Business
Playtika Holding Corp. Reports Q4 and 2022 Financial Results
Achieved Financial Performance within our Previously Issued Range for Guidance2022 Revenue Increased 1.3% YoY; Direct-to-Consumer Platforms Revenue Increased
About this update from Playtika Holding Corp.
[{"type":"text","content":"Achieved Financial Performance within our Previously Issued Range for Guidance2022 Revenue Increased 1.3% YoY; Direct-to-Consumer Platforms Revenue Increased 14.7%Q4 Revenue Declined (2.7)% YoY; Direct-to-Consumer Platforms Revenue Increased 6.6% HERZLIYA, Israel, Feb. 28, 2023 (GLOBE NEWSWIRE) -- Playtika Holding Corp. (NASDAQ: PLTK) today released financial results for its fourth quarter and fiscal year ended December 31, 2022. Fourth Quarter 2022 Financial Highlights: Fourth quarter revenue of $631.2 million compared to $649.0 million in the prior year period.DTC platforms revenue of $150.2 million compared to $140.9 million in the prior year period.Net income of $87.5 million compared to $102.3 million in the prior year period.Credit adjusted EBITDA was $202.6 million compared to $176.1 million in the prior year period.Retention Plan Adjusted EBITDA1 was $228.9 million compared to $212.5 million in the prior year period.Cash and cash equivalents and short-term bank deposits totaled $768.7 million as of December 31st, 2022. FY2022 Financial Highlights: 2022 revenue of $2,615.5 million compared to $2,583.0 million in the prior year.DTC platforms revenue of $606.9 million compared to $529.0 million in the prior yearNet income of $275.3 million compared to $308.5 million in the prior year.Credit adjusted EBITDA of $805.1 million compared to $848.7 million in the prior year.Retention Plan Adjusted EBITDA1 of $919.0 million compared to $982.7 million in the prior year.Free cash flow of $383.7 million compared to $452.1 million in the prior year “I am proud of the way we have executed our business during a challenging year for the mobile gaming industry,” said Robert Antokol, Chief Executive Officer of Playtika. “Fueled by pioneering technological innovation and a tireless ambition to inspire exploration, connectivity and fun among our loyal player community, we are delivering immersive personalized entertainment experiences and advancing our position as the industry’s premier game operator.” “We made several strategic decisions in FY22 to position the company for continued success,” said Craig Abrahams, President and Chief Financial Officer. “Playtika’s durable business model, combined with the efficiency measures we have taken over the last year, puts us in a strong position to continue to generate value for our shareholders.” Se...