Playstudios reports net revenue of $287.4m for 2021

By Gambling Insider

Playstudios has published its Q4 and full-year results for 2021, indicating a 12% year-on-year net revenue increase to $71.9m for Q4 and a full-year revenue of $287.4m.

Q4 also showed an increase of purchase activity by 79%, with the retail dollar value of purchases up 137%.

Net income for Q4 2021 was $0.6m in comparison to the net loss of $10.8m made during Q4 for 2020. In addition, adjusted EBITDA stood at $12m, an increase from the previous total of $8.8m during Q4 for 2020. 

As well as a full-year net revenue of $287.4m, an increase of 7% from 2020, net income fell from 2020, totalling $10.7m against 2020's $12.8m.

Full-year adjusted EBITDA was $39.5m, a drop from $58m the previous year. This decrease is believed to reflect the costs associated with ongoing investments and other expenses related to the launch of new games in early 2021. 

Andrew Pascal, Playstudio CEO, commented: “This past year was transformational for our business. We went public, introduced three new games and expanded our family of myVIP rewards partners. In doing so, we strengthened our standing as the leaders in rewarded play and positioned the company for future growth.

"Everyone is contending with the increasing complexity and costs of acquiring consumers. This brings into focus the importance of holding on to your existing audience which plays to our strengths. The unique challenges of today’s market are intensifying the problem that our loyalty platform model solves. And it’s for this reason that we remain so optimistic about our opportunity, and so committed to our strategy.”

Recent business highlights have included the secured global exclusive rights (excluding China) to the Tetris franchise for mobile devices, following which the company added the Tetris free-to-play mobile game and the Tetris Beat Apple Arcade experience to its portfolio.

In addition to this, Playstudios saw much expansion in 2021. Geographically, through its new operations into Hanoi, Vietnam, Belgrade and Serbia; as well as digitally with the newly launched social casino app, MGM Slots Live.

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