Playtika Holding Corp. Reports Q4 and 2024 Financial Results

Revenue of $650.3 million and Direct-to-Consumer ("DTC") Revenue of $174.6 million

DTC platforms Revenue Increased 0.1% Sequentially and 8.0% Year Over Year

GAAP Net Income of $(16.7) million and Credit Adj. EBITDA of $183.9 million

HERZLIYA, Israel, Feb. 27, 2025 (GLOBE NEWSWIRE) -- Playtika Holding Corp. (NASDAQ: PLTK) today released financial results for its fourth quarter and fiscal year ended December 31, 2024.

Fourth Quarter 2024 Financial Highlights:

   -- Revenue of $650.3 million increased 4.8% sequentially and 1.9% year over 
      year. 
 
   -- DTC platforms revenue of $174.6 million increased 0.1% sequentially and 
      8.0% year over year. 
 
   -- Net income of $(16.7) million decreased (142.5)% sequentially and 
      (144.8)% year over year. 
 
   -- Credit Adjusted EBITDA of $183.9 million decreased (6.7)% sequentially 
      and (2.6)% year over year. 
 
   -- Cash and cash equivalents totaled $565.8 million as of December 31, 2024. 

FY2024 Financial Highlights:

   -- FY2024 revenue of $2,549.3 million compared to $2,567.0 million in the 
      prior year. 
 
   -- DTC platforms revenue of $694.2 million compared to $639.4 million in the 
      prior year. 
 
   -- Net income of $162.2 million compared to $235.0 million in the prior 
      year. 
 
   -- Credit Adjusted EBITDA of $757.7 million compared to $832.2 million in 
      the prior year. 
 
   -- Free Cash Flow of $396.8 million compared to $436.4 million in the prior 
      year1. 

(1) We define Free Cash Flow as net cash provided by operating activities minus capital expenditures.

"We are thrilled with the progress we have made in executing our return to growth strategy, highlighted by our successful acquisition of SuperPlay," said Robert Antokol, Chief Executive Officer. "Looking ahead, we are excited by our pipeline of new games and continued M&A opportunities, which we believe will drive consistent topline growth and create value for our shareholders."

"Our disciplined approach to capital allocation and portfolio management is reflected in our strong EBITDA results, demonstrating our commitment to maximizing returns" said Craig Abrahams, President and Chief Financial Officer. "As we continue to evolve our portfolio mix, we anticipate this year to be transitional as we invest in newly acquired studios in their early stages. We believe these investments will position us for renewed EBITDA growth starting in 2026 and beyond."

Selected Q4 Operational Metrics and Business Highlights

   -- Average Daily Paying Users of 339K increased 12.6% sequentially and 
      increased 10.8% year over year. 
 
   -- Average Payer Conversion of 4.2%, up from 4.0% in Q3 2024 and 3.5% in Q4 
      2023. 
 
   -- Casual games revenue increased 11.6% sequentially and 11.3% year over 
      year. 
 
   -- Social casino-themed games revenue decreased (4.9)% sequentially and 
      (10.0%) year over year. 
 
   -- Bingo Blitz revenue of $159.1 million decreased (0.5)% sequentially and 
      increased 5.8% year over year. 
 
   -- Slotomania revenue of $118.4 million decreased (7.9)% sequentially and 
      (13.5)% year over year. 
 
   -- Solitaire Grand Harvest revenue of $72.5 million decreased (8.1)% 
      sequentially and (4.3)% year over year. 

Playtika Announces Quarterly Dividend

Playtika's Board of Directors declared a cash dividend of $0.10 per share of our outstanding common stock, payable on April 4, 2025 to stockholders of record as of the close of business on March 21, 2025. Future dividends are subject to market conditions and approval by our Board of Directors.

Financial Outlook

For FY2025, revenue expected to be between $2.80 - $2.85 billion and Credit Adjusted EBITDA between $715 - $740 million. Capital expenditures are expected to be $95 million. We expect our effective tax rate to be 35%.

Conference Call

Playtika management will host a conference call at 5:30 a.m. Pacific Time (8:30 a.m. Eastern Time) today to discuss the company's results. The conference call can be accessed via a webcast accessible at investors.playtika.com. A replay of the call will be available through the website one hour following the call and will be archived for one year.

Summary Operating Results of Playtika Holding Corp.

 
                       Three months ended            Year ended 
                          December 31,              December 31, 
(in millions of 
dollars, except 
percentages, 
Average DPUs, and 
ARPDAU)               2024        2023         2024          2023 
                      -----       -----       -------       ------- 
Revenues             $650.3      $637.9      $2,549.3      $2,567.0 
    Total cost and 
     expenses        $595.0      $517.9      $2,157.7      $2,065.4 
Operating income     $ 55.3      $120.0      $  391.6      $  501.6 
Net income           $(16.7)     $ 37.3      $  162.2      $  235.0 
Credit Adjusted 
 EBITDA              $183.9      $188.9      $  757.7      $  832.2 
Net income margin      (2.6)%       5.8   %       6.4   %       9.2   % 
Credit Adjusted 
 EBITDA margin         28.3 %      29.6   %      29.7   %      32.4   % 
 
Non-financial 
performance 
metrics 
    Average DAUs        8.0         8.6           8.1           8.7 
    Average DPUs 
     (in 
     thousands)         339         306           312           310 
    Average Daily 
     Payer 
     Conversion         4.2 %       3.5   %       3.8   %       3.6   % 
    ARPDAU           $ 0.89      $ 0.80      $   0.86      $   0.81 
    Average MAUs       29.1        30.9          29.0          29.4 
 
 

About Playtika Holding Corp.

Playtika (NASDAQ: PLTK) is a mobile gaming entertainment and technology market leader with a portfolio of multiple game titles. Founded in 2010, Playtika was among the first to offer free-to-play social games on social networks and, shortly after, on mobile platforms. Headquartered in Herzliya, Israel, and guided by a mission to entertain the world through infinite ways to play, Playtika has employees across offices worldwide.

Forward Looking Information

This press release 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 press release, including statements regarding our business strategy, plans and our objectives for future operations, are forward-looking statements. Further, statements that include words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "future," "intend," "intent," "may," "might," "potential," "present," "preserve," "project," "pursue," "should," "will, " or "would," or the negative of these words or other words or expressions of similar meaning may identify forward-looking statements.

We have based these forward-looking statements largely on our current expectations and projections about future events and trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives, and financial needs. The achievement or success of the matters covered by such forward-looking statements involves significant risks, uncertainties and assumptions, including, but not limited to, the risks and uncertainties discussed in our filings with the Securities and Exchange Commission. Moreover, we operate in a very competitive and rapidly changing environment and industry. As a result, it is not possible for our management to assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, the forward-looking statements discussed in this press release may not occur and actual results could differ materially and adversely from those anticipated, predicted or implied in the forward-looking statements.

Important factors that could cause actual results to differ materially from estimates or projections contained in the forward-looking statements include without limitation:

   -- actions of our majority shareholder or other third parties that influence 
      us; 
 
   -- our reliance on third-party platforms, such as the iOS App Store, 
      Facebook, and Google Play Store, to distribute our games and collect 
      revenues, and the risk that such platforms may adversely change their 
      policies; 
 
   -- our reliance on a limited number of games to generate the majority of our 
      revenue; 
 
   -- our reliance on a small percentage of total users to generate a majority 
      of our revenue; 
 
   -- our free-to-play business model, and the value of virtual items sold in 
      our games or in the SuperPlay portfolio, is highly dependent on how we 
      manage the game revenues and pricing models; 
 
   -- our inability to integrate SuperPlay into our operations successfully or 
      realize the anticipated benefits of this acquisition; 
 
   -- our inability to refinance our revolving credit facility which is set to 
      expire in March 2026 or otherwise obtain additional financing, in each 
      case, on favorable terms or at all; 
 
   -- the ability of the SuperPlay portfolio to compete in a highly competitive 
      industry with low barriers to entry; 
 
   -- our ability to retain existing players, attract new players and increase 
      the monetization of our player base; 
 
   -- our ability to develop and/or launch new products and content or 
      otherwise execute against our product roadmap strategy; 
 
   -- we have significant indebtedness and are subject to the obligations and 
      restrictive covenants under our debt instruments; 
 
   -- our controlled company status; 
 
   -- legal or regulatory restrictions or proceedings could adversely impact 

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