Everi reports second quarter 2023 results

Revenues rise 6% reflecting growth in both games and fintech segments including a 9% increase in recurring revenues company updates full year outlook las vegas , aug. 9, 2023 /prnewswire/ -- everi holdings inc. (nyse: evri) ("everi" or the "company"), today announced results for the second quarter ended june 30, 2023. revenues increased 6% to $208.7 million from $197.2 million a year ago fintech segment revenues grew 13% to $95.6 million, reflecting a 26% increase in software and other revenues, a 9% rise in financial access revenues and a 6% increase in hardware revenues games segment revenues rose 1% to $113.1 million, reflecting a 5% rise in gaming operations partially offset by an 8% decline in gaming equipment and systems sales revenues recurring revenues grew 9% to $151.6 million and represented 73% of total revenues; non-recurring revenues declined 1% to $57.1 million operating income of $53.3 million declined 2% from $54.5 million in the prior year; net income decreased 16% to $27.4 million, or $0.29 per diluted share, compared to $32.5 million, or $0.33 per diluted share, in the 2022 second quarter, primarily due to higher net interest costs of $7.8 million in the second quarter of 2023 adjusted eps , a non-gaap financial measure, was $0.41 per diluted share compared with $0.48 per diluted share in the prior year adjusted ebitda, a non-gaap financial measure, increased 2% to $96.1 million compared with $94.4 million in the 2022 second quarter free cash flow, a non-gaap financial measure, was $47.7 million compared with $49.8 million in the 2022 second quarter repurchased 2.7 million shares for $40.0 million in the 2023 second quarter under the $180 million share repurchase authorization, with $140.0 million available to repurchase revised 2023 outlook, including net income range of $98 million to $106 million, adjusted ebitda range of $380 million to $386 million and free cash flow range of $147 million to $153 million   randy taylor, chief executive officer of everi, said, "our second quarter results include 6% year over year revenue growth.
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