PlaySide Studios Reports Record Half Year Results and Major Projects Underway

PlaySide Studios reported a record revenue of $36.2 million, marking a 119% increase from the previous year.

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PlaySide Studios Reports Record Half Year Results and Major Projects Underway

  1. PlaySide Studios reported a record revenue of $36.2 million, marking a 119% increase from the previous year.


  2. Original IP revenue reached a record $17.7 million, showing a 218% increase.

  3. Work for Hire revenue also hit a record at $18.5 million, up 69% from the previous year.

  4. EBITDA for the period was a record $12.2 million.

  5. The company achieved a net operating cash flow of $12.8 million and a net cash balance of $38.3 million.

  6. PlaySide Studios signed a multi-game license deal with Warner Bros.
    Interactive and extended Work for Hire agreements with 2K and Meta Platforms, Inc.

  7. The company's publishing arm, PlaySide Publishing, secured deals to publish "Thrive: Heavy Lies the Crown" and the viral sensation "MOUSE."

  8. FY24 revenue is projected to be in the range of $60-65 million, with EBITDA expected to be between $11-13 million.

  9. A Warner Bros. IP and the first game title are set to be announced in the first half of the year.

  10. PlaySide Studios is Australia's largest video game developer and publishing studio, with a portfolio of approximately 60 titles.

  11. The company was incorporated in 2011 and is headquartered in Port Melbourne, Australia, with its shares traded on the Australian Securities Exchange under the code PLY.

This announcement is a summary of the company approved ASX announcement on 22/2/2024.