PLAYSTUDIOS, Inc. (MYPS): restructuring charge — PLAYSTUDIOS Q3 revenue $71.2M, net loss $3.1M; workforce reduction ~30%

PLAYSTUDIOS, Inc.

2024-Q3 EPS reported -$0.05 revenue$221,647,000

Revenue $71.2M vs $75.9M YoY; net loss $3.1M vs $3.8M YoY; AEBITDA $14.6M, margin 20.5%.
Reaffirmed FY2024 guidance: revenue $285-295M, AEBITDA $55-60M.
Reinvention program: ~30% workforce reduction; expects $14-16M Q4 charges; annual savings $25-30M.
Year to date repurchased 13.6M shares at avg $2.15; $45.5M remaining under $50M buyback.

item 2.02 item 2.05 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

PLAYSTUDIOS, Inc. announced a restructuring with charges of approximately $14 million to $16 million affecting global workforce (approximately 30 percent).

Type: restructuring
Charge: approximately $14 million to $16 million
Affected area: global workforce
Headcount: approximately 30 percent

Exact text from the filing

On October 29, 2024, the Company initiated an internal reorganization plan (the “Plan”) which is intended to enhance efficiency and reduce operating expenses. The Plan includes a reduction of the Company’s current total global workforce by approximately 30 percent. The Company expects to substantially complete the personnel reduction by the end of the fourth quarter of fiscal year 2024, but the timing of certain reductions will vary based on job function and location, including local legal requirements. The Company estimates that it will incur approximately $14 million to $16 million in charges in connection with the Plan, which will be substantially incurred in the fourth quarter of fiscal year 2024.

View on SEC.gov

Browse all restructurings & charges →

PLAYSTUDIOS, Inc. filing history →

Source: SEC EDGAR

accession 0001823878-24-000044

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.