Slide 1: FY23 Result Presentation
FY23 RESULT PRESENTATION AUGUST 2023 2023 Copyright PlaySide Studios Ltd
Slide 2: PlaySide delivered 90% revenue growth
PlaySide delivered 90% revenue growth as its Dumb Ways franchise exploded in popularity and several major new Work for Hire projects were awarded. 2
Slide 3: Results Snapshot
RESULTS SNAPSHOT GAINING MOMENTUM AS THE YEAR PROGRESSED • Record underlying revenue across all divisions • EBITDA and operating cash flow positive in the second half • All major Original IP projects announced around the IPO are now largely complete • Dumb Ways to Die became one of the largest gamin
Slide 4: FY23 Highlights
FY23 HIGHLIGHTS 90% REVENUE GROWTH, EBITDA POSITIVE IN THE SECOND HALF FY22 1H23 2H23 FY23 CHG Underlying Revenue 20.2 16.5 21.9 38.4 90% Original IP 10.0 5.6 9.4 14.9 49% Work for Hire 10.2 10.9 12.6 23.5 130% EBITDA (1.7) (2.7) 1.0 (1.7) D&A (1.0) (1.4) (3.0) (4.4) EBIT (2.7) (4.1) (2.0) (6.1) NPA
Slide 5: FY23 Highlights: Cash Flow Positive in the Second Half
FY23 HIGHLIGHTS CASH FLOW POSITIVE IN THE SECOND HALF FY22 1H23 2H23 FY23 Operating cash flow (0.8) (5.3) 3.7 (1.6) Capitalised dev (6.2) (2.4) (0.5) (2.9) PP&E, leases (1.2) (0.6) (0.6) (1.2) NFT sales (net) 8.4 - - - Capital raising (net) 26.7 - - - Net cash flow 27.0 (8.3) 2.6 (5.7) Forex movemen
Slide 6: Quarterly Revenue
QUARTERLY REVENUE SOME VARIABILITY FROM QUARTER TO QUARTER… 13 QUARTERLY 10 9 COMPOUND REVENUE GROWTH 6 6 18% 5 5 4 SEPT DEC MAR JUN SEPT DEC MAR JUN 21 21 22 22 22 22 23 23 Note: Normalised for $9m NFT sales. Figures rounded to the nearest million. 6
Slide 7: Growth Trajectory
GROWTH TRAJECTORY …BUT ANNUAL GROWTH HAS BEEN A CONSISTENT THEME 50-55 ANNUAL COMPOUND 38.4 REVENUE GROWTH 73% REVENUE GROWTH 20.2 IMPLIED BY GUIDANCE 10.9 30-43% 4.3 7.0 FY24 FY19 FY20 FY21 FY22 FY23 GUIDANCE Note: FY22 normalised for $9m NFT sales. Pre-IPO figures are statutory historicals as repo
Slide 8: Key Events
KEY EVENTS PROJECTS ANNOUNCED IN IPO YEAR ARE LARGELY COMPLETE PC TITLES Original IP projects Age of Darkness campaign mode announced during the ORIGINAL IP World Boss global launch IPO year are now largely MOBILE TITLES complete, with staff LAUNCHES Global launch of Legally Blonde progressively mov
Slide 9: Interactive entertainment is the #1 entertainment vertical globally
Interactive entertainment is the #1 entertainment vertical globally, with an estimated 3.2 billion video game players globally. Source: Take Two Interactive JunQ23 report 9
Slide 10: The video games industry is approaching US$200bn
65% 32 THE VIDEO GAMES INDUSTRY IS APPROACHING US$200BN OF AMERICANS PLAY VIDEO GAMES IS THE AVERAGE AGE OF A VIDEO GAME PLAYER FOR AT LEAST AN HOUR EACH WEEK CONSOLE PC US$39BN US$56BN US$188BN 76% +2.6% VS PCP OF US PARENTS PLAY VIDEO GAMES WITH THEIR CHILDREN MOBILE US$93BN 45% OF GAMERS ARE FEMA
Slide 11: Virtual and Mixed Reality
VIRTUAL AND MIXED REALITY INDUSTRY INVESTMENT CONTINUES TO GROW • Meta announces the Quest 3 next-generation virtual and mixed reality headset • Roblox available on Meta Quest as open beta, achieves 1m downloads in the first week • Apple unveils the Vision Pro augmented reality headset • Unity partn
Slide 12: Brand owners are using transmedia
Brand owners are using transmedia to add depth, breadth and reach to their stories, with some of the worlds hottest properties starting as gaming IP. Note: This image is the property of Rovio Entertainment 12
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Slide 14: PlaySide continues to extend the reach and value of Dumb Ways to Die
PlaySide continues to extend the reach and value of its Dumb Ways to Die IP, which is significantly greater than when we acquired it. 14
Slide 15: 1 BN 5.1 M 527 M
1BN VIEWS 5.1M 453K FOLLOWERS FOLLOWERS WNLOADS 527M 500M+ DO 1.3M COUNTING VIEWS SUBSCRIBERS 15
Slide 16: Dumb Ways to Die
DUMB WAYS TO DIE INVESTING IN NEW CONTENT TO SUPPORT THE BRAND DUMB WAYS VR 5M DUMB WAYS TikTok follower count TO CLIMB LAUNCH DUMB WAYS 4M TO DIE 4 VIRAL VIDEO DUMB 3M WAYS CARD GAME DUMB WAYS TO DRAW 2 LAUNCH TO SURVIVE 2M 1M 0M AUG 22 SEPT 22 OCT 22 NOV 22 DEC 22 JAN 23 FEB 23 MAR 23 APR 23 MAY 2
Slide 17: Dumb Ways to Die: We Can Take This Brand a Lot Further
DUMB WAYS TO DIE WE CAN TAKE THIS BRAND A LOT FURTHER! RECENT INITIATIVES • VR title for Meta Quest devices • Dumb Ways to Survive - premium mobile title for Netflix Games • Card game deal with Spin Master • Beanland - online battle royale for PC • Console title in concepting phase “ With more than
Slide 18: PlaySide is committed to developing valuable Original IP content
PlaySide is committed to developing valuable Original IP content across multiple platforms, supported by a pipeline of multi-year Work for Hire projects. 18 18
Slide 19: Publishing
PUBLISHING TWO TITLES SIGNED TO LAUNCH IN 2024 FIRST YEAR OF OPERATION • Established July 2022 • Three experienced staff based in the UK, supported by game review team in Melbourne CURRENT GAME PORTFOLIO • Dynasty of the Sands (Rocket Flair Studios) • Creative/survival city builder • Thrive: Heavy L
Slide 20: Division Focus Original IP Project Pipeline
DIVISION FOCUS ORIGINAL IP PROJECT PIPELINE • EXPAND REACH/VALUE BEANLAND DUMB WAYS DUMB WAYS PC TITLE • NEW PLATFORMS TO SURVIVE VR LAUNCH: DECQ23 • AAA PARTNERS UNNAMED CONSOLE TITLE • MARKETING/SOCIALS LAUNCH: JUNQ24 LAUNCH: DECQ24 LAUNCH: TBC • RAPID CONCEPTING 3-6 CONCEPTS TO BE LAUNCHED DURING
Slide 21: Outlook
OUTLOOK ANOTHER YEAR OF STRONG GROWTH • Substantial investment in Original IP development • New titles across mobile, PC/Console and VR • Titles to be announced once greenlit • FY24 revenue guidance of $50-55m • Implies 30-43% revenue growth on FY23 • 50:50 WFH/Original IP revenue split, 1H weighted