Playstudios reports $79.4m in Q4 2022 revenue
Both its quarterly revenue and adjusted EBITDA exceeded company expectations.
Playstudios has published its fourth quarter and full-year 2022 financial report. Revenue for both the fourth quarter and for the year exceeded results from the previous periods.
During the fourth quarter, the company raked in $79.4m in revenue, exceeded the previous year’s corresponding quarter by nearly $8m. Adjusted EBITDA results in Q4 remained steady when compared to Q4 2021 and reached $12.1m.
The company posted a net loss during the fourth quarter of $1.7m.
Playstudios reported similar results for 2022. During the year, the company generated $290.3m in revenue, up nearly $3m year-over-year. The company experience a decline in income and posted a net loss of $17.8m during 2022. Last year, Playstudios reported a total net income of $10.7m.
During 2022, adjusted EBITDA reached $38.3m.
Playstudios CEO Andrew Pascal described this year’s results as “solid” and noted that figures for the fourth quarter exceeded the company’s goals.
He 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.”
Pascal went on the comment on the company’s outlook for this year by saying: “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.”
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