2023-03-06 16:30:36 ET
- NeoGames press release ( NASDAQ: NGMS ): Q4 Non-GAAP EPS of $0.22 beats by $0.33 .
- Revenue of $69.22M (+465.1% Y/Y) misses by $6.32M .
- Adjusted EBITDA 1 was $18.1 million during the fourth quarter of 2022, compared to $7.9 million during the fourth quarter of 2021, representing an increase of 129% year-over-year.
- Guidance: The Company is initiating fiscal year 2023 Revenue and Share of NPI Revenues Interest Guidance.
- The 2023 revenue guidance reflects a change related to certain customer contracts within the Aspire Core business. Prior to 2023 the commercial terms were structured such that revenues were presented on a gross basis. Effective January 1, 2023, contracts representing approximately 87% of Aspire Core’s full year 2022 revenue have been modified to reflect new commercial terms which need to be accounted for on a net basis.
- Reflecting the foregoing, the Company expects 2023 Revenue and its Share of NPI Revenues Interest to be between $235 million and $255 million. Assuming a like-for-like basis to the prior year whereby the modified contracts were presented on a gross basis, our 2023 guidance would be between $323.3 million and $350.3 million, reflecting a 10.4% increase year-over-year at the midpoint when compared to pro forma results for the year ended December 31, 2022.
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NeoGames Non-GAAP EPS of $0.22 beats by $0.33, revenue of $69.22M misses by $6.32M