Everi Clocks 51% Top-Line Growth In Q4 Steered By High Gaming Sales

Everi Holdings Inc EVRI reported fourth-quarter FY21 sales growth of 51% year-on-year, to $180.4 million, beating the consensus of $167.48 million.
Revenues from the Gaming segment rose 62.4% Y/Y to $105.4 million, and Financial Technology Solutions grew 37.4% to $75 million.
Costs and expenses climbed 29.4% Y/Y to $132.5 million.
The operating margin was 26.5%, and operating income for the quarter rose 180% to $47.9 million.
Adjusted EBITDA increased 45% Y/Y to $88.8 million. EPS was $0.88.
The company held $303.7 million in cash and equivalents as of December 31, 2021.
Outlook: Everi sees FY22 operating income growth of 8% - 13%, and adjusted EBITDA to increase 6% - 8% to $368 million - $376 million.
The company also expects broad-based revenue growth across its operations.
Price Action: EVRI shares closed lower by 2.17% at $23.40 on Monday.