The company registered record quarterly revenue of $72.8 m (a 45% year-over-year growth), net loss of $5.3 m (a 74% year-over-year improvement) and record total adjusted EBITDA (non-GAAP) of $36.6 m (a 40% year-over-year growth). Figures also show record recurring revenue of $52.6 m (a 26% year-over-year rise) and 84% year-over-year growth in EGM units sales.
PlayAGS, Inc. today reported operating results for its second quarter 2018.
"AGS grew both the top and bottom line by more than 40% in the second quarter, marking the most successful quarter in our company's history. Our strong results reflect record highs in our EGM and Tables Products revenue, average selling prices, revenue per day, and recurring revenue. We continue to reap the benefits of our Orion and Bonus Spin product launches, our steady ramp into key markets like Nevada, California and New Jersey, and strong performance from both our optimized and new product footprint."
"In addition to a strong pipeline of new product launches and our initial entry into markets such as Canada to accelerate our growth, our recent acquisition of content-aggregator Gameiom creates a new channel to exploit our industry-leading game content in online real-money gaming markets. Because of the potential upside from these exciting opportunities in our EGM business and our strong first half of the year, we are raising our Adjusted EBITDA guidance to reflect a new range of $132 million to $136 million."