Playstudios reports Q4 EPS (2c), consensus (3c)

Reports Q4 revenue $79.4M, consensus $70.1M. Andrew Pascal, CEO, commented, "We finished the year with solid momentum, with fourth quarter results ahead of our guidance and consensus expectations. Revenue and AEBITDA exceeded year ago and third quarter results despite an economic and industry backdrop that continues to be challenging. AEBITDA margins were 170bps ahead of third quarter results showing that we are not only growing, we’re growing at a more profitable rate. DAU and MAU for the fourth quarter of 2022 were up substantially over the fourth quarter of 2021 aided by the inclusion of Brainium, which we acquired last October. Adjusted for Brainium, both metrics were largely flat with year ago and third quarter 2022 results. ARPDAU continued to show improvements versus last quarter, with notable gains in Tetris and myVEGAS Bingo." Pascal further noted, "playAWARDS grew meaningfully in 2022 with partners, available rewards, and player purchases all increasing by double digit percentages vs. year ago levels. 2023 will be a significant year for the platform as we incorporate our playAWARDS loyalty program into our collection of casual games. Integrating our loyalty model into Tetris and the Brainium portfolio will nearly triple its DAU reach and, we believe, demonstrate the ‘loyalty lift’ that can be achieved in any category of gaming."