Welcome to our dedicated page for Doubledown Interactive Co., Ltd. news (Ticker: DDI), a resource for investors and traders seeking the latest updates and insights on Doubledown Interactive Co., Ltd. stock.
DoubleDown Interactive Co., Ltd. (NASDAQ: DDI) is a developer and publisher of digital games on mobile and web-based platforms, with a focus on social casino and iGaming content. The news flow around DoubleDown provides insight into how the company manages its gaming portfolio, reports financial performance, and executes on acquisitions and capital markets activity.
Visitors to this DDI news page can review company-issued press releases covering quarterly financial results, conference call announcements, and operational updates. Earnings releases detail revenue from social casino/free-to-play games and from SuprNation, the company’s iGaming subsidiary that operates three real-money sites in Western Europe. These updates also include non-financial metrics such as monthly active users, daily active users, ARPDAU, average monthly revenue per payer, and payer conversion for the social casino business.
News items also document DoubleDown Interactive’s corporate actions. Recent examples include announcements about entering into and completing the acquisition of WHOW Games GmbH, a social casino developer headquartered in Hamburg, Germany, and secondary offerings of American Depositary Shares by a selling shareholder under shelf registration statements. Filings and press releases linked here explain that these offerings do not change the number of common shares outstanding and that the company does not receive proceeds from the sales.
Other releases highlight DoubleDown’s transition to reporting under International Financial Reporting Standards (IFRS), as well as community-oriented initiatives such as a donation to Meals on Wheels America. For investors and followers of DDI stock, this news page aggregates the company’s official communications, making it easier to track developments in its social casino and iGaming operations, financial reporting, and corporate transactions over time.
DoubleDown Interactive reported Q3 2022 results, showing a 9% revenue decline to $78.8 million from $87.0 million in Q3 2021. Operating costs surged 110% to $124.1 million, primarily due to a $70.25 million settlement charge for the Benson class action. The company recorded a net loss of $24.0 million, compared to a profit of $22.8 million a year earlier. Adjusted EBITDA also decreased to $25.0 million. Despite these challenges, the company maintained its ARPDAU at $0.96 and noted strong cash flow, touting a robust financial position with $130 million in cash and equivalents.
DoubleDown Interactive (NASDAQ: DDI) will conduct a conference call on November 8, 2022, at 5:00 p.m. ET, to discuss its Q3 financial results ending September 30, 2022. The financial results press release will precede the call. This event will include a presentation and a Q&A session. Investors can join via a provided link or through a simultaneous webcast. A replay will be available on the Investor Relations website post-event. DoubleDown is a leading developer of digital social casino games, known for its flagship title, DoubleDown Casino.
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DoubleDown Interactive Co., Ltd. (NASDAQ: DDI) held an extraordinary general meeting of shareholders on August 26, 2022, in Seoul, Korea. Shareholders approved the re-election of directors In Keuk Kim, Joseph A. Sigrist, Ki Chul Kim, and Haenam Kim for a new three-year term through August 25, 2025. Additionally, Whanlim Kim was elected as a non-executive independent director. The meeting also saw approval for a capital reserve reduction of KRW 70,000,000,000 according to Korean Commercial Code regulations. The board now consists of three non-executive independent directors.
International Game Technology (IGT) and DoubleDown Interactive (DDI) announced an agreement to settle the Benson v. DoubleDown Interactive lawsuit, pending court approval. The settlement involves a total payment of $415 million, with IGT's subsidiaries contributing $269.75 million and DDI $145.25 million. As part of the settlement, IGT will incur a $119.75 million non-operating expense in Q3, following a $150 million accrual in Q2. The settlement aims to resolve all related indemnification claims between IGT and DoubleDown.
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DoubleDown Interactive (NASDAQ: DDI) reported its Q2 2022 financial results, showing a 14% decrease in revenues to $80.6 million, down from $93.2 million in Q2 2021. Operating costs surged by 71% to $128.6 million, largely due to a $71.5 million non-cash accrual from ongoing legal proceedings. The company faced a net loss of $34.1 million, compared to a net income of $18.4 million in the previous year. Adjusted EBITDA dropped to $26.1 million, with a margin of 32.4%. Despite challenges, management remains optimistic about future growth and strategic M&A opportunities.
DoubleDown Interactive (NASDAQ: DDI) will hold its second quarter earnings conference call on August 9, 2022, at 5:00 p.m. ET. The financial results for the quarter ended June 30, 2022, will be released prior to the call. The event will include a management presentation followed by a Q&A session. Participants can register for the call using a provided link. Additionally, a webcast will be accessible on the company's Investor Relations page. A replay of the call will be available shortly after the event.