Playtika Holding Corp. · NASDAQ:PLTK
Playtika — FY2022 Earnings Presentation
18 slides from Playtika's earnings presentation, Feb 28, 2023
Slide 1: Fourth Quarter and Fiscal Year 2022 Results
PLAYTIKA HOLDING CORP. Fourth Quarter and Fiscal Year 2022 Results February 28, 2023
Slide 2: Legal Disclaimer
LEGAL DISCLAIMER Forward-Looking Statements This presentation contains forward-looking statements. All statements contained in this presentation other than statements of historical facts, including statements regarding our business strategy, plans, market growth and our objectives for future operati
Slide 3: FY2022 Financial Results Summary
FY2022 FINANCIAL RESULTS SUMMARY 3 Guidance Actual Revenue $2,600 to $2,660 million $2,615.5 million Net Income - $275.3 million Net Income Margin % - 10.5% Credit Adjusted EBITDA - $805.1 million Credit Adjusted EBITDA Margin % - 30.8% Retention Plan Adjusted EBITDA $900 to $940 million $919.0 mill
Slide 4: FY2022 Selected Highlights
FY2022 SELECTED HIGHLIGHTS FY22 Revenue of $2,615.5 million, Net Income of $275.3 million, Credit Adjusted EBITDA of $805.1 million, and Retention Plan Adjusted EBITDA of $919.0 million Revenue increased by 1.3% Y/Y Net income declined by (10.8)% Y/Y Credit Adjusted EBITDA declined by (5.1)% Y/Y Ret
Slide 5: FY2022 Financial Highlights
FY2022 FINANCIAL HIGHLIGHTS 5 Revenue Free Cash Flow +1.3% (15.1)% Note: USD in millions. See appendix for definitions of Credit Adjusted EBITDA and Free Cash Flow. Credit Adjusted EBITDA and Free Cash Flow are non-gaap measures, see reconciliation on slides 15 and 16. Net Income (10.8)% Credit Adju
Slide 6: Q4 Operating Highlights
Q4 OPERATING HIGHLIGHTS FY22 Q4 Revenue of $631.2 million, Net Income of $87.5 million, Credit Adjusted EBITDA of $202.6 million, and Retention Plan Adjusted EBITDA of $228.9 million Revenue declined by (2.7)% Y/Y Net income declined by (14.5)% Y/Y Credit Adjusted EBITDA increased by 15.0% Y/Y Reten
Slide 7: Q4 Business Highlights
Q4 BUSINESS HIGHLIGHTS Bingo Blitz, Q4 revenue: $155.1 million, 18.4% increase year-over-year Highest revenue grossing game in our portfolio Several in-game Live Operations celebrations around Bingo’s 12-year anniversary New Team gameplay mechanism, where our players can work together to complete mi
Slide 8: Quarterly KPI Trends
QUARTERLY KPI TRENDS 8 Average Daily Paying Users (in millions) Average Daily Active Users (in millions) Average Revenue per Daily Active User Average Payer Conversion +0.6% (14.6)% +50 bps +14.7% Note: See appendix for definitions of Average Daily Paying Users, Average Daily Active Users, Average R
Slide 9: Quarterly Revenue by Platform
QUARTERLY REVENUE BY PLATFORM 9 Direct-to-Consumer Platforms Revenue Third-Party Platforms RevenueTotal Revenue (2.7)% +6.6% (5.3)% Note: USD in millions. See appendix for definitions of Direct-to-Consumer Platforms.
Slide 10: Revenue Contribution
REVENUE CONTRIBUTION 10 Revenue Mix (Casual and Social Casino) Revenue Mix (DTC and 3rd Party Platforms) Note: See appendix for definitions of Casual Themed Games, Social Casino Themed Games, and Direct-to-Consumer Platforms.
Slide 11: Selected Quarterly Financials
SELECTED QUARTERLY FINANCIALS 11 Note: USD in millions. See appendix for definitions of Credit Adjusted EBITDA. Credit Adjusted EBITDA is a non-gaap measure, see reconciliation on slide 15. Net Income (14.5)% Credit Adjusted EBITDA and Margin +15.0%
Slide 12: Capital Structure Overview
CAPITAL STRUCTURE OVERVIEW 12 Available Liquidity (as of 12/31/22) Debt Maturity Profile (as of 12/31/22) Approximately $1.37 billion in available liquidity Liquidity will continue to improve with significant Free Cash Flow generation No near-term debt maturities Net LTM leverage of approximately 2.
Slide 13: Fiscal Year 2023 Guidance
FISCAL YEAR 2023 GUIDANCE 13 FY22 Actual FY23 Guidance Revenue $2,615.5 million $2,570 - $2,620 million Credit Adjusted EBITDA $805.1 million $805 - $830 million Credit Adjusted EBITDA Margin 30.8% 31.3% to 31.7% Capital Expenditures $110 million $115 - $120 million Note: USD in millions. See append
Slide 14: Appendix: Credit Adjusted EBITDA Definition
APPENDIX Credit Adjusted EBITDA: Our Credit Agreement defines Adjusted EBITDA (which we call “Credit Adjusted EBITDA”) as net income b efore (i) interest expense, (ii) interest income, (iii) provision for income taxes, (iv) depreciation and amortization expense, (v) stock -based compensation, (vi) c
Slide 15: Reconciliation of GAAP to Non-GAAP Measure
APPENDIX Reconciliation of GAAP to Non-GAAP Measure 15Note: USD in millions. (1) Reflects, for all years, stock-based compensation expense related to the issuance of equity awards to certain of our employees. (2) Amounts for the year ended December 31, 2022 primarily relate to expenses incurred by t
Slide 16: Reconciliation of GAAP to Non-GAAP Measure (Continued)
APPENDIX Reconciliation of GAAP to Non-GAAP Measure (Continued) 16Note: USD in millions. Twelve Months Ended, December 31, 2021 December 31, 2022 Free Cash Flow Reconciliation Net cash provided by operating activities 551.7$ 493.7$ Purchase of property and equipment 47.4 68.3 Capitalization of inter
Slide 17: Appendix: Glossary of Key Terms
APPENDIX Average Revenue per Daily Active User: or “ARPDAU” means (i) the total revenue in a given period, (ii) divided by the number of days in that period, (iii) divided by the average Daily Active Users during that period. Daily Active Users: or “DAUs” means the number of individuals who played o
Slide 18: Appendix: Glossary of Key Terms (Continued)
APPENDIX Credit Adjusted EBITDA: Our Credit Agreement defines Adjusted EBITDA (which we call “Credit Adjusted EBITDA”) as net income before (i) interest expense, (ii) interest income, (iii) provision for income taxes, (iv) depreciation and amortization expense, (v) stock-based compensation, (vi) con