Playtika reported Q1 2023 revenue of $656.2 million, representing a 3.1% decline year-over-year despite a 4.0% sequential increase.
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Credit Adjusted EBITDA grew 12.8% year-over-year to $222.7 million, achieving a margin of 33.9%.
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Revenue performance was mixed across titles: Bingo Blitz grew 13.0% and Solitaire Grand Harvest grew 29.0% year-over-year, while Slotomania revenue declined 12.1%.
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The company maintains a strong financial position with $767.2 million in cash and cash equivalents and a net leverage ratio of approximately 2.0x.
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Average Daily Paying Users reached 326,000, reflecting a 0.9% year-over-year increase, with average payer conversion rising to 3.6%.
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Playtika projects full-year 2023 revenue between $2,570 million and $2,620 million, with planned capital expenditures of $115–$120 million.
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Revenue distribution remains evenly split, with direct-to-consumer and third-party platforms each contributing approximately 50% of total revenue.
Insights
01
Playtika reported Q1 2023 revenue of $656.2 million, representing a 3.1% decline year-over-year despite a 4.0% sequential increase.
02
Credit Adjusted EBITDA grew 12.8% year-over-year to $222.7 million, achieving a margin of 33.9%.
03
Revenue performance was mixed across titles: Bingo Blitz grew 13.0% and Solitaire Grand Harvest grew 29.0% year-over-year, while Slotomania revenue declined 12.1%.
04
The company maintains a strong financial position with $767.2 million in cash and cash equivalents and a net leverage ratio of approximately 2.0x.
05
Average Daily Paying Users reached 326,000, reflecting a 0.9% year-over-year increase, with average payer conversion rising to 3.6%.
06
Playtika projects full-year 2023 revenue between $2,570 million and $2,620 million, with planned capital expenditures of $115–$120 million.
07
Revenue distribution remains evenly split, with direct-to-consumer and third-party platforms each contributing approximately 50% of total revenue.