PLAYSTUDIOS Q2 revenue $72.6M, net loss $2.6M; cuts FY2024 guidance

PLAYSTUDIOS, Inc.

2024-Q2 EPS reported -$0.02 revenue$150,418,000

Revenue $72.6M, down 6.7% YoY from $77.8M; net loss $2.6M vs $0.8M loss in Q2 2023.
Consolidated AEBITDA $14.1M, down 13.5% YoY from $16.3M; margin declined due to lower social casino revenues.
FY2024 revenue guidance cut to $285-295M from $315-325M; AEBITDA guidance to $55-60M from $65-70M.
Repurchased 11.7M shares (~9% of Class A) from Microsoft at discount, funded with available cash.
Acquired Pixode Games; cash & equivalents over $105M, no borrowings.

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