Inspired Entertainment (INSE) financial statements
Inspired Entertainment reported revenue of $304M in fiscal 2025, up 10.6% a year over 9 years.
Net income was -$17M and the operating margin 10.0%, against -9.7% in 2017.
Free cash flow was $6M, and the company returned $400,000 in net buybacks.
The diluted share count rose 59% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Inspired Entertainment's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $123M | $141M | — | $153M | $198M | $206M | $284M | $323M | $297M | $304M |
| Cost of revenue | $11M | $23M | — | $25M | $46M | $52M | $95M | $129M | — | — |
| Gross profit | $112M | $119M | — | $128M | $152M | $154M | $190M | $194M | — | — |
| Research and development | $5M | $5M | — | $4M | $15M | $14M | $18M | $20M | $23M | $19M |
| Selling, general and admin | $58M | $60M | — | $73M | $90M | $77M | $91M | $104M | $131M | $128M |
| Operating income | -$12M | -$7M | — | -$13M | -$18M | -$4M | $46M | $39M | $31M | $30M |
| Interest expense | $29M | $21M | — | $28M | $30M | $44M | $25M | $28M | $29M | $37M |
| Pre-tax income | -$49M | $14M | — | -$41M | -$56M | -$42M | $23M | $12M | $2M | -$6M |
| Income tax | $184,000 | -$200,000 | — | $100,000 | $400,000 | -$2M | $2M | $5M | -$63M | $11M |
| Net income | -$49M | $13M | -$21M | -$41M | -$57M | -$41M | $21M | $7M | $65M | -$17M |
| EPS (diluted) | -$2.68 | $0.59 | — | -$1.88 | -$2.39 | -$1.66 | $0.73 | $0.24 | $2.22 | -$0.58 |
| Diluted shares | 18M | 23M | — | 22M | 24M | 24M | 29M | 29M | 29M | 29M |
| Gross margin | 91.2% | 84.0% | — | 83.4% | 76.9% | 74.8% | 66.6% | 60.2% | — | — |
| Operating margin | -9.7% | -5.2% | — | -8.5% | -9.1% | -2.2% | 16.3% | 12.0% | 10.3% | 10.0% |
| Net margin | -40.1% | 9.4% | — | -26.8% | -28.6% | -19.7% | 7.5% | 2.1% | 21.8% | -5.6% |
Balance sheet
Fiscal years, from Inspired Entertainment's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $20M | $22M | $30M | $29M | $47M | $48M | $25M | $40M | $29M | $42M |
| Receivables | $20M | $14M | $10M | $24M | $28M | $32M | $40M | $44M | $65M | $44M |
| Inventory | $5M | $5M | $5M | $19M | $18M | $16M | $30M | $32M | $28M | $18M |
| Total current assets | $63M | $59M | $58M | $95M | $109M | $124M | $129M | $156M | $160M | $158M |
| Property, plant and equipment | $43M | $46M | $28M | $79M | $66M | $51M | $44M | $61M | $56M | $60M |
| Goodwill | $47M | $46M | $43M | $81M | $63M | $62M | $56M | $59M | $58M | $62M |
| Total assets | $219M | $208M | $14M | $327M | $324M | $309M | $290M | $343M | $438M | $440M |
| Total current liabilities | $61M | $64M | $51M | $88M | $95M | $82M | $75M | $101M | $104M | $71M |
| Long-term debt | $115M | $131M | $133M | $270M | $298M | $309M | $278M | $296M | $292M | $345M |
| Total liabilities | $221M | $232M | $207M | $387M | $426M | $417M | $373M | $419M | $442M | $456M |
| Shareholders' equity | -$48M | -$24M | -$32M | -$62M | -$129M | -$106M | -$83M | -$76M | -$3M | -$16M |
| Net debt | $103M | $109M | $112M | $244M | $250M | $261M | $253M | $275M | $282M | $303M |
Cash flow
Fiscal years, from Inspired Entertainment's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $18M | $34M | — | $31M | $48M | $2M | $30M | $55M | $32M | $52M |
| Capital spending | $35M | $43M | — | $28M | $24M | $20M | $31M | $47M | $29M | $46M |
| Free cash flow | -$17M | -$9M | — | $3M | $24M | -$18M | -$1M | $8M | $3M | $6M |
| Stock-based compensation | $4M | $7M | — | $9M | $5M | $13M | $11M | $11M | $8M | $7M |
| Share buybacks (net) | — | — | — | — | — | — | -$10M | -$2M | — | -$400,000 |
| Net borrowing | -$3M | $16M | — | $126M | -$4M | $12M | — | — | — | $27M |
| Free cash flow margin | -14.0% | -6.2% | — | 2.1% | 12.2% | -8.6% | -0.5% | 2.5% | 1.0% | 2.1% |
Questions
What was Inspired Entertainment's revenue in 2025?
$304M in fiscal 2025, from its 10-K filing.
How much free cash flow does Inspired Entertainment generate?
$6M in fiscal 2025 (operating cash flow minus capital spending).
From Inspired Entertainment's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.