Inspired Entertainment, Inc. (NASDAQ:INSE) Q4 2023 Earnings Conference Call April 15, 2024 9:00 AM ET
Company Participants
Lorne Weil - Executive Chairman
Brooks Pierce - President and Chief Executive Officer
Conference Call Participants
David Bain - B. Riley
Chad Beynon - Macquarie
Ryan Sigdahl - Craig-Hallum Capital Group
Operator
Good morning everyone, and welcome to the Inspired Entertainment Fourth Quarter 2023 Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be a question-and-answer session. [Operator Instructions] Please note that today's event is being recorded. Please refer to the company's Safe Harbor Statement that appears in the fourth quarter 2023 earnings press release, which is also available in the Investor section of the company's website at www.inseinc.com. This Safe Harbor Statement also applies to today's conference call, as the company's management will be making certain statements that will be considered forward-looking under securities laws and rules of the SEC.
These statements are based on management's current expectations or beliefs and are subject to risks, uncertainties, and changes in circumstances. In addition, please note that the company will discuss both GAAP and non-GAAP financial measures. A reconciliation is included in the earnings press release.
With that completed, I would now like to turn the conference call over to Lorne Weil, the company's Executive Chairman. Mr. Weil, please go ahead.
Lorne Weil
Thank you, operator. Good morning, everybody. Thanks for joining the fourth quarter conference call. With us this morning are our CEO, Brooks Pierce, Interim CFO, Marilyn Jentzen, and VP of Corporate Development, Eric Carrera. Brooks as usual will make prepared remarks and Marilyn and Eric are available to answer your questions when we get to the Q&A section. Since it's only been a few weeks since our last call, there's not a lot new to report and accordingly I'll make my remarks fairly brief. In a moment Brooks will talk in some depth about the key developments that will be driving our progress over the balance of the year.
Fourth quarter EBITDA of $26.5 million was in-line with previous consensus and modestly ahead of 2022, as was full year EBITDA of $100.5 million. Full year EBITDA from our overall digital business comprising the virtual sports and interactive segments grew by 12% from $56.2 million in 2022 to $63.1 million in 2023, while maintaining EBITDA margins of 75% from year-to-year, no small feat given the competitive environment that we participate in.