PlaySide Studios (ASX:PLY) Announces Half-Year Financial Results
Financial Performance
PlaySide Studios reported an operating revenue of $28.5 million, a 21% decrease compared to the previous corresponding period. The company experienced an EBITDA loss of $3.0 million and a NPAT loss of $5.3 million. Net operating cash flow stood at $1.1 million, with a net cash balance of $28.5 million as of 30 June 2024.
Operational Highlights
The company launched “Kill Knight” on PC/Console in October 2024, “Dumb Ways: Free for All” on Meta Quest in November 2024, “Thrive: Heavy Lies the Crown” in Early Access on Steam in November 2024, and “Shattered” on Meta Quest in December 2024. PlaySide invested approximately $13 million in growth during the first half, focusing on developing Original IP titles like “MOUSE” and a Game of Thrones real-time strategy title.
Future Outlook
In FY25, PlaySide projects revenue between $50-54 million, with a continued EBITDA loss of $6-10 million and a cash balance of $10-15 million by 30 June 2025.
Executive Comments
Gerry Sakkas, Managing Director & CEO, stated, “The successful execution of our major projects represents an unprecedented opportunity for PlaySide to establish itself in the PC/Console and Publishing space, and we are making the necessary steps to ensure we can continue to focus intently on that.”
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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