Revenue Overview: Brightstar Lottery achieved revenues of $661 million for Q1 2024, a strong year-on-year increase driven primarily by the company's enhanced lottery technologies and service offerings to regulated markets. The cost of revenue amounted to $330 million, resulting in a gross profit of $331 million and a gross profit ratio of 50.1%. The operating income stood at $219 million, a solid operating income ratio of 33.1% reflecting operational efficiencies.
Profitability Highlights: Net income further tightened to $82 million, resulting in a net profit margin of 12.4%. This performance underscores effective cost management strategies, although increases in marketing and R&D expenses were noted, totaling $11 million and $102 million respectively. Adjusting for one-time expenses, EBITDA reached $325 million with an EBITDA margin of 49.2%. Comparative figures show that BRSL's profitability metrics align closely with industry standards, positioning it favorably against its peers.
Debt Management: The company incurred an interest expense of $53 million but maintained a solid operating cash flow of $120 million as it navigated strategic growth investments and operated within prudent financial leverage limits.