エドガーで原本を確認する
| Exhibit No. |
Description | |||||||
| 99.1 | ||||||||
| 99.2 | ||||||||
| 101.SCH | XBRL Taxonomy Extension Schema Document | |||||||
| 101.CAL | XBRL Taxonomy Extension Calculation Linkbase Document | |||||||
| 101.DEF | XBRL Taxonomy Extension Definition Linkbase Document | |||||||
| 101.LAB | XBRL Taxonomy Extension Label Linkbase Document | |||||||
| 101.PRE | XBRL Taxonomy Extension Presentation Linkbase Document | |||||||
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) | |||||||
| DOUBLEDOWN INTERACTIVE CO., LTD. | |||||||||||
Date: May 12, 2026 |
|||||||||||
| By: | /s/ Joseph A. Sigrist | ||||||||||
Name: Joseph A. Sigrist |
|||||||||||
Title: Chief Financial Officer |
|||||||||||
| Three months ended March 31, | ||||||||
| 2026 | 2025 | |||||||
| Revenue ($ MM) | $ | 94.1 | $ | 83.5 | ||||
| Total operating expenses ($ MM) | (58.7) | (53.9) | ||||||
Profit for the interim period (excluding non-controlling interest) ($ MM) |
$ | 35.4 | $ | 23.8 | ||||
| Adjusted EBITDA ($ MM) | $ | 38.2 | $ | 30.8 | ||||
| Profit margin | 37.6 | % | 28.6 | % | ||||
| Adjusted EBITDA margin | 40.6 | % | 36.9 | % | ||||
Non-financial performance metrics(1) |
||||||||
| Average MAUs (000s) | 1,368 | 1,238 | ||||||
| Average DAUs (000s) | 632 | 608 | ||||||
| ARPDAU | $ | 1.34 | $ | 1.29 | ||||
| Average monthly revenue per payer | $ | 207 | $ | 276 | ||||
| Payer conversion | 9.7 | % | 6.9 | % | ||||
| Reconciliation of non-IFRS measures | Three months ended March 31, | |||||||
| (in millions, except percentages) | 2026 | 2025 | ||||||
Profit for the interim period |
$ | 35.4 | $ | 23.9 | ||||
Income tax expense |
9.1 | 8.9 | ||||||
| Profit before income tax | 44.5 | 32.8 | ||||||
| Adjustments for: | ||||||||
| Depreciation and amortization | 2.7 | 1.1 | ||||||
| Finance income | (9.7) | (4.6) | ||||||
| Finance cost | 0.6 | 1.5 | ||||||
| Other (income) expense, net | 0.1 | — | ||||||
| Adjusted EBITDA | $ | 38.2 | $ | 30.8 | ||||
| Adjusted EBITDA margin | 40.6 | % | 36.9 | % | ||||
| March 31, | December 31, | ||||||||||
| 2026 | 2025 | ||||||||||
| (unaudited) | |||||||||||
| Assets | |||||||||||
| Cash and cash equivalents | $ | 432,846 | $ | 388,891 | |||||||
| Short-term investments | 100,565 | 101,142 | |||||||||
| Accounts receivable, net | 28,194 | 32,017 | |||||||||
| Prepaid expenses and other assets | 3,362 | 5,523 | |||||||||
| Total current assets | $ | 564,967 | $ | 527,573 | |||||||
| Property and equipment, net | 1,024 | 1,084 | |||||||||
| Right-of-use assets, net | 4,994 | 4,273 | |||||||||
| Intangible assets, net | 76,702 | 79,866 | |||||||||
| Goodwill | 425,563 | 426,659 | |||||||||
| Deferred tax asset | — | 180 | |||||||||
| Other non-current assets | 1,021 | 906 | |||||||||
| Total non-current assets | $ | 509,304 | $ | 512,968 | |||||||
| Total assets | $ | 1,074,271 | $ | 1,040,541 | |||||||
| Liabilities and equity | |||||||||||
| Accounts payable and accrued expenses | $ | 23,411 | $ | 24,564 | |||||||
| Current lease liabilities | 1,962 | 1,444 | |||||||||
| Income taxes payable | 7,713 | 3,674 | |||||||||
| Contract liabilities | 1,494 | 1,861 | |||||||||
| Current portion of borrowings with related party | 33,038 | 34,846 | |||||||||
| Other current liabilities | 1,314 | 1,760 | |||||||||
| Total current liabilities | $ | 68,932 | $ | 68,149 | |||||||
| Long-term borrowings with related party | — | — | |||||||||
| Non-current lease liabilities | 3,655 | 3,309 | |||||||||
| Deferred tax liabilities | 19,945 | 17,360 | |||||||||
| Other non-current liabilities | 1,364 | 1,338 | |||||||||
| Total non-current liabilities | $ | 24,964 | $ | 22,007 | |||||||
| Total liabilities | $ | 93,896 | $ | 90,156 | |||||||
| Equity | |||||||||||
| Share capital | 21,198 | 21,198 | |||||||||
| Share premium | 359,280 | 359,280 | |||||||||
| Accumulated comprehensive loss | (10,316) | (4,904) | |||||||||
| Retained earnings | 610,009 | 574,623 | |||||||||
| Equity attributable to DoubleDown Interactive Co., Ltd. | $ | 980,171 | $ | 950,197 | |||||||
| Equity attributable to non-controlling interests | 204 | 188 | |||||||||
| Total equity | $ | 980,375 | $ | 950,385 | |||||||
| Total liabilities and equity | $ | 1,074,271 | $ | 1,040,541 | |||||||
| Three months ended March 31, | |||||||||||
| 2026 | 2025 | ||||||||||
| Revenue | $ | 94,122 | $ | 83,492 | |||||||
| Operating expenses: | |||||||||||
| Cost of revenue | (24,411) | (24,125) | |||||||||
| Sales and marketing | (17,407) | (14,138) | |||||||||
| Research and development | (3,716) | (2,492) | |||||||||
| General and administrative | (13,074) | (13,097) | |||||||||
| Other income | 34 | 40 | |||||||||
| Other expense | (142) | (49) | |||||||||
| Total operating expenses | $ | (58,716) | $ | (53,861) | |||||||
| Operating profit | $ | 35,406 | $ | 29,631 | |||||||
| Finance income | 9,677 | 4,612 | |||||||||
| Finance cost | (607) | (1,465) | |||||||||
| Profit before income tax | $ | 44,476 | $ | 32,778 | |||||||
| Income tax expense | (9,074) | (8,866) | |||||||||
| Profit for the interim period | $ | 35,402 | $ | 23,912 | |||||||
| Other comprehensive income (loss): | |||||||||||
| Pension adjustments, net of tax | 189 | 65 | |||||||||
| Gain (loss) on foreign currency translation | (5,601) | 1,470 | |||||||||
| Total comprehensive income for the interim period | $ | 29,990 | $ | 25,447 | |||||||
| Profit attributable to: | |||||||||||
| DoubleDown Interactive Co., Ltd. | 35,386 | 23,846 | |||||||||
| Non-controlling interests | 16 | 66 | |||||||||
| Total comprehensive income attributable to: | |||||||||||
| DoubleDown Interactive Co., Ltd. | 29,974 | 25,381 | |||||||||
| Non-controlling interests | 16 | 66 | |||||||||
| Earnings per share: | |||||||||||
| Basic | $ | 14.28 | $ | 9.62 | |||||||
| Diluted | $ | 14.28 | $ | 9.62 | |||||||
| Weighted average shares outstanding: | |||||||||||
| Basic | 2,477,672 | 2,477,672 | |||||||||
| Diluted | 2,477,672 | 2,477,672 | |||||||||
| Three months ended March 31, | |||||||||||
| 2026 | 2025 | ||||||||||
Cash flows from operating activities |
|||||||||||
Profit for the interim period |
$ | 35,402 | $ | 23,912 | |||||||
| Adjustments to reconcile profit to net cash from operating activities: | |||||||||||
Depreciation and amortization |
2,706 | 1,112 | |||||||||
Unrealized gain on foreign currency |
(2,851) | (207) | |||||||||
Unrealized loss on foreign currency |
32 | 336 | |||||||||
Gain on foreign currency transaction |
(242) | — | |||||||||
Gain on valuation of financial assets and liabilities |
(680) | (290) | |||||||||
Loss on valuation of financial assets and liabilities |
— | 11 | |||||||||
Interest income |
(4,220) | (3,806) | |||||||||
Interest expense |
476 | 449 | |||||||||
Miscellaneous expense |
92 | — | |||||||||
Provision for severance benefits |
103 | 108 | |||||||||
Other long-term employee benefits |
99 | 289 | |||||||||
Income tax expense |
9,074 | 8,866 | |||||||||
| Working capital adjustments: | |||||||||||
Accounts receivable, net |
3,784 | 1,383 | |||||||||
Prepaid expenses, and other assets |
317 | 518 | |||||||||
Other non-current assets |
50 | 53 | |||||||||
Accounts payable and accrued expenses |
(1,451) | 3,369 | |||||||||
Contract liabilities |
(367) | (341) | |||||||||
Other current and non-current liabilities |
(484) | (19) | |||||||||
| Cash generated from operations | $ | 41,840 | $ | 35,743 | |||||||
| Interest received | 4,902 | 6,180 | |||||||||
| Interest paid | (82) | (61) | |||||||||
| Income taxes paid | (266) | (742) | |||||||||
| Net cash inflow from operating activities | $ | 46,394 | $ | 41,120 | |||||||
| Cash flows from investing activities | |||||||||||
Purchase of property and equipment |
(36) | (120) | |||||||||
Disposal of financial assets at fair value through profit or loss |
44 | — | |||||||||
| Purchase of short-term investments | (90,840) | (141,081) | |||||||||
| Disposal of short-term investment | 89,823 | 131,221 | |||||||||
| Net cash (outflow) from investing activities | $ | (1,009) | $ | (9,980) | |||||||
| Cash flows from financing activities | |||||||||||
Repayment of lease liabilities |
(431) | (207) | |||||||||
Payment of dividends |
$ | — | $ | — | |||||||
| Net cash (outflow) from financing activities | $ | (431) | $ | (207) | |||||||
Net increase in cash and cash equivalents |
$ | 44,954 | $ | 30,933 | |||||||
| Effect of exchange rate changes on cash and cash equivalents | $ | (999) | $ | (119) | |||||||
Cash and cash equivalents at beginning of the interim period |
$ | 388,891 | $ | 334,850 | |||||||
Cash and cash equivalents at end of the interim period |
$ | 432,846 | $ | 365,664 | |||||||
| March 31, | December 31, | ||||||||||||||||
| Notes | 2026 | 2025 | |||||||||||||||
| (unaudited) | |||||||||||||||||
| Assets | |||||||||||||||||
| Cash and cash equivalents | 3 | $ | 432,846 | $ | 388,891 | ||||||||||||
| Short-term investments | 3 | 100,565 | 101,142 | ||||||||||||||
| Accounts receivable, net | 3 | 28,194 | 32,017 | ||||||||||||||
| Prepaid expenses and other assets | 3,362 | 5,523 | |||||||||||||||
| Total current assets | $ | 564,967 | $ | 527,573 | |||||||||||||
| Property and equipment, net | 1,024 | 1,084 | |||||||||||||||
| Right-of-use assets, net | 5,14 | 4,994 | 4,273 | ||||||||||||||
| Intangible assets, net | 4 | 76,702 | 79,866 | ||||||||||||||
| Goodwill | 4 | 425,563 | 426,659 | ||||||||||||||
| Deferred tax asset | — | 180 | |||||||||||||||
| Other non-current assets | 3,7 | 1,021 | 906 | ||||||||||||||
| Total non-current assets | $ | 509,304 | $ | 512,968 | |||||||||||||
| Total assets | $ | 1,074,271 | $ | 1,040,541 | |||||||||||||
| Liabilities and equity | |||||||||||||||||
| Accounts payable and accrued expenses | 3,14 | $ | 23,411 | $ | 24,564 | ||||||||||||
| Current lease liabilities | 3,5,14 | 1,962 | 1,444 | ||||||||||||||
| Income taxes payable | 7,713 | 3,674 | |||||||||||||||
| Contract liabilities | 1,494 | 1,861 | |||||||||||||||
| Current portion of borrowings with related party | 3,6,14 |
33,038 | 34,846 | ||||||||||||||
| Other current liabilities | 1,314 | 1,760 | |||||||||||||||
| Total current liabilities | $ | 68,932 | $ | 68,149 | |||||||||||||
| Long-term borrowings with related party | 3,6,14 | — | — | ||||||||||||||
| Non-current lease liabilities | 3,5,14 | 3,655 | 3,309 | ||||||||||||||
| Deferred tax liabilities | 19,945 | 17,360 | |||||||||||||||
| Other non-current liabilities | 1,364 | 1,338 | |||||||||||||||
| Total non-current liabilities | $ | 24,964 | $ | 22,007 | |||||||||||||
| Total liabilities | $ | 93,896 | $ | 90,156 | |||||||||||||
| Equity | |||||||||||||||||
| Share capital | 9 | 21,198 | 21,198 | ||||||||||||||
| Share premium | 9 | 359,280 | 359,280 | ||||||||||||||
| Accumulated comprehensive loss | (10,316) | (4,904) | |||||||||||||||
| Retained earnings | 610,009 | 574,623 | |||||||||||||||
| Equity attributable to DoubleDown Interactive Co., Ltd. | $ | 980,171 | $ | 950,197 | |||||||||||||
| Equity attributable to non-controlling interests | 204 | 188 | |||||||||||||||
| Total equity | $ | 980,375 | $ | 950,385 | |||||||||||||
| Total liabilities and equity | $ | 1,074,271 | $ | 1,040,541 | |||||||||||||
| Three months ended March 31, | |||||||||||||||||
| Notes | 2026 | 2025 | |||||||||||||||
| Revenue | 10,15 | $ | 94,122 | $ | 83,492 | ||||||||||||
| Operating expenses: | |||||||||||||||||
| Cost of revenue | 11,14 | (24,411) | (24,125) | ||||||||||||||
| Sales and marketing | 11 | (17,407) | (14,138) | ||||||||||||||
| Research and development | 11 | (3,716) | (2,492) | ||||||||||||||
| General and administrative | 11 | (13,074) | (13,097) | ||||||||||||||
| Other income | 34 | 40 | |||||||||||||||
| Other expense | (142) | (49) | |||||||||||||||
| Total operating expenses | (58,716) | (53,861) | |||||||||||||||
| Operating profit | $ | 35,406 | $ | 29,631 | |||||||||||||
| Finance income | 9,677 | 4,612 | |||||||||||||||
| Finance cost | (607) | (1,465) | |||||||||||||||
| Profit before income tax | $ | 44,476 | $ | 32,778 | |||||||||||||
| Income tax expense | 8 | (9,074) | (8,866) | ||||||||||||||
| Profit for the interim period | $ | 35,402 | $ | 23,912 | |||||||||||||
| Other comprehensive income (loss): | |||||||||||||||||
| Pension adjustments, net of tax | 189 | 65 | |||||||||||||||
| Gain (loss) on foreign currency translation | (5,601) | 1,470 | |||||||||||||||
| Total comprehensive income for the interim period | $ | 29,990 | $ | 25,447 | |||||||||||||
| Profit attributable to: | |||||||||||||||||
| DoubleDown Interactive Co., Ltd. | 35,386 | 23,846 | |||||||||||||||
| Non-controlling interests | 16 | 66 | |||||||||||||||
| Total comprehensive income attributable to: | |||||||||||||||||
| DoubleDown Interactive Co., Ltd. | 29,974 | 25,381 | |||||||||||||||
| Non-controlling interests | 16 | 66 | |||||||||||||||
| Earnings per share: | 12 | ||||||||||||||||
| Basic | $ | 14.28 | $ | 9.62 | |||||||||||||
| Diluted | $ | 14.28 | $ | 9.62 | |||||||||||||
| Attributable to DoubleDown Interactive Co., Ltd | |||||||||||||||||||||||||||||||||||||||||||||||
| Notes | Share capital |
Share premium |
Accumulated other comprehensive income (loss) |
Retained earnings |
Sub-total | Non - controlling interests |
Total equity |
||||||||||||||||||||||||||||||||||||||||
| As of January 1, 2025 | 9 |
$ | 21,198 | $ | 359,280 | $ | (10,688) | $ | 472,125 | $ | 841,915 | $ | 118 | $ | 842,033 | ||||||||||||||||||||||||||||||||
Comprehensive income (loss) for the interim period |
|||||||||||||||||||||||||||||||||||||||||||||||
Profit for the interim period |
— | — | — | 23,846 | 23,846 | 66 | 23,912 | ||||||||||||||||||||||||||||||||||||||||
| Other comprehensive income (loss) | — | — | 1,535 | — | 1,535 | — | 1,535 | ||||||||||||||||||||||||||||||||||||||||
| Sub-total of comprehensive income (loss) for the year | $ | — | $ | — | $ | 1,535 | $ | 23,846 | $ | 25,381 | $ | 66 | $ | 25,447 | |||||||||||||||||||||||||||||||||
| As of March 31, 2025 (unaudited) | 9 |
$ | 21,198 | $ | 359,280 | $ | (9,153) | $ | 495,971 | $ | 867,296 | $ | 184 | $ | 867,480 | ||||||||||||||||||||||||||||||||
| Transaction with owners, recognized directly in equity | |||||||||||||||||||||||||||||||||||||||||||||||
| As of January 1, 2026 | 9 |
$ | 21,198 | $ | 359,280 | $ | (4,904) | $ | 574,623 | $ | 950,197 | $ | 188 | $ | 950,385 | ||||||||||||||||||||||||||||||||
Comprehensive income (loss) for the interim period |
|||||||||||||||||||||||||||||||||||||||||||||||
Profit for the interim period |
— | — | — | 35,386 | 35,386 | 16 | 35,402 | ||||||||||||||||||||||||||||||||||||||||
| Other comprehensive income (loss) | — | — | (5,412) | — | (5,412) | — | (5,412) | ||||||||||||||||||||||||||||||||||||||||
Sub-total of comprehensive income (loss) for the interim period |
$ | — | $ | — | $ | (5,412) | $ | 35,386 | $ | 29,974 | $ | 16 | $ | 29,990 | |||||||||||||||||||||||||||||||||
| As of March 31, 2026 (unaudited) | 9 |
$ | 21,198 | $ | 359,280 | $ | (10,316) | $ | 610,009 | $ | 980,171 | $ | 204 | $ | 980,375 | ||||||||||||||||||||||||||||||||
| Three months ended March 31, | |||||||||||||||||
| Notes | 2026 | 2025 | |||||||||||||||
Cash flows from operating activities |
|||||||||||||||||
Profit for the interim period |
$ | 35,402 | $ | 23,912 | |||||||||||||
| Adjustments to reconcile profit to net cash from operating activities: | |||||||||||||||||
Depreciation and amortization |
4,5,11,15 |
2,706 | 1,112 | ||||||||||||||
Unrealized gain on foreign currency |
3 |
(2,851) | (207) | ||||||||||||||
Unrealized loss on foreign currency |
3 |
32 | 336 | ||||||||||||||
Gain on foreign currency transaction |
3 |
(242) | — | ||||||||||||||
Gain on valuation of financial assets and liabilities |
3 |
(680) | (290) | ||||||||||||||
Loss on valuation of financial assets and liabilities |
3 |
— | 11 | ||||||||||||||
Interest income |
3 |
(4,220) | (3,806) | ||||||||||||||
Interest expense |
3 |
476 | 449 | ||||||||||||||
Miscellaneous expense |
92 | — | |||||||||||||||
Provision for severance benefits |
7 |
103 | 108 | ||||||||||||||
Other long-term employee benefits |
99 | 289 | |||||||||||||||
Income tax expense |
9,074 | 8,866 | |||||||||||||||
| Working capital adjustments: | |||||||||||||||||
Accounts receivable, net |
3,784 | 1,383 | |||||||||||||||
Prepaid expenses, and other assets |
317 | 518 | |||||||||||||||
Other non-current assets |
50 | 53 | |||||||||||||||
Accounts payable and accrued expenses |
(1,451) | 3,369 | |||||||||||||||
Contract liabilities |
(367) | (341) | |||||||||||||||
Other current and non-current liabilities |
(484) | (19) | |||||||||||||||
| Cash generated from operations | $ | 41,840 | $ | 35,743 | |||||||||||||
| Interest received | 4,902 | 6,180 | |||||||||||||||
| Interest paid | (82) | (61) | |||||||||||||||
| Income taxes paid | (266) | (742) | |||||||||||||||
| Net cash inflow from operating activities | $ | 46,394 | $ | 41,120 | |||||||||||||
| Cash flows from investing activities | |||||||||||||||||
Purchase of property and equipment |
(36) | (120) | |||||||||||||||
Disposal of financial assets at fair value through profit or loss |
44 | — | |||||||||||||||
| Purchase of short-term investments | (90,840) | (141,081) | |||||||||||||||
| Disposal of short-term investment | 89,823 | 131,221 | |||||||||||||||
| Net cash (outflow) from investing activities | $ | (1,009) | $ | (9,980) | |||||||||||||
| Cash flows from financing activities | |||||||||||||||||
Repayment of lease liabilities |
(431) | (207) | |||||||||||||||
Payment of dividends |
$ | — | $ | — | |||||||||||||
| Net cash (outflow) from financing activities | $ | (431) | $ | (207) | |||||||||||||
Net increase in cash and cash equivalents |
$ | 44,954 | $ | 30,933 | |||||||||||||
| Effect of exchange rate changes on cash and cash equivalents | $ | (999) | $ | (119) | |||||||||||||
Cash and cash equivalents at beginning of the interim period |
$ | 388,891 | $ | 334,850 | |||||||||||||
Cash and cash equivalents at end of the interim period |
$ | 432,846 | $ | 365,664 | |||||||||||||
| March 31, 2026 | ||||||||
Financial assets at fair value through profit or loss |
Financial assets measured at amortized cost |
|||||||
| Current assets | ||||||||
| Cash and cash equivalents | $ | — | $ | 432,846 | ||||
| Short-term investments | — | 100,565 | ||||||
| Accounts receivable, net | — | 28,194 | ||||||
| Total | $ | — | $ | 561,605 | ||||
| Non-current assets | ||||||||
| Financial assets at fair value through profit or loss | 434 | — | ||||||
| Total | $ | 434 | $ | — | ||||
| December 31, 2025 | ||||||||
| Financial assets at fair value through profit or loss | Financial assets measured at amortized cost | |||||||
| Current assets | ||||||||
| Cash and cash equivalents | $ | — | $ | 388,891 | ||||
| Short-term investments | — | 101,142 | ||||||
| Accounts receivable, net | — | 32,017 | ||||||
| Accrued income | — | 948 | ||||||
| Financial assets at fair value through profit or loss | 45 | — | ||||||
| Total | $ | 45 | $ | 522,998 | ||||
| Non-current assets | ||||||||
| Financial assets at fair value through profit or loss | 437 | — | ||||||
| Total | $ | 437 | $ | — | ||||
| March 31, 2026 | ||||||||
Financial liabilities at fair value through profit or loss |
Financial liabilities measured
at amortized cost
|
|||||||
Current liabilities |
||||||||
| Accounts payable | $ | — | $ | 4,804 | ||||
Accrued expenses (1) |
— | 16,443 | ||||||
| Current lease liabilities | — | 1,962 | ||||||
Current portion of borrowings with related party |
— | 33,038 | ||||||
| Total | $ | — | $ | 56,247 | ||||
Non-current liabilities |
||||||||
| Non-current lease liabilities | — | 3,655 | ||||||
| Total | $ | — | $ | 3,655 | ||||
December 31, 2025 |
||||||||
Financial liabilities at fair value through profit or loss |
Financial liabilities measured at amortized cost |
|||||||
Current liabilities |
||||||||
| Accounts payable | $ |
— |
$ |
17,080 |
||||
Accrued expenses (1) |
— |
4,583 |
||||||
| Current lease liabilities | — |
1,444 |
||||||
Current portion of borrowings with related party |
— |
34,846 | ||||||
Total |
$ |
— |
$ |
57,953 |
||||
Non-current liabilities |
||||||||
| Non-current lease liabilities | — |
3,309 |
||||||
| Long-term borrowings with related party | — |
— |
||||||
| Total | $ |
— |
$ |
3,309 |
||||
| March 31, 2026 | ||||||||||||||
| Level 1 | Level 2 | Level 3 | Total | |||||||||||
| Financial assets and liabilities at fair value through profit or loss | ||||||||||||||
| Financial assets | $ | — | $ | — | $ | 434 | $ | 434 | ||||||
| December 31, 2025 | ||||||||||||||
| Level 1 | Level 2 | Level 3 | Total | |||||||||||
| Financial assets and liabilities at fair value through profit or loss | ||||||||||||||
| Financial assets | $ | — | $ | 45 | $ | 437 | $ | 482 | ||||||
| March 31, 2026 | December 31, 2025 | Level | Valuation techniques | |||||||||||
| Capital contribution to cooperatives | $ | 434 | $ | 437 | 3 | Market-based fair value approach | ||||||||
| Derivative instruments (Money Market Trust) | $ | — | $ | 45 | 2 | Discounted Cash Flow Method |
||||||||
| Three months ended March 31, | ||||||||
| (in thousands) | 2026 | 2025 | ||||||
| Financial assets at fair value through profit or loss | ||||||||
Gain on valuation of financial assets |
$ | 20 | $ | 290 | ||||
| Unrealized gain on foreign currency | — | — | ||||||
| Loss on valuation of financial assets | — | — | ||||||
| Gains (losses) on disposal | 660 | — | ||||||
| Sub-total | $ | 680 | $ | 290 | ||||
| Financial assets at amortized cost | ||||||||
| Interest income | 4,220 | 3,806 | ||||||
Gain on foreign currency transactions |
1,923 | 309 | ||||||
| Unrealized gain on foreign currency | 2,851 | 207 | ||||||
Loss on foreign currency transactions |
(99) | (31) | ||||||
| Unrealized loss on foreign currency | (32) | (336) | ||||||
| Sub-total | $ | 8,863 | $ | 3,955 | ||||
| Total | $ | 9,543 | $ | 4,245 | ||||
Financial liabilities at fair value through profit or loss |
||||||||
Loss on valuation of financial liabilities |
$ | — | $ | (11) | ||||
Sub-total |
$ | — | $ | (11) | ||||
| Financial liabilities at amortized cost | ||||||||
| Interest expense | (476) | (449) | ||||||
Gain on foreign currency transactions |
2 | — | ||||||
| Unrealized gain on foreign currency | — | — | ||||||
Loss on foreign currency transactions |
— | (638) | ||||||
Sub-total |
$ | (474) | $ | (1,087) | ||||
| Total | $ | (474) | $ | (1,098) | ||||
| March 31, 2026 | |||||||||||||||||||||||
| Goodwill | Trademarks | Customer relationships |
Purchased technology |
Software | Gaming License | Total | |||||||||||||||||
| Balance at January 1, 2026 | $ | 426,659 | $ | 35,455 | $ | 4,529 | $ | 6,081 | $ | 3,485 | $ | 30,316 | $ | 506,525 | |||||||||
| Amortization | — | (32) | (615) | (193) | (275) | (1,019) | (2,134) | ||||||||||||||||
| Translation differences | (1,096) | (9) | (96) | (141) | (79) | (705) | (2,126) | ||||||||||||||||
| Ending balance | $ | 425,563 | $ | 35,414 | $ | 3,818 | $ | 5,747 | $ | 3,131 | $ | 28,592 | $ | 502,265 | |||||||||
| March 31, 2025 | |||||||||||||||||||||||
| Goodwill | Trademarks | Customer relationships |
Purchased technology |
Software | Gaming License | Total | |||||||||||||||||
| Balance at January 1, 2025 | $ | 395,804 | $ | 35,009 | $ | 6,197 | $ | 6,072 | $ | 28 | $ | 360 | $ | 443,470 | |||||||||
| Amortization | — | (1) | (553) | (174) | (3) | (23) | (754) | ||||||||||||||||
| Translation differences | 596 | — | 230 | 235 | — | 13 | 1,074 | ||||||||||||||||
| Ending balance | $ | 396,400 | $ | 35,008 | $ | 5,874 | $ | 6,133 | $ | 25 | $ | 350 | $ | 443,790 | |||||||||
| Right-of-use assets | Lease liabilities | |||||||
| Office | ||||||||
| Balance at January 1, 2026 | $ | 4,273 | $ | 4,753 | ||||
| Acquisitions | 1,317 | 1,452 | ||||||
| Depreciation | (490) | — | ||||||
| Interest expense relating to lease liabilities | — | 83 | ||||||
| Payments of lease liabilities | — | (513) | ||||||
| Translation differences | (106) | (158) | ||||||
| Balance at March 31, 2026 | $ | 4,994 | $ | 5,617 | ||||
| Right-of-use assets | Lease liabilities | |||||||
| Office | ||||||||
| Balance at January 1, 2025 | $ | 4,308 | $ | 4,673 | ||||
Depreciation |
(283) | — | ||||||
| Interest expense relating to lease liabilities | — | 61 | ||||||
| Payments of lease liabilities | — | (269) | ||||||
| Translation differences | 21 | 21 | ||||||
| Balance at March 31, 2025 | $ | 4,046 | $ | 4,486 | ||||
| Interest rate | Maturity | March 31, 2026 | December 31, 2025 | |||||||||||
Current portion of borrowings with related party (1) |
4.60% | May 27, 2026 |
$ | 33,038 | $ | 34,846 | ||||||||
| March 31, 2026 | December 31, 2025 | |||||||
| Present value of defined benefit obligations | $ | 1,911 | $ | 2,189 | ||||
| Fair value of plan assets | (2,283) | (2,440) | ||||||
| Net defined benefit liabilities (assets) | $ | (372) | $ | (251) | ||||
| Common shares | Share capital | Share premium | Total | |||||||||||
| Balance at January 1, 2025 | 2,477,672 | $ | 21,198 | $ | 359,280 | $ | 380,478 | |||||||
| Balance at March 31, 2025 | 2,477,672 | $ | 21,198 | $ | 359,280 | $ | 380,478 | |||||||
| Balance at January 1, 2026 | 2,477,672 | $ | 21,198 | $ | 359,280 | $ | 380,478 | |||||||
| Balance at March 31, 2026 | 2,477,672 | $ | 21,198 | $ | 359,280 | $ | 380,478 | |||||||
| Three months ended March 31, | ||||||||
| 2026 | 2025 | |||||||
Type of service (1) |
||||||||
| Social casino game | $ | 76,946 | $ | 70,281 | ||||
Geographic market (1) |
||||||||
| U.S. | 57,468 | 61,014 | ||||||
| International | 19,478 | 9,267 | ||||||
| Total | $ | 76,946 | $ | 70,281 | ||||
Timing of revenue recognition (1) |
||||||||
| Over time | 76,805 | 70,203 | ||||||
| At a point in time | 141 | 78 | ||||||
Total (1) |
$ | 76,946 | $ | 70,281 | ||||
| Three months ended March 31, | ||||||||
| 2026 | 2025 | |||||||
| Third-Party Platforms | $ | 42,968 | $ | 61,284 | ||||
Direct-to-Consumers (1) |
33,978 | 8,997 | ||||||
Total (2) |
$ | 76,946 | $ | 70,281 | ||||
| March 31, 2026 | December 31, 2025 | |||||||
Contract assets (1) |
$ | 421 | $ | 518 | ||||
Contract liabilities (2) |
1,494 | 1,861 | ||||||
| Three months ended March 31, | ||||||||
| 2026 | 2025 | |||||||
| Personnel expenses | $ | 6,431 | $ | 7,928 | ||||
| Depreciation and amortization | 2,216 | 829 | ||||||
| Depreciation of right-of-use assets | 490 | 283 | ||||||
| Taxes and dues | 3,939 | 3,899 | ||||||
| Fees and commissions | 28,471 | 27,700 | ||||||
| Advertising expenses | 15,100 | 12,540 | ||||||
| Other expenses | 1,961 | 673 | ||||||
Total (1) |
$ | 58,608 | $ | 53,852 | ||||
| Three months ended March 31, | ||||||||
| 2026 | 2025 | |||||||
| Numerator: | ||||||||
| Profit applicable to DoubleDown Interactive Co., Ltd. | $ | 35,386 | $ | 23,846 | ||||
| Weighted average shares outstanding - basic | 2,477,672 | 2,477,672 | ||||||
| Basic earnings per share | $ | 14.28 | $ | 9.62 | ||||
| Relationship | Company name | ||||
| Controlling shareholder | DoubleU Games Co., Ltd | ||||
| Three months ended March 31, | ||||||||
| 2026 | 2025 | |||||||
| Royalty expense | $ | 1,013 | $ | 446 | ||||
| Other expense | 1,384 | 1,793 | ||||||
| March 31, 2026 | December 31, 2025 | |||||||
| Accounts payable and accrued expenses | $ | 1,815 | $ | 1,571 | ||||
| Other receivables | 6 | 6 | ||||||
| March 31, 2026 | December 31, 2025 | |||||||
4.6% Senior notes with related party |
$ | 33,038 | $ | 34,846 | ||||
Accrued interest on 4.6% Senior Notes with related party |
2,804 | 2,562 | ||||||
| Three months ended March 31, | ||||||||
| 2026 | 2025 | |||||||
| Interest expense | $ | 387 | $ | 390 | ||||
| March 31, 2026 | December 31, 2025 | |||||||
| Right-of-use assets | $ | 2,647 | $ | 1,682 | ||||
| Lease liabilities | 2,837 | 1,797 | ||||||
| Three months ended March 31, | ||||||||
| 2026 | 2025 | |||||||
| Payments | $ | 312 | $ | 169 | ||||
| Interest expenses | 30 | 25 | ||||||
| Three months ended March 31, | ||||||||
| 2026 | 2025 | |||||||
| Revenue: | ||||||||
| Social casino games | $ | 76,946 | $ | 70,281 | ||||
| iGaming | 17,176 | 13,211 | ||||||
| Total Revenue | $ | 94,122 | $ | 83,492 | ||||
| Advertising expenses: | ||||||||
| Social casino games | $ | 9,134 | $ | 7,474 | ||||
| iGaming | 5,966 | 5,066 | ||||||
| Total advertising expenses | $ | 15,100 | $ | 12,540 | ||||
| Depreciation and amortization (including right-of-use assets): | ||||||||
| Social casino games | $ | 1,806 | $ | 303 | ||||
| iGaming | 900 | 809 | ||||||
| Total depreciation and amortization (including right-of-use assets) | $ | 2,706 | $ | 1,112 | ||||
| Interest income: | ||||||||
| Social casino games | $ | 4,220 | $ | 3,806 | ||||
| iGaming | — | — | ||||||
| Total interest income | $ | 4,220 | $ | 3,806 | ||||
| Interest expense: | ||||||||
| Social casino games | $ | 476 | $ | 447 | ||||
| iGaming | — | 2 | ||||||
| Total interest expense | $ | 476 | $ | 449 | ||||
| Profit before income tax: | ||||||||
| Social casino games | $ | 44,724 | $ | 33,755 | ||||
| iGaming | (248) | (977) | ||||||
| Total profit before income tax | $ | 44,476 | $ | 32,778 | ||||
| Three months ended March 31, | ||||||||
| 2026 | 2025 | |||||||
| U.S. | $ | 57,468 | $ | 61,014 | ||||
| Canada | 4,522 | 4,550 | ||||||
| United Kingdom | 16,646 | 12,213 | ||||||
| Germany | 8,101 | 230 | ||||||
| International-other | 7,385 | 5,485 | ||||||
| Total | $ | 94,122 | $ | 83,492 | ||||
| March 31, 2026 | December 31, 2025 | |||||||
| Korea | $ | 3,148 | $ | 2,084 | ||||
| U.S. | 418,685 | 416,102 | ||||||
| Europe | 87,036 | 94,165 | ||||||
Total (1) |
$ | 508,869 | $ | 512,351 | ||||
| Ⅰ. Total purchase consideration | $ | 64,302 | |||
Ⅱ. Identifiable Assets and liabilities, net |
27,628 | ||||
| Cash and cash equivalents | 2,714 | ||||
| Accounts receivable | 4,409 | ||||
| Prepaid expenses, and other assets | 164 | ||||
| Intangible assets | 36,205 | ||||
| Property and equipment | 255 | ||||
| Right-of-use assets | 1,163 | ||||
| Deferred tax assets | 188 | ||||
| Other non-current assets | 193 | ||||
| Accounts payable and other payables | (3,930) | ||||
| Income taxes payable | (2,350) | ||||
| Lease liabilities | (1,232) | ||||
| Other current liabilities | (498) | ||||
| Deferred tax liabilities | (9,653) | ||||
Ⅲ. Goodwill (Ⅰ-Ⅱ) |
$ | 36,674 | |||