SciPlay Corporation (NASDAQ:SCPL) Q2 2023 Earnings Conference Call August 8, 2023 5:30 PM ET
Company Participants
Robert Weiner - Vice President, Investor Relations
Josh Wilson - Chief Executive Officer
Daniel O'Quinn - Interim Chief Financial Officer
Operator
Hello and welcome to the SciPlay Second Quarter 2023 Conference Call. All participants are in listen-only mode. Please note, today's call is being recorded.
At this time, I'd like to hand the floor over to Rob Weiner, Vice President of Investor Relations. Please go ahead.
Robert Weiner
Good morning, everyone. This is Robert Weiner speaking. I am the Vice President of Investor Relations for SciPlay. Before we begin our formal remarks, please note that we will not be conducting a question-and-answer session due to Light & Wonder's proposal to acquire the company's outstanding shares, which it does not already own. During today's call, our team will discuss the 2023 second quarter financial results and operating performance. With me today are Josh Wilson, CEO; and Daniel O'Quinn, Interim CFO.
Our call today will contain remarks that include forward-looking statements under the Private Securities Litigation Reform Act of 1995. These statements involve certain risks and uncertainties that could cause actual results to differ materially from those discussed during the call. For more information regarding these risks and uncertainties, please refer to our earnings release issued yesterday and our filings with the SEC.
We will also discuss certain non-GAAP financial measures, including key performance indicators, which are based on in-app purchases only. A description of each non-GAAP measure and a reconciliation of each non-GAAP measure to the most directly comparable GAAP measure can be found in our earnings release as well as in the Investors section on our website.
As a reminder, this conference call is being recorded. A replay of this webcast will be archived in the Investors section of our website at sciplay.com.
Now, I'm pleased to turn the call over to Josh.
Josh Wilson
Good afternoon and thank you for joining us today. We are excited to share the latest update from SciPlay, so let's dive right in. For the sixth consecutive quarter SciPlay has outperformed the entire social casino market. Revenue grew $190 million up from $160 million in Q2 last year. This is a strong 19% year-over-year growth. It demonstrates the resilience of our games and the consistent engagement of our player base. We deliver great gaming and entertainment experiences to our customers. Thanks to our terrific SciPlay team. Net income was $41 million, an increase of 28% compared to last year's second quarter, AEBITDA performance was exceptional. We achieved 45% year-over-year growth reporting $59 million in AEBITDA in Q2 up from $41 million compared to last year's second quarter.