Everi reports first quarter 2023 results

Board authorized new and expanded $180 million, 18-month share repurchase program, representing 13.5% of current market capitalization las vegas , may 10, 2023 /prnewswire/ -- everi holdings inc. (nyse: evri) ("everi" or the "company"), today announced results for the first quarter ended march 31, 2023. first  quarter 2023 and recent highlights revenues increased 14% to $200.5 million from $175.6 million a year ago fintech segment revenues grew 20% to $93.1 million, reflecting a 35% increase in software and other revenues, a 34% increase in hardware revenues, and a 13% rise in financial access revenues games segment revenues rose 9% to $107.4 million, reflecting a 15% increase in equipment sales revenues and a 7% rise in gaming operations revenues recurring revenues grew 11% to $148.9 million and represented 74% of total revenues; non-recurring revenues rose 25% to $51.6 million operating income of $52.0 million was essentially flat; net income decreased 11% to $28.1 million, or $0.30 per diluted share, compared to $31.5 million, or $0.31 per diluted share, in the 2022 first quarter, primarily due to higher net interest expense adjusted eps, a non-gaap financial measure, was $0.43 per diluted share compared with $0.42 per diluted share in the prior year adjusted ebitda, a non-gaap financial measure, increased 3% to $92.5 million compared with $89.6 million in the 2022 first quarter free cash flow, a non-gaap financial measure, was $37.1 million compared with $51.6 million in the 2022 first quarter everi's board of directors authorized a new $180 million, 18-month share repurchase program that replaces the company's previous $150 million program randy taylor, chief executive officer of everi, said, "overall, our first quarter results continued to demonstrate our consistent growth profile, as we further execute on our organic growth initiatives and benefit from several acquisitions we completed over the last twelve months.
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