Playtika Holding Corp. · NASDAQ:PLTK
Playtika — Q1 2024 Earnings Presentation
14 slides from Playtika's earnings presentation, May 9, 2024
Slide 1: First Quarter 2024 Results
PLAYTIKA HOLDING CORP. First Quarter 2024 Results May 9, 2024
Slide 2: Legal Disclaimer
LEGAL DISCLAIMER Forward-Looking Statements This presentation contains “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Section 21E of the Exchange Act. All statements other than statements of historical facts contained in this prese nt
Slide 3: Q1 Financial Highlights
Q1 FINANCIAL HIGHLIGHTS Revenue of $651.2 million, Net Income of $53.0 million, and Credit Adjusted EBITDA of $185.6 million Revenue increased by 2.1% sequentially and decreased (0.8)% year over year. Net income increased by 42.1% sequentially and decreased by (37.0)% year over year. Credit Adjusted
Slide 4: Q1 Business Highlights
Q1 BUSINESS HIGHLIGHTS Average Daily Paying Users of 309K increased 1.0% sequentially and decreased (5.2)% year over year. Average Payer Conversion of 3.5%, flat vs. prior quarter and down from 3.6% in the prior year period. Bingo Blitz revenue of $157.5 million increased 4.8% sequentially and decre
Slide 5: Quarterly Revenue by Platform
QUARTERLY REVENUE BY PLATFORM Total Revenue Direct-to-Consumer Platforms Revenue Third-Party Platforms Revenue (0.8)% +13.2% (5.0)% Note: USD in millions. See appendix for definitions of Direct-to-Consumer Platforms. 5
Slide 6: Selected Quarterly Financials
SELECTED QUARTERLY FINANCIALS Net Income Credit Adjusted EBITDA and Margin (16.7)% (37.0)% Note: USD in millions. See appendix for definitions of Credit Adjusted EBITDA. Credit Adjusted EBITDA is a non-gaap measure, see reconciliation on slide 12. 6
Slide 7: Quarterly KPI Trends
QUARTERLY KPI TRENDS Average Daily Paying Users (in millions) Average Daily Active Users (in millions) (5.2)% (3.3)% Average Revenue per Daily Active User Average Payer Conversion +1.3% (10)bps Note: See appendix for definitions of Average Daily Paying Users, Average Daily Active Users, Average Reve
Slide 8: Revenue Contribution
REVENUE CONTRIBUTION Revenue Mix Revenue Mix (Casual and Social Casino) (DTC and 3rd Party Platforms) Note: See appendix for definitions of Casual Themed Games, Social Casino Themed Games, and Direct-to-Consumer Platforms. 8
Slide 9: Capital Structure Overview
CAPITAL STRUCTURE OVERVIEW Available Liquidity Debt Maturity Profile Capital Structure and (as of 3/31/24) (as of 3/31/24) Capital Allocation Approximately $1.62 billion in available liquidity Liquidity is expected to continue to improve with Free Cash Flow generation No near-term debt maturities Ne
Slide 10: Fiscal Year 2024 Guidance
FISCAL YEAR 2024 GUIDANCE FY23 Actual FY24 Guidance Revenue $2,567.0 million $2,520 million to $2,620 million Credit Adjusted EBITDA $832.2 million $730 million to $770 million Credit Adjusted EBITDA Margin 32.4% 29.0% to 29.4% Capital Expenditures $79.2 million (1) $110 million to $115 million (2)
Slide 11: Appendix: Non-GAAP Financial Measure
APPENDIX Non-GAAP Financial Measure 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) impair
Slide 12: Appendix: Reconciliation of GAAP to Non-GAAP Measure
APPENDIX Reconciliation of GAAP to Non-GAAP Measure Three Months Ended, March 31, 2023 June 30, 2023 September 30, 2023 December 31, 2023 March 31, 2024 Credit Adjusted EBITDA Reconciliation Net Income $ 84.1 $ 75.7 $ 37.9 $ 37.3 $ 53.0 Provision for income taxes 39.7 40.4 26.9 50.1 21.9 Interest ex
Slide 13: Appendix: Reconciliation of GAAP to Non-GAAP Measure (Twelve Months)
APPENDIX Reconciliation of GAAP to Non-GAAP Measure Twelve Months Ended, December 31, 2022 December 31, 2023 Credit Adjusted EBITDA Reconciliation Net Income $ 275.3 $ 235.0 Provision for income taxes 85.5 157.1 Interest expense and other, net 110.6 109.5 Depreciation and Amortization 162.0 158.0 EB
Slide 14: Appendix: Glossary of Key Terms
APPENDIX Glossary of Key Terms 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 in