Playstudios Q3 revenue falls 15% on market headwinds
MYPS•Playstudios reported Q3 revenue of $48.92 million, down 15% year over year, and a net loss of $11.04 million. Its adjusted EBITDA margin rose to 20.4% from 12.6%.
1. Quarterly results
Playstudios said Q3 revenue fell 15% year over year to $48.92 million as its legacy social casino portfolio faced ongoing market headwinds. Its net loss widened to $11.04 million from a year earlier.
2. Cost cuts and outlook
Adjusted EBITDA margin improved to 20.4% from 12.6%, which the company attributed to cost cuts and operational streamlining. Direct-to-consumer revenue more than doubled. Playstudios is not providing formal financial guidance and said it is prioritizing its existing portfolio while applying stricter criteria to future investments.
