DoubleDown Interactive Co., Ltd.

Good afternoon and welcome to Double Down Interactive's earnings conference call for the second quarter ended June 30th, 2026. My name is Liz and I will be your operator this afternoon. Prior to this call, Double Down issued its financial results for the second quarter of 2026 in a press release, a copy of which is available in the investor relations section of the company's website at www.doubledowninteractive.com. You can find the link to the investor relations section at the top of the homepage. Joining us on today's call are Double Down's CEO, Mr. In Keuk Kim, and its CFO, Mr. Joe Sigrist. Following their remarks, we will open the call for questions. Before we begin, Joe Jaffoni, the company's investor relations advisor, will make a brief introductory statement. Mr. Jaffoni?

Thank you, Liz. 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 such similar terms. Forward-looking statements include and are not limited to those regarding the company's future plans, mergers and acquisition 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 the company expects. Therefore, you should exercise caution in interpreting and relying on them. We refer you to Double Down's Annual Report on Form 20-F filed with the SEC on March 31, 2026 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 today's call, management will discuss non-IFRS financial measures which management believes 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 IFRS. Full reconciliation of these measures to the most directly comparable IFRS measure is available in the earnings release issued this afternoon. In addition, on April 29, 2026, Double Down issued a press release acknowledging the receipt of a non-binding expression of interest from W Games, its controlling shareholder, to acquire all the outstanding Double Down common shares, including ADRs not currently owned by them, at a price of $11.25 per ADS in cash. As noted in that press release, the company has formed a special committee to evaluate and negotiate with the controlling shareholder and determine the next steps that would be in the best interest of the company and its unaffiliated shareholders. As a result of this ongoing process, the company has no additional updates or further comments to discuss on today's call. I would like to remind everyone that today's call is being recorded and will be made available for replay via a link in the investor relations section of Double Down's website. Thank you for your patience with that, and it's now my pleasure to turn the call over to Double Down's CEO, Ike Kim. Please go ahead.

Thank you, Joe. Good afternoon, everyone. We are delighted to be with you today to discuss Double Down Interactive's second quarter 2026 results. Key highlights include Delivering revenue consistency and resiliency as we execute on our growth and geographical diversification strategies marked by solid contributions across both social casino and iGaming. Delivering a record contribution of over 50% of our total social casino revenue from direct-to-consumer payer activity and delivering another quarter of strong profitability and significant free cash flow generation. These results further reinforce our confidence in our business model as we drive operational excellence across our portfolio. Let's start with the financial results. This afternoon we reported second quarter consolidated revenue of $94.3 million up approximately 11% year-over-year. This top-line growth helped drive second quarter adjusted EBITDA of $39.3 million, marking 17% year-over-year growth. In Q2, we extended our track record of driving a high conversion of revenue to profit and cash flow. Net cash flow from operations was $24.6 million, in the quarter, up 25% from the same period one year ago. As a result, we generated a total of $71 million in net cash flow from operations for the first half of 2026. Our social casino segment remains the primary engine of Double Down's profit and cash flow generation. In the second quarter, Social casino revenue grew 11.5% year-over-year to $77.3 million, driven by the contribution from VOW gains, as well as the strong performance of Double Down's traditional social casino business. A key highlight this quarter is the continued growth of our direct-to-consumer or DTC component, a major contributor to our strong growth in profitability. In the second quarter, DTC accounted for 52% of total social casino revenue compared to just over 15% in the second quarter of 2025 and 44% in the first quarter of 2026. At the same time, industry analysts at Eilers and Credit recently forecast that the global social casino market will decline over 5% in 2026. That said, our focus continues to be on outperforming the overall market through precise execution of our product development initiatives around player and payer retention, optimization of marketing and live ops activities to maximize payer conversion and purchasing activity, and continued maximization of the direct-to-consumer opportunity. Turning to our iGaming business, SuperNation's Q2 2026 revenue was $17 million, an increase of 10% year-over-year. Our newest iGaming casino title, Las Vegas, again contributed to the strong SuperNation result in the quarter. During the second quarter, the SuperNation team did an excellent job in managing around the recently introduced higher UK gambling tax rate through a combination of product changes, marketing adjustments, and expense controls. This allowed our iGaming business to effectively mitigate much of the impact of tax increase. Our second quarter results highlight how prudent We are successfully integrating previous acquisitions while optimizing our core Double Down business. M&A remains a strategic priority as we continue to evaluate opportunities in online gaming and mobile entertainment that meet our criteria to enhance long-term shareholders' value. Now, I turn the call over to our CFO, Joseph Sigrist, to walk us through the financials before providing my closing remarks. Joseph? Thank you, IK, and good afternoon, everyone.