Flutter Entertainment Reports Fourth Quarter 2024 Financial Results

Core Insights - Flutter Entertainment reported strong financial results for Q4 and full year 2024, with significant growth in revenue, net income, and adjusted EBITDA, positioning the company well for 2025 [1][4][5] Financial Performance - Q4 2024 revenue reached $3,792 million, a 14$14,048 million, up 19% year-over-year [2][4] - Average monthly players (AMPs) increased by 7% in Q4 and 13% for the full year, reaching 14,605,000 in Q4 [2][4] - Net income for Q4 was $156 million, a significant turnaround from a net loss of$902 million in Q4 2023, and full year net income was $162 million compared to a loss of$1,211 million the previous year [2][4][30] - Adjusted EBITDA for Q4 was $655 million, a 4$2,357 million [2][4] Market Position and Strategy - Flutter's FanDuel brand solidified its position as the number one operator in both sportsbook and iGaming in the US, with a market share of 36% in online gross gaming revenue [4][16] - The company expanded its international portfolio, adding MaxBet and achieving substantial growth in key markets such as the UK and Italy [4][12] - Flutter's strategic focus on product innovation and customer engagement led to a record sportsbook structural gross revenue margin of 14.5% and a 43% increase in iGaming revenue [6][20] Cash Flow and Capital Management - Net cash provided by operating activities increased by 67% year-over-year to $652 million, while free cash flow surged by 175$473 million [2][35] - The company initiated a share repurchase program, returning $121 million in Q4 2024, with plans to return up to$1 billion to shareholders in 2025 [4][51] 2025 Guidance - For 2025, Flutter anticipates revenue growth of 13% and adjusted EBITDA growth of 34% at the midpoint, with existing state revenue expected to reach $7.72 billion, representing a 33$40 million and an adjusted EBITDA cost of $90 million [10][55]