• Q1 2025 revenue of $774 million, up 2.4% year-over-year
• Adjusted EBITDA of $261 million, up 3.1% year-over-year
• Net income of $82 million, flat year-over-year

Light & Wonder Inc. (LNW.ASX) announced its financial results for the first quarter ended March 31, 2025. Total revenue increased 2.4% year-over-year to $774 million, driven by growth in both services and products revenue. Services revenue grew 1.9% to $527 million, while products revenue increased 3.3% to $247 million. Adjusted EBITDA rose 3.1% to $261 million, with the Adjusted EBITDA margin expanding slightly to 33.7%. Net income was flat at $82 million compared to the prior year period. The company continued to focus on executing its strategic initiatives, including the integration of the recently acquired Grover Charitable Gaming business. During the quarter, the company also made progress on its digital transformation efforts and saw strong performance in its international markets. Looking ahead, the company remains cautiously optimistic about the gaming industry's recovery and is well-positioned to capitalize on emerging opportunities.

For the full year 2025, the company expects revenue in the range of $3.1 billion to $3.2 billion and adjusted EBITDA between $1.05 billion and $1.10 billion.

The company is optimistic about the gaming industry's recovery and believes it is well-positioned to capitalize on emerging opportunities. The company will continue to focus on executing its strategic initiatives, including the integration of the Grover Charitable Gaming business and its digital transformation efforts.