Fourth quarter 2022 highlights: total revenue increased 16% y/y to a record $81.7 million; up sequentially for the eighth consecutive quarter net income reached a record $2.5 million adjusted ebitda improved 16% y/y to a quarterly record $37.3 million achieved year-end 2022 net leverage target of less than 4.0x domestic egm recurring revenue grew to a record $46.8 million; up 8% y/y and 13% ahead of q4 2019 domestic premium egm mix reached 15% at year end; footprint has grown for twelve straight quarters global egm sales eclipsed 1,000 units for the second consecutive quarter; highest level achieved since q4 2019 targeting to exit 2023 with net leverage in the range of 3.25x to 3.75x las vegas , march 9, 2023 /prnewswire/ -- playags, inc. (nyse: ags) ("ags", "us", "we" or the "company"), a designer and developer of equipment and services solutions for the global gaming industry, today reported operating results for the fourth quarter and full year ended december 31, 2022. commenting upon the company's fourth quarter financial performance, ags president and chief executive officer david lopez said, "our record-setting fourth quarter results reflect the accelerating returns we continue to realize on investments made into our r&d, sales and product management teams over the past several years.
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