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PlayAGS Q2 loss widens 57.7% YOY

PlayAGS Inc. said its second-quarter normalized net income amounted to a loss of 55 cents per share, compared with a loss of 35 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $12.7 million, compared with a loss of $8.0 million in the year-earlier period.

The normalized profit margin increased to negative 29.7% from negative 30.5% in the year-earlier period.

Total revenue rose 62.1% year over year to $42.6 million from $26.3 million, and total operating expenses rose 52.7% on an annual basis to $46.8 million from $30.6 million.

Reported net income came to a loss of $18.8 million, or a loss of 81 cents per share, compared to income of $2.8 million, or 12 cents per share, in the year-earlier period.