Core Viewpoint - PLAYSTUDIOS, Inc. reported a quarterly loss of $0.09 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.04, marking an earnings surprise of -157.14% [1] Financial Performance - The company posted revenues of $55.4 million for the quarter ended December 2025, missing the Zacks Consensus Estimate by 4.41%, and down from $67.78 million year-over-year [2] - Over the last four quarters, PLAYSTUDIOS has consistently failed to surpass consensus EPS and revenue estimates [2] Stock Performance - Since the beginning of the year, PLAYSTUDIOS shares have declined by approximately 21.7%, compared to a 3.1% decline in the S&P 500 [3] - The current Zacks Rank for PLAYSTUDIOS is 3 (Hold), indicating that the shares are expected to perform in line with the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is -$0.04 on revenues of $57.9 million, and for the current fiscal year, it is -$0.11 on revenues of $235.12 million [7] - The trend of estimate revisions for PLAYSTUDIOS was mixed ahead of the earnings release, which could change following the recent report [6] Industry Context - The Gaming industry, to which PLAYSTUDIOS belongs, is currently ranked in the bottom 35% of over 250 Zacks industries, suggesting potential challenges ahead [8] - The performance of PLAYSTUDIOS may be influenced by the overall outlook for the industry, as top-ranked industries tend to outperform the bottom ones significantly [8]

Company Overview - PLAYSTUDIOS, Inc. has developed a portfolio of free-to-play social casino games, including Tetris®-branded mobile games, and acquired Brainium in late 2022[359]. Revenue Generation - The company generates revenue primarily from in-game virtual currency sales, with a significant concentration in North America, and also from in-game advertising, particularly in Tetris® and Brainium games[362][363]. - Revenue from virtual currency is recognized as it is consumed, with an average consumption period of approximately one day, based on player behavior analysis[431]. - The company recognizes advertising revenue at the point in time when advertisements are displayed or offers are completed, with payment terms typically ranging from 45 to 60 days[433][434]. Player Engagement and Metrics - The playAWARDS program incorporates loyalty points earned by players, with most rewards provided at no cost to the company, enhancing player engagement and retention[360][365]. - Average Daily Active Users (Average DAU) and Average Monthly Active Users (Average MAU) are key metrics used to measure player engagement, with DAU defined as the number of individuals playing a game on a given day[367][368]. - Average Daily Paying Users (Average DPU) measures the number of individuals making purchases within games, providing insight into monetization trends[370]. - Average Daily Payer Conversion is calculated as Average DPU divided by Average DAU, helping to understand the monetization of active players[371]. - Average Daily Revenue Per DAU (ARPDAU) is used to assess overall monetization, calculated as game-related and advertising revenue divided by Average DAU[372]. - The playAWARDS loyalty platform's Available Rewards metric indicates the breadth of the loyalty offering, measuring the average number of unique rewards available[374]. - Purchases metric tracks the total number of rewards exchanged for loyalty points, reflecting audience interest and engagement with the playAWARDS platform[375]. Financial Performance - Net revenue for the year ended December 31, 2025, was $235.1 million, a decrease of $54.3 million or 18.8% compared to $289.4 million in 2024[380]. - Operating expenses decreased by $63.3 million or 19.6% to $259.0 million in 2025 from $322.3 million in 2024[385]. - playGAMES revenue was $234.1 million in 2025, down $55.3 million or 19.1% from $289.4 million in 2024, primarily due to a $40.5 million decrease in virtual currency revenue[382]. - playAWARDS net revenue increased to $1.0 million in 2025, a significant rise of $946 thousand or 1525.8% from $62 thousand in 2024[384]. - Average Daily Active Users (DAU) for playGAMES decreased by 795 to 2,305 in 2025, a decline of 25.6% compared to 3,100 in 2024[382]. - Retail Value of Purchases in playAWARDS decreased by $54.8 million or 48.0% to $59.4 million in 2025 from $114.1 million in 2024[384]. - Total operating loss for 2025 was $23.9 million, an improvement of $8.9 million or 27.2% from a loss of $32.9 million in 2024[380]. - Cost of revenue decreased by $15.2 million or 21.0% to $57.5 million in 2025 from $72.7 million in 2024[386]. - Selling and marketing expenses decreased by $9.1 million or 14.2% to $55.5 million in 2025 from $64.6 million in 2024[387]. - Income tax expense for 2025 was approximately $1.9 million, reflecting an effective income tax rate of negative 7.3%[394]. - playGAMES AEBITDA decreased to $58.6 million in 2025 from $85.1 million in 2024, a decline of 31.1%[397]. - playGAMES AEBITDA margin was 25.1% in 2025, down from 29.4% in 2024, reflecting a 4.3% decrease[397]. - playAWARDS AEBITDA improved to $(8.7) million in 2025 from $(13.7) million in 2024, indicating a reduction in losses[398]. - Consolidated AEBITDA for 2025 was $35.6 million, down from $56.5 million in 2024, a decrease of 37.1%[402]. - Consolidated AEBITDA margin decreased to 15.1% in 2025 from 19.5% in 2024[402]. - Net revenue fell to $235.1 million in 2025 from $289.4 million in 2024, a decline of 18.7%[402]. - Net loss for 2025 was $(28.6) million, slightly improved from $(28.7) million in 2024[402]. Cash and Assets - Cash and cash equivalents as of December 31, 2025, were $104.9 million, with an additional $0.6 million in restricted cash[403]. - Net cash provided by operating activities was $26.3 million in 2025, down from $45.7 million in 2024[414]. - Total net cash used in financing activities decreased to $14.9 million in 2025 from $41.9 million in 2024, primarily due to reduced share repurchases[416]. - As of December 31, 2025, the company's goodwill totaled $52.2 million, with no impairment required following the annual assessment conducted on October 1, 2025[421][422]. - The company applies ASC 805 for business combinations, allocating fair value to tangible and intangible assets, with excess purchase consideration recorded as goodwill[423]. Risk Factors - The company is exposed to foreign currency risks, particularly from transactions in currencies other than the U.S. Dollar, which could materially impact future operating results[444][445]. - The company has not had any borrowings outstanding under its Credit Agreement as of December 31, 2025, indicating no interest rate risk exposure[440]. - Significant estimates in valuing intangible assets include future expected cash flows and discount rates, which are inherently uncertain[424]. - The company does not purchase or hold derivative financial instruments for trading purposes, minimizing investment risk[441]. - The company assesses player behavior continuously to refine its revenue recognition estimates and assumptions[432].

Core Insights - PLAYSTUDIOS, Inc. reported a fourth quarter revenue of $55.4 million and a full year revenue of $235.1 million for 2025, reflecting ongoing challenges in the consumer gaming market and a strategic focus on cost reduction and growth opportunities in social casino and casual puzzle segments [1][4]. Financial Performance - The company experienced a net loss of $13.7 million in Q4 2025, an improvement from a net loss of $22.4 million in Q4 2024 [6][44]. - For the full year 2025, the net loss was $28.6 million, slightly better than the net loss of $28.7 million in 2024 [6][44]. - Consolidated AEBITDA for Q4 2025 was $5.1 million, down from $12.5 million in Q4 2024, with a margin of 9.3%, a decrease of 910 basis points year-over-year [6][55]. Strategic Initiatives - The company initiated a second stage of its Reinvention program, expected to generate additional annualized savings of $33.0 million to $39.0 million through further operational efficiencies [3][9]. - PLAYSTUDIOS is focusing on two primary growth drivers: Tetris Block Party and playSWEEPS, with Tetris Block Party achieving over 125,000 daily active users shortly after its launch [12][15]. Market Dynamics - The consumer gaming market remains challenging, with increased difficulty in player acquisition and retention due to stricter data privacy policies affecting user acquisition economics [2][4]. - The legacy social casino portfolio continues to face industry-wide pressure, prompting the company to implement efficiency measures and optimize profitability [5][8]. Key Performance Indicators - Direct-to-Consumer (DTC) revenue increased by 76.7% in Q4 2025 compared to Q4 2024, reaching $8.3 million [6][10]. - Average Daily Active Users (DAU) for 2025 were 2.3 million, down from 3.1 million in 2024, indicating a decline in player engagement [6][69]. - The retail value of purchases through the playAWARDS platform decreased by 48.0% year-over-year, reflecting challenges in player engagement [6][76]. Liquidity and Capital Allocation - As of December 31, 2025, the company had cash and cash equivalents of $104.9 million, maintaining a strong liquidity position to support strategic investments [19][20]. - The company has approximately $40 million remaining under its stock repurchase authorization, indicating potential for future capital returns to shareholders [20].

Core Insights - PlayStudios experienced a challenging third quarter with continued revenue and user declines attributed to category headwinds and cost-reduction efforts [1] - CEO Andrew Pascal indicated that the company's valuation is only slightly above its cash position, raising concerns among investors about the company's direction [1] Financial Performance - Revenue for Q3 was $57.65 million, missing analyst estimates of $59.45 million, representing a 19.1% year-on-year decline [6] - Adjusted EPS was -$0.01, missing estimates of $0.01, while adjusted EBITDA was $7.25 million, below the expected $10.06 million, resulting in a 12.6% margin [6] - The operating margin fell to -13.6%, down from -6.7% in the same quarter last year [6] - Daily Active Users decreased to 2.21 million, down 750,000 year on year [6] - Market capitalization stands at $100.9 million [6] Management Commentary - CEO Andrew Pascal described the operating environment as "extremely challenging," emphasizing a shift from content development to efficiency [1] - Positive early data from sweepstakes users was noted, with plans to expand the Win Zone to all available states before increasing marketing investment [6] - Pascal acknowledged the need to monitor the impact of recent regulatory bans in California on core games, with targeted marketing planned [6] Analyst Insights - Questions from analysts highlighted concerns about the balance between organic growth and M&A, with Pascal stating that both options are being considered but no deals are imminent [6] - Visibility into 2026 and guidance for sweepstakes contributions are expected to improve by year-end after broader launches and market tests [6] - CFO Scott Peterson confirmed that Q4 revenue from the core business is expected to decline further, reflecting current trends [6]

Company Overview - PLAYSTUDIOS, Inc. has developed a portfolio of free-to-play social casino games, including Tetris® and acquired Brainium in late 2022[127]. Revenue Generation - Revenue is primarily generated from in-game virtual currency sales, with a significant concentration in North America[130]. - The company incurs platform fees of approximately 30% for in-game purchases processed by third-party platforms like Apple App Store and Google Play Store[133]. - Virtual currency revenue for playGAMES decreased by $11.4 million, or 19.9%, to $46.1 million during the three months ended September 30, 2025, compared to $57.6 million in the same period of 2024[148]. - The net revenue for playAWARDS remained flat at $264,000 during the three months ended September 30, 2025, compared to $3,000 in the same period of 2024[152]. - Revenue for the three months ended September 30, 2025, was $57.6 million, a decrease from $71.2 million in the same period of 2024, representing a decline of approximately 19.1%[182]. User Engagement Metrics - Daily Active Users (DAU) and Monthly Active Users (MAU) are key metrics for measuring player engagement, with DAU defined as the number of individuals playing a game on a particular day[136][137]. - Daily Paying Users (DPU) is tracked to understand the size of the active player base making in-game purchases, with DPU defined as the number of individuals making a purchase in a game on a particular day[138]. - Average Daily Active Users (DAU) for playGAMES decreased by 750, or 25.3%, to 2,211 in the three months ended September 30, 2025, compared to 2,961 in the same period of 2024[148]. - Average Monthly Active Users (MAU) for playGAMES decreased by 3,153, or 24.9%, to 9,505 in the three months ended September 30, 2025, compared to 12,658 in the same period of 2024[148]. - Average Daily Revenue Per DAU (ARPDAU) is calculated to measure overall monetization, defined as game and advertising revenue divided by Average DAU[141]. Financial Performance - Net loss for the three months ended September 30, 2025, increased by $6.0 million, or 194.4%, to $9.1 million compared to $3.1 million in the same period of 2024[146]. - The operating loss for the three months ended September 30, 2025, increased by $3.1 million, or 64.6%, to $7.9 million compared to $4.8 million in the same period of 2024[146]. - Consolidated AEBITDA decreased by $7.4 million to $7.2 million for the three months ended September 30, 2025, representing a 50.5% decline compared to the same period in 2024[172]. - playGAMES AEBITDA decreased by $9.8 million to $13.4 million for the three months ended September 30, 2025, with a margin of 23.3% compared to 32.6% in 2024[174]. - Net loss for the three months ended September 30, 2025, was $(9.1) million, compared to a net loss of $(3.1) million in the same period of 2024, indicating a worsening loss margin from (4.3)% to (15.8)%[182]. Operating Expenses - Operating expenses for the three months ended September 30, 2025, decreased by $10.5 million, or 13.8%, to $65.5 million compared to $76.0 million in the same period of 2024[155]. - Total operating expenses for the nine months ended September 30, 2025, decreased by $38.3 million, or 16.5%, to $193.8 million compared to $232.1 million in the same period of 2024[156]. - Selling and marketing expenses decreased by $0.9 million to $14.2 million for the three months ended September 30, 2025, primarily due to a $0.7 million decrease in user acquisition expenses[159]. - Research and development expenses decreased by $1.8 million to $14.8 million for the three months ended September 30, 2025, mainly due to a $1.1 million reduction in employee costs[161]. - General and administrative expenses increased by $0.5 million to $12.1 million for the three months ended September 30, 2025, primarily due to a charitable donation of $1.3 million[163]. Cash Flow and Liquidity - Cash and cash equivalents as of September 30, 2025, totaled $106.3 million, with restricted cash of $0.6 million[184]. - Net cash provided by operating activities for the nine months ended September 30, 2025, was $22.6 million, down from $34.1 million in 2024, reflecting a decrease of approximately 33.8%[188]. - Net cash used in investing activities during the nine months ended September 30, 2025, was $(12.7) million, a reduction from $(22.1) million in 2024, indicating a decrease of approximately 42.3%[190]. - Net cash used in financing activities for the nine months ended September 30, 2025, was $(14.5) million, significantly lower than $(38.6) million in 2024, a reduction of approximately 62.4%[191]. - As of September 30, 2025, there were no outstanding amounts under the Credit Agreement, indicating a strong liquidity position[187]. Future Outlook - The company plans to continue making significant investments to support business growth and may require additional funds for new game development and acquisitions[186]. - The decrease in cash provided from operating activities was primarily due to a decrease in net revenue, offset by reduced costs and favorable changes in operating assets and liabilities[189].

Financial Data and Key Metrics Changes - Total revenue for Q3 2025 was $57.6 million, down approximately 19.1% year-over-year and down 2.7% sequentially, primarily due to a decline in DAU [11] - Year-to-date revenue stands at $179.7 million, down 18.9% year-over-year [11] - Adjusted EBITDA for the quarter was $7.2 million, down 50.5% year-over-year, resulting in a 12.6% operating margin compared to 20.5% [11] - MAU declined 24.9% year-over-year and DAU decreased 25.3% year-over-year, with declines concentrated in the casual segment [11] Business Line Data and Key Metrics Changes - The direct-to-consumer business showed strong growth, with revenue of $7.7 million, a 48% quarter-over-quarter increase, representing 16.7% of total in-app purchase revenue, up from 9.1% in Q3 2024 [8] - The social casino category remains challenged, contributing to year-over-year declines in DAU and ARPDAU across most of the portfolio, except for MyKonami, which showed double-digit year-over-year increases in ARPDAU [7][8] Market Data and Key Metrics Changes - The broader sweepstakes market is facing regulatory contraction, reducing the total addressable market (TAM) by roughly 25%, but growth in remaining open states remains strong, with an addressable market of $3.5 billion to $4 billion [6] - The company is focused on expanding its sweepstakes effort, which is currently live in open beta across 15 states [5][6] Company Strategy and Development Direction - The company is focused on reshaping its business to navigate market headwinds, tighten expense structures, and reorient towards durable growth [3][4] - There is an emphasis on modernizing development approaches, particularly through the adoption of AI to improve efficiency across game development and player targeting [10] - The company aims to balance disciplined investment with improvements in operating efficiency while advancing initiatives that can re-energize growth over time [14] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenging operating environment and the need to reposition the business, sharing concerns about valuation and direction [3] - The company expects full-year results for both net revenue and consolidated adjusted EBITDA to fall below the low end of previously provided guidance ranges due to recent softness in player activity and monetization [12] - Management remains hopeful about the potential for growth in the sweepstakes market and the upcoming launch of Tetris Block Party, which is seen as a promising initiative [26][27] Other Important Information - The playAWARDS loyalty platform has been streamlined to focus on higher-quality partners and more aspirational rewards, resulting in a 16% sequential increase in the retail value of rewards purchased [9] - The company ended the quarter with approximately $106.3 million in cash, no debt, and access to a fully undrawn $81 million credit facility, providing flexibility for future opportunities [12] Q&A Session Summary Question: Feedback on WinZone from World Series of Slots - Feedback has been generally positive, but the sample size is small. The company is encouraged by consistent improvements in retention and monetization metrics [18] Question: Impact of California's ban on social casino games - The company has not seen benefits yet, but is monitoring the situation closely as the ban goes into effect [19] Question: Reevaluation of business strategy - The company is looking at both organic and inorganic opportunities for growth, including potential M&A [20][22] Question: Visibility into 2026 business performance - The company hopes to have more clarity on contributions from sweepstakes and Tetris Block Party by year-end [25][26] Question: Marketing strategy for sweepstakes - The company plans to open all jurisdictions and then deploy modest marketing capital to gauge performance before scaling up [28] Question: Revenue and EBITDA guidance for 2025 - The company expects a sequential decline in Q4 revenue from the core business, with challenges in stabilizing the social casino segment [32] Question: Strategic opportunities with iGaming operators - The company sees potential for partnerships with iGaming operators as the sweepstakes market evolves [36][39] Question: Drivers of D2C revenue growth - Improved merchandising within apps and relaxed policies have driven growth in direct-to-consumer revenue [41]

Financial Performance - Third quarter revenue was $57.6 million, down from $71.2 million in the same quarter of 2024, representing a decrease of approximately 19.1%[8] - Net loss for the third quarter was $9.1 million, with a net loss margin of 15.8%, compared to a net loss of $3.1 million and a margin of 4.3% in the prior year[8] - Consolidated AEBITDA for the third quarter was $7.2 million, with a margin of 12.6%, down from $14.6 million and a margin of 20.5% in the same quarter of 2024[8] - Net revenue for Q3 2025 was $57,648,000, a decrease of 19.1% compared to $71,229,000 in Q3 2024[32] - The net loss for Q3 2025 was $9,118,000, compared to a net loss of $3,097,000 in Q3 2024, representing an increase in loss of 194.5%[32] - Consolidated AEBITDA for Q3 2025 was $7,245,000, down 50.5% from $14,623,000 in Q3 2024[39] - The net loss margin for Q3 2025 was 15.8%, significantly higher than 4.3% in Q3 2024[39] - For the three months ended September 30, 2025, total net revenue was $57,648, a decrease of 19.0% compared to $71,229 for the same period in 2024[41] - For the nine months ended September 30, 2025, total net revenue was $179,695, a decrease of 19.0% from $221,647 in the same period in 2024[42] User Engagement - Average Daily Active Users (DAU) and Average Monthly Active Users (MAU) were 2.2 million and 9.5 million, respectively, during the third quarter of 2025[9] - Average Daily Active Users (DAU) decreased by 25.3% to 2,211 in Q3 2025 from 2,961 in Q3 2024[45] - Average Monthly Active Users (MAU) fell by 24.9% to 9,505 in Q3 2025 compared to 12,658 in Q3 2024[45] Revenue Streams - Direct-to-consumer revenue increased by 48% to $7.7 million compared to $5.2 million in the third quarter of 2024[8] - Virtual currency revenue for the three months ended September 30, 2025, was $46,381, down 19.4% from $57,564 in the prior year[43] - Advertising revenue for the three months ended September 30, 2025, was $11,257, down 17.3% from $13,613 in Q3 2024[43] - Direct-to-consumer (DTC) revenue as a percentage of virtual currency revenue increased to 16.6% in Q3 2025 from 9.0% in Q3 2024, representing a growth of 84.4%[43] Cash and Assets - As of September 30, 2025, cash and cash equivalents were $106.3 million, with an undrawn $81 million revolving credit facility[8] - Cash and cash equivalents at the end of Q3 2025 were $106,320,000, slightly down from $109,179,000 at the end of Q4 2024[34] - Total assets decreased to $299,153,000 as of September 30, 2025, from $322,955,000 as of December 31, 2024[34] - Total liabilities decreased to $60,228,000 as of September 30, 2025, down from $78,240,000 as of December 31, 2024[34] - The company reported cash flows from operating activities of $22,601,000 for the nine months ended September 30, 2025, compared to $34,124,000 for the same period in 2024[37] Operational Developments - The company expects full-year results for both net revenue and Consolidated Adjusted EBITDA to fall below the low end of previously provided guidance ranges due to recent softness in player activity and monetization[6] - The soft launch of Tetris Block Party and the beta launch of The Win Zone were significant recent developments[9] - The company is focused on stabilizing the business while building capabilities for future growth, particularly in the direct-to-consumer channel and new initiatives[4] Purchases and Rewards - Players purchased 202,666 rewards with a retail value of $15 million during the third quarter[9] - Available Rewards decreased by 40.6% year-over-year to 325 units in Q3 2025, down from 547 units in Q3 2024[47] - Purchases fell by 55.1% year-over-year to 203 units in Q3 2025, compared to 451 units in Q3 2024[47] - Retail Value of Purchases declined by 41.2% year-over-year to $14.695 million in Q3 2025, down from $24.980 million in Q3 2024[47] - Total Purchases for the nine months ended September 30, 2025, were 683 units, a decrease of 53.6% from 1,472 units in the same period of 2024[47] - Total Retail Value of Purchases for the nine months ended September 30, 2025, was $44.342 million, down 54.3% from $96.977 million in the same period of 2024[47] - Retail Value of Daily Rewards Inventory increased by 9.6% year-over-year to $2.421 million in Q3 2025, up from $2.208 million in Q3 2024[47] - Retail Value of Daily Rewards Inventory for the nine months ended September 30, 2025, increased by 27.2% to $2.495 million, compared to $1.962 million in the same period of 2024[47]

Core Points - PLAYSTUDIOS, Inc. will release its third quarter 2025 results after the market closes on November 3, 2025 [1][10] - A conference call and audio webcast will be held on the same day at 5:00 pm Eastern Time to discuss the results [2] Company Overview - PLAYSTUDIOS, Inc. is known for its playAWARDS loyalty platform and develops free-to-play mobile and social games, including popular titles like Tetris®, Solitaire, and myVEGAS Slots [3] - The playAWARDS platform allows players to earn real-world rewards from various hospitality and entertainment brands, partnering with companies like MGM Resorts International and Norwegian Cruise Line [3]

[Cautionary Note Regarding Forward-Looking Statements](index=4&type=section&id=Cautionary%20Note%20Regarding%20Forward-Looking%20Statements) [Forward-Looking Statements Overview](index=4&type=section&id=Forward-Looking%20Statements%20Overview) Outlines inherent risks and uncertainties for forward-looking statements, detailing factors that could cause actual results to differ and official disclosure channels - Forward-looking statements are based on current expectations and projections about future events and are subject to **known and unknown risks, uncertainties, and assumptions**[12](index=12&type=chunk)[13](index=13&type=chunk) - Key factors that might cause actual results to differ include **business strategy, financial performance, market acceptance of games, financing ability, competitive and regulatory changes, platform relationships, accounting for warrants, internal controls, intellectual property rights, litigation, acquisitions, personnel, geopolitical conditions, and legal/regulatory factors**[13](index=13&type=chunk)[14](index=14&type=chunk) - The company uses its **Investor Relations website, SEC filings, press releases, public conference calls, public webcasts, and social media** to announce material information[16](index=16&type=chunk) [Part I - Financial Information](index=7&type=section&id=Part%20I%20-%20Financial%20Information) [Item 1. Financial Statements (Unaudited)](index=7&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) Presents unaudited condensed consolidated financial statements, including balance sheets, operations, comprehensive loss, equity, cash flows, and detailed accounting notes [Condensed Consolidated Balance Sheets](index=7&type=section&id=Condensed%20Consolidated%20Balance%20Sheets%20as%20of%20June%2030,%202025%20and%20December%2031,%202024) Condensed Consolidated Balance Sheets Highlights (in thousands) | Metric | June 30, 2025 | December 31, 2024 | | :-------------------------------- | :------------ | :---------------- | | Total assets | $316,233 | $322,955 | | Total liabilities | $70,942 | $78,240 | | Total stockholders' equity | $245,291 | $244,715 | | Cash and cash equivalents | $112,860 | $109,179 | | Total current assets | $151,104 | $147,102 | | Total current liabilities | $41,436 | $49,418 | [Condensed Consolidated Statements of Operations](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20for%20the%20Three%20and%20Six%20Months%20Ended%20June%2030,%202025%20and%20June%2030,%202024) Condensed Consolidated Statements of Operations Highlights (in thousands, except per share data) | Metric | 3 Months Ended June 30, 2025 | 3 Months Ended June 30, 2024 | Change | % Change | 6 Months Ended June 30, 2025 | 6 Months Ended June 30, 2024 | Change | % Change | | :-------------------------------- | :--------------------------- | :--------------------------- | :----- | :------- | :--------------------------- | :--------------------------- | :----- | :------- | | Net revenue | $59,338 | $72,590 | $(13,252) | (18.3)% | $122,047 | $150,418 | $(28,371) | (18.9)% | | Total operating costs and expenses | $62,825 | $76,553 | $(13,728) | (17.9)% | $128,275 | $156,084 | $(27,809) | (17.8)% | | Loss from operations | $(3,487) | $(3,963) | $476 | (12.0)% | $(6,228) | $(5,666) | $(562) | 9.9% | | Net loss | $(2,948) | $(2,611) | $(337) | 12.9% | $(5,828) | $(3,178) | $(2,650) | 83.4% | | Basic net loss per share | $(0.02) | $(0.02) | $0.00 | 0.0% | $(0.05) | $(0.02) | $(0.03) | 150.0% | | Diluted net loss per share | $(0.02) | $(0.02) | $0.00 | 0.0% | $(0.05) | $(0.02) | $(0.03) | 150.0% | [Condensed Consolidated Statements of Comprehensive Loss](index=10&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Loss%20for%20the%20Three%20and%20Six%20Months%20Ended%20June%2030,%202025%20and%20June%2030,%202024) Condensed Consolidated Statements of Comprehensive Loss (in thousands) | Metric | 3 Months Ended June 30, 2025 | 3 Months Ended June 30, 2024 | 6 Months Ended June 30, 2025 | 6 Months Ended June 30, 2024 | | :-------------------------------- | :--------------------------- | :--------------------------- | :--------------------------- | :--------------------------- | | Net loss | $(2,948) | $(2,611) | $(5,828) | $(3,178) | | Total other comprehensive income (loss) | $2,134 | $(570) | $2,180 | $(1,678) | | Comprehensive loss | $(814) | $(3,181) | $(3,648) | $(4,856) | - Other comprehensive income in Q2 2025 was positively impacted by a **$1,611k change in foreign currency translation adjustment** and a **$758k unrealized gain from derivative financial instruments**[25](index=25&type=chunk) [Condensed Consolidated Statements of Stockholders' Equity](index=11&type=section&id=Condensed%20Consolidated%20Statements%20of%20Stockholders'%20Equity%20for%20the%20Three%20and%20Six%20Months%20Ended%20June%2030,%202025%20and%20June%2030,%202024) Stockholders' Equity Changes (in thousands) | Metric | Balance as of Dec 31, 2024 | Net loss (6M 2025) | Stock-based compensation (6M 2025) | Repurchase of common stock (6M 2025) | Other comprehensive income (6M 2025) | Balance as of June 30, 2025 | | :------------------------- | :------------------------- | :------------------ | :--------------------------------- | :----------------------------------- | :----------------------------------- | :-------------------------- | | Total Stockholders' Equity | $244,715 | $(5,828) | $9,152 | $(3,499) | $2,180 | $245,291 | - Treasury stock increased from **$51,293k (19,450 shares) at December 31, 2024, to $54,792k (21,739 shares) at June 30, 2025**, primarily due to common stock repurchases[28](index=28&type=chunk)[122](index=122&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=13&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows%20for%20the%20Six%20Months%20Ended%20June%2030,%202025%20and%20June%2030,%202024) Condensed Consolidated Statements of Cash Flows (in thousands) | Cash Flow Activity | 6 Months Ended June 30, 2025 | 6 Months Ended June 30, 2024 | Change | % Change | | :-------------------------------- | :--------------------------- | :--------------------------- | :----- | :------- | | Net cash provided by operating activities | $16,942 | $19,531 | $(2,589) | (13.3)% | | Net cash used in investing activities | $(8,030) | $(13,060) | $5,030 | (38.5)% | | Net cash used in financing activities | $(6,961) | $(32,444) | $25,483 | (78.5)% | | Net change in cash, cash equivalents, and restricted cash | $3,087 | $(26,585) | $29,672 | nm | | Cash, cash equivalents, and restricted cash at end of period | $113,473 | $106,304 | $7,169 | 6.7% | [Notes to Unaudited Condensed Consolidated Financial Statements](index=14&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) Provides detailed explanations and disclosures for financial statements, covering background, accounting policies, segment reporting, acquisitions, related-party transactions, and account specifics [NOTE 1—BACKGROUND AND BASIS OF PRESENTATION](index=14&type=section&id=NOTE%201%E2%80%94BACKGROUND%20AND%20BASIS%20OF%20PRESENTATION) - **PLAYSTUDIOS, Inc.** was incorporated on **August 14, 2020**, and domesticated into a **Delaware corporation on June

分组1 - PLAYSTUDIOS, Inc. reported a quarterly loss of $0.02 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.01, marking an earnings surprise of -100.00% [1] - The company posted revenues of $59.34 million for the quarter ended June 2025, missing the Zacks Consensus Estimate by 3.19% and down from $72.59 million year-over-year [2] - PLAYSTUDIOS shares have declined approximately 41.4% since the beginning of the year, contrasting with the S&P 500's gain of 6.1% [3] 分组2 - The earnings outlook for PLAYSTUDIOS is uncertain, with current consensus EPS estimates indicating breakeven on $64.42 million in revenues for the upcoming quarter and -$0.03 on $259.44 million in revenues for the current fiscal year [7] - The Zacks Industry Rank for Gaming is in the top 38% of over 250 Zacks industries, suggesting that the industry outlook can significantly impact stock performance [8] - The estimate revisions trend for PLAYSTUDIOS was mixed ahead of the earnings release, resulting in a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market [6]