Playstudios, Inc ( (MYPS) ) has released its Q4 earnings. Here is a breakdown of the information Playstudios, Inc presented to its investors.
PLAYSTUDIOS, Inc., a developer and publisher of free-to-play mobile and social games, is renowned for its playAWARDS loyalty platform, offering real-world rewards through its gaming experiences. The company operates in the mobile gaming industry, blending casual gaming with tangible benefits for players.
In its latest earnings report, PLAYSTUDIOS announced a revenue of $67.8 million for the fourth quarter of 2024, alongside a net loss of $22.4 million and a Consolidated AEBITDA of $12.5 million. Despite facing industry pressures, the company maintained its financial guidance and is focusing on growth initiatives for 2025.
Key financial highlights include a decline in revenue from $77.1 million in the previous year, and an increase in net loss from $19.9 million. However, the company saw a significant rise in Direct to Consumer revenue, which grew by 93% compared to the previous year. PLAYSTUDIOS also executed a cost reinvention program, aiming for annual savings of $25 to $30 million, and is investing in new business initiatives like sweepstakes and a new Tetris title.
The company’s strategic focus is on enhancing its casino portfolio and leveraging its Tetris assets, with plans to deploy its cash holdings strategically to maximize shareholder value. This includes potential acquisitions and investments in growth-oriented initiatives.
Looking ahead, PLAYSTUDIOS management expects 2025 to bring a consolidated net revenue between $250 and $270 million, with a Consolidated Adjusted EBITDA ranging from $45 to $55 million, as they continue to focus on growth and shareholder returns.