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Jun 30, 2023
Playstudios Q2 2023 Earnings Report
Announced second quarter results with revenue of $77.8 million and a net loss of $0.8 million.
Key Takeaways
PLAYSTUDIOS reported a solid second quarter in 2023, with revenue and AEBITDA exceeding expectations. Revenue reached $77.8 million, and the company saw significant growth in AEBITDA margins, driven by portfolio momentum, execution focus, and cost discipline.
Revenue was $77.8 million, compared to $68.4 million in the second quarter of 2022.
Net loss was $0.8 million, compared to net income of $5.5 million in the second quarter of 2022.
AEBITDA was $16.3 million, compared to $7.3 million in the second quarter of 2022.
AEBITDA margins grew over 1,000 basis points year over year to 20.9%.
Forward Guidance
The Company is increasing its 2023 AEBITDA guidance to a range of $55 to $60 million from the previous range of $50 to $60 million. 2023 Revenue guidance of $305 to $325 million remains unchanged. At the midpoint of guidance, this implies year/year revenue growth of 9% and year/year AEBITDA growth of 50%.
Historical Earnings Impact
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