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Playside Studios Ltd ( (AU:PLY) ) just unveiled an update.
PlaySide Studios reported a challenging financial period for the half year ending December 2024, with operating revenue declining by 21% compared to the previous period, despite maintaining a steady work-for-hire revenue. The company faced an EBITDA loss of $3.0 million and a net cash balance decrease to $28.5 million. Despite these financial setbacks, PlaySide has launched several new games and invested approximately $13 million in growth, focusing on developing major original IP titles. The company anticipates high investment levels to continue, aiming to strengthen its position in the PC/Console and Publishing spaces. The successful execution of these projects is seen as a significant opportunity for PlaySide to enhance its market presence.
More about Playside Studios Ltd
PlaySide Studios Limited, established in 2011 and headquartered in Port Melbourne, Australia, is the largest video game developer and publisher in the country. It develops and publishes video games across various platforms, including mobile, PC/Console, virtual reality, and mixed reality. The company offers a diverse portfolio of around 60 titles, including original intellectual property and collaborative projects with AAA game studios and major technology companies like Activision Blizzard, Meta, and Netflix Games. PlaySide also supports smaller independent studios through its Publishing arm, providing funding, development support, marketing, and publishing services.
YTD Price Performance: -41.46%
Average Trading Volume: 904,935
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$98.53M
See more insights into PLY stock on TipRanks’ Stock Analysis page.
