Playtika(PLTK) - 2025 Q1 - Quarterly Results

Revenue Performance - Revenue for Q1 2025 was $706.0 million, an increase of 8.6% sequentially and 8.4% year over year[1] - Direct-to-Consumer (DTC) revenue reached $179.2 million, up 2.6% sequentially and 4.5% year over year[5] - Bingo Blitz generated $162.4 million in revenue, an increase of 2.1% sequentially and 3.1% year over year[6] - Slotomania revenue decreased to $111.8 million, down 5.5% sequentially and 17.4% year over year[6] - The company reaffirmed its revenue guidance for 2025 to be between $2.80 billion and $2.85 billion[8] Profitability Metrics - GAAP Net Income was $30.6 million, a decrease of 42.3% year over year[5] - Adjusted Net Income was $36.2 million, up 34.1% sequentially but down 39.6% year over year[5] - Net income margin decreased to 4.3% in Q1 2025 from 8.1% in Q1 2024, indicating a decline in profitability[30] - Adjusted Net Income for Q1 2025 was $36.2 million, down from $59.9 million in Q1 2024, a decrease of 39.6%[33] Cash Flow and Investments - Cash, cash equivalents, and short-term investments totaled $514.3 million as of March 31, 2025[5] - Cash flows from operating activities decreased to $18.8 million in Q1 2025 from $29.6 million in Q1 2024, representing a decline of 36.5%[22] - Free Cash Flow for Q1 2025 was $(6.5) million, compared to $(5.3) million in Q1 2024, indicating a worsening cash flow situation[24] - Cash, cash equivalents, and restricted cash at the end of Q1 2025 were $436.3 million, down from $1,017.5 million at the end of Q1 2024, a decline of 57.0%[22] - Net cash used in investing activities increased significantly to $(105.1) million in Q1 2025 from $(35.9) million in Q1 2024[22] - The company paid dividends of $37.3 million in Q1 2025, compared to no dividends paid in Q1 2024[22] Operational Efficiency - Adjusted EBITDA was $167.3 million, down 9.0% sequentially and 9.9% year over year[5] - Adjusted EBITDA for Q1 2025 was $167.3 million, down from $185.6 million in Q1 2024, reflecting a decrease of 9.0%[30] - Adjusted EBITDA margin decreased to 23.7% in Q1 2025 from 28.5% in Q1 2024, indicating reduced operational efficiency[30] - The company reported an impairment charge of $7.0 million in Q1 2024, which was not present in Q1 2025, affecting net income comparisons[33] User Engagement - Average Daily Paying Users (DPUs) increased to 390K, a rise of 15.0% sequentially and 26.2% year over year[6]