Playstudios Q2 2024 Earnings Report
Key Takeaways
PLAYSTUDIOS reported a decrease in revenue to $72.6 million compared to $77.8 million in the same quarter last year, and a net loss of $2.6 million, which is a larger loss than the $0.8 million reported in Q2 2023. The company's Consolidated AEBITDA also decreased to $14.1 million from $16.3 million year-over-year. Despite these challenges, the company completed several strategic initiatives and remains focused on building a strong business.
Revenue was $72.6 million, down from $77.8 million in Q2 2023.
Net loss was $2.6 million, compared to a net loss of $0.8 million in Q2 2023.
Consolidated AEBITDA was $14.1 million, down from $16.3 million in Q2 2023.
The company purchased 11.7 million shares of Class A common stock from Microsoft.
Playstudios
Playstudios
Playstudios Revenue by Segment
Forward Guidance
The company is revising its 2024 guidance to revenues between $285 and $295 million and Consolidated AEBITDA between $55 and $60 million.
Challenges Ahead
- Continued weakness in the broader social casino category.
- Revenues are projected to be in the range of $285 and $295 million compared to the prior outlook of $315 to $325 million.
- Consolidated AEBITDA is expected to be between $55 and $60 million vs. prior expectations of $65 and $70 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income