7 Best Nano Cap Stocks To Invest In

5. Inspired Entertainment, Inc. (NASDAQ:INSE)

Market Cap: $239.71 Million

Number of Hedge Funds: 16

Inspired Entertainment, Inc. (NASDAQ:INSE) is a technology company that provides various gaming solutions for businesses. It focuses on creating and supplying games, software, and hardware for casinos, betting platforms, and other online operators. Their software and games also allow businesses to provide sports betting options. The company has a global reach in over 35 countries with more than 50,000 gaming machines installed internationally.

Inspired Entertainment, Inc. (NASDAQ:INSE) in recent development announced securing a licensing agreement with the National Hockey League (NHL), which will significantly enhance its portfolio of virtual sports offerings. The deal allows the company to develop interactive, fixed-odds virtual sports games that feature NHL branding, including team logos and jerseys, thereby enhancing the existing range of sports-themed gaming options.

During the second quarter of 2024, the company delivered strong results indicating its profitability and strong fundamentals. Its revenue grew 40% during the quarter to reach $75.6 million, primarily driven by a strong performance in its interactive segment. Moreover, net income also came in high at $2 million, with adjusted EBITDA up 69% during the same time.

Looking ahead, management recently announced its upcoming launch of the Hybrid Dealer Roulette game in Canada, in partnership with Loto-Québec. Loto-Québec will be the first operator in Canada to offer this innovative game, marking a significant milestone for Inspired as it expands its presence in the Canadian gaming market.

With a market capitalization of around $240 million at the time of this writing, Inspired Entertainment, Inc. (NASDAQ:INSE) is the 5th best nano-cap stock to invest in.