INSE Stock Price Correlated With Inspired Entertainment Financials
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Income Statement
Cash Flow
Balance Sheet
INSE Income Statement
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Revenue, Net:
Cost of Goods & Services Sold:
Gross Profit:
Selling, General & Admin Expense:
Research & Development Expense:
Total Operating Expenses:
Operating Income:
Income Taxes:
Net Income:
INSE Cash Flow
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Operating Activities Net Income:
Depreciation, Depletion & Amortization:
Change in Accounts Receiveable:
Net Cash from Operations:
Repurchases/Buybacks Common Stock:
Issuance of Long-term Debt:
Cash Dividends Paid:
Net Cash from Financing Activities:
Property, Plant & Equipment Purchases:
Purchases of Businesses, Net of Cash:
Net Cash from Investing Activities:
Net Change in Cash & Equivalents:
INSE Balance Sheet
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Cash and Cash Equivalents:
Short-Term Investments:
Accounts Receivable, Net:
Inventories:
Total Current Assets:
Property, Plant & Equipment, Net:
Total Assets:
Accounts Payable:
Current Portion of Long-Term Debt:
Total Short-Term Liabilities:
Long Term Debt, Non-Current Portion:
Total Long-Term Liabilities:
Total Liabilities:
COMPANY PROFILE
1.
Nature
of Operations, Management’s Plans and Summary of Significant Accounting Policies
Company
Description and Nature of Operations
We
are a global gaming technology company, supplying content, platform and other products and services to online and land-based regulated
lottery, betting and gaming operators worldwide through a broad range of distribution channels, predominantly on a business-to-business
basis. We provide end-to-end digital gaming solutions (i) on our own proprietary and secure network, which accommodates a wide range
of devices, including land-based gaming machine terminals, mobile devices and online computer applications and (ii) through third party
networks. Our content and other products can be found through the consumer-facing portals of our interactive customers and, through our
land-based customers, in licensed betting offices, adult gaming centers, pubs, bingo halls, airports, motorway service areas and leisure
parks.
The
Company was incorporated in Delaware on May 30, 2014 under the name Hydra Industries Acquisition Corp. (“Hydra”). We subsequently
changed our name from Hydra to Inspired Entertainment, Inc.
On
October 1, 2019, the Company completed the acquisition of the Gaming Technology Group of Novomatic UK Ltd., a division of Novomatic Group,
an international supplier of gaming equipment and solutions (the “NTG Acquisition”).
Management
Liquidity Plans
As
of December 31, 2021, the Company’s cash on hand was $ 47.8
million, and the Company had working capital of $ 44.9
million. The Company recorded net losses of $ 36.7
million, $ 32.4
million and $ 41.1
million for the year ended December 31, 2021,
2020 and 2019, respectively. Net losses include excess depreciation and amortization over capital expenditure of $ 21.4
million, $ 22.4
million and $ 14.5
million for the year ended December 31, 2021,
2020 and 2019, respectively, non-cash stock-based compensation of $ 13.0
million, $ 4.8
million and $ 9.0
million for the year ended December 31, 2021,
2020 and 2019, respectively, and non-cash changes in fair value of warrant liability of $ 0.9 ,
million gain and $ 3.2
million and $ 4.1
million losses for the year ended December 31,
2021, 2020, and 2019, respectively. Historically, the Company has generally had positive cash flows from operating activities and has
relied on a combination of cash flows provided by operations and the incurrence of debt and/or the refinancing of existing debt to fund
its obligations. Cash flows provided by operations amounted to $ 6.2
million, $ 52.9
million and $ 30.7
million for the year ended December 31, 2021,
2020 and 2019, respectively. Working capital of $ 44.9
million includes a non-cash settled item of $ 7.7
million of deferred income. Management currently
believes that, absent any long-term coronavirus (“COVID-19”) impact (see below), the Company’s cash balances on hand,
cash flows expected to be generated from operations, ability to control and defer capital projects and amounts available from the Company’s
external borrowings will be sufficient to fund the Company’s net cash requirements through March 2023.
On
March 11, 2020, the World Health Organization declared COVID-19 to be a global pandemic which affected our retail businesses throughout
2020. From mid-December 2020 to mid-April 2021, all retail venues were once again closed due to government-mandated shutdowns. Full restrictions
did not fall away in the United Kingdom until July 2021 and there remains an element of social distancing in venues in Greece and in
Italy.
It
remains uncertain as to whether and when further restrictions or closures could happen in each jurisdiction and how long they may last.
We continue to protect our existing available liquidity by pro-actively managing capital expenditures and working capital as well as
identifying both immediate and longer-term opportunities for cost savings.
INSPIRED
ENTERTAINMENT, INC. AND SUBSIDIARIES
NOTES
TO CONSOLIDATED FINANCIAL STATEMEN
Nature
of Operations, Management’s Plans and Summary of Significant Accounting Policies
Company
Description and Nature of Operations
We
are a global gaming technology company, supplying content, platform and other products and services to online and land-based regulated
lottery, betting and gaming operators worldwide through a broad range of distribution channels, predominantly on a business-to-business
basis. We provide end-to-end digital gaming solutions (i) on our own proprietary and secure network, which accommodates a wide range
of devices, including land-based gaming machine terminals, mobile devices and online computer applications and (ii) through third party
networks. Our content and other products can be found through the consumer-facing portals of our interactive customers and, through our
land-based customers, in licensed betting offices, adult gaming centers, pubs, bingo halls, airports, motorway service areas and leisure
parks.
The
Company was incorporated in Delaware on May 30, 2014 under the name Hydra Industries Acquisition Corp. (“Hydra”). We subsequently
changed our name from Hydra to Inspired Entertainment, Inc.
On
October 1, 2019, the Company completed the acquisition of the Gaming Technology Group of Novomatic UK Ltd., a division of Novomatic Group,
an international supplier of gaming equipment and solutions (the “NTG Acquisition”).
Management
Liquidity Plans
As
of December 31, 2021, the Company’s cash on hand was $ 47.8
million, and the Company had working capital of $ 44.9
million. The Company recorded net losses of $ 36.7
million, $ 32.4
million and $ 41.1
million for the year ended December 31, 2021,
2020 and 2019, respectively. Net losses include excess depreciation and amortization over capital expenditure of $ 21.4
million, $ 22.4
million and $ 14.5
million for the year ended December 31, 2021,
2020 and 2019, respectively, non-cash stock-based compensation of $ 13.0
million, $ 4.8
million and $ 9.0
million for the year ended December 31, 2021,
2020 and 2019, respectively, and non-cash changes in fair value of warrant liability of $ 0.9 ,
million gain and $ 3.2
million and $ 4.1
million losses for the year ended December 31,
2021, 2020, and 2019, respectively. Historically, the Company has generally had positive cash flows from operating activities and has
relied on a combination of cash flows provided by operations and the incurrence of debt and/or the refinancing of existing debt to fund
its obligations. Cash flows provided by operations amounted to $ 6.2
million, $ 52.9
million and $ 30.7
million for the year ended December 31, 2021,
2020 and 2019, respectively. Working capital of $ 44.9
million includes a non-cash settled item of $ 7.7
million of deferred income. Management currently
believes that, absent any long-term coronavirus (“COVID-19”) impact (see below), the Company’s cash balances on hand,
cash flows expected to be generated from operations, ability to control and defer capital projects and amounts available from the Company’s
external borrowings will be sufficient to fund the Company’s net cash requirements through March 2023.
On
March 11, 2020, the World Health Organization declared COVID-19 to be a global pandemic which affected our retail businesses throughout
2020. From mid-December 2020 to mid-April 2021, all retail venues were once again closed due to government-mandated shutdowns. Full restrictions
did not fall away in the United Kingdom until July 2021 and there remains an element of social distancing in venues in Greece and in
Italy.
It
remains uncertain as to whether and when further restrictions or closures could happen in each jurisdiction and how long they may last.
We continue to protect our existing available liquidity by pro-actively managing capital expenditures and working capital as well as
identifying both immediate and longer-term opportunities for cost savings.
INSPIRED
ENTERTAINMENT, INC. AND SUBSIDIARIES
NOTES
TO CONSOLIDATED FINANCIAL STATEMEN
Free historical financial statements for Inspired Entertainment Inc. See how revenue, income, cash flow, and balance sheet financials have changed over 26 quarters since 2017. Compare with INSE stock chart to see long term trends.
Data imported from Inspired Entertainment Inc SEC filings. Check original filings before making any investment decision.