Significantly Outperformed the Social Casino
Market
Generated Revenue Growth of 18% in the
Quarter and 11% for the Full Year and Achieved Full Year Financial
Targets
SciPlay Corporation (NASDAQ: SCPL) (“SciPlay” or the “Company”)
today reported results for the fourth quarter and fiscal year ended
December 31, 2022.
Josh Wilson, Chief Executive Officer of SciPlay,
commented, "SciPlay capped a pivotal year with strong fourth
quarter and full year results and delivered impressive top-line
results, growing revenue 18% in the fourth quarter and 11% for the
full year. We significantly outperformed the social casino market
and achieved record KPIs in the fourth quarter, including payer
conversion of 10.4%, ARPDAU reaching an 18% increase YoY and a 13%
YoY increase in paying users.
“SciPlay’s strong performance was powered by strategic
investments made in key initiatives including proprietary
technologies, data science and marketing all while implementing
dynamic and impactful LiveOps in our games. Our team continues to
execute on our differentiated approach to drive consistent growth,
increasing profitability and increasing shareholder value.”
Daniel O’Quinn, Interim Chief Financial Officer of
SciPlay, commented "Our record fourth quarter and full year
results are clear indicators of our industry-leading performance.
We generated double-digit growth on both the top and bottom line in
the quarter and achieved our full year financial targets, while
continuing to invest in our long-term growth strategies generating
substantial operating cash flow and returning significant capital
to our shareholders.
“The strength of our platform and unmatched player loyalty
propelled the performance of our games to all-time highs with
record ARPDAU and record paying players as we continue to deliver
long-term value for our shareholders.”
SUMMARY RESULTS
Three Months Ended
Year Ended
($ in millions)
December 31,
December 31,
2022
2021
2022
2021
Revenue
$
182.1
$
154.4
$
671.0
$
606.1
Net income
52.8
12.2
150.8
125.0
Net income margin
29.0
%
7.9
%
22.5
%
20.6
%
Net cash provided by operating
activities
55.2
37.5
150.4
163.8
Capital expenditures
2.9
1.1
11.5
9.1
Non-GAAP Financial
Measures (1)
Adjusted EBITDA (“AEBITDA”)
$
58.7
$
47.4
$
186.8
$
185.9
AEBITDA margin
32.2
%
30.7
%
27.8
%
30.7
%
As of December 31,
Balance Sheet
Measures
2022
2021
Cash and cash equivalents
$
330.1
$
364.4
Available liquidity(2)
480.1
514.4
(1)
The financial measures “AEBITDA”
and “AEBITDA margin” are non-GAAP financial measures defined below
under “Non-GAAP Financial Measures” and are reconciled to the most
directly comparable GAAP measures in the accompanying supplemental
tables at the end of this release.
(2)
Available liquidity is calculated
as cash and cash equivalents plus the undrawn capacity on our
revolver.
Key Performance Indicators - In-App
Purchases
(in millions, except ARPDAU(1),
AMRPPU(2), and percentages)
Three Months Ended
Year Ended
December 31,
Increase /
December 31,
Increase /
2022
2021
(Decrease)
2022
2021
(Decrease)
Mobile Penetration
90%
89%
1.0pp
90%
89%
1.0pp
Average Monthly Active Users
5.7
5.9
(0.2)
6.0
6.2
(0.2)
Average Daily Active Users
2.2
2.3
(0.1)
2.3
2.3
—
ARPDAU(1)
$0.87
$0.74
$0.13
$0.78
$0.71
$0.07
Average Monthly Paying Users
0.6
0.5
0.1
0.6
0.5
0.1
AMRPPU(2)
$99.16
$98.38
$0.78
$94.58
$95.26
($0.68)
Payer Conversion Rate
10.4%
8.9%
1.5pp
9.6%
8.5%
1.1pp
(1)
Average Revenue per Daily Active
User.
(2)
Average Monthly Revenue per
Paying User.
Fourth Quarter 2022 Financial
Highlights
- Revenue growth of 18% or by $27.7 million to a new
quarterly record of $182.1 million. Revenue growth in the quarter
was driven by strong game performance from Jackpot Party® Casino
and Quick Hit® Slots as well as revenue contribution from
Alictus.
- Net income was $52.8 million compared to $12.2 million
in the prior year period. This increase was primarily driven by
higher revenue performance and the prior year charge of $24.5
million for the Washington State settlement charge, partially
offset by a $7.3 million increase in personnel costs (including
stock-based compensation), and $5.8 million increase in marketing
spend. Net income margin was 29% for the quarter, an increase of
21.1 percentage points from the prior year period.
- AEBITDA, a non-GAAP financial measure defined below,
grew 24% to $58.7 million compared to $47.4 million in the prior
year period. Higher revenue performance more than offset increased
operating expenses as we continued to invest in marketing and
talent to support future growth initiatives. AEBITDA margin, a
non-GAAP financial measure defined below, was 32%, an increase of
150 basis points (“bps”) from the prior year period.
- Net cash provided by operating activities was $55.2
million, a $17.7 million increase from the prior year, primarily
driven by higher net income.
- Cash and cash equivalents increased $30.9 million to
$330.1 million from the third quarter of 2022. Total available
liquidity, which includes our undrawn revolver, was $480.1 million
at year-end 2022.
Fourth Quarter Key Performance
Highlights
- Jackpot Party Casino® achieved its second
consecutive quarterly record revenue.
- Quick Hit Slots® achieved its fourth consecutive
quarterly record revenue.
- Payer conversion rate reached a record 10.4%
demonstrating the effectiveness of our strategies to leverage live
services capabilities to enhance game play and engagement, driving
increased monetization.
- Average Monthly Revenue Per Paying User (AMRPPU)
increased to $99.16, the second-highest level in the Company’s
history.
- Average Monthly Paying Users (MPU) increased to a record
0.6 million compared to 0.5 million in the prior year period.
- Average Revenue Per Daily Active User (ARPDAU) increased
18% to a record $0.87 compared to $0.74 in the prior year
period.
Full Year 2022 Financial
Highlights
- Revenue growth of 11% to $671.0 million, compared to
prior year revenue of $606.1 million, due to strong revenue
performance generated by Jackpot Party® Casino and Quick Hit®
Slots, as well as from our acquisition of Alictus. Overall
performance reflected our strategy to focus on payer conversion and
retention, which drove strong game performance and significantly
above market growth.
- Net income increase of 21%, or $25.8 million, to $150.8
million, as compared to $125.0 million in the prior year, reflects
continued growth in revenue as average monthly paying users and
payer conversion rates continued to increase throughout 2022, as
well as the prior year’s legal settlement charge of $24.5 million.
Net income margin was 22%, an increase of 190 bps from 21% in the
prior year.
- AEBITDA, a non-GAAP financial measure defined below, was
$186.8 million as compared to $185.9 million in the prior year, an
increase of 0.5%, primarily reflecting higher revenues offset by
increased expense related to investments made in the SciPlay
engine, data science, marketing, and monetization, which fueled our
record performance in 2022. Additionally, throughout the year we
added talent to our game and marketing teams scaling support for
current operations and future growth initiatives. AEBITDA margin, a
non-GAAP financial measure defined below, was 28%, a decrease of
290 bps.
- Net cash provided by operating activities was
$150.4 million, a decline of 8% year-over-year, which was primarily
due to the payment of the $24.5 million legal settlement
(previously accrued), which was partially offset by higher
earnings.
- Cash and cash equivalents decreased by $34.3 million to
$330.1 million as of year-end 2022.
- Returned $41.7 million to shareholders, repurchasing
approximately 3 million shares through February 24, 2023,
representing approximately 70% of the $60 million share repurchase
program authorization, which was initiated in May 2022.
Full Year 2022 Key Performance
Highlights
- Payer Conversion Rate grew 110 bps to 9.6% validating
our strategies to focus on live operations to enhance game play and
engagement, driving increased monetization.
- AMRPPU of $94.58 maintained elevated levels with the
third consecutive year above $90.
- ARPDAU grew 10% to a record $0.78 compared to $0.71 in
the prior year.
- MPU increased to a record of 0.6 million compared to 0.5
million in the prior year period.
Earnings Conference Call
As previously announced, SciPlay executive leadership will host
a conference call on Thursday, March 2, 2023 at 8:30 am EST to
review the Company’s fourth quarter and full year results.
Participants may pre-register for the call by navigating to
SciPlay Call. To access the call live via a listen-only
webcast and presentation, please visit
http://investors.sciplay.com/news-and-events/events-and-presentations
and click on the webcast link for the Q4 2022 SciPlay Earnings
Conference Call. To access the call by telephone, please dial: +1
(833) 630-1073 (U.S.) or +1 (412) 317-1833 (International) and
reference Conference ID: SciPlay call. An audio call replay will be
available until March 16, 2023, by dialing +1 (877)-344-7529 (U.S.)
or +1 (412)-317-0088 (International) and (855) 669-9658 (Canada),
and provide passcode 5469053. A replay of the webcast will be
archived in the Investors section on http://www.sciplay.com.
About SciPlay
SciPlay Corporation (NASDAQ: SCPL) is a leading developer and
publisher of digital games on mobile and web platforms. SciPlay
currently offers social casino games Jackpot Party® Casino, Gold
Fish® Casino, Quick Hit® Slots, 88 Fortunes® Slots, MONOPOLY®
Slots, and Hot Shot Casino®, casual games Bingo Showdown®,
Solitaire Pets™ Adventure, and Backgammon Live, and a variety of
hyper-casual games such as Rob Master 3D™, Deep Clean, Inc.™ and Oh
God™. All of SciPlay’s games are offered and played on multiple
platforms, including Apple, Google, Facebook and Amazon. In
addition to developing original games, SciPlay has access to a
library of more than 1,500 real-world slot and table games provided
by Light & Wonder, Inc. and its Subsidiaries. For more
information, please visit http://www.SciPlay.com.
All ® and © notices signify copyrights owned by and/or marks
registered in the United States by SciPlay Games, LLC and/or LNW
Gaming, Inc. (formerly known as SG Gaming, Inc.), and/or their
respective affiliates.
© 2023 SciPlay Corporation. All Rights Reserved.
You can access our filings with the Securities Exchange
Commission (“SEC”) through the SEC website at http://www.sec.gov or
through our website, and we strongly encourage you to do so. We
routinely post information that may be important to investors on
our website at http://investors.sciplay.com/, and we use our
website as a means of disclosing material information to the public
in a broad, non-exclusionary manner for purposes of the SEC's
Regulation Fair Disclosure (Reg FD). The information contained on,
or that may be accessed through, our website is not incorporated by
reference into, and is not a part of, this document, and shall not
be deemed "filed" under the Securities Exchange Act of 1934, as
amended.
All ® notices signify marks registered in the United States. ©
2023 SciPlay Corporation. All Rights Reserved.
Forward-Looking Statements
Throughout this press release, we make “forward-looking
statements” within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995. Forward-looking statements describe
future expectations, plans, results or strategies and can often be
identified by the use of terminology such as “may,” “will,”
“estimate,” “intend,” “plan,” “continue,” “believe,” “expect,”
“anticipate,” “target,” “should,” “could,” “potential,”
“opportunity,” “goal,” or similar terminology. These statements are
based upon management’s current expectations, assumptions and
estimates and are not guarantees of timing, future results or
performance. Therefore, you should not rely on any of these
forward-looking statements as predictions of future events. Actual
results may differ materially from those contemplated in these
statements due to a variety of risks and uncertainties and other
factors, including, among other things:
- the effects of the COVID-19 pandemic and any resulting social,
political, economic and financial complications;
- our ability to attract and retain players;
- expectations of growth in total consumer spending on social
gaming, including social casino gaming;
- our reliance on third-party platforms and our ability to track
data on those platforms;
- our ability to continue to launch and enhance games that
attract and retain a significant number of paying players;
- our ability to expand in international markets;
- our reliance on a small percentage of our players for nearly
all of our revenue;
- our ability to adapt to, and offer games that keep pace with,
changing technology and evolving industry standards;
- competition;
- our dependence on the optional purchases of virtual coins,
chips and bingo cards (collectively referred to as “coins, chips
and cards”) to supplement the availability of periodically offered
free coins, chips and cards;
- our ability to access additional financing and restrictions and
covenants in debt agreements, including those that could result in
acceleration of the maturity of our indebtedness;
- the discontinuation or replacement of the London Interbank
Offer Rate, which may adversely affect interest rates;
- fluctuations in our results due to seasonality and other
factors;
- dependence on skilled employees with creative and technical
backgrounds;
- U.S. and international economic and industry conditions,
including increases in benchmark interest rates and the effects of
inflation;
- public perception of our response to environmental, social and
governance issues;
- changes in, or the elimination of, our share repurchase
program;
- our ability to use the intellectual property rights of Light
& Wonder, Inc. (“Light & Wonder”, “L&W” and “Parent”)
and other third parties, including the third-party intellectual
property rights licensed to Light & Wonder, under our
intellectual property license agreement with our Parent;
- protection of our proprietary information and intellectual
property, inability to license third-party intellectual property
and the intellectual property rights of others;
- security and integrity of our games and systems;
- security breaches, cyber-attacks or other privacy or data
security incidents, challenges or disruptions;
- reliance on or failures in information technology and other
systems;
- loss of revenue due to unauthorized methods of playing our
games;
- the impact of legal and regulatory restrictions on our
business, including significant opposition in some jurisdictions to
interactive social gaming, including social casino gaming, and how
such opposition could lead these jurisdictions to adopt legislation
or impose a regulatory framework to govern interactive social
gaming or social casino gaming specifically, and how this could
result in a prohibition on interactive social gaming or social
casino gaming altogether, restrict our ability to advertise our
games, or substantially increase our costs to comply with these
regulations;
- laws and government regulations, both foreign and domestic,
including those relating to our Parent, and to data privacy and
security, including with respect to the collection, storage, use,
transmission, sharing and protection of personal information and
other consumer data, and those laws and regulations that affect
companies conducting business on the internet, including ours;
- the continuing evolution of the scope of data privacy and
security regulations, and our belief that the adoption of
increasingly restrictive regulations in this area is likely within
the U.S. and other jurisdictions;
- risks related to foreign operations, including the complexity
of foreign laws, regulations and markets; the uncertainty of
enforcement of remedies in foreign jurisdictions; the effect of
currency exchange rate fluctuations; the impact of foreign labor
laws and disputes; the ability to attract and retain key personnel
in foreign jurisdictions; the economic, tax and regulatory policies
of local governments; and compliance with applicable anti-money
laundering, anti-bribery and anti-corruption laws;
- influence of certain stockholders, including decisions that may
conflict with the interests of other stockholders;
- our ability to achieve some or all of the anticipated benefits
of being a standalone public company;
- our dependence on distributions from SciPlay Parent Company,
LLC to pay our taxes and expenses, including substantial payments
we will be required to make under the Tax Receivable Agreement (the
“TRA”);
- failure to establish and maintain adequate internal control
over financial reporting;
- stock price volatility;
- litigation and other liabilities relating to our business,
including litigation and liabilities relating to consumer
protection, gambling-related matters, employee matters, alleged
service and system malfunctions, alleged intellectual property
infringement and claims relating to our contracts, licenses and
strategic investments;
- our ability to complete acquisitions and integrate businesses
successfully;
- our ability to pursue and execute new business
initiatives;
- our expectations of future growth that will place significant
demands on our management and operations;
- natural events and health crises that disrupt our operations or
those of our providers or suppliers;
- changes in tax laws or tax rulings, or the examination of our
tax positions;
- levels of insurance coverage against claims; and
- our dependence on certain key providers.
Additional information regarding risks and uncertainties and
other factors that could cause actual results to differ materially
from those contemplated in forward-looking statements is included
from time to time in our filings with the SEC, including the
Company's current reports on Form 8-K, quarterly reports on Form
10-Q, and annual reports on Form 10-K, including the forthcoming
reports to be filed with the SEC for the year ended December 31,
2022 (including under the headings "Forward Looking Statements" and
"Risk Factors"). Forward-looking statements speak only as of the
date they are made and, except for our ongoing obligations under
the U.S. federal securities laws, we undertake no and expressly
disclaim any obligation to publicly update any forward-looking
statements whether as a result of new information, future events or
otherwise.
This press release may contain references to industry market
data and certain industry forecasts. Industry market data and
industry forecasts are obtained from publicly available information
and industry publications. Industry publications generally state
that the information contained therein has been obtained from
sources believed to be reliable, but that the accuracy and
completeness of that information is not guaranteed. Although we
believe industry information to be accurate, it is not
independently verified by us and we do not make any representation
as to the accuracy of that information. In general, we believe
there is less publicly available information concerning
international social gaming industries than the same industries in
the U.S. Some data is also based on our good faith estimates, which
are derived from our review of internal surveys or data, as well as
the independent sources referenced above. Assumptions and estimates
of our and our industry's future performance are necessarily
subject to a high degree of uncertainty and risk due to a variety
of factors, including those described in "Risk Factors" in Part I,
Item 1A of our 2022 Annual Report on Form 10-K. These and other
factors could cause future performance to differ materially from
our assumptions and estimates.
Non-GAAP Financial Measures
Adjusted EBITDA, or AEBITDA, as used herein, is a non-GAAP
financial measure that is presented as supplemental disclosure and
is reconciled to net income attributable to SciPlay as the most
directly comparable GAAP measure as set forth in the above table.
We define AEBITDA to include net income attributable to SciPlay
before: (1) net income attributable to noncontrolling interest; (2)
interest expense; (3) income tax expense; (4) depreciation and
amortization; (5) restructuring and other, which includes charges
or expenses attributable to: (a) employee severance; (b) management
changes; (c) restructuring and integration; (d) M&A and other,
which includes: (i) M&A transaction costs; (ii) purchase
accounting adjustments (including contingent acquisition
consideration); (iii) unusual items (including legal settlements
related to major litigation) and (iv) other non-cash items; and (e)
cost-savings initiatives; (6) stock-based compensation; (7) loss
(gain) on debt financing transactions; and (8) other expense
(income) including foreign currency (gains) and losses. We also use
AEBITDA margin, a non-GAAP measure, which we calculate as AEBITDA
as a percentage of revenue.
Our management uses AEBITDA and AEBITDA margin to, among other
things: (i) monitor and evaluate the performance of our business
operations; (ii) facilitate our management’s internal comparisons
of our historical operating performance and (iii) analyze and
evaluate financial and strategic planning decisions regarding
future operating investments and operating budgets. In addition,
our management uses AEBITDA and AEBITDA margin to facilitate
management’s external comparisons of our results to the historical
operating performance of other companies that may have different
capital structures and debt levels.
Our management believes that AEBITDA and AEBITDA margin are
useful as they provide investors with information regarding our
financial condition and operating performance that is an integral
part of our management’s reporting and planning processes. In
particular, our management believes that AEBITDA is helpful because
this non-GAAP financial measure eliminates the effects of
restructuring, transaction, integration or other items that
management believes have less bearing on our ongoing underlying
operating performance. Management believes AEBITDA margin is useful
as it provides investors with information regarding the underlying
operating performance and margin generated by our business
operations.
SCIPLAY CORPORATION
CONSOLIDATED STATEMENTS OF
INCOME
(Unaudited, in millions,
except per share amounts)
Three Months Ended
Year Ended
December 31,
December 31,
2022
2021
2022
2021
Revenue
$
182.1
$
154.4
$
671.0
$
606.1
Operating expenses:
Cost of revenue(1)
55.9
48.7
204.0
190.0
Sales and marketing(1)
41.5
33.6
177.6
135.3
General and administrative(1)
18.8
15.6
67.6
62.4
Research and development(1)
12.2
10.9
46.8
39.7
Depreciation and amortization
5.6
4.2
21.4
15.5
Restructuring and other(2)
0.7
28.4
5.1
31.5
Total operating expenses
134.7
141.4
522.5
474.4
Operating income
47.4
13.0
148.5
131.7
Other income (expense):
Other income (expense), net
2.1
(0.6
)
3.0
(1.0
)
Total other income (expense), net
2.1
(0.6
)
3.0
(1.0
)
Net income before income taxes
49.5
12.4
151.5
130.7
Income tax benefit (expense)
3.3
(0.2
)
(0.7
)
(5.7
)
Net income
52.8
12.2
150.8
125.0
Less: Net income attributable to the
noncontrolling interest
45.3
10.0
128.4
105.7
Net income attributable to SciPlay
$
7.5
$
2.2
$
22.4
$
19.3
Basic and diluted net income attributable
to SciPlay per share:
Basic
$
0.33
$
0.09
$
0.94
$
0.80
Diluted
$
0.32
$
0.09
$
0.91
$
0.77
Weighted average number of shares of Class
A common stock used in per share calculation:
Basic shares
22.7
24.5
23.9
24.2
Diluted shares
23.5
24.8
24.5
25.0
(1)
Excludes depreciation and
amortization.
(2)
For 2021 periods, includes $24.5
million legal settlement charge.
SCIPLAY CORPORATION
CONDENSED CONSOLIDATED BALANCE
SHEETS
(Unaudited, in millions,
except par value)
As of December 31,
2022
2021
ASSETS
Cash and cash equivalents
$
330.1
$
364.4
Accounts receivable, net (allowance for
doubtful accounts of $—)
51.0
39.6
Prepaid expenses and other current
assets
8.0
6.4
Total current assets
389.1
410.4
Property and equipment, net
3.0
3.5
Operating lease right-of-use assets
4.8
6.8
Goodwill
217.6
131.1
Intangible assets and software, net
74.8
49.6
Deferred income taxes
74.5
78.5
Other assets
1.9
1.7
Total assets
$
765.7
$
681.6
LIABILITIES AND STOCKHOLDERS’
EQUITY
Accounts payable
$
18.4
$
20.0
Accrued liabilities
35.2
50.2
Due to affiliate
3.8
1.6
Total current liabilities
57.4
71.8
Operating lease liabilities
3.1
5.4
Liabilities under TRA
60.2
64.7
Other long‑term liabilities
29.4
14.7
Total liabilities
150.1
156.6
Total stockholders’ equity(1)
615.6
525.0
Total liabilities and stockholders’
equity
$
765.7
$
681.6
(1)
Includes $506.4 million and
$426.4 million in noncontrolling interest as of December 31, 2022
and December 31, 2021, respectively.
SCIPLAY CORPORATION
CONDENSED CONSOLIDATED
STATEMENTS OF CASH FLOWS
(Unaudited, in
millions)
Three Months Ended
Years Ended
December 31,
December 31,
2022
2021
2022
2021
Net cash provided by operating
activities
$
55.2
$
37.5
$
150.4
$
163.8
Net cash used in investing activities
(3.2
)
(1.1
)
(113.7
)
(14.8
)
Net cash used in financing activities
(21.2
)
(2.9
)
(70.3
)
(53.6
)
Effect of exchange rate changes on cash,
cash equivalents and restricted cash
0.1
0.1
(0.7
)
0.1
Increase (decrease) in cash, cash
equivalents and restricted cash
30.9
33.6
(34.3
)
95.5
Cash, cash equivalents and restricted
cash, beginning of period
299.2
330.8
364.4
268.9
Cash, cash equivalents and restricted
cash, end of period
$
330.1
$
364.4
$
330.1
$
364.4
Supplemental cash flow information:
Cash paid for income taxes
$
1.5
$
0.3
$
4.6
$
4.8
Non-cash investing and financing
transactions:
Non-cash additions to intangible assets
related to license agreements
$
—
$
—
$
1.0
$
14.1
SCIPLAY CORPORATION
RECONCILIATION OF NET INCOME
ATTRIBUTABLE TO SCIPLAY TO AEBITDA
(Unaudited, in
millions)
Three Months Ended
Year Ended
December 31,
December 31,
2022
2021
2022
2021
Net income attributable to SciPlay
$
7.5
$
2.2
$
22.4
$
19.3
Net income attributable to noncontrolling
interest
45.3
10.0
128.4
105.7
Net income
52.8
12.2
150.8
125.0
Restructuring and other(1)
0.7
28.4
5.1
31.5
Depreciation and amortization
5.6
4.2
21.4
15.5
Income tax (benefit) expense
(3.3
)
0.2
0.7
5.7
Stock-based compensation
5.0
1.8
11.8
7.2
Other (income) expense, net
(2.1
)
0.6
(3.0
)
1.0
AEBITDA
$
58.7
$
47.4
$
186.8
$
185.9
Revenue
$
182.1
$
154.4
$
671.0
$
606.1
Net income margin (Net income/Revenue)
29.0
%
7.9
%
22.5
%
20.6
%
AEBITDA margin (AEBITDA/Revenue)
32.2
%
30.7
%
27.8
%
30.7
%
(1)
Refer to AEBITDA definition for a
description of items included in restructuring and other. For 2021
periods, restructuring and other includes a $24.5 million legal
settlement charge.
RECONCILIATION OF NET INCOME
MARGIN
TO AEBITDA MARGIN
(Unaudited)
Three Months Ended
Year Ended
December 31,
December 31,
2022
2021
2022
2021
Net income margin (Net income/Revenue)
29.0
%
7.9
%
22.5
%
20.6
%
Restructuring and other
0.4
%
18.4
%
0.7
%
5.2
%
Depreciation and amortization
3.1
%
2.7
%
3.1
%
2.6
%
Income tax (benefit) expense
(1.8
)%
0.1
%
0.1
%
0.9
%
Stock-based compensation
2.7
%
1.2
%
1.8
%
1.2
%
Other (income) expense, net
(1.2
)%
0.4
%
(0.4
)%
0.2
%
AEBITDA margin (AEBITDA/Revenue)
32.2
%
30.7
%
27.8
%
30.7
%
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230301005395/en/
COMPANY CONTACTS Media Relations Andrea Schneider, +1
917-769-6060 Director, Global Communications
SciPlayPress@sciplay.com Investor Relations Robert Weiner,
+1 904-495-8227 Vice President, Investor Relations
SciPlayIR@sciplay.com
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