DoubleDown Interactive Co., Ltd. (NASDAQ: DDI) (“DoubleDown” or the
“Company”), a leading gaming company, delivering unique player
experiences across a variety of genres, today reported its
unaudited financial results for the fourth quarter and year ended
December 31, 2022.
Fourth Quarter 2022 vs. Fourth Quarter
2021 Summary
- Revenues
decreased from $86.3 million in the fourth quarter of 2021 to $76.2
million in the fourth quarter of 2022.
- Operating costs
increased from $62.7 million in the fourth quarter of 2021 to
$321.4 million in the fourth quarter of 2022, primarily due to a
$269.9 million non-cash impairment of Goodwill that the Company
took in the fourth quarter of 2022, which is a one-time charge and
not re-occurring in nature.
- Operating costs
would have decreased to $51.5 million (excluding the one-time
Goodwill impairment of $269.9 million), primarily due to lower cost
of revenues and decreased marketing expenditures.
- Adjusted EBITDA
decreased from $25.8 million for the fourth quarter of 2021 to
$24.7 million for the fourth quarter of 2022, resulting in an
Adjusted EBITDA margin of 32.4% for the fourth quarter of 2022,
compared to an Adjusted EBITDA margin of 29.9% for the fourth
quarter of 2021. The decrease in Adjusted EBITDA was primarily due
to lower revenue in the fourth quarter of 2022, with the higher
Adjusted EBITDA margin primarily attributable to lower marketing
expenditures.
- The Company
recorded a net loss of $194.4 million, or a loss of $78.47 per
common share on a fully diluted basis (loss of $3.92 per American
Depositary Share (“ADS”)), in the fourth quarter of 2022, compared
to a net income of $17.4 million, or $7.04 per common share on a
fully diluted basis ($0.35 per ADS), in the fourth quarter of 2021.
Note each ADS represents 0.05 share of a common share.
- Average Revenue
Per Daily Active User (“ARPDAU”) increased from $0.96 in the fourth
quarter of 2021 to $0.98 in the fourth quarter of 2022.
- Average monthly
revenue per payer increased from $216 in the fourth quarter of 2021
to $227 in the fourth quarter of 2022.
Full Year 2022 vs. Full Year 2021
Summary
- Revenues
decreased from $363.2 million for the year ended December 31, 2021
to $321.0 million for the year ended December 31, 2022.
- Operating costs
increased from $264.5 million in the year ended December 31, 2021
to $634.9 million in the year ended December 31, 2022, primarily
due to a $141.75 million charge related to the previously announced
agreement to settle the Benson class action and associated
proceedings and the $269.9 million impairment of Goodwill mentioned
above. Both charges are one-time charges and not re-occurring in
nature.
- Operating costs
would have decreased to $223.3 million in the year ended December
31, 2022 (excluding the Benson charge and Goodwill
impairment).
- Adjusted EBITDA
decreased from $120.1 million for the year ended December 31, 2021
to $101.6 million for the year ended December 31, 2022, resulting
in an Adjusted EBITDA margin of 31.6% in 2022, compared to an
adjusted EBITDA margin of 33.1% for 2021. The decreases in Adjusted
EBITDA and Adjusted EBITDA margin in 2022 were primarily due to
lower revenue in 2022.
- The Company
recorded a net loss of $234.0 million for the year ended December
31, 2022, or a loss of $94.43 per common share on a fully diluted
basis (loss of $4.72 per ADS), compared to a net income of $78.1
million for the year ended December 31, 2021, or $33.91 per common
share on a fully diluted basis ($1.70 per ADS).
- ARPDAU remained
stable at $0.97 for the year ended December 31, 2021 and December
31, 2022.
- Average monthly
revenue per payer increased from $218 for the year ended December
31, 2021 to $226 for the year ended December 31, 2022.
“DoubleDown completed the fourth quarter with
continuing solid cash flow generation and strong Adjusted EBITDA
margins, continuing to demonstrate the attractive high-margin,
capital light business model of our company,” said In Keuk Kim,
Chief Executive Officer of DoubleDown. “Our full-year 2022 revenue
of $321.0 million represents growth of over 17% compared to
full-year 2019, the most recent comparable period prior to the
COVID pandemic, which we believe illustrates the stickiness of the
customer base we have retained over the past several years. While
global inflationary pressures and recession concerns may be
moderately impacting discretionary spending broadly, we believe our
compelling gaming options and player loyalty provide us with an
advantageous position to remain a leading gaming company.”
“Looking ahead, we are excited about the
potential of our recently announced acquisition of SuprNation,
which allows us to enter the i-Gaming market and expand our
international presence, particularly in the regulated markets of
Europe. We expect to close this transaction in the coming months
and quickly initiate projects to capture synergy opportunities once
the transaction is closed. Additionally, we continue to plan for
new organic gaming additions, most near-term with Spinning in
Space, which recently began its soft launch period. We also plan
for additional launches of new games in 2023. Further, we remain in
a strong cash position of over $150 million (including cash, cash
equivalents and short-term investments, net of debt and the accrual
on our balance sheet associated with our Benson class action
settlement) at the end of 2022.”
Summary Operating Results for Double Down Interactive
(Unaudited)
(In millions of U.S.
dollars, except non-financial performance
metrics) |
|
Three Months Ended December 31, |
|
Twelve Months Ended December 31, |
|
|
2022 |
|
|
|
2021 |
|
|
|
2022 |
|
|
|
2021 |
|
Revenue |
$76.2 |
|
|
$86.3 |
|
|
$321.0 |
|
|
$363.2 |
|
Total
operating expenses |
|
51.5 |
|
|
|
62.7 |
|
|
|
223.3 |
|
|
|
261.0 |
|
Loss
Contingency |
|
- |
|
|
|
- |
|
|
|
141.8 |
|
|
|
3.5 |
|
Impairment
of Intangibles |
|
269.9 |
|
|
|
- |
|
|
|
269.9 |
|
|
|
- |
|
Adjusted
EBITDA |
|
24.7 |
|
|
|
25.8 |
|
|
|
101.6 |
|
|
|
120.1 |
|
Net income
(loss) |
$(194.4 |
) |
|
$17.4 |
|
|
$(234.0 |
) |
|
$78.1 |
|
Net income
margin |
|
(255.2% |
) |
|
|
20.2% |
|
|
|
(72.9% |
) |
|
|
21.5% |
|
Adjusted
EBITDA margin |
|
32.4% |
|
|
|
29.9% |
|
|
|
31.6% |
|
|
|
33.1% |
|
|
|
|
|
|
|
|
|
Non-financial performance metrics |
|
|
|
|
|
|
|
Average MAUs
(000s) |
|
2,084 |
|
|
|
2,432 |
|
|
|
2,247 |
|
|
|
2,444 |
|
Average DAUs
(000s) |
|
855 |
|
|
|
987 |
|
|
|
919 |
|
|
|
1,022 |
|
ARPDAU |
$0.98 |
|
|
$0.96 |
|
|
$0.97 |
|
|
$0.97 |
|
Average
monthly revenue per payer |
$227 |
|
|
$216 |
|
|
$226 |
|
|
$218 |
|
Payer
conversion |
|
5.4% |
|
|
|
5.5% |
|
|
|
5.3% |
|
|
|
5.7% |
|
|
|
|
|
|
|
|
|
Fourth Quarter 2022 Financial Results
Revenue in the fourth quarter of 2022 was $76.2
million, a 12% decrease from the fourth quarter of 2021. The
decrease was primarily due to the further normalization of player
activities after the lifting of stay-at-home orders and other
COVID-related restrictions compared to the prior year, as well as
changes in player behaviors relating to inflation and global
economic concerns during 2022.
Operating expenses in the fourth quarter of 2022
were $321.4 million, a 413% increase from the fourth quarter of
2021. The increase was primarily due to a non-cash impairment of
goodwill following its regular evaluation in accordance with U.S.
GAAP. The goodwill impairment was the result of decrease in the
market price of our ADSs in 2022, and as such, the impairment was
purely driven by accounting principles, is non-cash, and has no
fundamental impact to our business. The increase in operating
expenses was partially offset by lower cost of revenues and
decreased marketing expenditures.
We recorded a net loss of $194.4 million in the
fourth quarter of 2022 , or a loss of $78.47 per common share (a
loss of $3.92 per ADS) on a fully diluted basis, compared to a net
income of $17.4 million, or $7.04 per common share ($0.35 per ADS)
on a fully diluted basis, in the fourth quarter of 2021, primarily
as a result of the decreased revenue and increased operating
expenses. Note each ADS represents 0.05 share of a common
share.
Adjusted EBITDA in the fourth quarter of 2022
was $24.7 million, a decrease compared to $25.8 million in the
fourth quarter of 2021. The decrease was primarily due to lower
revenue.
Net cash flows used in operating activities for
the fourth quarter of 2022 was $20.9 million, compared to net cash
flows provided by operating activities of $18.5 million in the
fourth quarter of 2021. The decrease was primarily due to the
payment of $50 million toward the Benson litigation settlement.
Excluding such payment, net cash flows provided by operating
activities were $29.1 million.
Full Year 2022 Financial
Results
Revenue for the year ended December 31, 2022 was
$321.0 million, down 12% from the prior year, primarily due to the
further normalization of player activities after the lifting of
stay-at-home orders and other COVID-related restrictions in the
second quarter of 2022 compared to the prior year, as well as
changes in player behaviors relating to inflation and global
economic concerns during 2022.
Operating expenses for the year ended December
31, 2022 were $634.9 million, an increase of 140% from the prior
year. The increase was primarily due to a charge of $141.75 million
reflecting the incremental charge associated with the agreement in
principle to settle the Benson class action complaint and
associated proceedings and a $269.9 million impairment of
goodwill. Both charges are one-time charges and not
re-occurring in nature.
We recorded a net loss of $234.0 million for the
year ended December 31, 2022, or a loss of $94.43 per common share
on a fully diluted basis (loss of $4.72 per ADS), compared to a net
income of $78.1 million for 2021, or $33.91 per common share on a
fully diluted basis ($1.70 per ADS).
Adjusted EBITDA for 2022 decreased to $101.6
million compared to $120.1 million for 2021, primarily due to lower
revenue in 2022.
Net cash flows provided by operating activities
for the year ended December 31, 2022, were $50.8 million compared
to $96.1 million in the year ended December 31, 2021. The decrease
was primarily due to the payment of $50 million toward the Benson
litigation settlement in the fourth quarter of 2022. Excluding such
payment, net cash flows provided by operating activities were
$100.8 million.
Conference Call
DoubleDown will hold a conference call today
(February 7, 2023) at 5:00 p.m. Eastern Time (2:00 p.m. Pacific
Time) to discuss these results. A question-and-answer session will
follow management's presentation.
To access the call, please use the following
link: DoubleDown Fourth Quarter 2022 Earnings Call. After
registering, an email will be sent, including dial-in details and a
unique conference call access code required to join the live call.
To ensure you are connected prior to the beginning of the call,
please register a minimum of 15 minutes before the start of the
call.
A simultaneous webcast of the conference call
will be available with the following link: DoubleDown Fourth
Quarter 2022 Webcast, or via the Investor Relations page of the
DoubleDown website at ir.doubledowninteractive.com. For those not
planning to ask a question on the conference call, the Company
recommends listening via the webcast.
A replay will be available on the Company's Investor Relations
website shortly after the event.
About DoubleDown Interactive
DoubleDown Interactive Co., Ltd. is a leading
developer and publisher of digital games on mobile and web-based
platforms. We are the creators of multi-format interactive
entertainment experiences for casual players, bringing authentic
Vegas entertainment to players around the world through an online
social casino experience. Our flagship title, DoubleDown Casino,
has been a fan-favorite game on leading social and mobile platforms
for years, entertaining millions of players worldwide with a lineup
of classic and modern games.
Safe Harbor Statement
Certain statements contained in this press
release are “forward-looking statements” about future events and
expectations for purposes of the safe harbor provisions under the
United States Private Securities Litigation Reform Act of 1995.
Forward-looking statements are based on our beliefs, assumptions,
and expectations of industry trends, our future financial and
operating performance, and our growth plans, taking into account
the information currently available to us. These statements are not
statements of historical fact. We have based these forward-looking
statements on our current expectations and assumptions about future
events. While our management considers these expectations and
assumptions to be reasonable, they are inherently subject to
significant business, economic, competitive, regulatory and other
risks, contingencies and uncertainties, most of which are difficult
to predict and many of which are beyond our control. Therefore, you
should not place undue reliance on such statements. Words such as
“anticipates,” believes,” “continues,” “estimates,” “expects,”
“goal,” “objectives,” “intends,” “may,” “opportunity,” “plans,”
potential,” “near-term,” long-term,” “projections,” “assumptions,”
“projects,” “guidance,” “forecasts,” “outlook,” “target,” “trends,”
“should,” “could,” “would,” “will,” and similar expressions are
intended to identify such forward-looking statements. We qualify
any forward-looking statements entirely by these cautionary
factors. We assume no obligation to update or revise any
forward-looking statements for any reason or to update the reasons
actual results could differ materially from those anticipated in
these forward-looking statements, even if new information becomes
available in the future.
Use and Reconciliation of Non-GAAP Financial
Measures
In addition to our results determined in
accordance with the accounting principles generally accepted in the
United States of America (“GAAP”), we believe the following
non-GAAP financial measure is useful in evaluating our operating
performance. We present “adjusted earnings before interest, taxes,
depreciation and amortization” (“Adjusted EBITDA”) because we
believe it assists investors and analysts by facilitating
comparison of period-to-period operational performance on a
consistent basis by excluding items that we do not believe are
indicative of our core operating performance. The items excluded
from the Adjusted EBITDA may have a material impact on our
financial results. Certain of those items are non-recurring, while
others are non-cash in nature. Accordingly, the Adjusted EBITDA is
presented as supplemental disclosure and should not be considered
in isolation of, as a substitute for, or superior to, the financial
information prepared in accordance with GAAP, and should be read in
conjunction with the financial statements furnished in our Form 6-K
to be filed with the SEC.
In our reconciliation from our reported GAAP
“net income before provision for taxes” to our Adjusted EBITDA, we
eliminate the impact of the following six line items:
(i)depreciation and amortization; (ii) loss contingency related to
the Benson case; (iii) impairment of goodwill and intangibles; (iv)
interest expense; (v) foreign currency transaction/remeasurement
(gain) loss; (vi) short-term investments (gain) loss; and (vii)
other (income) expense, net. The below table sets forth the full
reconciliation of our non-GAAP measures:
Reconciliation of non-GAAP measures |
Three Months Ended December 31, |
|
Twelve Months Ended December 31, |
(in millions, except percentages) |
|
2022 |
|
|
2021 |
|
|
|
2022 |
|
|
2021 |
|
Net income
(loss) |
$(194.4 |
) |
$17.4 |
|
|
$(234.0 |
) |
$78.1 |
|
Income tax
(expense) benefit |
|
60.3 |
|
|
(5.8 |
) |
|
|
71.2 |
|
|
(22.5 |
) |
Income
before tax |
|
(254.7 |
) |
|
23.2 |
|
|
|
(305.2 |
) |
|
100.6 |
|
|
|
|
|
|
|
Adjustments
for: |
|
|
|
|
|
Depreciation and amortization |
|
0.1 |
|
|
2.2 |
|
|
|
3.8 |
|
|
17.9 |
|
Loss contingency |
|
- |
|
|
- |
|
|
|
141.8 |
|
|
3.5 |
|
Impairment of intangibles |
|
269.9 |
|
|
- |
|
|
|
269.9 |
|
|
- |
|
Interest expense |
|
0.5 |
|
|
0.5 |
|
|
|
1.8 |
|
|
2.0 |
|
Foreign currency transaction/remeasurement (gain) loss |
|
11.2 |
|
|
(1.6 |
) |
|
|
(5.8 |
) |
|
(3.0 |
) |
Short-term investments (gain) loss |
|
(0.0 |
) |
|
- |
|
|
|
0.2 |
|
|
- |
|
Other (income) expense, net |
|
(2.2 |
) |
|
1.5 |
|
|
|
(4.9 |
) |
|
(0.9 |
) |
Adjusted
EBITDA |
$24.7 |
|
$25.8 |
|
|
$101.6 |
|
$120.1 |
|
Adjusted EBITDA margin |
|
32.4% |
|
|
29.9% |
|
|
|
31.6% |
|
|
33.1% |
|
|
|
|
|
|
|
We encourage investors and others to review our
financial information in its entirety and not to rely on any single
financial measure.
Company Contact:Joe Sigristir@doubledown.com+1
(206) 773-2266Chief Financial
Officerhttps://www.doubledowninteractive.com
Investor Relations Contact:Cody Slach or Jeff
Grampp, CFAGateway Group1-949-574-3860DDI@gatewayir.com
DoubleDown Interactive Co.,
Ltd.Condensed Consolidated Balance
Sheets
(Unaudited)
|
Years ended
December 31, |
|
|
2022 |
|
2021 |
Assets |
|
|
Current assets: |
|
|
Cash and cash equivalents |
$ |
217,352 |
$ |
242,060 |
Short-term investments |
|
67,891 |
|
- |
Accounts receivable, net |
|
21,198 |
|
21,875 |
Prepaid expenses, and other assets |
|
6,441 |
|
6,817 |
Total
current assets |
$ |
312,882 |
$ |
270,752 |
Property and equipment, net |
|
436 |
|
384 |
Operating lease right-of-use assets, net |
|
3,858 |
|
6,830 |
Intangible assets, net |
|
35,051 |
|
53,679 |
Goodwill |
|
379,072 |
|
633,965 |
Deferred tax asset |
|
59,290 |
|
2,616 |
Other non-current assets |
|
1,463 |
|
1,582 |
Total
assets |
$ |
792,052 |
$ |
969,808 |
|
|
|
Liabilities
and Shareholders' Equity |
|
|
Accounts payable and accrued expenses |
$ |
13,830 |
|
14,752 |
Short-term operating lease liabilities |
|
3,050 |
|
3,076 |
Contract liabilities |
|
2,426 |
|
2,246 |
Loss Contingency |
|
95,250 |
|
- |
Other current liabilities |
|
1,926 |
|
730 |
Total
current liabilities |
$ |
116,482 |
$ |
20,804 |
Long-term borrowings with related party |
|
39,454 |
|
42,176 |
Long-term operating lease liabilities |
|
1,625 |
|
4,688 |
Deferred tax liabilities, net |
|
- |
|
28,309 |
Loss Contingency |
|
- |
|
3,500 |
Other non-current liabilities |
|
8,265 |
|
6,453 |
Total
liabilities |
$ |
165,826 |
$ |
105,930 |
Shareholders' equity |
|
|
Common stock, KRW 10,000 par value - 200,000,000 Shares
authorized; |
|
2,477,672 issued and outstanding |
|
21,198 |
|
21,198 |
Additional paid-in-capital |
|
359,280 |
|
671,831 |
Accumulated other comprehensive income |
|
19,360 |
|
23,033 |
Retained earnings |
|
226,388 |
|
147,816 |
Total
shareholders' equity |
$ |
626,226 |
$ |
863,878 |
Total
liabilities and shareholders' equity |
$ |
792,052 |
$ |
969,808 |
|
|
|
DoubleDown Interactive Co.,
Ltd.Condensed Consolidated Statement of Income and
Comprehensive Income(Unaudited)
|
Three months
ended December 31, |
|
Years ended
December 31, |
|
|
2022 |
|
|
2021 |
|
|
|
2022 |
|
|
2021 |
|
Revenue |
$76,170 |
|
$86,303 |
|
|
$321,027 |
|
$363,205 |
|
Operating
expenses: |
|
|
|
|
|
Cost of
revenue(1) |
|
25,841 |
|
|
29,789 |
|
|
|
109,305 |
|
|
126,612 |
|
Sales and
marketing(1) |
|
16,855 |
|
|
21,908 |
|
|
|
71,911 |
|
|
78,821 |
|
Research and
development(1) |
|
4,478 |
|
|
3,855 |
|
|
|
18,182 |
|
|
18,490 |
|
General and
administrative(1) |
|
4,287 |
|
|
4,947 |
|
|
|
20,058 |
|
|
19,131 |
|
Loss
contingency |
|
- |
|
|
- |
|
|
|
141,750 |
|
|
3,500 |
|
Impairment
of goodwill and intangibles |
|
269,893 |
|
|
- |
|
|
|
269,893 |
|
|
- |
|
Depreciation
and amortization |
|
50 |
|
|
2,214 |
|
|
|
3,801 |
|
|
17,918 |
|
Total
operating expenses |
|
321,404 |
|
|
62,713 |
|
|
|
634,900 |
|
|
264,472 |
|
Operating
income (loss) |
$(245,234) |
|
$23,590 |
|
|
$(313,873) |
|
$98,733 |
|
Other income
(expense): |
|
|
|
|
|
Interest
expense |
|
(476) |
|
|
(490) |
|
|
|
(1,831) |
|
|
(2,011) |
|
Interest
income |
|
2,251 |
|
|
100 |
|
|
|
4,993 |
|
|
208 |
|
Gain on
foreign currency transactions |
|
6,138 |
|
|
70 |
|
|
|
6,994 |
|
|
1,110 |
|
Gain (loss)
on foreign currency remeasurement, net |
|
(17,341) |
|
|
1,567 |
|
|
|
(1,179) |
|
|
1,920 |
|
Gain (loss)
on short-term investments |
|
3 |
|
|
- |
|
|
|
(152) |
|
|
- |
|
Other,
net |
|
(22) |
|
|
(1,607) |
|
|
|
(120) |
|
|
654 |
|
Total other
income (expense), net |
$(9,447) |
|
$(360) |
|
|
$8,705 |
|
$1,881 |
|
Income
(loss) before income tax |
$(254,681) |
|
$23,230 |
|
|
$(305,168) |
|
$100,614 |
|
Income tax
(expense) benefit |
|
60,264 |
|
|
(5,793) |
|
|
|
71,190 |
|
|
(22,506) |
|
Net income
(loss) |
$(194,417) |
|
$17,437 |
|
|
$(233,978) |
|
$78,108 |
|
Other
comprehensive income (expense): |
|
|
|
|
|
Pension
adjustments, net of tax |
|
32 |
|
|
(165) |
|
|
|
(154) |
|
|
(286) |
|
Gain (loss)
on foreign currency translation |
|
7,567 |
|
|
89 |
|
|
|
(3,519) |
|
|
504 |
|
Comprehensive income (loss) |
$(186,818) |
|
$17,361 |
|
|
$(237,651) |
|
$78,326 |
|
|
|
|
|
|
|
Earnings per
share: |
|
|
|
|
|
Basic |
$(78.47) |
|
$7.04 |
|
|
$(94.43) |
|
$33.91 |
|
Diluted |
$(78.47) |
|
$7.04 |
|
|
$(94.43) |
|
$33.91 |
|
Weighted
average shares outstanding: |
|
|
|
|
|
Basic |
|
2,477,672 |
|
|
2,477,672 |
|
|
|
2,477,672 |
|
|
2,303,200 |
|
Diluted |
|
2,477,672 |
|
|
2,477,672 |
|
|
|
2,477,672 |
|
|
2,303,200 |
|
(1)
Excluding depreciation and amortization |
|
|
|
|
|
|
|
|
|
|
|
DoubleDown Interactive Co.,
Ltd.Condensed Consolidated Statement of Cash
Flows(Unaudited)
|
Years ended December 31, |
|
|
2022 |
|
|
2021 |
|
Cash flow
from (used in) operating activities: |
|
|
Net Income
(loss) |
$(233,978 |
) |
$78,108 |
|
Adjustments to reconcile net income to net cash from operating
activities: |
|
Depreciation and amortization |
|
3,801 |
|
|
17,918 |
|
Impairment of goodwill and intangibles |
|
269,893 |
|
|
- |
|
(Gain)Loss on foreign currency remeasurement |
|
1,179 |
|
|
(2,082 |
) |
(Gain)Loss on short-term investments |
|
152 |
|
|
- |
|
Deferred taxes |
|
(84,983 |
) |
|
5,976 |
|
Non-cash interest expense on Bonds |
|
- |
|
|
23 |
|
Working
capital adjustments: |
|
|
Accounts receivable |
|
(46 |
) |
|
1,638 |
|
Prepaid expenses, other current and non-current assets |
|
(142 |
) |
|
(2,950 |
) |
Accounts payable, accrued expenses and other payables |
|
(239 |
) |
|
(2,052 |
) |
Contract liabilities |
|
180 |
|
|
(168 |
) |
Income tax payable |
|
- |
|
|
(2,838 |
) |
Loss contingency |
|
91,750 |
|
|
3,500 |
|
Other current and non-current liabilities |
|
3,224 |
|
|
(968 |
) |
Net cash
flows from operating activities |
$50,791 |
|
$96,105 |
|
Cash flow
(used in) investing activities: |
|
|
Purchases of intangible assets |
|
(4 |
) |
|
(61 |
) |
Purchases of property and equipment |
|
(269 |
) |
|
(207 |
) |
Disposals of property and equipment |
|
26 |
|
|
3 |
|
Purchases of short-term investments |
|
(518,629 |
) |
|
(1,541 |
) |
Sales of short-term investments |
|
451,046 |
|
|
- |
|
Net cash
flows (used in) investing activities |
$(67,830 |
) |
$(1,806 |
) |
Cash flow
from (used in) financing activities: |
|
|
Issuance of new shares - IPO |
|
- |
|
|
86,041 |
|
Net cash
flows from (used in) financing activities: |
|
- |
|
$86,041 |
|
Net foreign
exchange difference on cash and cash equivalents |
|
(7,669 |
) |
|
(1,468 |
) |
Net increase
(decrease) in cash and cash equivalents |
$(24,708 |
) |
$178,872 |
|
Cash and
cash equivalents at beginning of period |
$242,060 |
|
$63,188 |
|
Cash and
cash equivalents at end of period |
$217,352 |
|
$242,060 |
|
Supplemental
disclosures of cash flow information |
|
|
Noncash
financing activity: |
|
|
Conversion of 2.5% Convertible bonds, net of tax |
|
$- |
|
|
- |
|
Conversion of 2.5% Non-convertible bonds with warrants, net of
tax |
|
$- |
|
|
- |
|
Cash paid
during year for: |
|
|
Interest |
|
- |
|
|
- |
|
Income
taxes |
$15,985 |
|
$18,819 |
|
|
|
|
DoubleDown Interactive (NASDAQ:DDI)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
DoubleDown Interactive (NASDAQ:DDI)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024