Playtika Holding Corp. · NASDAQ:PLTK
Playtika — Q2 2023 Earnings Presentation
14 slides from Playtika's earnings presentation, Aug 8, 2023
Slide 1: Second Quarter 2023 Results
PLAYTIKA HOLDING CORP. Second Quarter 2023 Results August 8, 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: Financial Highlights
FINANCIAL HIGHLIGHTS Revenue of $642.8 million, Net Income of $75.7 million, and Credit Adjusted EBITDA of $215.0 million. Revenue decreased (2.0)% sequentially and (2.5)% year over year. Net income decreased (10.0)% sequentially and increased 108.0% year over year. Credit Adjusted EBITDA decreased
Slide 4: Business Highlights
BUSINESS HIGHLIGHTS Average Daily Paying Users of 307K decreased (5.8)% sequentially and (1.0)% year over year. Average Payer Conversion of 3.6%, flat versus the prior quarter and up from 3.2% in the prior year period. Bingo Blitz revenue of $156.3 million decreased (1.8)% sequentially and increased
Slide 5: Quarterly Revenue by Platform
QUARTERLY REVENUE BY PLATFORM 5 Direct-to-Consumer Platforms Revenue Third-Party Platforms RevenueTotal Revenue (2.5)% +7.6% (5.6)% Note: USD in millions. See appendix for definitions of Direct-to-Consumer Platforms.
Slide 6: Selected Quarterly Financials
SELECTED QUARTERLY FINANCIALS 6 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. Net Income +108.0% Credit Adjusted EBITDA and Margin +6.7%
Slide 7: Quarterly KPI Trends
QUARTERLY KPI TRENDS 7 Average Daily Paying Users (in millions) Average Daily Active Users (in millions) Average Revenue per Daily Active User Average Payer Conversion (1.0)% (12.2)% +40 bps +12.2% Note: See appendix for definitions of Average Daily Paying Users, Average Daily Active Users, Average
Slide 8: Revenue Contribution
REVENUE CONTRIBUTION 8Note: See appendix for definitions of Casual Themed Games, Social Casino Themed Games, and Direct-to-Consumer Platforms. Revenue Mix (Casual and Social Casino) Revenue Mix (DTC and 3rd Party Platforms)
Slide 9: Capital Structure Overview
CAPITAL STRUCTURE OVERVIEW 9 Available Liquidity (as of 6/30/23) Debt Maturity Profile (as of 6/30/23) Approximately $1.56 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 1.8x
Slide 10: Fiscal Year 2023 Guidance
FISCAL YEAR 2023 GUIDANCE 10 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 $100 to $105 million • We expect to be at the low end
Slide 11: 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 12: Appendix: Reconciliation of GAAP to Non-GAAP Measure
APPENDIX Reconciliation of GAAP to Non-GAAP Measure 12Note: 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) Amount for the three months ended June 30, 2023 primarily relate to expenses incurred b
Slide 13: Appendix: Reconciliation of GAAP to Non-GAAP Measure
APPENDIX Reconciliation of GAAP to Non-GAAP Measure 13Note: USD in millions. (1) Reflects stock-based compensation expense related to the issuance of equity awards to certain of our employees. (2) Amount primarily relates to expenses incurred by the Company in connection with the evaluation of strat
Slide 14: Appendix: Key Metric Definitions
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