Q2 revenue $80.4M, consensus $81.95M. “Revenue grew in each of our business lines during the second quarter reflecting solid underlying fundamentals. The digital businesses once again generated record reported quarterly revenue and are steadily contributing a greater proportion of our earnings and cash flow,” said Lorne Weil, Executive Chairman of Inspired. “Interactive revenue increased 28% year-over-year on a functional currency basis, posting a quarterly record as we increased our footprint through new customer launches as well as revenue growth from existing customers. Virtual Sports produced record reported quarterly revenue of $15.0 million with very high conversion to earnings and cash flow, as Adjusted EBITDA grew faster than revenue. It is also worth mentioning that we successfully negotiated long-term extensions for our Virtual Sports strategic partnerships with both bet365 and Paddy Power.”