What is Inspired Entertainment's operating income?

Inspired Entertainment's total operating income in 2025 was $30.50 million, based on the following breakdown: Total Gross Profit: $217.60 million Total Operating Expenses: $187.20 million

Inspired Entertainment (INSE) Financials

$7.88 0.00 (0.00%)

Closing price 07/2/2026 04:00 PM Eastern

Extended Trading

$7.86 -0.01 (-0.19%)

As of 07/2/2026 06:23 PM Eastern

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Annual Income Statements for Inspired Entertainment

This table shows Inspired Entertainment's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	9/24/2016	9/30/2017	9/30/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-3.53	-60	-49	14	84	-62	-41	10	-4.30	65	-24
Consolidated Net Income / (Loss)	-3.53	-60	-49	13	-41	-57	-41	21	6.90	65	-17
Net Income / (Loss) Continuing Operations	-3.52	-60	-49	14	84	-62	-41	10	-4.30	65	-24
Total Pre-Tax Income	-3.52	-60	-49	14	-41	-56	-42	23	12	1.80	-5.90
Total Operating Income	-3.53	-1.28	-12	-7.30	-13	-18	-4.50	47	39	31	31
Total Gross Profit	0.00	99	96	111	281	137	136	190	194	205	218
Total Revenue	0.00	120	123	141	307	198	206	285	323	297	304
Operating Revenue	-	120	123	141	307	198	206	285	323	297	304
Total Cost of Revenue	0.00	20	27	31	25	61	70	95	129	92	87
Operating Cost of Revenue	-	20	27	31	25	61	70	95	129	92	87
Total Operating Expenses	3.53	101	108	118	141	160	141	154	167	174	187
Selling, General & Admin Expense	-	61	58	60	79	77	90	114	127	131	135
Depreciation Expense	-	35	34	42	42	54	49	40	40	43	52
Total Other Income / (Expense), net	0.01	-58	-37	21	-56	-38	-38	-23	-27	-29	-43
Interest Expense	-0.01	58	29	21	28	30	44	25	27	29	37
Interest & Investment Income	-	0.29	0.06	0.20	-	-0.50	-	-	-	-	-6.60
Other Income / (Expense), net	-	-0.25	-7.73	41	-28	-7.90	6.60	2.00	0.40	0.50	0.90
Income Tax Expense	-	0.31	0.18	0.20	0.10	0.40	-1.60	2.10	5.00	-63	11
Basic Earnings per Share	($1.27)	($5.11)	($2.68)	$0.64	($1.88)	($2.39)	($1.66)	$0.76	$0.25	$2.27	($0.58)
Weighted Average Basic Shares Outstanding	10M	11.72M	18.30M	20.75M	21.89M	23.72M	24.40M	28.05M	28.07M	28.52M	29.06M
Diluted Earnings per Share	($1.27)	($5.11)	($2.68)	$0.59	($1.88)	($2.39)	($1.66)	$0.73	$0.24	$2.22	($0.58)
Weighted Average Diluted Shares Outstanding	10M	11.72M	18.30M	22.55M	21.89M	23.72M	24.40M	29.09M	29.21M	29.20M	29.06M
Weighted Average Basic & Diluted Shares Outstanding	2.79M	11.72M	18.30M	20.75M	21.89M	23.22M	26.88M	26.25M	-	26.90M	27.06M

This table shows Inspired Entertainment's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	3.40	-12	-6.40	1.40	2.80	65	-0.10	-7.80	-1.90	-14	-0.50
Consolidated Net Income / (Loss)	3.40	-0.70	-6.40	1.40	2.80	65	-0.10	-7.80	-1.90	-7.20	-0.50
Net Income / (Loss) Continuing Operations	3.40	-12	-6.40	1.40	2.80	65	-0.10	-7.80	-1.90	-14	-0.50
Total Pre-Tax Income	5.40	1.50	-8.50	2.20	3.80	2.50	-5.20	1.00	-2.60	0.90	-1.20
Total Operating Income	12	8.30	-2.10	8.70	11	11	1.60	7.90	9.70	11	9.20
Total Gross Profit	49	51	42	50	54	57	43	55	61	60	46
Total Revenue	98	81	62	75	77	80	60	80	86	77	57
Operating Revenue	98	81	62	75	77	80	60	80	86	77	57
Total Cost of Revenue	48	30	20	25	23	24	18	25	26	18	11
Operating Cost of Revenue	48	30	20	25	23	24	18	25	26	18	11
Total Operating Expenses	37	54	44	41	43	46	41	47	51	48	37
Selling, General & Admin Expense	27	44	34	31	31	34	30	32	32	41	24
Depreciation Expense	10	9.80	9.80	11	11	12	11	15	13	13	13
Total Other Income / (Expense), net	-6.80	-6.80	-6.40	-6.50	-7.40	-8.30	-6.80	-6.90	-12	-17	-10
Interest Expense	6.90	6.90	6.50	6.60	7.50	8.50	7.00	7.10	13	11	11
Other Income / (Expense), net	0.10	0.10	0.10	0.10	0.10	0.20	0.20	0.20	0.20	0.30	0.10
Income Tax Expense	2.00	2.20	-2.10	0.80	1.00	-63	-5.10	8.80	-0.70	8.10	-0.70
Basic Earnings per Share	$0.12	($0.02)	($0.22)	$0.05	$0.10	$2.28	$0.00	($0.27)	($0.07)	($0.24)	($0.02)
Weighted Average Basic Shares Outstanding	28.10M	28.07M	28.60M	28.47M	28.50M	28.52M	28.97M	29.08M	29.09M	29.06M	29.29M
Diluted Earnings per Share	$0.12	($0.02)	($0.22)	$0.05	$0.10	$2.23	$0.00	($0.27)	($0.07)	($0.24)	($0.02)
Weighted Average Diluted Shares Outstanding	29.11M	29.21M	28.60M	29.05M	29.19M	29.20M	28.97M	29.08M	29.09M	29.06M	29.29M
Weighted Average Basic & Diluted Shares Outstanding	-	0.00	26.57M	26.57M	26.58M	26.90M	26.91M	26.92M	26.93M	27.06M	26.68M

This table details how cash moves in and out of Inspired Entertainment's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	9/24/2016	9/30/2017	9/30/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-0.87	-2.57	19	2.50	13	18	0.70	-23	15	-11	14
Net Cash From Operating Activities	-0.87	19	18	34	31	48	2.40	30	55	32	52
Net Cash From Continuing Operating Activities	-0.87	19	18	90	31	48	2.40	30	55	32	52
Net Income / (Loss) Continuing Operations	-3.53	-60	-49	13	-41	-57	-41	21	6.90	65	-17
Consolidated Net Income / (Loss)	-3.53	-60	-49	13	-41	-57	-41	21	6.90	65	-17
Depreciation Expense	-	35	34	42	42	54	49	40	40	43	47
Amortization Expense	-	1.33	1.19	0.00	1.00	4.50	4.50	5.30	5.80	5.50	14
Non-Cash Adjustments To Reconcile Net Income	-0.00	45	29	58	22	33	20	11	12	7.60	13
Changes in Operating Assets and Liabilities, net	2.66	-2.36	3.75	-23	7.20	13	-30	-47	-9.10	-90	-4.40
Net Cash From Investing Activities	0.00	-32	-35	-43	-133	-24	-32	-38	-58	-40	-41
Net Cash From Continuing Investing Activities	0.00	-32	-35	-43	-133	-24	-32	-38	-58	-40	-41
Purchase of Property, Plant & Equipment	-	-32	-35	-43	-28	-24	-20	-31	-47	-29	-46
Acquisitions	-	-	-	-	-106	0.00	-12	-0.60	-0.60	0.00	18
Other Investing Activities, net	-	-	-	-	-	-	-	-7.20	-10	-11	-13
Net Cash From Financing Activities	-0.00	11	35	11	114	-8.20	31	-11	16	-1.60	0.00
Net Cash From Continuing Financing Activities	-0.00	11	35	11	114	-8.20	31	-11	16	-1.60	0.00
Repayment of Debt	-0.00	-0.15	-3.20	-129	-159	-8.20	-332	-0.60	-1.10	-1.60	-365
Repurchase of Common Equity	-	-	-	-	-	0.00	0.00	-10	-1.60	0.00	-0.40
Issuance of Debt	0.00	11	0.00	140	273	0.00	333	0.00	19	0.00	366
Effect of Exchange Rate Changes	-	-0.37	1.12	-	2.30	2.10	-0.50	-3.90	1.70	-0.70	2.50
Cash Interest Paid	-	12	11	17	13	13	31	23	24	27	37
Cash Income Taxes Paid	0.01	0.10	0.36	0.00	0.00	0.20	1.20	0.00	5.00	9.20	7.50

This table details how cash moves in and out of Inspired Entertainment's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-16	14	-4.70	-12	13	-7.20	9.70	7.30	-10	7.00	-1.00
Net Cash From Operating Activities	11	12	6.00	-2.40	21	6.90	26	15	10	1.20	27
Net Cash From Continuing Operating Activities	11	12	6.00	-2.40	21	6.90	26	15	10	1.20	27
Net Income / (Loss) Continuing Operations	3.40	-0.70	-6.40	1.40	2.80	65	-0.10	-7.80	-1.90	-7.20	-0.50
Consolidated Net Income / (Loss)	3.40	-0.70	-6.40	1.40	2.80	65	-0.10	-7.80	-1.90	-7.20	-0.50
Depreciation Expense	10	9.80	9.80	10	11	12	9.70	11	12	14	11
Amortization Expense	0.90	3.00	1.30	1.30	1.40	2.20	2.20	6.10	4.00	1.30	2.90
Non-Cash Adjustments To Reconcile Net Income	8.70	0.70	2.30	1.60	1.80	1.20	1.40	1.80	7.30	2.80	1.40
Changes in Operating Assets and Liabilities, net	-13	-1.10	-1.00	-17	4.10	-73	12	4.30	-11	-9.90	12
Net Cash From Investing Activities	-23	-18	-10	-9.10	-10	-11	-15	-16	-11	1.70	-10
Net Cash From Continuing Investing Activities	-23	-18	-10	-9.10	-10	-11	-15	-16	-11	1.70	-10
Purchase of Property, Plant & Equipment	-16	-16	-7.70	-5.80	-7.40	-7.90	-11	-12	-8.70	-13	-7.10
Other Investing Activities, net	-	-2.60	-2.40	-3.30	-2.90	-2.70	-3.80	-3.90	-2.30	-3.00	-3.00
Net Cash From Financing Activities	-1.80	19	-0.20	-0.30	0.10	-1.20	-1.70	5.80	-0.70	-3.40	-17
Net Cash From Continuing Financing Activities	-1.80	19	-0.20	-0.30	0.10	-1.20	-1.70	5.80	-0.70	-3.40	-17
Repayment of Debt	-0.30	-0.10	-0.20	-0.30	0.10	-1.20	-1.70	-360	-0.70	-3.00	-14
Repurchase of Common Equity	-1.50	-	-	-	-	-	0.00	-	-	-	-2.60
Effect of Exchange Rate Changes	-1.00	1.30	-0.40	-	2.00	-2.30	1.00	2.40	-0.80	-0.10	-0.90
Cash Interest Paid	0.20	12	0.10	13	-	14	1.20	16	-0.10	19	0.90
Cash Income Taxes Paid	0.30	0.20	0.00	1.40	1.10	-	0.70	5.70	3.00	-1.90	1.70

This table presents Inspired Entertainment's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2014	12/31/2015	9/30/2017	9/30/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	81	80	219	208	327	324	309	287	343	438	440
Total Current Assets	1.29	0.32	63	59	95	109	124	127	156	160	158
Cash & Equivalents	1.12	0.26	20	23	29	47	48	25	40	29	42
Restricted Cash	-	-	-	-	-	-	-	-	-	0.00	1.30
Accounts Receivable	-	-	20	14	24	28	32	40	44	65	44
Inventories, net	-	-	5.01	5.20	19	18	16	30	32	28	19
Prepaid Expenses	0.16	0.06	18	16	23	17	29	31	40	36	47
Current Deferred & Refundable Income Taxes	-	-	-	-	-	-	-	-	0.00	1.20	5.50
Plant, Property, & Equipment, net	0.00	0.00	43	46	79	66	51	45	61	56	61
Total Noncurrent Assets	80	80	112	104	153	150	134	115	127	222	221
Noncurrent Note & Lease Receivables	-	-	-	-	-	-	-	-	0.00	19	22
Goodwill	-	-	47	46	81	84	62	56	59	58	62
Intangible Assets	-	-	56	46	57	50	37	33	34	39	37
Noncurrent Deferred & Refundable Income Taxes	-	-	-	-	-	-	-	-	0.00	67	65
Other Noncurrent Operating Assets	80	0.00	9.59	12	15	16	35	27	34	40	36
Total Liabilities & Shareholders' Equity	81	80	219	208	327	324	309	287	343	438	440
Total Liabilities	2.89	5.45	221	232	387	426	417	373	419	442	456
Total Current Liabilities	0.09	2.65	61	64	88	95	82	75	101	104	71
Short-Term Debt	-	0.00	7.93	0.00	2.60	-	-	0.00	19	19	0.00
Accounts Payable	0.09	2.65	20	14	22	16	21	53	61	54	43
Current Deferred Revenue	-	-	7.21	9.20	10	12	6.70	4.60	5.60	5.80	7.10
Current Deferred & Payable Income Tax Liabilities	-	-	3.13	2.00	6.60	14	12	10	6.30	12	9.10
Other Current Liabilities	-	0.00	4.42	4.40	15	22	9.20	7.50	8.90	13	12
Total Noncurrent Liabilities	2.80	2.80	160	171	299	331	336	298	318	338	385
Long-Term Debt	-	-	115	131	271	298	309	278	296	292	345
Capital Lease Obligations	-	-	0.53	0.10	0.00	-	-	1.20	1.60	19	14
Noncurrent Deferred Revenue	-	-	20	24	18	11	5.50	2.80	7.10	13	19
Other Noncurrent Operating Liabilities	2.80	2.80	24	16	10	22	21	16	14	14	7.20
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	5.00	5.00	-2.33	-25	-59	-102	-109	-86	-76	-3.30	-16
Total Preferred & Common Equity	5.00	5.00	-2.33	-25	-59	-102	-109	-86	-76	-3.30	-16
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	5.00	5.00	-2.33	-25	-59	-102	-109	-86	-76	-3.30	-16
Common Stock	5.14	8.67	323	303	321	325	372	378	386	390	395
Retained Earnings	-0.14	-3.67	-379	-386	-425	-457	-525	-515	-506	-442	-459
Accumulated Other Comprehensive Income / (Loss)	-	-	53	59	45	31	44	51	44	48	48

This table presents Inspired Entertainment's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	305	331	327	389	459	487	486	421
Total Current Assets	133	144	136	165	162	166	198	146
Cash & Equivalents	26	35	24	36	39	46	36	41
Restricted Cash	-	-	-	0.80	-	-	-	1.20
Accounts Receivable	29	38	42	47	52	49	43	43
Inventories, net	40	32	30	32	31	25	27	16
Prepaid Expenses	38	40	40	50	35	43	46	38
Current Deferred & Refundable Income Taxes	-	-	-	-	4.30	2.90	5.20	7.50
Plant, Property, & Equipment, net	53	63	61	64	63	73	54	58
Total Noncurrent Assets	119	124	130	159	234	248	234	217
Noncurrent Note & Lease Receivables	-	-	-	-	23	25	23	20
Goodwill	56	58	58	62	60	63	62	61
Intangible Assets	35	35	40	41	39	38	37	36
Noncurrent Deferred & Refundable Income Taxes	-	-	-	-	71	74	72	64
Other Noncurrent Operating Assets	27	31	32	56	42	47	40	36
Total Liabilities & Shareholders' Equity	305	331	327	389	459	487	486	421
Total Liabilities	377	412	404	467	461	496	495	434
Total Current Liabilities	78	94	88	109	113	98	109	70
Accounts Payable	58	58	48	60	70	70	71	44
Current Deferred Revenue	8.70	4.90	4.90	5.60	5.70	6.10	6.50	8.30
Current Deferred & Payable Income Tax Liabilities	3.60	3.20	4.50	7.00	4.30	7.70	8.90	7.20
Other Current Liabilities	7.50	9.50	12	16	14	14	12	11
Total Noncurrent Liabilities	299	318	316	358	348	398	386	363
Long-Term Debt	283	293	294	312	302	350	344	326
Capital Lease Obligations	1.80	2.50	2.00	17	19	18	16	13
Noncurrent Deferred Revenue	1.60	8.00	7.20	12	15	17	17	17
Other Noncurrent Operating Liabilities	13	14	13	17	13	14	8.50	7.10
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-73	-81	-77	-78	-2.20	-9.50	-9.00	-12
Total Preferred & Common Equity	-73	-81	-77	-78	-2.20	-9.50	-9.00	-12
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-73	-81	-77	-78	-2.20	-9.50	-9.00	-12
Common Stock	386	387	389	391	391	393	395	396
Retained Earnings	-509	-514	-512	-509	-442	-449	-451	-462
Accumulated Other Comprehensive Income / (Loss)	50	46	46	40	48	47	48	53

This table displays calculated financial ratios and metrics derived from Inspired Entertainment's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	9/24/2016	9/30/2017	9/30/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	10,000,000.00	10,000,000.00	22,390,447.00	21,484,707.00	22,818,071.00	23,029,492.00	23,433,386.00	25,867,197.00	26,336,586.00	-	26,926,868.00
DEI Adjusted Shares Outstanding	10,000,000.00	10,000,000.00	22,390,447.00	21,484,707.00	22,818,071.00	23,029,492.00	23,433,386.00	25,867,197.00	26,336,586.00	-	26,926,868.00
DEI Earnings Per Adjusted Shares Outstanding	-0.35	-5.99	-2.19	0.64	3.69	-2.67	-1.73	0.40	-0.16	-	-0.88
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	0.00%	2.31%	15.39%	116.97%	-35.37%	3.78%	38.24%	13.50%	-7.99%	2.36%
EBITDA Growth	0.00%	1,085.94%	-55.84%	392.49%	-97.62%	1,688.89%	72.05%	69.13%	-9.61%	-5.55%	14.38%
EBIT Growth	0.00%	56.66%	-1,182.81%	272.72%	-221.53%	37.14%	108.11%	2,209.52%	-18.97%	-20.61%	0.64%
NOPAT Growth	0.00%	63.66%	-827.28%	13.64%	-26.53%	-38.46%	75.00%	1,443.14%	-46.69%	4,799.92%	-98.07%
Net Income Growth	0.00%	-1,598.06%	17.98%	127.08%	-409.02%	-38.20%	28.52%	152.22%	-67.45%	839.13%	-126.23%
EPS Growth	0.00%	-302.36%	47.55%	122.01%	-418.64%	-27.13%	30.54%	143.98%	-67.12%	825.00%	-126.13%
Operating Cash Flow Growth	0.00%	2,250.92%	-2.12%	87.39%	-10.23%	55.70%	-94.98%	1,133.33%	84.80%	-42.05%	64.04%
Free Cash Flow Firm Growth	0.00%	0.00%	-1,648.93%	94.27%	-1,381.75%	125.11%	-129.70%	482.86%	-136.25%	10,557.73%	-98.13%
Invested Capital Growth	0.00%	0.00%	0.00%	-0.89%	83.60%	-19.49%	2.56%	10.30%	19.14%	48.20%	0.84%
Revenue Q/Q Growth	0.00%	293.47%	-30.66%	35.99%	95.92%	-10.98%	-39.51%	5.80%	1.41%	-0.27%	-1.81%
EBITDA Q/Q Growth	0.00%	3,184.63%	-59.93%	71.72%	-96.64%	105.17%	27.36%	12.35%	-1.40%	5.54%	0.55%
EBIT Q/Q Growth	0.00%	-244.38%	-2.94%	1,087.81%	-357.40%	39.49%	119.63%	34.72%	-7.96%	5.41%	-4.56%
NOPAT Q/Q Growth	0.00%	-221.07%	21.60%	-196.68%	19.80%	-35.17%	62.81%	4.15%	-24.88%	19,024.66%	-4.98%
Net Income Q/Q Growth	0.00%	-111.28%	31.88%	174.17%	-224.23%	-35.33%	28.52%	76.67%	-37.84%	21,700.00%	-129.72%
EPS Q/Q Growth	0.00%	-89.96%	49.53%	234.09%	-1,988.89%	-1.27%	48.13%	-44.27%	-36.84%	22,300.00%	-129.74%
Operating Cash Flow Q/Q Growth	0.00%	145.08%	-52.09%	7.48%	-20.94%	20.10%	-89.70%	8.82%	52.37%	16.12%	-9.88%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	-328.19%	89.40%	-532.14%	127.62%	-112.54%	26.57%	-165.49%	1,949.28%	127.15%
Invested Capital Q/Q Growth	0.00%	-100.00%	79.73%	-11.30%	129.44%	-4.62%	1.19%	-1.23%	7.97%	26.76%	-8.19%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	0.00%	82.96%	78.23%	78.22%	91.72%	69.29%	66.18%	66.64%	60.17%	68.93%	71.56%
EBITDA Margin	0.00%	29.06%	12.54%	53.54%	0.59%	16.24%	26.92%	32.94%	26.23%	26.93%	30.09%
Operating Margin	0.00%	-1.07%	-9.71%	-5.16%	-4.24%	-9.08%	-2.19%	16.34%	12.05%	10.33%	10.03%
EBIT Margin	0.00%	-1.28%	-16.02%	23.97%	-13.43%	-13.06%	1.02%	17.05%	12.17%	10.50%	10.33%
Profit (Net Income) Margin	0.00%	-49.99%	-40.08%	9.41%	-13.40%	-28.64%	-19.73%	7.45%	2.14%	21.81%	-5.59%
Tax Burden Percent	100.29%	100.52%	100.38%	98.52%	100.24%	100.71%	96.21%	90.99%	57.98%	3,600.00%	288.14%
Interest Burden Percent	99.59%	3,893.46%	249.30%	39.82%	99.51%	217.76%	-2,009.52%	48.04%	30.28%	5.77%	-18.79%
Effective Tax Rate	0.00%	0.00%	0.00%	1.48%	0.00%	0.00%	0.00%	9.01%	42.02%	-3,500.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	-16.41%	-7.12%	-6.38%	-7.56%	-2.09%	26.39%	12.24%	444.39%	7.16%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	-94.97%	10.79%	-23.72%	-25.44%	-16.73%	18.19%	6.33%	83.52%	-5.29%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	4,234.01%	-92.03%	104.47%	78.12%	40.68%	-48.21%	-20.78%	-608.03%	167.20%
Return on Equity (ROE)	-4.60%	0.00%	4,217.60%	-99.15%	98.09%	70.56%	38.59%	-21.82%	-8.54%	-163.64%	174.36%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	-216.41%	-6.22%	-65.33%	14.04%	-4.61%	16.59%	-5.23%	405.55%	6.32%
Operating Return on Assets (OROA)	0.00%	0.00%	-8.96%	15.88%	-15.39%	-7.95%	0.66%	16.28%	12.47%	7.99%	7.15%
Return on Assets (ROA)	0.00%	0.00%	-22.42%	6.23%	-15.36%	-17.44%	-12.83%	7.12%	2.19%	16.59%	-3.87%
Return on Common Equity (ROCE)	-0.30%	0.00%	4,217.60%	-99.15%	98.09%	70.56%	38.59%	-21.82%	-8.54%	-163.64%	174.36%
Return on Equity Simple (ROE_SIMPLE)	-70.52%	0.00%	2,108.80%	-54.29%	69.31%	55.85%	37.35%	-24.77%	-9.09%	-1,963.64%	0.00%
Net Operating Profit after Tax (NOPAT)	-2.47	-0.90	-8.33	-7.19	-9.10	-13	-3.15	42	23	1,105	21
NOPAT Margin	0.00%	-0.75%	-6.80%	-5.09%	-2.97%	-6.35%	-1.53%	14.87%	6.99%	372.00%	7.02%
Net Nonoperating Expense Percent (NNEP)	-1.31%	0.00%	78.56%	-17.90%	17.34%	17.88%	14.64%	8.20%	5.91%	360.87%	12.45%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	21.90%	9.38%	338.71%	6.23%
Cost of Revenue to Revenue	0.00%	17.04%	21.78%	21.78%	8.28%	30.71%	33.82%	33.36%	39.83%	31.07%	28.44%
SG&A Expenses to Revenue	0.00%	50.66%	47.58%	42.50%	25.88%	38.93%	43.88%	39.89%	39.33%	44.03%	44.33%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	0.00%	84.03%	87.93%	83.38%	45.96%	80.79%	68.37%	54.09%	51.59%	58.60%	61.56%
Earnings before Interest and Taxes (EBIT)	-3.53	-1.53	-20	34	-41	-26	2.10	49	39	31	31
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-3.53	35	15	76	1.80	32	55	94	85	80	92
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.10	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	1.10	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.00	0.05	2.42	0.93	0.50	0.76	1.48	1.15	0.81	0.81	0.83
Price to Earnings (P/E)	0.00	0.00	0.00	9.57	1.83	0.00	0.00	31.51	0.00	3.71	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	10.45%	54.73%	0.00%	0.00%	3.17%	0.00%	26.94%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	3.95	2.38	2.16	2.70	3.70	3.46	2.68	1.82	1.90
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	3.27	1.69	1.30	2.03	2.74	2.04	1.66	1.82	1.87
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	26.06	3.16	221.12	12.48	10.20	6.21	6.33	6.76	6.20
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	7.05	0.00	0.00	269.00	11.99	13.65	17.33	18.08
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	13.75	23.79	0.49	26.59
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	21.94	6.99	12.96	8.41	235.37	19.65	9.81	17.06	10.92
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	17.18	0.00	21.85	0.00	0.54	30.12
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	-53.18	-5.36	-4.61	-2.93	-2.84	-3.26	-4.17	-99.88	-22.16
Long-Term Debt to Equity	0.00	0.00	-49.78	-5.36	-4.56	-2.93	-2.84	-3.26	-3.92	-94.18	-22.16
Financial Leverage	-1.07	0.00	-44.58	-8.53	-4.40	-3.07	-2.43	-2.65	-3.28	-7.28	-31.59
Leverage Ratio	1.05	0.00	-94.04	-15.91	-6.39	-4.05	-3.01	-3.07	-3.90	-9.87	-45.04
Compound Leverage Factor	1.05	0.00	-234.45	-6.34	-6.36	-8.81	60.44	-1.47	-1.18	-0.57	8.46
Debt to Total Capital	0.00%	0.00%	101.92%	122.94%	127.74%	151.94%	154.27%	144.31%	131.57%	101.01%	104.73%
Short-Term Debt to Total Capital	0.00%	0.00%	6.53%	0.00%	1.22%	0.00%	0.00%	0.00%	7.95%	5.76%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	95.39%	122.94%	126.52%	151.94%	154.27%	144.31%	123.63%	95.25%	104.73%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	93.32%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	6.68%	0.00%	-1.92%	-22.94%	-27.74%	-51.94%	-54.27%	-44.31%	-31.57%	-1.01%	-4.73%
Debt to EBITDA	0.00	0.00	8.06	1.73	151.72	9.24	5.58	2.98	3.73	4.12	3.92
Net Debt to EBITDA	0.00	0.00	6.76	1.43	135.56	7.78	4.71	2.71	3.26	3.75	3.45
Long-Term Debt to EBITDA	0.00	0.00	7.54	1.73	150.28	9.24	5.58	2.98	3.51	3.89	3.92
Debt to NOPAT	0.00	0.00	-14.87	-18.26	-30.01	-23.61	-98.10	6.59	14.02	0.30	16.82
Net Debt to NOPAT	0.00	0.00	-12.47	-15.02	-26.81	-19.87	-82.92	6.00	12.25	0.27	14.79
Long-Term Debt to NOPAT	0.00	0.00	-13.92	-18.26	-29.73	-23.61	-98.10	6.59	13.18	0.28	16.82
Altman Z-Score	0.36	0.00	-1.34	-1.07	-1.03	-1.36	-1.09	-0.22	-0.18	-0.02	0.04
Noncontrolling Interest Sharing Ratio	93.48%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.12	0.00	1.03	0.91	1.08	1.15	1.52	1.69	1.55	1.54	2.23
Quick Ratio	0.10	0.00	0.66	0.58	0.61	0.79	0.97	0.87	0.83	0.91	1.21
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-6.28	-110	-6.29	-93	23	-6.95	27	-9.64	1,009	19
Operating Cash Flow to CapEx	0.00%	58.45%	51.58%	79.72%	111.64%	201.69%	12.00%	99.66%	117.13%	110.07%	114.04%
Free Cash Flow to Firm to Interest Expense	0.00	-0.11	-3.74	-0.31	-3.36	0.78	-0.16	1.06	-0.35	34.31	0.51
Operating Cash Flow to Interest Expense	0.00	0.32	0.62	1.66	1.11	1.59	0.05	1.17	2.00	1.08	1.39
Operating Cash Flow Less CapEx to Interest Expense	0.00	-0.23	-0.58	-0.42	0.12	0.80	-0.40	0.00	0.29	0.10	0.17
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.00	0.56	0.66	1.15	0.61	0.65	0.95	1.02	0.76	0.69
Accounts Receivable Turnover	0.00	0.00	5.99	8.13	15.94	7.67	6.96	7.90	7.67	5.44	5.56
Inventory Turnover	0.00	0.00	5.33	6.03	2.12	3.35	4.21	4.14	4.11	3.06	3.72
Fixed Asset Turnover	0.00	0.00	2.82	3.17	4.91	2.74	3.54	5.93	6.10	5.07	5.20
Accounts Payable Turnover	0.00	0.00	1.31	1.77	1.39	3.21	3.80	2.58	2.27	1.61	1.79
Days Sales Outstanding (DSO)	0.00	0.00	60.97	44.88	22.90	47.58	52.41	46.19	47.59	67.08	65.59
Days Inventory Outstanding (DIO)	0.00	0.00	68.54	60.50	172.44	109.08	86.79	88.08	88.84	119.23	98.11
Days Payable Outstanding (DPO)	0.00	0.00	279.14	206.24	262.97	113.88	95.97	141.35	161.07	226.39	203.39
Cash Conversion Cycle (CCC)	0.00	0.00	-149.63	-100.86	-67.63	42.79	43.23	-7.08	-24.64	-40.09	-39.69
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-5.38	0.00	102	101	185	149	153	168	200	297	300
Invested Capital Turnover	0.00	0.00	2.41	1.40	2.15	1.19	1.37	1.77	1.75	1.19	1.02
Increase / (Decrease) in Invested Capital	0.00	5.38	102	-0.90	84	-36	3.80	16	32	97	2.50
Enterprise Value (EV)	-4.88	0.00	401	239	398	402	565	582	537	541	568
Market Capitalization	5.50	5.50	297	131	154	152	304	328	260	241	252
Book Value per Share	$0.50	$0.00	($0.10)	($1.14)	($2.60)	($4.42)	($4.64)	($3.31)	($2.88)	($0.12)	($0.60)
Tangible Book Value per Share	$0.50	$0.00	($4.69)	($5.40)	($8.63)	($10.23)	($8.87)	($6.73)	($6.39)	($3.75)	($4.27)
Total Capital	75	0.00	122	107	214	196	200	193	240	326	343
Total Debt	0.00	0.00	124	131	273	298	309	279	316	330	359
Total Long-Term Debt	0.00	0.00	116	131	271	298	309	279	297	311	359
Net Debt	-80	0.00	104	108	244	250	261	254	276	300	316
Capital Expenditures (CapEx)	0.00	32	35	43	28	24	20	30	47	29	46
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-2.58	0.00	-10	-29	-19	-33	-5.60	27	34	45	44
Debt-free Net Working Capital (DFNWC)	-2.33	0.00	9.91	-5.70	9.80	14	42	52	74	75	87
Net Working Capital (NWC)	-2.33	0.00	1.98	-5.70	7.20	14	42	52	55	56	87
Net Nonoperating Expense (NNE)	1.05	59	41	-20	32	44	37	21	16	1,040	38
Net Nonoperating Obligations (NNO)	-80	0.00	104	125	244	250	261	254	276	300	316
Total Depreciation and Amortization (D&A)	0.00	36	35	42	43	58	53	45	45	49	60
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	0.00%	-8.26%	-20.51%	-6.29%	-16.64%	-2.72%	9.49%	10.56%	15.28%	14.44%
Debt-free Net Working Capital to Revenue	0.00%	0.00%	8.09%	-4.03%	3.19%	7.11%	20.51%	18.28%	22.95%	25.14%	28.67%
Net Working Capital to Revenue	0.00%	0.00%	1.62%	-4.03%	2.35%	7.11%	20.51%	18.28%	17.03%	18.82%	28.67%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($1.27)	($5.11)	($2.68)	($0.99)	($1.69)	$0.00	($1.60)	$0.00	$0.27	$2.27	($0.58)
Adjusted Weighted Average Basic Shares Outstanding	10M	11.72M	22.42M	21.48M	23.02M	0.00	26.88M	0.00	28.07M	28.52M	29.06M
Adjusted Diluted Earnings per Share	($1.27)	($5.11)	($2.68)	($0.99)	($1.69)	$0.00	($1.60)	$0.00	$0.26	$2.22	($0.58)
Adjusted Weighted Average Diluted Shares Outstanding	10M	11.72M	22.42M	21.48M	23.02M	0.00	26.88M	0.00	29.21M	29.20M	29.06M
Adjusted Basic & Diluted Earnings per Share	($1.27)	($5.11)	($2.68)	($0.99)	($1.69)	$0.00	($1.60)	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	2.79M	11.72M	18.30M	20.75M	21.89M	0.00	26.88M	0.00	0.00	26.90M	27.06M
Normalized Net Operating Profit after Tax (NOPAT)	-2.47	2.57	-0.34	8.57	-4.41	7.98	-2.03	43	23	21	21
Normalized NOPAT Margin	0.00%	2.15%	-0.28%	6.06%	-1.44%	4.02%	-0.99%	15.03%	6.99%	7.23%	7.02%
Pre Tax Income Margin	0.00%	-49.74%	-39.93%	9.55%	-13.36%	-28.44%	-20.51%	8.19%	3.69%	0.61%	-1.94%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	-0.03	-0.67	1.65	-1.49	-0.86	0.05	1.92	1.43	1.06	0.84
NOPAT to Interest Expense	0.00	-0.02	-0.28	-0.35	-0.33	-0.42	-0.07	1.68	0.82	37.59	0.57
EBIT Less CapEx to Interest Expense	0.00	-0.57	-1.87	-0.44	-2.48	-1.65	-0.40	0.75	-0.27	0.08	-0.38
NOPAT Less CapEx to Interest Expense	0.00	-0.56	-1.49	-2.43	-1.32	-1.21	-0.52	0.50	-0.88	36.61	-0.65
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	49.06%	23.19%	0.00%	-2.35%

This table displays calculated financial ratios and metrics derived from Inspired Entertainment's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	26,336,586.00	26,336,586.00	78,657,063.00	26,571,308.00	26,574,804.00	-	26,904,832.00	26,912,201.00	26,920,506.00	26,926,868.00	54,119,146.00
DEI Adjusted Shares Outstanding	26,336,586.00	26,336,586.00	78,657,063.00	26,571,308.00	26,574,804.00	-	26,904,832.00	26,912,201.00	26,920,506.00	26,926,868.00	54,119,146.00
DEI Earnings Per Adjusted Shares Outstanding	0.13	-0.45	-0.08	0.05	0.11	-	0.00	-0.29	-0.07	-0.51	-0.01
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	31.40%	2.01%	-4.01%	-5.79%	-20.82%	-0.86%	-3.05%	7.35%	11.66%	-6.76%	-5.30%
EBITDA Growth	-7.84%	-14.17%	-38.93%	-18.33%	1.28%	16.51%	50.55%	21.95%	7.98%	1.88%	70.07%
EBIT Growth	-21.15%	-31.71%	-142.55%	-36.69%	-8.13%	30.95%	190.00%	-7.95%	-12.39%	-11.45%	416.67%
NOPAT Growth	-49.25%	-145.28%	-145.65%	-52.72%	7.44%	7,360.72%	176.19%	-1,213.00%	-17.72%	-144.98%	475.00%
Net Income Growth	-63.04%	-117.07%	-357.14%	-75.00%	-17.65%	9,400.00%	98.44%	-657.14%	-167.86%	-110.75%	-400.00%
EPS Growth	-62.50%	-114.29%	-340.00%	-73.68%	-16.67%	11,250.00%	100.00%	-640.00%	-170.00%	-110.48%	0.00%
Operating Cash Flow Growth	-49.52%	631.82%	-48.28%	-111.48%	101.90%	-41.03%	325.00%	733.33%	-52.36%	-82.61%	4.71%
Free Cash Flow Firm Growth	-70.65%	-404.77%	-215.45%	-221.48%	-430.91%	611.82%	-262.60%	-328.51%	-110.42%	-188.98%	120.67%
Invested Capital Growth	8.98%	19.14%	14.97%	24.84%	26.24%	48.20%	50.45%	45.40%	39.22%	0.84%	-4.69%
Revenue Q/Q Growth	22.80%	-16.82%	-23.18%	20.06%	3.21%	3.08%	-27.05%	32.95%	7.35%	-10.44%	-25.91%
EBITDA Q/Q Growth	-6.37%	-9.79%	-57.08%	125.27%	16.10%	0.41%	-48.50%	82.48%	2.80%	5.45%	-14.02%
EBIT Q/Q Growth	-11.51%	-31.71%	-123.81%	540.00%	28.41%	-8.33%	-86.26%	350.00%	22.22%	17.17%	-19.83%
NOPAT Q/Q Growth	-34.40%	-150.42%	62.05%	476.62%	49.06%	2,958.38%	-99.44%	-5,601.79%	111.02%	-1,431.37%	107.12%
Net Income Q/Q Growth	-39.29%	-120.59%	-814.29%	121.88%	100.00%	1,814.71%	-100.15%	-7,700.00%	75.64%	-278.95%	93.06%
EPS Q/Q Growth	-36.84%	-116.67%	-1,000.00%	122.73%	100.00%	1,758.33%	-100.00%	0.00%	74.07%	-242.86%	91.67%
Operating Cash Flow Q/Q Growth	-49.76%	11.43%	-48.72%	-140.00%	983.33%	-74.35%	269.57%	-40.39%	-33.55%	-88.12%	2,125.00%
Free Cash Flow Firm Q/Q Growth	-124.97%	-373.50%	24.40%	-35.91%	-9.13%	567.37%	-194.71%	-60.62%	46.41%	-9.15%	122.00%
Invested Capital Q/Q Growth	8.22%	7.97%	-1.10%	8.02%	9.43%	26.76%	0.40%	4.39%	4.79%	-8.19%	-5.11%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	50.67%	63.13%	67.26%	66.84%	69.69%	70.52%	70.36%	68.62%	70.19%	77.07%	80.42%
EBITDA Margin	24.10%	26.14%	14.61%	27.41%	30.83%	30.72%	22.68%	31.13%	29.81%	35.10%	40.73%
Operating Margin	12.51%	10.23%	-3.37%	11.63%	14.51%	13.43%	2.65%	9.84%	11.25%	14.64%	16.08%
EBIT Margin	12.62%	10.36%	-3.21%	11.76%	14.64%	13.68%	2.98%	10.09%	11.48%	15.03%	16.26%
Profit (Net Income) Margin	3.49%	-0.86%	-10.27%	1.87%	3.63%	80.97%	-0.17%	-9.71%	-2.20%	-9.33%	-0.87%
Tax Burden Percent	62.96%	-46.67%	75.29%	63.64%	73.68%	2,604.00%	1.92%	-780.00%	73.08%	-800.00%	41.67%
Interest Burden Percent	43.90%	17.86%	425.00%	25.00%	33.63%	22.73%	-288.89%	12.35%	-26.26%	7.76%	-12.90%
Effective Tax Rate	37.04%	146.67%	0.00%	36.36%	26.32%	-2,504.00%	0.00%	880.00%	0.00%	900.00%	0.00%
Return on Invested Capital (ROIC)	14.10%	-8.37%	-4.08%	12.12%	15.04%	417.86%	2.21%	-87.84%	8.70%	-119.40%	11.63%
ROIC Less NNEP Spread (ROIC-NNEP)	12.31%	-7.17%	-5.91%	10.60%	13.13%	342.90%	1.78%	-70.26%	6.02%	-92.38%	9.31%
Return on Net Nonoperating Assets (RNNOA)	-47.90%	23.54%	18.97%	-36.49%	-49.69%	-2,496.39%	-12.41%	495.04%	-44.68%	2,918.33%	-380.64%
Return on Equity (ROE)	-33.80%	15.17%	14.89%	-24.37%	-34.65%	-2,078.53%	-10.20%	407.20%	-35.98%	2,798.94%	-369.01%
Cash Return on Invested Capital (CROIC)	8.28%	-5.23%	-7.32%	-75.98%	-14.49%	405.55%	152.93%	166.00%	-24.77%	6.32%	13.97%
Operating Return on Assets (OROA)	13.59%	10.61%	-3.30%	11.29%	12.47%	10.40%	2.23%	7.46%	8.14%	10.41%	11.12%
Return on Assets (ROA)	3.76%	-0.88%	-10.57%	1.80%	3.09%	61.57%	-0.12%	-7.18%	-1.56%	-6.46%	-0.60%
Return on Common Equity (ROCE)	-33.80%	15.17%	14.89%	-24.37%	-34.65%	-2,078.53%	-10.20%	407.20%	-35.98%	2,798.94%	-369.01%
Return on Equity Simple (ROE_SIMPLE)	-15.31%	0.00%	-2.34%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	7.68	-3.87	-1.47	5.54	8.25	281	1.12	-62	6.79	-90	6.44
NOPAT Margin	7.88%	-4.78%	-2.36%	7.40%	10.69%	349.79%	1.85%	-76.74%	7.88%	-117.10%	11.26%
Net Nonoperating Expense Percent (NNEP)	1.79%	-1.20%	1.83%	1.52%	1.91%	74.97%	0.42%	-17.58%	2.68%	-27.01%	2.33%
Return On Investment Capital (ROIC_SIMPLE)	-	-1.61%	-0.63%	2.33%	3.05%	86.19%	0.33%	-17.23%	1.93%	-26.37%	1.97%
Cost of Revenue to Revenue	49.33%	36.87%	32.74%	33.16%	30.31%	29.48%	29.64%	31.38%	29.81%	22.93%	19.58%
SG&A Expenses to Revenue	27.59%	54.62%	54.90%	41.18%	40.67%	42.79%	50.17%	39.73%	36.77%	52.98%	42.48%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	38.15%	66.71%	70.63%	55.21%	55.18%	57.09%	67.72%	58.78%	58.93%	62.56%	64.34%
Earnings before Interest and Taxes (EBIT)	12	8.40	-2.00	8.80	11	11	1.80	8.10	9.90	12	9.30
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	24	21	9.10	21	24	25	14	25	26	27	23
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.99	0.81	0.81	0.77	0.83	0.81	0.78	0.73	0.82	0.83	0.64
Price to Earnings (P/E)	28.38	0.00	0.00	0.00	0.00	3.71	3.23	3.55	4.41	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	3.52%	0.00%	0.00%	0.00%	0.00%	26.94%	30.94%	28.15%	22.65%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	3.09	2.68	2.71	2.50	2.39	1.82	1.78	1.74	1.77	1.90	1.72
Enterprise Value to Revenue (EV/Rev)	1.80	1.66	1.68	1.69	1.89	1.82	1.80	1.80	1.86	1.87	1.63
Enterprise Value to EBITDA (EV/EBITDA)	6.67	6.33	6.82	7.20	7.49	6.76	6.27	6.07	6.34	6.20	4.84
Enterprise Value to EBIT (EV/EBIT)	13.42	13.65	16.50	19.44	21.09	17.33	15.15	15.76	17.53	18.08	12.58
Enterprise Value to NOPAT (EV/NOPAT)	19.09	23.79	43.96	0.00	30.59	0.49	1.11	1.01	25.67	26.59	18.36
Enterprise Value to Operating Cash Flow (EV/OCF)	15.96	9.81	10.96	20.72	15.31	17.06	10.35	7.86	10.00	10.92	9.20
Enterprise Value to Free Cash Flow (EV/FCFF)	38.91	0.00	0.00	0.00	0.00	0.54	1.40	1.24	0.00	30.12	12.04
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-3.92	-4.17	-3.88	-4.07	-4.46	-99.88	-154.27	-38.64	-40.07	-22.16	-27.33
Long-Term Debt to Equity	-3.92	-3.92	-3.64	-3.82	-4.20	-94.18	-145.45	-38.64	-40.07	-22.16	-27.33
Financial Leverage	-3.89	-3.28	-3.21	-3.44	-3.78	-7.28	-6.95	-7.05	-7.42	-31.59	-40.89
Leverage Ratio	-4.80	-3.90	-3.71	-4.17	-4.60	-9.87	-9.47	-9.36	-10.02	-45.04	-60.28
Compound Leverage Factor	-2.11	-0.70	-15.78	-1.04	-1.55	-2.24	27.36	-1.16	2.63	-3.49	7.78
Debt to Total Capital	134.20%	131.57%	134.78%	132.58%	128.91%	101.01%	100.65%	102.66%	102.56%	104.73%	103.80%
Short-Term Debt to Total Capital	0.00%	7.95%	8.09%	8.00%	7.42%	5.76%	5.75%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	134.20%	123.63%	126.68%	124.58%	121.49%	95.25%	94.90%	102.66%	102.56%	104.73%	103.80%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	-34.20%	-31.57%	-34.78%	-32.58%	-28.91%	-1.01%	-0.65%	-2.66%	-2.56%	-4.73%	-3.80%
Debt to EBITDA	3.31	3.73	3.99	4.24	4.68	4.12	4.01	4.12	3.96	3.92	3.35
Net Debt to EBITDA	3.00	3.26	3.54	3.92	4.19	3.75	3.55	3.60	3.56	3.45	2.93
Long-Term Debt to EBITDA	3.31	3.51	3.75	3.98	4.41	3.89	3.78	4.12	3.96	3.92	3.35
Debt to NOPAT	9.47	14.02	25.72	-3.03	19.11	0.30	0.71	0.69	16.05	16.82	12.71
Net Debt to NOPAT	8.60	12.25	22.83	-2.81	17.11	0.27	0.63	0.60	14.43	14.79	11.12
Long-Term Debt to NOPAT	9.47	13.18	24.17	-2.85	18.01	0.28	0.67	0.69	16.05	16.82	12.71
Altman Z-Score	-0.44	-0.48	-0.67	-0.60	-0.49	-0.17	-0.26	-0.19	-0.07	-0.11	-0.27
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.71	1.55	1.53	1.55	1.51	1.54	1.43	1.69	1.82	2.23	2.08
Quick Ratio	0.71	0.83	0.77	0.75	0.76	0.91	0.80	0.97	0.73	1.21	1.19
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-7.62	-36	-27	-37	-40	185	-99	-159	-85	-93	20
Operating Cash Flow to CapEx	66.88%	75.00%	77.92%	-41.38%	286.49%	87.34%	225.66%	124.59%	116.09%	8.96%	376.06%
Free Cash Flow to Firm to Interest Expense	-1.10	-5.23	-4.20	-5.62	-5.39	21.72	-14.13	-22.37	-6.81	-8.68	1.95
Operating Cash Flow to Interest Expense	1.52	1.70	0.92	-0.36	2.83	0.81	3.64	2.14	0.81	0.11	2.54
Operating Cash Flow Less CapEx to Interest Expense	-0.75	-0.57	-0.26	-1.24	1.84	-0.12	2.03	0.42	0.11	-1.14	1.87
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.08	1.02	1.03	0.96	0.85	0.76	0.75	0.74	0.71	0.69	0.68
Accounts Receivable Turnover	11.23	7.67	9.10	7.80	7.73	5.44	6.60	6.62	6.84	5.56	6.37
Inventory Turnover	3.87	4.11	3.84	3.19	2.76	3.06	2.86	3.26	3.17	3.72	3.40
Fixed Asset Turnover	6.75	6.10	5.79	5.78	5.05	5.07	4.69	4.47	5.25	5.20	4.98
Accounts Payable Turnover	3.06	2.27	3.19	2.57	1.66	1.61	1.41	1.53	1.41	1.79	1.40
Days Sales Outstanding (DSO)	32.50	47.59	40.11	46.77	47.20	67.08	55.33	55.17	53.33	65.59	57.32
Days Inventory Outstanding (DIO)	94.37	88.84	95.05	114.51	132.47	119.23	127.63	111.89	115.02	98.11	107.26
Days Payable Outstanding (DPO)	119.44	161.07	114.40	142.21	219.37	226.39	258.51	238.54	259.05	203.39	259.80
Cash Conversion Cycle (CCC)	7.42	-24.64	20.76	19.07	-39.70	-40.09	-75.55	-71.49	-90.70	-39.69	-95.23
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	186	200	198	214	234	297	298	311	326	300	284
Invested Capital Turnover	1.79	1.75	1.73	1.64	1.41	1.19	1.19	1.14	1.11	1.02	1.03
Increase / (Decrease) in Invested Capital	15	32	26	43	49	97	100	97	92	2.50	-14
Enterprise Value (EV)	573	537	538	535	559	541	530	541	577	568	490
Market Capitalization	315	260	259	243	246	241	230	220	253	252	193
Book Value per Share	($2.75)	($2.88)	($3.10)	($2.91)	($2.95)	($0.12)	($0.08)	($0.35)	($0.33)	($0.60)	($0.46)
Tangible Book Value per Share	($6.23)	($6.39)	($6.65)	($6.60)	($6.83)	($3.75)	($3.76)	($4.12)	($4.00)	($4.27)	($4.03)
Total Capital	212	240	234	238	271	326	337	358	352	343	327
Total Debt	285	316	315	315	349	330	339	367	361	359	339
Total Long-Term Debt	285	297	296	296	329	311	320	367	361	359	339
Net Debt	258	276	279	292	313	300	300	321	324	316	297
Capital Expenditures (CapEx)	16	16	7.70	5.80	7.40	7.90	11	12	8.70	13	7.10
Debt-free, Cash-free Net Working Capital (DFCFNWC)	29	34	34	43	40	45	29	21	53	44	33
Debt-free Net Working Capital (DFNWC)	56	74	69	67	76	75	68	67	89	87	76
Net Working Capital (NWC)	56	55	50	48	56	56	49	67	89	87	76
Net Nonoperating Expense (NNE)	4.28	-3.17	4.93	4.14	5.45	216	1.22	-54	8.69	-83	6.94
Net Nonoperating Obligations (NNO)	258	276	279	292	313	300	300	321	335	316	297
Total Depreciation and Amortization (D&A)	11	13	11	12	13	14	12	17	16	16	14
Debt-free, Cash-free Net Working Capital to Revenue	9.14%	10.56%	10.49%	13.72%	13.44%	15.28%	9.86%	7.02%	17.11%	14.44%	11.10%
Debt-free Net Working Capital to Revenue	17.43%	22.95%	21.51%	21.16%	25.80%	25.14%	23.07%	22.41%	28.83%	28.67%	25.16%
Net Working Capital to Revenue	17.43%	17.03%	15.61%	15.14%	18.99%	18.82%	16.50%	22.41%	28.83%	28.67%	25.16%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.12	($0.02)	($0.20)	$0.07	$0.12	$2.28	$0.00	($0.27)	($0.07)	($0.24)	($0.02)
Adjusted Weighted Average Basic Shares Outstanding	28.10M	28.07M	28.60M	28.47M	28.50M	28.52M	28.97M	29.08M	29.09M	29.06M	29.29M
Adjusted Diluted Earnings per Share	$0.12	($0.02)	($0.20)	$0.07	$0.12	$2.23	$0.00	($0.27)	($0.07)	($0.24)	($0.02)
Adjusted Weighted Average Diluted Shares Outstanding	29.11M	29.21M	28.60M	29.05M	29.19M	29.20M	28.97M	29.08M	29.09M	29.06M	29.29M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	26.57M	26.57M	26.58M	26.90M	26.91M	26.92M	26.93M	27.06M	26.68M
Normalized Net Operating Profit after Tax (NOPAT)	7.68	5.81	-1.47	5.54	8.25	7.56	1.12	5.53	11	7.91	6.44
Normalized NOPAT Margin	7.88%	7.16%	-2.36%	7.40%	10.69%	9.40%	1.85%	6.89%	12.67%	10.25%	11.26%
Pre Tax Income Margin	5.54%	1.85%	-13.64%	2.94%	4.92%	3.11%	-8.61%	1.25%	-3.02%	1.17%	-2.10%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1.78	1.22	-0.31	1.33	1.51	1.29	0.26	1.14	0.79	1.08	0.89
NOPAT to Interest Expense	1.11	-0.56	-0.23	0.84	1.10	33.09	0.16	-8.68	0.54	-8.45	0.61
EBIT Less CapEx to Interest Expense	-0.49	-1.04	-1.49	0.45	0.52	0.36	-1.36	-0.58	0.10	-0.17	0.21
NOPAT Less CapEx to Interest Expense	-1.16	-2.82	-1.41	-0.04	0.11	32.16	-1.45	-10.40	-0.15	-9.70	-0.06
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	18.02%	23.19%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-2.35%	-17.24%

Financials Breakdown Chart

Key Financial Trends

Inspired Entertainment (NASDAQ: INSE) has had a rough start to 2026, with profitability slipping back into the red even though operating cash flow remained solid. Over the last four years, the company has shown it can generate meaningful cash from operations, but earnings have been volatile and the balance sheet remains highly leveraged. The latest quarter suggests the business is still carrying significant debt pressure, while revenue and margins are under strain compared with prior periods.

What stands out most in Q1 2026:

Operating cash flow was strong at $26.7 million, showing the core business still converts earnings into cash reasonably well.
Cash & equivalents increased to $41.1 million, up from $36.3 million in Q3 2025.
The company made progress reducing debt, with repayment of debt of $14.1 million in the quarter.
Revenue in Q1 2026 was $57.2 million, down from $77.2 million in Q4 2025 and $60.4 million in Q1 2025, indicating a slower top line.
Gross margin remained fairly healthy, with gross profit of $46.0 million on $57.2 million of revenue.
The balance sheet still shows a large amount of goodwill and intangible assets, which adds some accounting risk if operations weaken further.
The company posted a net loss of $0.5 million in Q1 2026, versus a profit of $65.1 million in Q4 2024 and a profit of $2.8 million in Q3 2024.
Interest expense was heavy at $10.5 million, which nearly wiped out operating income of $9.2 million.
Long-term debt remained very large at $326.3 million, and total liabilities were $433.6 million versus total assets of $421.2 million.
Book equity stayed negative at -$12.4 million, signaling a highly leveraged capital structure.

Longer-term trend: Inspired’s results over the last four years show a company that can generate cash, but not consistently generate accounting profits. In 2024, the business was often profitable on an operating basis and even posted a very strong Q4 with $65.1 million in net income. However, 2025 turned weaker, with earnings slipping back into losses in several quarters and interest expense remaining a major drag. The first quarter of 2026 continues that pattern.

Cash flow remains the company’s biggest strength. Even when net income was weak or negative, operating cash flow was often positive, helped by non-cash expenses such as depreciation and amortization. For example, Q1 2025 produced $25.5 million in operating cash flow despite only -$0.1 million in net income, and Q1 2026 again generated strong cash from operations despite a small loss.

The main concern is leverage. Debt has stayed elevated across the period, with long-term debt generally in the $300 million to $350 million range. That creates ongoing interest burden and limits flexibility. The company did reduce debt in Q1 2026, which is a positive, but the balance sheet is still stretched and shareholder equity is negative.

Bottom line: Inspired Entertainment looks like a company with decent cash generation but weak earnings quality and a heavy debt load. Investors may view the business as capable of servicing obligations for now, but the combination of negative equity, sizable leverage, and inconsistent profitability keeps the risk profile high.

07/05/26 06:49 AM ETAI Generated. May Contain Errors.

Inspired Entertainment Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Inspired Entertainment's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Inspired Entertainment's net income appears to be on a downward trend, with a most recent value of -$17 million in 2025, rising from -$3.53 million in 2015. The previous period was $64.80 million in 2024. View Inspired Entertainment's forecast to see where analysts expect Inspired Entertainment to go next.

Inspired Entertainment's total operating income in 2025 was $30.50 million, based on the following breakdown:

Total Gross Profit: $217.60 million
Total Operating Expenses: $187.20 million

Over the last 10 years, Inspired Entertainment's total revenue changed from $0.00 in 2015 to $304.10 million in 2025, a change of 30,410,000,000.0%.

Inspired Entertainment's total liabilities were at $456.10 million at the end of 2025, a 3.3% increase from 2024, and a 15,705.0% increase since 2014.

In the past 10 years, Inspired Entertainment's cash and equivalents has ranged from $256.24 thousand in 2015 to $47.80 million in 2021, and is currently $42 million as of their latest financial filing in 2025.

Over the last 10 years, Inspired Entertainment's book value per share changed from 0.50 in 2015 to -0.60 in 2025, a change of -220.3%.

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Financial statements for NASDAQ:INSE last updated on 7/2/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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