M
PLAYSTUDIOS, Inc.
MYPSWCIK 0001823878NasdaqAcceleratedSmaller ReportingServices-Prepackaged SoftwareFY ends Dec 31
Period
FY 2025
Revenue
$235.10M
Net Income
$-28.64M
Total Assets
—
Equity
—
Shares Out
125.75M
Op. Cash Flow
$26.34M
Business
PLAYSTUDIOS, Inc. is a developer and operator of free-to-play casual and social casino games for mobile and social platforms that integrates a proprietary loyalty program into its gaming experiences. Its main offerings include a portfolio of social casino, card, and puzzle games alongside the playAWARDS loyalty platform that enables players to earn and redeem real-world rewards; revenue is generated primarily through voluntary in-game virtual currency purchases and in-game advertising. The company operates multiple game studios with dedicated live-operations, marketing, and loyalty-platform teams. Its games are distributed through app stores and web portals and leverage a global network of rewards partners and international markets.
Summary from filing dated 2025-03-14
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Net revenue | 235 | 289 | 311 | 290 | 287 | |
| Cost of sales | 57 | 73 | 78 | 85 | 92 | |
| Selling and marketing | 55 | 65 | 74 | 81 | 79 | |
| Research and development | 58 | 68 | 70 | 63 | 61 | |
| General and administrative | 46 | 46 | 45 | 40 | 28 | |
| Depreciation and amortization | 38 | 45 | 45 | 36 | 27 | |
| Restructuring and related | 3 | 26 | 9 | 13 | 3 | |
| Total operating costs and expenses | 259 | 322 | 321 | 318 | 290 | |
| Loss from operations | −24 | −33 | −10 | −28 | −3 | |
| Change in fair value of warrant liabilities | 156,000 | 856,000 | 3 | 1 | 14 | |
| Change in fair value of contingent consideration | −5 | −85,000 | — | — | — | |
| Interest income, net | 3 | 5 | 5 | — | — | |
| Other expense, net | −910,000 | −97,000 | 513,000 | 1 | −229,000 | |
| Total other (loss) income, net | −3 | 6 | 8 | 4 | 13 | |
| Loss before income taxes | −27 | −27 | −3 | −24 | 10 | |
| Income tax expense | −2 | −1 | −17 | 6 | 258,000 | |
| Net loss | −29 | −29 | −19 | −18 | 11 | |
| Basic (USD per share) | −0.23 | −0.22 | −0.15 | −0.14 | 0.1 | |
| Diluted (USD per share) | −0.23 | −0.22 | −0.15 | −0.14 | 0.09 | |
| Basic (shares) | 126 | 129 | 133 | 128 | 112 | |
| Diluted (shares) | 126 | 129 | 133 | 128 | 125 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2022 2022-09-30 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 105 | 109 | 133 | 134 | — | |
| Receivables, net | 23 | 31 | 30 | 27 | — | |
| Prepaid expenses and other current assets | 7 | 7 | 12 | 15 | — | |
| Total current assets | 135 | 147 | 175 | 176 | — | |
| Property and equipment, net | 13 | 16 | 18 | 18 | — | |
| Operating lease right-of-use assets | 8 | 10 | 9 | 16 | — | |
| Intangibles assets and internal-use software, net | 76 | 91 | 111 | 77 | — | |
| Goodwill | 52 | 52 | 47 | 47 | 41 | |
| Other long-term assets | 6 | 7 | 4 | 5 | — | |
| Total non-current assets | 156 | 176 | 191 | 176 | — | |
| Total assets | 291 | 323 | 366 | 352 | — | |
| Accounts payable | 1 | 2 | 2 | 4 | — | |
| Operating lease liabilities, current | 4 | 3 | 4 | 5 | — | |
| Contingent consideration, current | 6 | 0 | — | — | — | |
| Accrued and other current liabilities | 32 | 44 | 40 | 21 | — | |
| Total current liabilities | 43 | 49 | 46 | 34 | — | |
| Minimum guarantee liability | 12 | 18 | 24 | 2 | — | |
| Operating lease liabilities, noncurrent | 4 | 7 | 6 | 12 | — | |
| Contingent consideration, noncurrent | 3 | 3 | 0 | — | — | |
| Other long-term liabilities | 757,000 | 823,000 | 1 | 2 | — | |
| Total non-current liabilities | 20 | 29 | 32 | 16 | — | |
| Total liabilities | 63 | 78 | 78 | 50 | — | |
| Commitments and contingencies (Note 17) | — | — | — | — | — | |
| Preferred stock, $0.0001 par value (100,000 shares authorized, 0 shares issued and outstanding as of December 31, 2025 and December 31, 2024) | 0 | 0 | 0 | 0 | — | |
| Additional paid-in capital | 341 | 328 | 311 | 290 | — | |
| Accumulated deficit | −60 | −31 | −3 | 17 | — | |
| Accumulated other comprehensive income (loss) | 2 | −632,000 | 124,000 | −151,000 | — | |
| Treasury stock, at cost, 21,739 and 19,450 shares at December 31, 2025 and December 31, 2024, respectively | −55 | −51 | −20 | −5 | — | |
| Total stockholders equity | 228 | 245 | 288 | 302 | — | |
| Total liabilities and stockholders equity | 291 | 323 | 366 | 352 | — |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Amortization of loan costs | 174,000 | 164,000 | 151,000 | 145,000 | 368,000 | |
| Stock-based compensation expense | 14 | 18 | 19 | 18 | 4 | |
| Change in fair value of contingent consideration | 5 | 85,000 | −950,000 | −2 | 0 | |
| Asset impairments and write-downs | 0 | 9 | 2 | 8 | 0 | |
| Deferred income tax benefit | −710,000 | −2 | 12 | −8 | −2 | |
| Other | 1 | 980,000 | 570,000 | 490,000 | 2 | |
| Receivables, net | 4 | 4 | −5 | −1 | −4 | |
| Prepaid expenses and other current assets | −822,000 | 1 | −1 | 204,000 | 90,000 | |
| Income tax receivable | 691,000 | 1 | −744,000 | 246,000 | 5 | |
| Accounts payable & accrued liabilities | −8 | 651,000 | 1 | 2 | 4 | |
| Other | 913,000 | −4 | 1 | −792,000 | 768,000 | |
| Net cash provided by operating activities | 26 | 46 | 52 | 33 | 34 | |
| Payment for business combination | 0 | −3 | 0 | −70 | 0 | |
| Purchase of property and equipment | −968,000 | −4 | −6 | −12 | −2 | |
| Additions to internal-use software | −16 | −19 | −22 | −21 | −26 | |
| Other | −409,000 | −290,000 | 164,000 | 2 | 2 | |
| Net cash used in investing activities | −17 | −26 | −32 | −102 | −57 | |
| Proceeds from stock option exercises | 122,000 | 287,000 | 3 | 1 | 2 | |
| Repurchases of treasury stock | −3 | −31 | −15 | −4 | 0 | |
| Payments for minimum guarantee obligations | −10 | −8 | −5 | −5 | 0 | |
| Payments for tax withholding of stock-based compensation | −2 | −3 | −3 | 0 | 0 | |
| Net cash used in financing activities | −15 | −42 | −20 | −10 | 187 | |
| Foreign currency translation | 1 | −638,000 | −345,000 | −966,000 | 743,000 | |
| Net change in cash, cash equivalents, and restricted cash | −4 | −23 | −1 | −80 | 165 | |
| Interest paid | 791,000 | 165,000 | 189,000 | 150,000 | 125,000 | |
| Income taxes paid, net of (refunds) | 2 | 2 | 6 | 2 | −4 | |
| Capitalization of stock-based compensation | 565,000 | 1 | 2 | 3 | 657,000 | |
| Additions to intangible assets related to licensing agreements | 3 | 8 | 47 | 3 | 5 | |
| Lease modifications | 654,000 | 3 | 2 | — | — | |
| Right-of-use assets acquired under operating leases | 0 | 1 | 0 | — | — | |
| Contingent and deferred consideration related to business combination | 0 | 3 | 0 | 3 | 0 |
Filings
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