Ags reports record fourth quarter and full year 2023 results
Fourth quarter 2023 highlights: • total revenue increased 15% y/y to a record $94.2 million; eleventh consecutive quarter of double-digit y/y growth • global egm sales reached a record 1,519 units; up by over 30% y/y for the third straight quarter • table products revenue surged 24% y/y to a new record; supported by accelerating pax s adoption • interactive revenue grew more than 30% y/y to a record $3.4 million; up 8% versus q3 2023 • income from operations increased 19% y/y to $16.0 million; net income totaled $67 thousand • total adjusted ebitda advanced to a record $42.8 million; total adjusted ebitda margin exceeded 45% • cash from operating activities totaled $26.4 million; free cash flow topped $10 million for the third quarter in a row • net leverage fell to 3.2x at quarter end; targeting year end 2024 net leverage in the range of 2.75x to 3.00x las vegas, march 05, 2024 (globe newswire) -- 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, 2023. commenting upon the company's fourth quarter financial performance, ags president and chief executive officer david lopez said, "the strength in our four quarter results was broad-based, with all three operating segments setting new quarterly records for revenue and adjusted ebitda.
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