DoubleDown Interactive Co., Ltd. announced its unaudited financial results for the third quarter ended September 30, 2024, reporting consolidated revenue of $83.0 million, a 14% increase from $73.0 million in the third quarter of 2023. Revenue from social casino operations, exclusive of SuprNation, increased 3% year-over-year to $75.2 million, marking the fourth consecutive quarter of year-over-year growth in this segment.
The company's Adjusted EBITDA for Q3 2024 rose 22% to $36.1 million, compared to $29.7 million in the same period last year. Net income for the quarter was $25.1 million, or $0.51 per ADS, a decrease from $26.9 million, or $0.54 per ADS, in Q3 2023, primarily due to a loss on foreign currency translation and higher general and administrative expenses related to SuprNation.
DoubleDown generated $31.8 million in operating cash flow during the third quarter of 2024, an increase from $28.7 million in Q3 2023, representing its third consecutive quarter exceeding $30 million. The company maintained a net cash position of approximately $335 million, equivalent to $6.76 per ADS, providing financial flexibility for future growth opportunities.
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