$MYPS reports exceeds guidance and consensus with $287M FY22 revenues and promising plans for 2023
Mar 9th 2023, 9:17 pm
Analyst Summary: PLAYSTUDIOS, Inc. has announced its Q4 and FY 2022 financial results, reporting revenues of $79.7 million and $287.4 million, respectively, and AEBITDA of $12.0 million and $39.5 million, respectively. The company exceeded its guidance and consensus expectations, with revenue and AEBITDA exceeding the year-ago and Q3 2022 results. DAU and MAU for the Q4 2022 were up, while ARPDAU showed improvements. Furthermore, the playAWARDS loyalty program recorded double-digit increases in available rewards, purchases, and retail value versus year-ago levels. The company has exciting plans for 2023, including diversifying its collection of games and expanding its player network. Although cautious due to the continuing challenges in the marketplace and economy overall, PLAYSTUDIOS, Inc. anticipates revenue and AEBITDA growth from 2022 levels and a marked increase in overall profitability in 2023. The company has a balanced portfolio of new, early-stage, and evergreen initiatives, including the integration of the playAWARDS loyalty program into casual games. Meanwhile, Brainium's integration into PLAYSTUDIOS is proceeding smoothly and as planned, and while no explicit synergies are currently forecasted, there are many opportunities for the combined company.