Mobile gaming developer Playtika Holding Corp. on Friday released its financial results for the fourth quarter and full year ending December 31, 2021.
The Israel-based company said its fourth quarter revenue grew to $649m from $573.5m in the prior year period.
Q4 2021 net income was $102.3m, up from $76m in the same quarter one year earlier.
Adjusted EBITDA was $212.5m for Q4 2021, compared to $210.4m in Q4 2020.
The company reported cash and cash equivalents and short-term bank deposits totaled $1,117.1m as of December 31, with $600m in additional borrowing capacity pursuant to its revolving credit facility, resulting in more than $1.7bn of available liquidity.
Playtika said its World Series of Poker play-for-fun game experienced success in the fourth quarter, growing 7.7% year-over-year, and 7.3% quarter-over-quarter.
Core franchise game Bingo Blitz grew 17.7% year-over-year, while Caesars Casino celebrated 10-years since release with 7.1% year-over-year growth.
For full year 2021, revenue grew to $2.5bn from $2.3bn million in the prior year.
Similarly, 2021 net income was $308.5m, up from $92.1m in 2020, while Adjusted EBITDA hit $982.7m, an increase from $941.6m one year earlier.
“Our fourth quarter results demonstrate the ongoing strength of Playtika and the growth potential of the business,” Robert Antokol, Playtika CEO, said in a statement. “In 2021, we extended our leadership in mobile gaming and expanded our vision to reach beyond games into gamifiable apps with the acquisition of Redecor as the world of games, lifestyle and entertainment converge. In addition, we significantly enhanced our proprietary technological edge including our Boost platform, which continues to be a differentiator for the company. We are excited by the opportunities that Playtika can achieve, and I want to thank our employees for their tireless work and dedication in making this possible.”
Craig Abrahams, President and Chief Financial Officer, added: “Our results exceeded our latest guidance for both revenue and Adjusted EBITDA for the year and January started the year strong. Fourth quarter revenue growth accelerated to 13% year-over-year, driven by sustained execution across our portfolio with our casual games now comprising over 50% of revenue. This was achieved with year-over-year eCPI growth of only 5.8% which demonstrates the strength of our proprietary user acquisition technology helping to continue to support strong margins.”
