Inspired Entertainment, Inc. Files 2023 Annual Report on Form 10-K

AI Summary

Inspired Entertainment, Inc. (INSE) filed a Annual Report (10-K) with the SEC on April 15, 2024. Inspired Entertainment, Inc. filed its 2023 Annual Report on Form 10-K on April 15, 2024. The report covers the fiscal year ending December 31, 2023. The company was formerly known as Hydra Industries Acquisition Corp. and changed its name on July 28, 2014. Inspired Entertainment, Inc. is incorporated in Delaware. The company's primary business address is 250 West 57th Street, Suite 415, New York, NY 10107.

Why It Matters

For investors and stakeholders tracking Inspired Entertainment, Inc., this filing contains several important signals. This filing provides a comprehensive overview of Inspired Entertainment's financial health, operational performance, and strategic direction for the past fiscal year, crucial for investors and stakeholders to assess the company's current standing and future prospects. As a 10-K filing, it contains audited financial statements and management's discussion and analysis, offering detailed insights into revenue, expenses, assets, liabilities, and any significant risks or uncertainties the company faces.

Risk Assessment

Risk Level: medium — Inspired Entertainment, Inc. shows moderate risk based on this filing. The filing is a standard annual report (10-K), which typically contains a broad range of information. Specific risks and their impact are detailed within the report itself, requiring further analysis to determine the precise risk level.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand Inspired Entertainment's performance and potential challenges for the upcoming year.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period)
• 2024-04-15 — Filing Date (Date of submission)
• 0001493152-24-014609 — Accession Number (Unique identifier for the filing)
• 148 — Public Document Count (Number of documents in the filing)

Key Players & Entities

• Inspired Entertainment, Inc. (company) — Filer name
• Hydra Industries Acquisition Corp. (company) — Former company name
• 2024-04-15 (date) — Filing date
• 2023-12-31 (date) — Fiscal year end
• 2014-07-28 (date) — Date of name change
• 250 West 57th Street, Suite 415 (address) — Business address
• New York, NY 10107 (address) — Business address
• 1934 Act (regulation) — SEC Act

FAQ

Industry Context

Inspired Entertainment operates within the gaming and lottery technology sector, providing digital gaming solutions and services.

Regulatory Implications

The filing adheres to the requirements of the Securities Exchange Act of 1934, specifically the 10-K annual report form, mandated by the U.S. Securities and Exchange Commission (SEC).

What Investors Should Do

1. Analyze the financial statements for revenue trends, profitability, and balance sheet health.
2. Identify and assess the key risk factors disclosed by management.
3. Compare the company's performance and disclosures to previous filings and industry peers.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-04-15: Filing Date — Date the 10-K was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial filing analyzed for the current period. Comparative data from the previous year's 10-K would be needed for a direct comparison.

Key Financial Figures

• $0.0001 — ch registered Common Stock, par value $0.0001 per share INSE The Nasdaq Stock Mar
• $323.0 million — ull-time. We generated total revenue of $323.0 million and Adjusted earnings before interest,
• $100.5 million — and amortization ("Adjusted EBITDA") of $100.5 million for the year ended December 31, 2023.
• $259.0 million — market capitalization of approximately $259.0 million as of December 31, 2023 (based upon a c
• $9.88 — 23 (based upon a closing stock price of $9.88 on December 29, 2023). Certain produc
• $142.6 million — enerated revenue and Adjusted EBITDA of $142.6 million and $44.5 million, respectively, as com
• $44.5 m — d Adjusted EBITDA of $142.6 million and $44.5 million, respectively, as compared to the
• $111.3 million — ber 31, 2022, during which we generated $111.3 million and $43.7 million in revenue and Adjust
• $43.7 million — g which we generated $111.3 million and $43.7 million in revenue and Adjusted EBITDA, respect
• $56.2 million — enerated revenue and Adjusted EBITDA of $56.2 million and $47.7 million, respectively, as com
• $47.7 m — nd Adjusted EBITDA of $56.2 million and $47.7 million, respectively, as compared to the
• $54.2 million — mber 31 2022, during which we generated $54.2 million and $44.9 million in revenue and Adjust
• $44.9 million — ng which we generated $54.2 million and $44.9 million in revenue and Adjusted EBITDA, respect
• $27.9 million — enerated revenue and Adjusted EBITDA of $27.9 million and $15.4 million, respectively. With o
• $15.4 m — nd Adjusted EBITDA of $27.9 million and $15.4 million, respectively. With our participa

Filing Documents

• form10-k.htm (10-K) — 3931KB
• ex10-10.htm (EX-10.10) — 32KB
• ex10-19.htm (EX-10.19) — 42KB
• ex10-26.htm (EX-10.26) — 35KB
• ex10-28.htm (EX-10.28) — 27KB
• ex21-1.htm (EX-21.1) — 17KB
• ex23-1.htm (EX-23.1) — 5KB
• ex31-1.htm (EX-31.1) — 13KB
• ex31-2.htm (EX-31.2) — 13KB
• ex32-1.htm (EX-32.1) — 8KB
• ex32-2.htm (EX-32.2) — 8KB
• ex97-1.htm (EX-97.1) — 25KB
• form10-k_001.jpg (GRAPHIC) — 15KB
• ex10-19_001.jpg (GRAPHIC) — 10KB
• 0001493152-24-014609.txt ( ) — 16356KB
• inse-20231231.xsd (EX-101.SCH) — 96KB
• inse-20231231_cal.xml (EX-101.CAL) — 138KB
• inse-20231231_def.xml (EX-101.DEF) — 331KB
• inse-20231231_lab.xml (EX-101.LAB) — 720KB
• inse-20231231_pre.xml (EX-101.PRE) — 556KB
• form10-k_htm.xml (XML) — 3364KB

Business

Business 1 ITEM 1A. Risk Factors 15 ITEM 1B. Unresolved Staff Comments 36 ITEM 1C. Cybersecurity 36 ITEM 2.

Properties

Properties 37 ITEM 3. Legal Proceedings 37 ITEM 4. Mine Safety Disclosures 37 PART II ITEM 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 37 ITEM 6. Reserved 38 ITEM 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 38 ITEM 7A. Quantitative and Qualitative Disclosures About Market Risk 64 ITEM 8. Financial F-1 ITEM 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 65 ITEM 9A. Controls and Procedures 65 ITEM 9B. Other Information 68 ITEM 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 68 PART III ITEM 10. Directors, Executive Officers and Corporate Governance 69 ITEM 11. Executive Compensation 69 ITEM 12. Security 69 ITEM 13. Certain Relationships and Related Transactions, and Director Independence 69 ITEM 14. Principal Accountant Fees and Services 69 PART IV ITEM 15. Exhibit and Financial Statement Schedules 69 ITEM 16. Form 10-K Summary 73

SIGNATURES

SIGNATURES 74 i CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS Certain Financial Condition and Results of Operations" and elsewhere herein, may relate to future events and expectations, and as such constitute "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and Section 27A of the Securities Act of 1933, as amended (the "Securities Act"). Our forward-looking future operations, results, financial condition, beliefs and intentions. In addition, any statements that refer to projections, forecasts or other characterizations or predictions of future events or circumstances, including any underlying assumptions on which such statements are expressly or implicitly based, are forward-looking statements. The words "anticipate," "believe," "continue," "can," "could," "estimate," "expect," "intend," "may," "might," "plan," "possible," "potential," "predict," "project," "scheduled," "seek," "should," "would" and similar expressions, among others, and negatives expressions including such words, may identify forward-looking statements. Our forward-looking statements reflect our current expectations about our future results, performance, liquidity, financial condition, prospects and opportunities, and are based upon information currently available to us, our interpretation of what we believe to be significant factors affecting our business and many assumptions regarding future events. Actual results, performance, liquidity, financial condition, prospects and opportunities could differ materially from those expressed in, or implied by, our forward-looking statements. This could occur as a

View Full Filing

View this 10-K filing on SEC EDGAR