Playtika Holding Corp. Q4 and 2022 Financial Results

Playtika Holding Corp. reported its financial results for the fourth quarter and full fiscal year ending December 31, 2022, highlighting a period of strategic adjustment within the mobile gaming industry. For the full year, the company achieved $2.616 billion in revenue, representing a 1.3% increase over 2021. However, fourth-quarter revenue saw a slight decline of 2.7% year-over-year, totaling $631.2 million. Net income for the year reached $275.3 million, down from $308.5 million in the prior year, while Credit Adjusted EBITDA for 2022 was $805.1 million.

The company’s performance was bolstered by its Direct-to-Consumer (DTC) platforms, which experienced significant growth, with revenue increasing 14.7% annually and 6.6% in the fourth quarter. Operational metrics showed a shift in user engagement; while the average daily active users declined to 8.8 million in the fourth quarter from 10.3 million in the same period of 2021, the average daily payer conversion rate improved to 3.5%. Revenue performance varied by segment, as casual-themed games grew by 2.7%, whereas social casino-themed games declined by 8.6%. Among top titles, Bingo Blitz and Solitaire Grand Harvest recorded double-digit year-over-year revenue growth, offsetting a 9.0% decline in Slotomania.

Looking ahead to fiscal year 2023, the company projects revenue between $2.570 billion and $2.620 billion, with Credit Adjusted EBITDA expected to range from $805 million to $830 million. These results reflect the company’s ongoing efforts to navigate a competitive mobile gaming landscape through efficiency measures and a focus on high-performing game titles. Moving forward, the company intends to standardize its financial reporting by focusing exclusively on Credit Adjusted EBITDA as its primary non-GAAP performance metric.