PlayAGS reports first net profit since Q4 2019

AGS has reported $1

AGS has reported $1.5m inwards sack up income for Q2 2022, the 1st sack turn a profit since Q4 2019, and an increased familiarized Earnings Before Interest Taxes Depreciation and Amortization of 6%.

The companion generated $1.5m of network income for Q2 2022, compared to a network loss of $3.9m for the prior-year period. According to the supplier, the boost reflects improvements made in its operating performance.

Total adjusted Earnings Before Interest Taxes Depreciation and Amortization grew almost 6% year-on-year to $34.1m from $32.1m.

In terms of domestic sales of equipment, the keep company reported a tot of 858 domesticated EGM units sold inward Q2 2022, an increase of 40%.

AGS added that it sold units inward 26 US states and deuce Canadian River provinces.

Regarding international sales and installations, AGS installed 6,769 units, showing a decrease of 428 units and sold a add together of 76 EGM units in Q2 2022.

In addressing the company's second-quarter financial performance, AGS President and CEO Jacques Louis David Lopez said: "Our 2nd quarter results reflect the growing returns we are realizing as a termination of the substantial investments made into our R&D, sales, and production management teams o'er the past 24 months.

“These investments have accelerated the operating impulse we are seeing within the business, as reflected by the material year-over-year growth in our reported Q2 2022 nett revenues, sack up income and familiarized EBITDA."

Lopez continued: "Despite swirling uncertainty over the health of the consumer and the way of the planetary economy, we hold been encouraged by the incredible consistence demonstrated within our business sector through and through July.

"Ultimately, our recurring-revenue focussed business model and warm liquidity position fortify the underlying resiliency within our business."

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