Playtika Holding Corp. · NASDAQ:PLTK
Playtika — Q3 2023 Earnings Presentation
14 slides from Playtika's earnings presentation, Nov 8, 2023
Slide 1: Third Quarter 2023 Results
PLAYTIKA HOLDING CORP. Third Quarter 2023 Results November 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 $630.1 million, Net Income of $37.9 million, and Credit Adjusted EBITDA of $205.6 million. Revenue decreased (2.0)% sequentially and (2.7)% year over year. Net income decreased (49.9)% sequentially and (44.4)% year over year. Credit Adjusted EBITDA decreased (4.4)% se
Slide 4: Business Highlights
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 versus the prior quarter and up from 3.4% in the prior year period. Bingo Blitz revenue of $149.7 million decreased (4.3)% sequentially and (4.6)% ye
Slide 5: Quarterly Revenue by Platform
QUARTERLY REVENUE BY PLATFORM Total Revenue Direct-to-Consumer Platforms Revenue Third-Party Platforms Revenue (2.7)% +6.8% (5.6)% 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 +1.0% (44.4)% 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) (6.7)% (3.5)% Average Revenue per Daily Active User Average Payer Conversion +3.8% +20 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 9/30/23) (as of 9/30/23) Capital Allocation Approximately $1.48 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 2023 Guidance
FISCAL YEAR 2023 GUIDANCE FY22 Actual FY23 Guidance Revenue $2,615.5 million $2,550 to $2,565 million Credit Adjusted EBITDA $805.1 million $825 to $832 million Credit Adjusted EBITDA Margin 30.8% 32.4% Capital Expenditures $110 million $95 million Credit Adjusted EBITDA minus Capital Expenditures $
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 (1) Reflects, for the three months ended September 30, 2023 and 2022, stock-based compensation expense related to the issuance of equity awards to certain of our employees. (2) Amounts for the three months ended September 30, 2023 and 2022 primaril
Slide 13: Appendix: Reconciliation of GAAP to Non-GAAP Measure
APPENDIX Reconciliation of GAAP to Non-GAAP Measure (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 strategic alternatives for the
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