(Updated - February 11, 2019 9:03 AM EST)

Inspired Entertainment, Inc. (NASDAQ: INSE) reported Q1 EPS of ($0.23), $0.05 worse than the analyst estimate of ($0.18). Revenue for the quarter came in at $30.7 million versus the consensus estimate of $34.9 million.

• Total Revenue for the Transitional Period Ended December 31, 2018 of $30.7 Million
• Net Operating Loss Narrowed to $2.4 Million from $4.4 Million
• Adjusted EBITDA1 of $10.5 Million
• Functional Currency2 Revenue and Adjusted EBITDA Growth of 2.3% and 11.3%, Respectively
• Adjusted EBITDA Margin3 Increased to 34.1% from 31.3%
• Announced Multi-Year Virtual Sports Agreements with Bet Stars and bet365
• Further Strengthened Brand Portfolio with New Virtual Basketball Game; Introduced Valor™ Gaming Cabinet for North America
• Issued First Quarter 2019 Adjusted EBITDA Guidance of $13.25 Million to $14.25 Million; Consistent with Our Long-Term Growth Prospects

"As we complete our transition to a traditional calendar year reporting cycle, we're expecting good performance in the first quarter of 2019 driven by continued growth in Greece and Italy, as well as Interactive and additional hardware sales opportunities in conjunction with a reduced overhead expense base," said Lorne Weil, Executive Chairman of Inspired Entertainment. "I'm encouraged by what I see across the business. Accordingly, and based on trends in the quarter to date, we are establishing First Quarter 2019 Adjusted EBITDA guidance that could represent approximately 20% growth year over year in functional currency."

Mr. Weil continued, "As we move from the first quarter into the second quarter, we expect to begin to see the impact of the implementation of new regulations as a result of the Triennial. We have been investing in the resources necessary to satisfy the new requirements and meet player needs in the UK and we are extremely optimistic about our strategy to mitigate a portion of any potential impact."

Mr. Weil concluded, "We had a tremendous showing at last week\'s ICE tradeshow where we introduced our Virtual Basketball and gave a sneak peek of our new Valor™ gaming cabinet, which we expect to drive additional hardware sales opportunities in new jurisdictions. We continue to believe our content and solutions provide an ideal platform for growth and, based on our proven success throughout Europe, we see a unique opportunity to build our VLT, Virtual Sports and Interactive businesses in North America."

For earnings history and earnings-related data on Innosuisse Corporation (INSE) click here.