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DDI

DoubleDown Interactive Co., Ltd.

DDI

DoubleDown Interactive Co., Ltd. • NASDAQ
$9.31 ▼ -0.43% (-0.04)
Market Cap $461.34 M
52w High $14.46
52w Low $8.09
Dividend Yield 0%
P/E 4.05
Volume 52.80K
Outstanding Shares 49.55M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $95.847M ▲ $32.972M ▲ $32.721M ▲ 34.139% ▲ $0.66 ▲ $37.517M ▲
Q2-2025 $84.813M ▲ $28.712M ▼ $21.842M ▼ 25.753% ▼ $0.44 ▼ $37.326M ▲
Q1-2025 $83.492M ▲ $29.736M ▲ $23.912M ▼ 28.64% ▼ $0.48 ▼ $35.355M ▼
Q4-2024 $81.97M ▼ $22.854M ▲ $35.578M ▲ 43.404% ▲ $0.73 ▲ $51.413M ▲
Q3-2024 $82.981M $22.845M $25.014M 30.144% $0.51 $37.293M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $439.194M ▼ $1.017B ▲ $91.16M ▲ $925.67M ▲
Q2-2025 $481.178M ▲ $971.184M ▲ $76.137M ▲ $894.831M ▲
Q1-2025 $455.736M ▲ $941.943M ▲ $74.463M ▲ $867.296M ▲
Q4-2024 $414.85M ▲ $906.164M ▲ $64.131M ▼ $841.915M ▲
Q3-2024 $372.651M $879.849M $64.241M $815.531M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $32.761M ▲ $33.357M ▲ $-61.933M ▼ $-300K ▲ $-29.081M ▼ $33.302M ▲
Q2-2025 $21.874M ▼ $19.66M ▼ $-7.781M ▲ $-341K ▼ $11.755M ▼ $19.661M ▼
Q1-2025 $23.912M ▼ $41.12M ▼ $-9.98M ▼ $-207K ▲ $30.814M ▼ $41M ▼
Q4-2024 $35.67M ▲ $47.318M ▲ $-454K ▲ $-1.691M ▼ $42.199M ▲ $46.731M ▲
Q3-2024 $25.115M $32.065M $-10.361M $-401K $23.495M $31.785M

Revenue by Products

Product Q2-2023Q4-2023
Mobile
Mobile
 $60.00M ▲$170.00M ▲
Web
Web
 $10.00M ▲$60.00M ▲

Five-Year Company Overview

Income Statement

Income Statement DoubleDown’s revenue has been fairly steady over the last several years, with a recent tilt back toward growth rather than decline. Profitability looks solid for a digital gaming business: gross margins are high and operating income has trended upward, suggesting good cost control and a scalable model. The sharp loss a few years ago stands out as an exceptional period, but earnings have clearly recovered since then and now sit comfortably in positive territory. Overall, the income statement tells the story of a mature, profitable core business that has largely moved past a one‑off downturn and is again generating healthy bottom‑line results.

Balance Sheet

Balance Sheet The balance sheet is a key strength. The company holds a large cash cushion relative to its size and only modest debt, which leaves it with net cash rather than net borrowings. Shareholders’ equity has grown over time, indicating that retained profits are building up rather than being eroded. This conservative financial structure gives DoubleDown flexibility to invest, acquire, or weather industry shocks without relying heavily on lenders. One consideration is that, as a gaming and digital content company, a meaningful portion of assets is likely tied up in intangibles from game development and acquisitions, which are less tangible than factories or real estate.

Cash Flow

Cash Flow Cash generation is healthy and appears to be improving. Operating cash flow dipped in the middle of the period but has since rebounded strongly, now comfortably covering the needs of the business. Free cash flow is very close to operating cash flow because capital spending is minimal, which is typical for an asset‑light, software‑driven model. This means a large share of accounting profit turns into actual cash, giving the company room to fund acquisitions, maintain a strong cash balance, or return capital if it chooses. The main risk is that cash flow still depends heavily on player engagement and in‑app spending, which can be volatile if user behavior or regulation shifts.

Competitive Edge

Competitive Edge DoubleDown competes in a crowded gaming arena but has carved out a defensible niche in social casino and is expanding into real‑money iGaming. Its long‑term content partnership with IGT and ties to DoubleU Games give it access to a library of recognizable, casino‑style games that are hard for new entrants to match. A long‑running flagship app and established player base create brand familiarity and switching costs: players who have invested time and money in the ecosystem are less likely to leave. The move into real‑money gaming and European markets adds new growth engines and diversifies away from a single segment. Key pressures remain intense competition from other gaming companies, app‑store dynamics, and regulatory scrutiny around gambling‑adjacent products.

Innovation and R&D

Innovation and R&D Innovation for DoubleDown is less about cutting‑edge hardware and more about content, data, and monetization design. The company continually refreshes its games with new features and meta‑game layers to keep players engaged, and it has successfully nudged up both spending per user and the share of users who pay. Data‑driven experimentation around events, rewards, and offers appears to be a core capability. On the business side, shifting more users into direct‑to‑consumer payment channels improves margins by reducing platform fees. Acquisitions such as SuprNation and WHOW Games also serve as a form of strategic R&D, adding new products, geographies, and teams—but they bring integration and execution risks if synergies are slower or harder to realize than planned.

Summary

Overall, DoubleDown looks like a financially solid digital gaming company with a profitable core social casino franchise and a growing presence in real‑money iGaming. Its income statement shows resilient revenues and margins, its balance sheet is cash‑rich with limited debt, and its cash flow is strong and capital‑light. Competitive advantages come from exclusive‑style content partnerships, a loyal user base, and a willingness to expand through targeted acquisitions. The main things to watch are integration of recent deals, ongoing user engagement and monetization trends, regulatory developments in gaming and gambling, and the company’s ability to continue refreshing its content and technology to stay relevant in a fast‑moving market.

NEWS

October 27, 2025 · 7:00 AM UTC

Doubledown Interactive to Report 2025 Third Quarter Results on November 10 and Host Conference Call and Webcast

Read more