DoubleDown Interactive a leading developer and publisher of digital games on mobile and web-based platforms, has announced unaudited financial results for the fourth quarter and full year ended December 31, 2024.

Revenue was $82.0 million in the fourth quarter of 2024 compared to $83.1 million in the fourth quarter of 2023. SuprNation, a European iGaming operator (“SuprNation”) which was acquired by the Company in October 2023, generated revenue of $9.0 million in the fourth quarter of 2024. Excluding contributions from SuprNation, revenue decreased 7% year over year to $73.0 million.

Adjusted EBITDA was $35.1 million for the fourth quarter of 2024, compared to $37.0 million in the fourth quarter of 2023. Adjusted EBITDA margin was 42.8% in the fourth quarter of 2024 and 44.5% in the fourth quarter of 2023.

Average Revenue Per Daily Active User (“ARPDAU”) for the Company’s social casino/free-to-play games increased to $1.30 in the fourth quarter of 2024 from $1.24 in the fourth quarter of 2023 and was unchanged from the third quarter of 2024.

Average monthly revenue per payer for the social casino/free-to-play games increased to $282 in the fourth quarter of 2024 from $279 in the fourth quarter of 2023 and $281 in the third quarter of 2024.

“DoubleDown’s fourth quarter results highlight the ability of our businesses to generate consistently strong profitability and free cash flow despite the slight revenue decline compared to the fourth quarter of 2023,” said In Keuk Kim, Chief Executive Officer of DoubleDown.

“In the fourth quarter and throughout 2024 we delivered strong monetization metrics for our flagship social casino game, DoubleDown Casino, including full-year ARPDAU and average revenue per payer growth of 16% for both metrics when compared to the full year 2023 period. Our best-in-class ability to monetize our loyal players combined with our disciplined approach to user acquisition and R&D spend, drove cash flow from operations of $148 million in 2024, further solidifying our balance sheet.

“Our SuprNation iGaming business gained momentum throughout 2024 culminating with fourth quarter revenue being the highest under our ownership. With a full year of experience operating this business, we are targeting additional top line growth in 2025 as we pursue market share growth in SuprNation’s core U.K. and Sweden markets, subject to favorable market conditions.

“We continue to prioritize capital efficiency as reflected in our strong Adjusted EBITDA margins and free cash flow. At 2024 year-end, our aggregate net cash position was approximately $380 million, up $145 million from the end of 2023, and equivalent to approximately $7.69 per ADS. Our attractive net cash position and consistent free cash flow generation provides us with significant flexibility to deploy capital against organic and M&A focused growth opportunities that would further expand the business into new gaming categories with attractive addressable markets to create additional value for our shareholders.”