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MYPS

PLAYSTUDIOS, Inc.

MYPS

PLAYSTUDIOS, Inc. • NASDAQ
$0.64 ▼ -1.49% (-0.01)
Market Cap $80.45 M
52w High $2.29
52w Low $0.57
Dividend Yield 0%
P/E -2.21
Volume 212.08K
Outstanding Shares 125.30M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $57.648M ▼ $51.885M ▲ $-9.118M ▼ -15.817% ▼ $-0.072 ▼ $752K ▼
Q2-2025 $59.338M ▼ $48.262M ▼ $-2.948M ▼ -4.968% ▼ $-0.02 ▲ $6.108M ▼
Q1-2025 $62.709M ▼ $49.671M ▼ $-2.88M ▲ -4.593% ▲ $-0.023 ▲ $8.226M ▼
Q4-2024 $67.782M ▼ $72.337M ▲ $-22.412M ▼ -33.065% ▼ $-0.18 ▼ $8.669M ▼
Q3-2024 $71.229M $58.175M $-3.097M -4.348% $-0.025 $10.046M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $106.32M ▼ $299.153M ▼ $60.228M ▼ $238.925M ▼
Q2-2025 $112.86M ▲ $316.233M ▲ $70.942M ▲ $245.291M ▲
Q1-2025 $107.097M ▼ $313.775M ▼ $69.693M ▼ $244.082M ▼
Q4-2024 $109.179M ▲ $322.955M ▼ $78.24M ▲ $244.715M ▼
Q3-2024 $105.17M $330.55M $65.369M $265.181M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $5.828M ▲ $5.659M ▼ $-4.646M ▼ $-7.554M ▼ $-6.536M ▼ $12.811M ▲
Q2-2025 $-2.948M ▼ $13.642M ▲ $-4.421M ▼ $-4.505M ▼ $5.768M ▲ $9.232M ▲
Q1-2025 $-2.88M ▲ $3.3M ▼ $-3.609M ▲ $-2.456M ▲ $-2.681M ▼ $-279K ▼
Q4-2024 $-22.412M ▼ $11.616M ▼ $-4.192M ▲ $-3.29M ▲ $4.014M ▲ $7.424M ▼
Q3-2024 $-3.097M $14.593M $-9.042M $-6.179M $-534K $9.237M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Advertising
Advertising
 $0 ▲$10.00M ▲$10.00M ▲$10.00M ▲
Product and Service Other
Product and Service Other
 $0 ▲$0 ▲$0 ▲$0 ▲
Virtual Currency
Virtual Currency
 $0 ▲$50.00M ▲$50.00M ▲$50.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has been steady over the past several years rather than fast‑growing, which suggests a relatively mature business profile for a young public company. Profitability has been borderline: the core business generates enough gross profit to cover most costs, but operating income and net income have slipped into small losses recently after being near break‑even or slightly positive earlier. EBITDA has remained consistently positive, which implies the underlying games and loyalty platform do produce economic value, but overhead, marketing, and development spending are keeping accounting profits in the red. Overall, the income statement points to a stable but not yet scaling growth story, with a key question around whether management can convert this stable revenue base into more consistent bottom‑line profits.

Balance Sheet

Balance Sheet The balance sheet is a relative strength. The company holds a solid cash position and keeps debt very low, which gives it financial flexibility and reduces refinancing risk. Equity makes up the bulk of the capital structure, signaling a conservative approach to leverage. Assets have grown meaningfully since before the SPAC listing and have stayed fairly stable in recent years, reflecting prior investment in the platform, acquisitions, and game portfolio. The main watchpoint is that equity is slowly drifting lower as losses accumulate, so while the balance sheet is currently robust, persistent unprofitability over many years could gradually weaken this cushion.

Cash Flow

Cash Flow Cash generation is healthier than the headline earnings might suggest. Operating cash flow has been consistently positive, showing that the games and loyalty ecosystem bring in more cash than they consume in day‑to‑day operations. Free cash flow has hovered around breakeven to modestly positive, improving recently as capital spending has pulled back. Lower investment outlays help near‑term cash, but they also raise the question of whether the company is under‑investing in future growth. Overall, the cash flow profile looks disciplined and sustainable in the short term, but long‑term value creation still hinges on reigniting growth or lifting margins.

Competitive Edge

Competitive Edge PLAYSTUDIOS competes in a crowded mobile gaming field but differentiates itself through its “rewarded play” model and the proprietary playAWARDS loyalty platform. This combination of gaming with real‑world rewards creates a stickier user experience and a switching cost that is harder for standard social casino or casual games to match. Strategic partnerships with large hospitality and entertainment brands deepen this moat by offering appealing, tangible rewards. The acquisition of Brainium and the use of well‑known brands like Tetris broaden the audience beyond social casino into mainstream casual gaming and advertising‑driven models. On the risk side, the company still faces intense competition for user attention, platform rules set by app stores, dependence on partner relationships, and the cyclical nature of social casino demand. Its edge is meaningful but not unassailable, and continued innovation and marketing discipline are required to maintain it.

Innovation and R&D

Innovation and R&D Innovation is a central part of the story. The playAWARDS platform is a real differentiator, effectively blending loyalty technology with game design. Management is also leaning into AI to speed up creative development, content generation, and user acquisition campaigns, which could improve both quality and efficiency if executed well. The push into Web3 via playBLOCKS and the expansion of sweepstakes offerings show a willingness to experiment with new models, though both areas carry regulatory, adoption, and execution risk. Opening the loyalty platform to third‑party developers, growing direct‑to‑consumer channels, and building out the Tetris franchise all point to a strategy of turning internal tools and IP partnerships into broader ecosystems. The key question is not whether the company is innovative, but whether these initiatives can scale fast enough and profitably enough to change the overall financial trajectory.

Summary

PLAYSTUDIOS combines a distinctive business model with a cautious financial posture. The revenue base is steady but not fast‑growing, and profitability remains marginal, with small net losses despite solid gross margins and positive EBITDA. The balance sheet and cash flows are relatively strong for a company at this stage: low debt, meaningful cash reserves, and consistently positive operating cash flow provide room to invest and absorb setbacks. Competitively, the rewarded‑play concept, loyalty platform, and brand and partner relationships give the company a clear identity in mobile gaming, while acquisitions and new IP move it beyond its original social casino niche. At the same time, the company must contend with a highly competitive market, shifting user tastes, and the challenge of turning innovation in AI, Web3, and sweepstakes into durable, profitable scale. Overall, MYPS looks like a financially cautious, innovation‑driven gaming platform that has yet to fully translate its strategic advantages into sustained growth and earnings, making execution over the next few years especially important.

NEWS

November 3, 2025 · 4:05 PM UTC

PLAYSTUDIOS, Inc. Announces Third Quarter Results

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October 24, 2025 · 4:30 PM UTC

PLAYSTUDIOS to Release Third Quarter 2025 Results on November 3rd

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