Light & Wonder, Inc. (LNW) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 | Q1'21 | Q4'20 |
|---|
| Sales/Revenue | 841M | 809M | 774M | 797M | 817M | 818M | 756M | 771M | 731M | 731M | 670M | 682M | 648M | 610M | 572M | 581M | 539M | 581M | 453M | 762M |
| Revenue Growth % | 2.94% | -1.1% | 2.38% | 3.37% | 11.76% | 11.9% | 12.84% | 13.05% | 12.81% | 19.84% | 17.13% | 17.38% | 20.22% | 4.99% | 26.27% | -23.75% | 24.77% | 7.79% | -37.52% | -11.7% |
| Cost of Goods Sold | 217M | 219M | 211M | 231M | 246M | 236M | 219M | 234M | 218M | 218M | 202M | 204M | 193M | 180M | 160M | 170M | 153M | 159M | 127M | 320M |
| COGS % of Revenue | 25.8% | 27.07% | 27.26% | 28.98% | 30.11% | 28.85% | 28.97% | 30.35% | 29.82% | 29.82% | 30.15% | 29.91% | 29.78% | 29.51% | 27.97% | 29.26% | 28.39% | 27.37% | 28.04% | 41.99% |
| Gross Profit | 624M | 590M | 563M | 566M | 571M | 582M | 537M | 537M | 513M | 513M | 468M | 478M | 455M | 430M | 412M | 411M | 386M | 422M | 326M | 442M |
| Gross Margin % | 74.2% | 72.93% | 72.74% | 71.02% | 69.89% | 71.15% | 71.03% | 69.65% | 70.18% | 70.18% | 69.85% | 70.09% | 70.22% | 70.49% | 72.03% | 70.74% | 71.61% | 72.63% | 71.96% | 58.01% |
| Gross Profit Growth % | 9.28% | 1.37% | 4.84% | 5.4% | 11.31% | 13.45% | 14.74% | 12.34% | 12.75% | 19.3% | 13.59% | 16.3% | 17.88% | 1.9% | 26.38% | -7.01% | 37.86% | 49.65% | -24.36% | -15.65% |
| Operating Expenses | 395M | 388M | 393M | 398M | 412M | 407M | 372M | 381M | 366M | 400M | 366M | 380M | 366M | 384M | 372M | 407M | 352M | 354M | 322M | 380M |
| OpEx % of Revenue | 46.97% | 47.96% | 50.78% | 49.94% | 50.43% | 49.76% | 49.21% | 49.42% | 50.07% | 54.72% | 54.63% | 55.72% | 56.48% | 62.95% | 65.03% | 70.05% | 65.31% | 60.93% | 71.08% | 49.87% |
| Selling, General & Admin | 219M | 208M | 217M | 215M | 220M | 220M | 218M | 209M | 204M | 203M | 192M | 182M | 181M | 179M | 175M | 177M | 164M | 180M | 159M | 188M |
| SG&A % of Revenue | 26.04% | 25.71% | 28.04% | 26.98% | 26.93% | 26.89% | 28.84% | 27.11% | 27.91% | 27.77% | 28.66% | 26.69% | 27.93% | 29.34% | 30.59% | 30.46% | 30.43% | 30.98% | 35.1% | 24.67% |
| Research & Development | 62M | 64M | 65M | 68M | 66M | 66M | 62M | 60M | 55M | 58M | 54M | 55M | 56M | 56M | 53M | 50M | 47M | 48M | 45M | 43M |
| R&D % of Revenue | 7.37% | 7.91% | 8.4% | 8.53% | 8.08% | 8.07% | 8.2% | 7.78% | 7.52% | 7.93% | 8.06% | 8.06% | 8.64% | 9.18% | 9.27% | 8.61% | 8.72% | 8.26% | 9.93% | 5.64% |
| Other Operating Expenses | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Operating Income | 229M | 202M | 170M | 168M | 159M | 175M | 165M | 156M | 147M | 113M | 102M | 98M | 89M | 46M | 40M | 4M | 34M | 68M | 4M | 62M |
| Operating Margin % | 27.23% | 24.97% | 21.96% | 21.08% | 19.46% | 21.39% | 21.83% | 20.23% | 20.11% | 15.46% | 15.22% | 14.37% | 13.73% | 7.54% | 6.99% | 0.69% | 6.31% | 11.7% | 0.88% | 8.14% |
| Operating Income Growth % | 44.03% | 15.43% | 3.03% | 7.69% | 8.16% | 54.87% | 61.76% | 59.18% | 65.17% | 145.65% | 155% | 2350% | 161.76% | -32.35% | 900% | -93.55% | 213.33% | 221.43% | 112.5% | -59.21% |
| EBITDA | 337M | 301M | 261M | 265M | 249M | 262M | 251M | 242M | 237M | 221M | 203M | 201M | 191M | 153M | 148M | 113M | 130M | 164M | 101M | 202M |
| EBITDA Margin % | 40.07% | 37.21% | 33.72% | 33.25% | 30.48% | 32.03% | 33.2% | 31.39% | 32.42% | 30.23% | 30.3% | 29.47% | 29.48% | 25.08% | 25.87% | 19.45% | 24.12% | 28.23% | 22.3% | 26.51% |
| EBITDA Growth % | 35.34% | 14.89% | 3.98% | 9.5% | 5.06% | 18.55% | 23.65% | 20.4% | 24.08% | 44.44% | 37.16% | 77.88% | 46.92% | -6.71% | 46.53% | -44.06% | 60.49% | 95.24% | -4.72% | -33.11% |
| D&A (Non-Cash Add-back) | 108M | 99M | 91M | 97M | 90M | 87M | 86M | 86M | 90M | 108M | 101M | 103M | 102M | 107M | 108M | 109M | 96M | 96M | 97M | 140M |
| EBIT | 223M | 201M | 173M | 202M | 154M | 183M | 175M | 144M | 172M | 98M | 101M | 99M | 92M | -76M | 52M | 26M | 48M | 74M | 36M | 33M |
| Net Interest Income | -84M | -77M | -68M | -70M | -73M | -75M | -75M | -78M | -78M | -78M | -75M | -73M | -68M | -70M | -116M | -118M | -120M | -119M | -121M | -124M |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 84M | 77M | 68M | 70M | 73M | 75M | 75M | 82M | 78M | 78M | 75M | 73M | 68M | 70M | 116M | 118M | 120M | 119M | 121M | 124M |
| Other Income/Expense | -90M | -78M | -65M | -36M | -78M | -67M | -65M | -90M | -53M | -93M | -76M | -72M | -65M | -195M | -104M | -96M | -106M | -113M | -89M | -153M |
| Pretax Income | 139M | 124M | 105M | 132M | 81M | 108M | 100M | 66M | 94M | 20M | 26M | 26M | 24M | -149M | -64M | -92M | -72M | -45M | -85M | -91M |
| Pretax Margin % | 16.53% | 15.33% | 13.57% | 16.56% | 9.91% | 13.2% | 13.23% | 8.56% | 12.86% | 2.74% | 3.88% | 3.81% | 3.7% | -24.43% | -11.19% | -15.83% | -13.36% | -7.75% | -18.76% | -11.94% |
| Income Tax | 25M | 29M | 23M | 24M | 17M | 26M | 18M | -2M | 14M | 15M | -1M | 5M | 4M | 1M | 3M | -154M | -172M | 6M | 3M | -7M |
| Effective Tax Rate % | 17.99% | 23.39% | 21.9% | 18.18% | 20.99% | 24.07% | 18% | -3.03% | 14.89% | 75% | -3.85% | 19.23% | 16.67% | -0.67% | -4.69% | 167.39% | 238.89% | -13.33% | -3.53% | 7.69% |
| Net Income | 114M | 95M | 82M | 108M | 64M | 82M | 82M | 67M | 75M | -1M | 22M | 30M | 328M | 3.29B | 26M | 95M | 182M | 109M | -15M | -90M |
| Net Margin % | 13.56% | 11.74% | 10.59% | 13.55% | 7.83% | 10.02% | 10.85% | 8.69% | 10.26% | -0.14% | 3.28% | 4.4% | 50.62% | 539.51% | 4.55% | 16.35% | 33.77% | 18.76% | -3.31% | -11.81% |
| Net Income Growth % | 78.13% | 15.85% | 0% | 61.19% | -14.67% | 8300% | 272.73% | 123.33% | -77.13% | -100.03% | -15.38% | -68.42% | 80.22% | 2919.27% | 273.33% | 205.56% | 255.56% | 153.69% | 90.57% | -109.3% |
| Net Income (Continuing) | 114M | 95M | 82M | 108M | 64M | 82M | 82M | 68M | 80M | 5M | 27M | 21M | 20M | -150M | -67M | 62M | 100M | -51M | -88M | -84M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 187M | 182M | 176M | 171M | 161M | 155M | 152M | 150M | 144M | 139M | 135M | 129M |
| EPS (Diluted) | 1.34 | 1.11 | 0.94 | 1.20 | 1.08 | 0.89 | 0.89 | 0.73 | 0.81 | -0.01 | 0.23 | 0.32 | 3.42 | 34.61 | 0.27 | 0.95 | 1.84 | 1.13 | -0.16 | -0.95 |
| EPS Growth % | 24.07% | 24.72% | 5.62% | 64.38% | 33.33% | 8190.91% | 286.96% | 128.13% | -76.32% | -100.03% | -14.81% | -66.32% | 85.87% | 2962.83% | 268.75% | 200% | 249.59% | 152.8% | 90.53% | -106.52% |
| EPS (Basic) | 1.37 | 1.13 | 0.97 | 1.22 | 1.10 | 0.91 | 0.91 | 0.74 | 0.83 | -0.01 | 0.24 | 0.32 | 3.47 | 34.61 | 0.27 | 0.98 | 1.89 | 1.13 | -0.16 | -0.98 |
| Diluted Shares Outstanding | 85M | 86M | 87M | 90M | 91M | 92M | 92M | 92M | 92M | 91M | 93M | 95M | 96M | 95M | 97M | 100M | 99M | 96M | 95M | 95M |
| Basic Shares Outstanding | 84M | 84M | 85M | 88M | 89M | 90M | 90M | 90M | 91M | 91M | 91M | 93M | 94M | 95M | 95.83M | 97M | 96M | 94.83M | 95M | 92.3M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | 34.33% | - | - | - | - | - | - | - | - | - | - | - | - |