Flutter Entertainment plc / "Research and Development" | Tables in SEC filings

FLUT Flutter Entertainment plc

Quarterly report

	Three months ended June 30,						Six months ended June 30,
	2024			2023			2024			2023
Revenue	$	3,611		$	3,001		$	7,008		$	5,919
Cost of Sales		(1,835)			(1,491)			(3,628)			(3,032)

Gross profit		1,776			1,510			3,380			2,887
Technology, research and development expenses		(216)			(176)			(406)			(344)
Sales and marketing expenses		(746)			(667)			(1,627)			(1,549)
General and administrative expenses		(445)			(445)			(854)			(787)

Operating profit		369			222			493			207
Other (expense) income, net		89			10			(85)			(35)
Interest expense, net		(108)			(82)			(220)			(174)

Income (loss) before income taxes		350			150			188			(2)
Income tax expense		(53)			(86)			(68)			(45)

Net income (loss)		297			64			120			(47)

Net income (loss) attributable to non-controlling interests and redeemable non-controlling interests		18			2			22			(7)
Adjustment of redeemable non-controlling interest to redemption value		18			(5)			33			(5)
Net income (loss) attributable to Flutter shareholders		261			67			65			(35)
Earnings (loss) per share			Basic			1.47			0.38			0.37	(0.20)
Diluted		1.45			0.37			0.36			(0.20)

Other comprehensive income (loss), before tax:			Effective portion of changes in fair value of cash flow hedges			(10)			(16)			13	(76)
Fair value of cash flow hedges transferred to the income statement		12			41			(2)			84
Foreign exchange gain on net investment hedges		50			8			29			12
Foreign exchange (loss) gain on translation of the net assets of foreign currency denominated entities		(60)			97			(245)			275
Fair value movements on available for sale debt instruments		1			—			—			1

Other comprehensive (loss) income		(7)			130			(205)			295
Other comprehensive (loss) income attributable to Flutter shareholders		(5)			101			(191)			240
Other comprehensive (loss) income attributable to non-controlling interest and redeemable non-controlling interest		(2)			29			(14)			55

Total comprehensive (loss) income	$	290		$	194		$	(85)		$	248

(Amounts in $ millions, except percentages)	Three Months Ended March 31,
	2024				2023
Financial Metrics		Revenue		$	3,397			$	2,918

Cost of sales		(1,793)				(1,541)

Gross Profit	$	1,604			$	1,377
Technology, research and development expenses		(190)				(168)
Sales and marketing expenses		(881)				(882)
General and administrative expenses		(409)				(342)

Operating Profit/(loss)	$	124			$	(15)
Other expense, net		(174)				(45)
Interest expense, net		(112)				(92)

Loss before taxes	$	(162)			$	(152)
Income tax expense		(15)				41

Net Loss	$	(177)			$	(111)

Net Loss margin (1)		(5.2	)%			(3.8	)%

Adjusted EBITDA (2)	$	514			$	352

Adjusted EBITDA Margin (2)		15.1	%			12.1	%

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