Playstudios, Inc ( (MYPS) ) has released its Q3 earnings. Here is a breakdown of the information Playstudios, Inc presented to its investors.
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PLAYSTUDIOS, Inc., a developer of free-to-play mobile and social games, is known for its playAWARDS loyalty platform that offers real-world rewards in partnership with major hospitality and entertainment brands.
In its latest earnings report, PLAYSTUDIOS announced third-quarter revenue of $71.2 million with a net loss of $3.1 million. The company’s consolidated AEBITDA reached $14.6 million, reflecting a positive margin increase.
Key financial metrics revealed a slight decline in revenue compared to the previous year, though net loss also decreased. The company saw an increase in AEBITDA margins to 20.5%, marking an improvement from previous quarters. The reinvention program launched aims to reduce costs and boost profitability, with anticipated annual savings of $25 to $30 million. Additionally, PLAYSTUDIOS resumed stock repurchases and integrated Pixode Games Limited, which will contribute to the development of a new Tetris title.
Looking ahead, PLAYSTUDIOS maintains its full-year guidance, projecting net revenue between $285 to $295 million and AEBITDA between $55 to $60 million, signaling confidence in future growth and operational improvements.
