Exhibit 99.1

DoubleDown Interactive Reports Third Quarter 2021 Results

SEATTLE, WASHINGTON – November 10, 2021 — DoubleDown Interactive (NASDAQ: DDI) (“DoubleDown” or the “Company”), a leading developer and publisher of digital social casino games, today reported its financial results for the third quarter ended September 30, 2021.

Third Quarter 2021 Highlights vs. Third Quarter 2020

• Revenues decreased 6% to $87.0 million.

• Adjusted EBITDA increased 4% to $30.2 million. Adjusted EBITDA margin of 34.7% improved by approximately 330 basis points.

• Net income increased to $22.8 million, or $9.91 per common share on a fully diluted basis ($0.50 on an ADS basis), compared to net income of $8.3 million, or $3.75 per common share on a fully diluted basis ($0.19 on an ADS basis). Note each ADS represents 0.05 of a common share.

• Average Revenue Per Daily Active User (“ARPDAU”) increased 12% to $0.96.

• Average monthly revenue per payer increased 14% to $224.

• Payer conversion of 5.7%, compared to 5.4%. Payer conversion represents the percentage of monthly active users that made at least one purchase in a month during the respective quarters.

“We are pleased with the results from our first quarter as a public company, including year-over-year Adjusted EBITDA growth, another record for average monthly revenue per payer, and the recent release of our first non-social casino gaming app, ‘Undead World: Hero Survival’,” said In Keuk Kim, Chief Executive Officer of DoubleDown. “We generated $33.7 million in net cash flows provided by operations and ended the quarter with a cash and cash equivalents balance of $223.1 million, providing us with a strong financial position. Looking ahead, we will continue to focus on growing our paying customer base with an emphasis on optimizing our monetization metrics.”

Initial Public Offering

On September 2, 2021, DoubleDown closed its initial public offering (the “IPO”) of 6,316,000 American Depositary Shares (“ADS”), each representing 0.05 of a common share, at a price of $18.00 per ADS. DoubleDown sold 5,263,000 ADSs and STIC Special Situation Diamond Limited sold 1,053,000 ADSs in the IPO. DoubleDown received net proceeds of $86.5 million after deducting underwriting discounts and commissions and the offering expenses from the IPO.

Summary Operating Results for DoubleDown Interactive

	Three Months Ended September 30,
	2021			2020
Revenue ($ MM)	$	87.0		$	92.2
Total operating expenses ($ MM)	$	59.2		$	71.3
Adjusted EBITDA ($ MM)	$	30.2		$	28.9
Net income ($ MM)	$	22.8		$	8.3
Net income margin		26.2	%		9.0	%
Adjusted EBITDA margin		34.7	%		31.4	%
Non-financial performance metrics
Average MAUs (000s)		2,255			2,894
Average DAUs (000s)		986			1,169
ARPDAU	$	0.96		$	0.86
Average monthly revenue per payer	$	224		$	196
Payer conversion		5.7	%		5.4	%

Third Quarter 2021 Financial Results

Revenue in the third quarter was $87.0 million, down 5.6% from the same year-ago quarter mainly due to the easing of stay-at-home initiatives compared to the height of COVID-19 prevention measures in the prior year.

Operating expenses in the third quarter were $59.2 million, down 16.9% from the same year-ago quarter. The decrease was primarily due to decreases in sales & marketing costs and depreciation & amortization expenses from the same quarter in 2020.

Net income in the third quarter increased to $22.8 million, or $9.91 per common share on a fully diluted basis ($0.50 on an ADS basis), compared to net income of $8.3 million, or $3.75 per common share on a fully diluted basis ($0.19 on an ADS basis), in the same year-ago quarter. Note each ADS represents 0.05 of a common share.

Adjusted EBITDA in the third quarter increased to $30.2 million compared to $28.9 million in the same year-ago quarter.

Net cash flows provided by operating activities for the three months ended September 30, 2021 was $33.7 million compared to $22.7 million in the same year-ago quarter.

Conference Call

DoubleDown will hold a conference call today (November 10, 2021) at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time) to discuss these results. A question-and-answer session will follow management’s presentation.

To participate, please dial the number below at least five minutes prior to the start time and ask for the DoubleDown Interactive conference call.

U.S. dial-in number: 1-888-705-0418

International number: 1-929-517-9007

Conference ID: 2667354

The conference call will broadcast live and be available for replay here or at the below dial in.

Toll-free replay number: 1-855-859-2056

International replay number: 1-404-537-3406

Conference ID: 2667354

A replay of the call will be available after 8:00 p.m. Eastern Time through December 10, 2021 at 8:00 p.m. Eastern Time.

About DoubleDown Interactive

DoubleDown Interactive, Co. Ltd. is a leading developer and publisher of digital games on mobile and web-based platforms. We are the creators of multi-format interactive entertainment experiences for casual players, bringing authentic Vegas entertainment to players around the world through an online social casino experience. Our flagship title, DoubleDown Casino, has been a fan-favorite game on leading social and mobile platforms for years, entertaining millions of players worldwide with a lineup of classic and modern games.

Safe Harbor Statement

Certain statements contained in this press release are “forward-looking statements” about future events and expectations for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on our beliefs, assumptions, and expectations of industry trends, our future financial and operating performance, and our growth plans, taking into account the information currently available to us. These statements are not statements of historical fact. We have based these forward-looking statements on our current expectations and assumptions about future events. While our management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control. Therefore, you should not place undue reliance on such statements. Words such as “anticipates,” believes,” “continues,” “estimates,” “expects,” “goal,” “objectives,” “intends,” “may,” “opportunity,” “plans,” potential,” “near-term,” long-term,” “projections,” “assumptions,” “projects,” “guidance,” “forecasts,” “outlook,” “target,” “trends,” “should,” “could,” “would,” “will,” and similar expressions are intended to identify such forward-looking statements. We qualify any forward-looking statements entirely by these cautionary factors. We assume no obligation to update or revise any forward-looking statements for any reason or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

Use and Reconciliation of Non-GAAP Financial Measures

In addition to our results determined in accordance with the accounting principles generally accepted in the United States of America (“GAAP”), we believe the following non-GAAP financial measure is useful in evaluating our operating performance. We present “adjusted earnings before interest, taxes, depreciation and amortization” (“Adjusted EBITDA”) because we believe it assists investors and analysts by facilitating comparison of period-to-period operational performance on a consistent basis by excluding items that we do not believe are indicative of our core operating performance. The items excluded from the Adjusted EBITDA may have a material impact on our financial results. Certain of those items are non-recurring, while others are non-cash in nature. Accordingly, the Adjusted EBITDA is presented as supplemental disclosure and should not be considered in isolation of, as a substitute for, or superior to, the financial information prepared in accordance with GAAP, and should be read in conjunction with the financial statements furnished in our Form 6-K to be filed with the SEC.

In our reconciliation from our reported GAAP “net income before provision for taxes” to our Adjusted EBITDA, we eliminate the impact of the following fourline items: (i) remeasurement gains; (ii) acquisition expenses; (iii) amortization expenses related to intangible assets acquired; and (iv) depreciation expense. The below table sets forth the full reconciliation of our non-GAAP measures:

Reconciliation of non-GAAP measures	Three Months Ended September 30,						Nine Months Ended September 30,
(in millions, except percentages)	2021			2020			2021			2020
Net income	$	22.8		$	8.3		$	60.7		$	38.2
Income tax expense		7.2			5.8			16.7			16.5
Income before tax		30.0			14.1			77.4			54.7
Adjustments for:
Depreciation and amortization		2.4			8.0			15.7			23.9
Loss contingency		—			—			3.5			—
Interest expense		0.5			0.7			1.5			10.1
Foreign currency transaction/remeasurement (gain) loss		(0.8	)		0.7			(1.4	)		(3.4	)
Other income (expense), net		1.9			(5.4	)		2.4			(5.1	)
Adjusted EBITDA	$	30.2		$	28.9		$	94.3		$	90.4
Adjusted EBITDA margin		34.7	%		31.4	%		34.0	%		33.9	%

We encourage investors and others to review our financial information in its entirety and not to rely on any single financial measure.

Company Contact:

Joe Sigrist

ir@doubledown.com

+1 (206) 773-2266

Chief Financial Officer

https://www.doubledowninteractive.com

Investor Relations Contact:

Cody Slach or Jeff Grampp, CFA

Gateway Group

1-949-574-3860

DDI@gatewayir.com

DoubleDown Interactive

Condensed Balance Sheets

	September 30, 2021		December 31, 2020
Assets
Current assets:
Cash and cash equivalents	$	223,062	$	63,188
Accounts receivable, net		20,247		23,299
Prepaid expenses, and other assets		11,013		4,020
Total current assets		254,322		90,507
Property and equipment, net		342		377
Operating lease right-of-use assets, net		7,644		9,987
Intangible assets, net		55,801		71,364
Goodwill		633,965		633,965
Deferred tax asset		2,724		560
Other non-current assets		72		71
Total assets	$	954,870	$	806,831
Liabilities and Shareholders’ Equity
Accounts payable and accrued expenses	$	14,090	$	16,646
Short-term operating lease liabilities		3,036		3,033
Income taxes payable		375		2,838
Contract liabilities		1,546		2,415
Other current liabilities		2702		717
Total current liabilities		21,749		25,649
Long-term borrowings with related party		42,198		45,956
Long-term operating lease liabilities		5,410		7,831
Deferred tax liabilities, net		25,993		20,154
Other non-current liabilities		12,592		7,730
Total liabilities		107,942		107,320
Shareholders’ equity
Common stock		21,198		18,924
Additional paid-in-capital		672,242		588,064
Accumulated other comprehensive income		23,109		22,815
Retained earnings		130,379		69,708
Total shareholders’ equity		846,928		699,511
Total liabilities and shareholders’ equity	$	954,870	$	806,831

DoubleDown Interactive

Condensed Statement of Operations

(Unaudited)

	Three Months Ended September 30,						Nine Months Ended September 30,
	2021			2020			2021			2020
Revenue	$	87,007		$	92,166		$	276,902		$	267,305
Operating expenses:
Cost of revenue(1)		30,485			32,648			96,823			94,345
Sales and marketing(1)		17,161			20,905			56,913			53,688
Research and development(1)		4,537			4,635			14,635			13,847
General and administrative(1)		4,674			5,103			17,684			14,983
Depreciation and amortization		2,359			7,978			15,704			23,938
Total operating expenses		59,216			71,269			201,759			200,801
Operating income		27,791			20,897			75,143			66,504
Other income (expense):
Interest expense		(500	)		(719	)		(1,521	)		(10,142	)
Interest income		25			18			108			189
Gain on foreign currency transactions		634			558			1,040			3,167
Gain (loss) on foreign currency remeasurement of intercompany items		215			(1,251	)		353			233
Other, net		1,853			(5,437	)		2,261			(5,262	)
Total other expense, net		2,227			(6,831	)		2,241			(11,815	)
Income before income tax		30,018			14,066			77,384			54,689
Income tax expense		(7,185	)		(5,768	)		(16,713	)		(16,539	)
Net income	$	22,833		$	8,298		$	60,671		$	38,150
Other comprehensive income (expense):
Pension adjustments, net of tax		(81	)		(20	)		(121	)		(211	)
Gain on foreign currency translation		5,842			(657	)		7,057			15,869
Comprehensive income	$	28,594		$	7,621		$	67,607		$	53,808
Earnings per share:
Basic	$	9.91		$	3.75		$	27.03		$	22.83
Diluted	$	9.91		$	3.75		$	27.03		$	17.30
Weighted average shares outstanding:
Basic		2,303,192			2,214,522			2,244,404			1,670,715
Diluted		2,303,192			2,214,522			2,244,404			2,360,310

(1) Excluding depreciation and amortization

DoubleDown Interactive

Condensed Statement of Cash Flows

(Unaudited)

	Nine months ended September 30,			Nine months ended September 30,
	2021			2020
Cash flow from operating activities:
Net Income	$	60,671		$	38,150
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization		15,704			23,938
Gain(loss) on foreign currency remeasurement of intercompany item		6			(233	)
Deferred taxes		3,524			4,477
Non-cash interest expense		—			5,015
Working capital adjustments:
Accounts receivable		1,647			(12,443	)
Prepaid expenses, other current and non-current assets		(2,628	)		(487	)
Accounts payable, accrued expenses and other payables		(795	)		5,170
Contract liabilities		(868	)		(187	)
Income tax payable		(7,035	)		1,232
Other current and non-current liabilities		7,358			(851	)
Net cash flows provided by operating activities		77,584			63,781
Cash flow from (used in) investing activities:
Acquisition of Double8 Games Co., Ltd.		—			(1,952	)
Acquisition of intangible assets		(12	)		—
Purchases of intangible assets		—			(5	)
Purchases of property and equipment		(116	)		(194	)
Disposals of property and equipment		3			—
Net cash flows from (used in) investing activities		(125	)		(2,151	)
Cash flows from (used in) financing activities:
Repayments of long-term borrowings with related party		—			(41,641	)
Isssuance of new shares-IPO		86,452
Repayments of short-term senior note		—			(33,313	)
Net cash flows used in financing activities		86,452			(74,954	)
Net foreign exchange difference on cash and cash equivalents		(4,035	)		(3,082	)
Net increase (decrease) in cash and cash equivalents		159,875			(16,406	)
Cash and cash equivalents at beginning of period		63,188			42,418
Cash and cash equivalents at end of period	$	223,062		$	26,012