Inspired Entertainment, Inc. (NASDAQ:INSE) Q2 2024 Results Conference Call August 2, 2024 8:00 AM ET
Company Participants
Lorne Weil - Executive Chairman
Brooks Pierce - CEO
Marilyn Jentzen - Interim-CFO
Eric Carrera - Corporate Finance Professional
Conference Call Participants
Barry Jonas - Truist Securities
Jordan Bender - Citizens JMP
Chad Beynon - Macquarie
Ryan Sigdahl - Craig-Hallum
Operator
Good morning, everyone, and welcome to the Inspired Entertainment Second Quarter 2024 Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers’ remark, we will have question-and-answer session. [Operator Instructions] Please note, today's event is being recorded.
Please refer to the Company's safe harbor statement that appears in the second quarter 2024 earnings press release which is also available in the Investors 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.
Lorne Weil
Good morning, and thanks for tuning in to our second quarter conference call. Joining me this morning are CEO, Brooks Pierce; CFO Marilyn Jentzen; and VP of Corporate Development, Eric Carrera. I'll start with an overview to try and frame how we're thinking about the second quarter. and then turn it over to Brooks to elaborate on a number of very interesting and exciting initiatives that will be driving growth in the second half of this year and beyond.
In our first quarter conference call, we shared that we thought our second quarter EBITDA would grow sequentially by at least 50% from the first quarter, and we ended up the quarter about 56.5% ahead, which I think is ahead of consensus as well and reflects the fact that pretty much all areas of the business are hitting on eight cylinders. The interactive business was once again the star of the show with revenue and EBITDA of 40% and 69%, respectively, ahead of Q2 2023, meaningfully outpacing the growth in the market.