Business
Playtika Holding Corp. Reports Q3 2023 Financial Results
Total Revenue of $630.1 million and DTC Platforms Revenue of $161.0 million GAAP Net Income of $37.9 million and Credit Adj. EBITDA of $205.6 million
About this update from Playtika Holding Corp.
[{"type":"text","content":"Total Revenue of $630.1 million and DTC Platforms Revenue of $161.0 million GAAP Net Income of $37.9 million and Credit Adj. EBITDA of $205.6 million Completes Acquisition of Youda Games and InnPlay Labs HERZLIYA, Israel, Nov. 08, 2023 (GLOBE NEWSWIRE) -- Playtika Holding Corp. (NASDAQ: PLTK) today released financial results for its third quarter for the period ending September 30, 2023. Financial Highlights: Revenue of $630.1 million decreased (2.0)% sequentially and (2.7)% year over year.DTC platforms revenue of $161.0 million decreased (2.6)% sequentially and increased 6.8% year over year.Net income of $37.9 million decreased (49.9)% sequentially and (44.4)% year over year.Credit Adjusted EBITDA of $205.6 million decreased (4.4)% sequentially and increased 1.0% year over year.Cash and cash equivalents totaled $878.2 million as of September 30, 2023. “Our commitment to operational stability and delivering exceptional immersive gaming experiences remains unwavering amid the backdrop of conflict,” said Robert Antokol, Chief Executive Officer. “It is in the very DNA and culture of Playtika to persevere, adapt and thrive. Our team in Israel and around the globe is dedicated to upholding our mission, serving our players and delivering value to our investors, even in the face of adversity.” “Through resolute management we continue to generate robust free cash flow and deliver strong Credit Adj. EBITDA margins to invest in strategic, high-ROI activities like our two recent acquisitions of InnPlay Labs and Youda Games,” said Craig Abrahams, President and Chief Financial Officer. “We will continue to focus on leveraging our proprietary technology and live operations to optimize games and enhance the player experience.” Selected Operational Metrics and Business Highlights Average Daily Paying Users of 299K decreased (2.6)% sequentially and (3.5)% year over year.Average Payer Conversion of 3.6%, flat vs. the prior quarter and increased from 3.4% in the prior year period.Casual games revenue decreased (2.1)% sequentially and flat year over year.Social casino-themed games revenue decreased (1.7)% sequentially and (6.6)% year over year.Bingo Blitz revenue of $149.7 million decreased (4.3)% sequentially and (4.6)% year over year.Solitaire Grand Harvest revenue of $79.1 million decreased (3.3)% sequentially and increased 13.7% year over year....