Inspired Entertainment Inc
For the period ended Sep 30, 2024. Filed Nov 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 7, 2024
INSE$4.65+17.0%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Cash Flows
(in millions)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net (loss) income | $(0.3) | $7.6 |
| Adjustments to reconcile net loss to net cash provided by operating activities: | ||
| Depreciation and amortization | 31.8 | 29.8 |
| Amortization of right of use asset | 3.3 | 2.8 |
| Stock-based compensation expense | 5.7 | 9.3 |
| Reclassification of loss on hedging instrument to comprehensive income | — | 0.5 |
| Non-cash interest expense relating to senior debt | 0.7 | 1.0 |
| Changes in assets and liabilities: | ||
| Accounts receivable | (4.4) | 11.7 |
| Inventory | 2.3 | (9.4) |
| Prepaid expenses and other assets | (3.0) | (5.0) |
| Corporate tax and other current taxes payable | (4.0) | (9.6) |
| Accounts payable and accrued expenses | (7.9) | 4.6 |
| Deferred revenue and customer prepayment | 3.9 | 2.9 |
| Operating lease liabilities | (3.1) | (2.8) |
| Other long-term liabilities | (0.2) | (0.4) |
| Net cash provided by operating activities | 24.8 | 43.0 |
| Cash flows from investing activities: | ||
| Purchases of property and equipment | (11.7) | (20.1) |
| Acquisition of third-party company trade and assets | — | (0.6) |
| Purchases of capital software and internally developed costs | (9.2) | (11.0) |
| Contract cost expense | (8.6) | (7.7) |
| Net cash used in investing activities | (29.5) | (39.4) |
| Cash flows from financing activities: | ||
| Repurchase of common stock | — | (1.6) |
| Repayments of finance leases | (0.4) | (1.0) |
| Net cash used in financing activities | (0.4) | (2.6) |
| Effect of exchange rate changes on cash | 1.6 | 0.4 |
| Net (decrease) increase in cash | (3.5) | 1.4 |
| Cash, beginning of period | 40.0 | 25.0 |
| Cash and restricted cash, end of period | $36.5 | $26.4 |
| Components of cash and restricted cash | ||
| Cash | 35.7 | 26.4 |
| Restricted cash | 0.8 | - |
| Total cash and restricted cash, end of period | $36.5 | $26.4 |
| Supplemental cash flow disclosures | ||
| Cash paid during the period for interest | $12.8 | $12.1 |
| Cash paid during the period for income taxes | $2.5 | $4.8 |
| Cash paid during the period for operating leases | $7.2 | $4.9 |
| Supplemental disclosure of non-cash investing and financing activities | ||
| Lease liabilities arising from obtaining right of use assets | $(6.4) | $(0.4) |
| Property and equipment acquired through finance lease | $21.9 | $1.2 |
| Additional paid in capital from net settlement of RSUs | $(0.8) | $(1.3) |
NOTES TO THE CONDENSED FINANCIAL STATEMENTS (UNAUDITED)
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