DoubleDown Interactive Co., Ltd. financial statements

Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data DoubleDown Interactive Co., Ltd. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2020	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	274	358	363	321	309	341	360
Cost of revenue					99.2	104	102
Gross profit					210	238	258
Research and development	19.2	18.8	18.5	18.2	19.1	13.9	12
Selling and marketing	35.8	71.2	78.8	71.9	49.6
General and administrative	17.2	21.7	19.1	20.1	22.1
Operating expenses	205	270	264	635	191
Operating income	68.3	88.8	98.7	-314	118	137	127
Interest expense	26.6	10.8	2.01	1.83	1.8	3.29	6.87
Interest income	0.52	0.2	0.21	4.99	13.7	29.2	19.7
Other non-operating income	-18.4	-13.6	1.88	8.71	13
Pre-tax income	49.9	75.2	101	-305	131	163	140
Income tax	13.5	21.6	22.5	-71.2	30.2	38.4	37.2
Net income to minority interests			0	0	0.04	0.33	0.16
Net income	36.3	53.6	78.1	-234	101	124	102
EBITDA	102	120	117	-310	119	140	133
EPS, basic	30.46	29.67	33.91	-94.43	40.72	50.09	41.37
EPS, diluted	21.87	26.20	33.91	-94.43	40.72	50.09	41.37
Shares, basic (weighted)	1.19	1.81	2.3	2.48	2.48
Shares, diluted (weighted)	2	2.15	2.3	2.48	2.48

Balance sheet

	FY2020	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	42.4	63.2	242	217	207	335	389
Short-term investments			0	67.9	67.8
Receivables	19.8	23.3	21.9	21.2	32.5	30.8	32
Other current assets	3.64	4.02	6.82	6.44	8.57
Total current assets	65.9	90.5	271	313	316	453	528
Property, plant and equipment	0.38	0.38	0.38	0.44	0.44	1.03	1.08
Lease right-of-use assets	12.4	9.99	6.83	3.86	7.13	4.31	4.27
Goodwill	634	634	634	379	397	396	427
Intangible assets	103	71.4	53.7	35.1	51.6	47.7	79.9
Other non-current assets	0.11	0.07	1.58	1.46	2.81
Total assets	815	807	970	792	803	906	1,041
Accounts payable	10.9	16.6	14.8	13.8	13.3	15	24.6
Deferred revenue	1.8	2.39	2.25	2.43	2.52
Short-term debt	34.5	0	0		38.8
Total current liabilities	50.5	25.6	20.8	116	68.5	23.4	68.1
Long-term debt	343	46	42.2	39.5	0
Lease liabilities	10.4	7.83	4.69	1.63	4.42	3.51	3.31
Other non-current liabilities	7.3	7.73	6.45	8.27	1.68
Total liabilities	435	107	106	166	75.5	64.1	90.2
Total debt	377	46	42.2	39.5	38.8
Paid-in capital	345	588	672	359	359	359	359
Retained earnings	16.1	69.7	148	226	327	472	575
Other comprehensive income	9.43	22.8	23	19.4	20
Shareholders' equity	381	700	864	626	728	842	950
Minority interests				0	0.16	0.12	0.19
Total equity	381	700	864	626	728	842	950
Total liabilities and equity	815	807	970	792	803	906	1,041
Shares outstanding		2.21	2.48	2.48	2.48

Cash flow statement

	FY2020	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	36.3	53.6	78.1	-234	101	124	103
Depreciation and amortization	33.4	31.6	17.9	3.8	0.73	3.29	6.14
Deferred income tax	2.71	4.42	5.98	-85	29.6
Change in receivables	-3.68	-4.1	1.64	-0.05	-11.4
Change in payables	-1.63	5.84	-2.05	-0.24	-1.95
Cash from operations	76.7	99.9	96.1	50.8	20.8	148	137
Capital expenditures	-0.2	-0.22	-0.21	-0.27	-0.2	-0.87	-0.19
Acquisitions	0	-1.95	0	0	-26.9
Purchases of investments	0	0	-1.54	-519	-146
Cash from investing	-0.2	-2.18	-1.81	-67.8	-30.3	-15.6	-81.7
Dividends paid					0	-0.31	-0.09
Cash from financing	-61.8	-76.3	86	0	0	-2.01	-1.35
Exchange rate effect	-3.22	-0.64	-1.47		-1.01	-2.88	0.33
Net change in cash	11.5	20.8	179	-24.7	-10.4
Free cash flow	76.5	99.6	95.9	50.5	20.6	148	137
Interest paid	9.78	5.89	0	0	0.13	11	0.28
Income taxes paid	10.2	12.5	18.8	16	0.53	12.8	27

Key metrics

Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $13.00 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	71.8%	Gross profit / revenue.
Operating margin	35.3%	Operating income / revenue.
EBITDA margin	37.0%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	38.8%	Pre-tax income / revenue.
Net margin	28.5%	Net income / revenue.
FCF margin	37.9%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	38.0%	Cash from operations / revenue.
Effective tax rate	26.6%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	11.4%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	10.5%	Net income / average total assets.
Return on invested capital (ROIC)	17.4%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	3.3%	Research and development expense / revenue.
Capex / revenue	0.1%	Capital expenditures / revenue.
D&A / revenue	1.7%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	5.5%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	3.9%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	0.1%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	8.7%	Gross profit vs the same period a year earlier. Only from a positive base.
Operating income growth, 1y	-7.3%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 5y	7.4%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-5.1%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 5y	2.0%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-17.4%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 5y	13.8%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-17.4%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 5y	9.6%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-7.9%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	39.1%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	6.5%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-7.5%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	39.3%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	6.5%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	12.9%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	14.9%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	6.3%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	14.8%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	9.5%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	5.2%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	7.74x	Current assets / current liabilities.
Quick ratio	6.18x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	5.71x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	8.7%	Total liabilities / total assets.
Interest coverage	18.5x	Operating income / interest expense.
Working capital	$459.4M	Current assets - current liabilities.
Goodwill and intangibles / assets	48.7%	(Goodwill + intangible assets) / total assets.
Tangible book value	$443.7M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.37x	Revenue / average total assets.
Fixed asset turnover	341x	Revenue / average property, plant and equipment.
Receivables turnover	11.5x	Revenue / average receivables.
Days sales outstanding	32 days	365 x average receivables / revenue.
Days payables	71 days	365 x average accounts payable / cost of revenue.
FCF conversion	133.3%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	0.1%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$41.37	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic	$41.37	Net income per basic share, as reported (split-adjusted).
Payout ratio	0.1%	Dividends paid / net income, when net income is positive.
Dividends / FCF	0.1%	Dividends paid / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$644.2M	Share price x shares outstanding.
Enterprise value	$255.3M	Market cap + total debt - cash - short-term investments.
P/E	6.28x	Market cap / net income. Only when net income is positive.
P/S	1.79x	Market cap / revenue.
P/B	0.68x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.45x	Market cap / tangible book value, when positive.
P/FCF	4.72x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	4.71x	Market cap / cash from operations, when positive.
EV/Sales	0.71x	Enterprise value / revenue.
EV/EBIT	2.01x	Enterprise value / operating income, when both are positive.
EV/EBITDA	1.92x	Enterprise value / EBITDA, when both are positive.
EV/FCF	1.87x	Enterprise value / free cash flow, when both are positive.
FCF yield	21.2%	Free cash flow / market cap.
Earnings yield	15.9%	Net income / market cap (the inverse of P/E).
Dividend yield	0.0%	Dividends paid over the period / market cap.
Shareholder yield	0.0%	(Dividends paid + share buybacks) / market cap.

What was DoubleDown Interactive Co., Ltd.'s revenue in fiscal 2025?

DoubleDown Interactive Co., Ltd. reported revenue of $359.9M for fiscal 2025, 5.5% higher than the year before.

Was DoubleDown Interactive Co., Ltd. profitable in fiscal 2025?

Yes. Net income was $102.5M, a net margin of 28.5%.

How much free cash flow did DoubleDown Interactive Co., Ltd. generate in fiscal 2025?

Cash from operations of $136.8M minus capital expenditures of $190.0K left free cash flow of $136.6M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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