Playtika Holding Corp. Q4 2025 Prepared Remarks

Playtika Holding Corp.’s fourth-quarter 2025 earnings results demonstrate a strategic pivot toward a diversified, casual-game-focused portfolio and the expansion of its Direct-to-Consumer (DTC) channels. The company reported quarterly revenue of $678.8 million and Adjusted EBITDA of $201.4 million. For the full fiscal year 2025, revenue reached $2.755 billion, representing an 8.1% year-over-year increase, while free cash flow hit a record $481.6 million.

The company’s growth is increasingly driven by its casual gaming segment, which accounted for approximately 74% of total revenue in the fourth quarter. A significant contributor to this performance was the SuperPlay acquisition, which generated $573 million in revenue for the year, marking a 67.5% increase over its earn-out baseline. Disney Solitaire, a key SuperPlay title, reached an annualized revenue run-rate of nearly $300 million. Simultaneously, the company is managing its legacy social casino-themed titles with a focus on stabilizing performance and maximizing cash flow, while utilizing DTC platforms to improve unit economics across its entire portfolio. DTC revenue reached $250.1 million in the fourth quarter, accounting for 36.8% of total revenue.

To maintain financial flexibility and prioritize high-return growth opportunities, the company announced the suspension of its quarterly dividend. Future capital allocation will focus on funding the SuperPlay earn-out, reducing debt, and maintaining balance sheet capacity for potential investments. Looking ahead to 2026, the company projects full-year revenue between $2.7 billion and $2.8 billion, with Adjusted EBITDA guidance set at $730 million to $770 million. The company remains committed to a disciplined operating model that balances the scaling of new growth engines with the efficient management of mature assets.