DoubleDown Interactive Co., Ltd.

Good afternoon and welcome to Double Down Interactive Earnings Conference call for the fourth quarter and full year 2021 financial results ended December 31st, 2021. My name is Livia and I will be your operator this afternoon. Before this call, Double Down issues financial results for the fourth quarter and full year 2021 in a press release, a copy of which has been furnished in a report form 6K filed with the SEC Commission. and is available in the investor relations section of the company's website at www.doubledowninteractive.com. You can find a link to the investor relations section at the top of the homepage. Joining us on today's call are Double Down CEO, Mr. Imco Kim, and CFO, Mr. Joe Sigris. Following their remarks, we will open the call for questions. Before we begin, Mr. Graham, the company outside investor relations advisor, We'll make a brief introductory statement. Mr. Grant?

Thank you. Before management begins their formal remarks, we need to remind everyone that some of management's comments today will be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and we hereby claim the protection of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements about future events and include expectations and projections, not present or historical facts, and can be identified by the use of words such as may, might, will, expect, assume, believe, intend, estimate, continue, should, anticipate, or other similar terms. Forward-looking statements include and are not limited to those regarding our future plans, mergers and acquisitions strategy, strategic and financial objectives, expected performance, and financial outlook. Forward-looking statements are subject to numerous risks and uncertainties that could cause actual results to differ materially and adversely from what we expect. Therefore, you should exercise caution in interpreting and relying on them. We refer you to Double Dan's annual report on Form 20F and other SEC filings for a more detailed discussion of the risks that could impact future operating results and financial condition. These forward-looking statements are made only as of the date of this call. The company does not undertake and expressly disclaims any obligation to update or alter the forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. During the call, management will discuss non-GAAP measures, which are believed to be useful in evaluating the company's operating performance. These measures should not be considered superior to, in isolation, or as a substitute for the financial results prepared in accordance with GAAP. A full reconciliation of these measures to the most directly comparable GAAP measure is available in the earnings release. and on our form 6K filed with the SEC prior to this call. I would like to remind everyone that this call is being recorded and will be made available for replay via a link available in the investor relations section of Double Down's website. Now I would like to turn the call over to Double Down's CEO, Mr. Inko Kim.

Thank you, Jeff. Good afternoon, everyone. Thank you for joining us on the on-in call for our Q4 and full-year 2021 results. In the first quarter of 2021, we continue to execute on our strategy to both leverage our leadership in the social casino genre through our flagship Double Down Casino and if pan through the launch of gaming apps adjacent to social casino. Q4 revenue was down slightly from the Q3 2021 results consistent with our understanding of the performance of the overall social casino gaming industry. To maximize the ongoing opportunity in social casino games, we plan to continue to release exciting new slot games within Double Down Casino every one to two weeks, as well as to integrate new meta features focused on further improving our industry rating monetization metrics. We finished a successful 2021 by growing revenue to a record of over $363 million, which represents 33% growth compared to 2019 results. Adjusted EBITDA at approximately $120 million remains relatively stable compared to 2020 and represents growth of 18% compared to our 2019 results. I highlight 2019 since 2020 represents a difficult comparable period for this year, given the worldwide state at home measures that significantly benefited our business, especially at the onset of the COVID-19 pandemic. The fact that our 2021 results were material better than our 2019 results, demonstrates the value of our platform and importance of the ongoing player engagement with our game. Throughout 2021 and inclusive of the first quarter, we continued our long swing of cash flow positive quarters with $20.4 million in net operating cash flow for Q4 and $96.1 million for the full year. As a result, we ended the first quarter with a cash balance of $242.1 million, giving us a strong financial position. Importantly, we believe our business model will continue to generate positive free cash flow each quarter. Now I will turn it over to our CFO, Joe Sigris, to walk you through our financiers before providing my closing remarks. Joe? Thank you, I.K., and good afternoon, everyone.