DoubleDown Interactive Co Ltd (NASDAQ:DDI), a leading developer and publisher of digital games on mobile and web-based platforms, stock rose 0.33% (As on August 13, 11:21:39 AM UTC-4, Source: Google Finance) after the company in the second quarter of FY 24 has reported the net income of $33.3 million in the second quarter of 2024, or $13.39 per fully diluted common share ($0.67 per ADS), from net income of $24.4 million, or $9.83 per fully diluted common share ($0.49 per ADS), in the second quarter of 2023. The increase in net income was primarily due to increased revenue and lower sales and marketing and research and development expenditures, partially offset by higher general and administrative expenses which included the new expenses for SuprNation. Each ADS represents 0.05 share of a common share. Net cash flows provided by operating activities for the second quarter of 2024 was $34.4 million, compared to net cash flows used in operating activities of $37.6 million in the second quarter of 2023. The increase is primarily due to higher net income and a lower deferred tax asset impact, as well as the final payment of $95.25 million towards the Benson litigation settlement that occurred in 2023.

Moreover, adjusted EBITDA in the second quarter of 2024 increased 34%, or $9.4 million, to $37.0 million, compared to $27.6 million in the second quarter of 2023. Consistent with the increase in net income, the improvement in EBITDA primarily reflects higher revenue and lower sales and marketing and research and development expenses, partially offset by higher general and administrative expenses which included the new expenses for SuprNation. Revenue inclusive of the contributions from SuprNation in the second quarter of 2024 was $88.2 million, an increase of 17% from $75.2 million in the second quarter of 2023. Revenue exclusive of the contributions from SuprNation increased 7% year over year to $80.3 million, primarily reflecting higher engagement and monetization of the existing player base.

Furthermore, Average Revenue Per Daily Active User (“ARPDAU”) for the Company’s social casino/free-to-play games increased to $1.33 in the second quarter of 2024 from $1.05 in the second quarter of 2023 and from $1.26 in the first quarter of 2024. Average monthly revenue per payer for the social casino/free-to-play games increased to $288 in the second quarter of 2024 from $235 in the second quarter of 2023 and from $281 in the first quarter of 2024.