Playtika reports Q3 revenue of $620 million as DTC platforms drive 8.3% growth

Playtika‘s revenue for Q3 2024 stood at $620.8 million, a slight decline of 1.0% sequentially and 1.5% year-over-year. 

This comes from the company’s latest financials, which show that revenue from direct-to-consumer (DTC) platforms increased 0.4% sequentially and 8.3% year-over-year, reaching $174.4 million. 

The company’s net income dropped 54.6%  to $39.3 million but grew 3.7% compared to the same period last year. 

As of September 30, 2024, cash, cash equivalents, and short-term investments totalled $1.2 billion. 

Game performances 

Revenue from the top three games grew 1.1% but decreased 0.8% year-over-year. Bingo Blitz saw a 2.7% sequential revenue increase and a 6.8% year-over-year growth, reaching $159.9 million. 

Solitaire Grand Harvest’s revenue grew 6.5% sequentially but slightly declined by 0.2% year-over-year, totaling $79.0 million. Slotomania experienced a revenue decline, falling 3.8% sequentially and 9.3% year-over-year, totaling $128.7 million.

Meanwhile average daily paying users (ADPUs) rose by 1.0% and 0.7% year-over-year, reaching 301K. The average payer conversion also increased to 4.0%, up from 3.7% in Q2 and 3.6% in Q3 2023. 

Financial outlook

For the full year 2024, Playtika revised its revenue outlook to a range of $2.505 – $2.520 billion. The company also raised its Credit Adjusted EBITDA guidance to a range of $755 – $765 million while lowering its capital expenditure guidance to $90 million.

“This quarter marked a pivotal moment for Playtika as we entered into an agreement to acquire SuperPlay, a move that aligns perfectly with our growth strategy,” said CEO Robert Antokol. 

“We believe this acquisition will strengthen our portfolio with SuperPlay’s successful titles and underscore our commitment to delivering exceptional gaming experiences to our players and value to our shareholders.”