Evolution Gaming shares slide following Q4 earnings
Shares of Evolution Gaming fell by 8% yesterday after the company disclosed its financial results for the fourth quarter of 2024.
Despite reporting a 12.3% increase in net revenue to EUR 533.8 million and an adjusted EBITDA of EUR 363.6 million, the market responded negatively to the overall earnings announcement.
The company’s net revenue growth at constant currency was estimated to be 16% for the quarter. Additionally, the report included non-recurring other operating revenues of EUR 91.4 million, which was related to a reduced earn-out liability. For the full year 2024, Evolution Gaming announced a net revenue growth of 14.7% and an adjusted EBITDA margin of 68.4%.
Despite these seemingly positive figures, the company’s CEO highlighted several challenges faced in the past year, including sabotage activities at their Georgian studio, cyber-attacks in Asia, and an increased tax rate.