0001828016FALSE00018280162025-02-272025-02-27

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 27, 2025

Commission File Number: 001-39896


PLAYTIKA HOLDING CORP.
(Exact Name of Registrant as Specified in its Charter)

Delaware81-3634591
(State of other jurisdiction(I.R.S. Employer
of incorporation or organization)Identification No.)
c/o Playtika Ltd.
HaChoshlim St 8
Herzliya Pituach, Israel
972-73-316-3251
(Address, including zip code, and telephone number, including area code, of registrant’s principal executive offices)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, $0.01 par valuePLTKThe Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b 2 of this chapter).
Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐


Item 2.02.    Results of Operations and Financial Condition.

On February 27, 2025, Playtika Holding Corp. (the “Company”) issued a press release announcing its financial results for the quarter and fiscal year ended December 31, 2024. A copy of the press release is furnished herewith as Exhibit 99.1.

In accordance with General Instruction B.2. of Form 8-K, the information in this Item 2.02, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as expressly set forth by specific reference in such a filing.

Item 9.01.    Financial Statements and Exhibits.

(d)    Exhibits

99.1
99.2
104Cover page interactive data file (embedded within the Inline XBRL document).


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

PLAYTIKA HOLDING CORP.
Registrant
By:/s/ Craig Abrahams
Craig Abrahams
President and Chief Financial Officer
Dated as of February 27, 2025




Exhibit 99.1


Playtika Holding Corp. Reports Q4 and 2024 Financial Results


Revenue of $650.3 million and Direct-to-Consumer (“DTC”) Revenue of $174.6 million
DTC platforms Revenue Increased 0.1% Sequentially and 8.0% Year Over Year
GAAP Net Income of $(16.7) million and Credit Adj. EBITDA of $183.9 million

Herzliya, Israel – February 27, 2025 - Playtika Holding Corp. (NASDAQ: PLTK) today released financial results for its fourth quarter and fiscal year ended December 31, 2024.

Fourth Quarter 2024 Financial Highlights:

•Revenue of $650.3 million increased 4.8% sequentially and 1.9% year over year.
•DTC platforms revenue of $174.6 million increased 0.1% sequentially and 8.0% year over year.
•Net income of $(16.7) million decreased (142.5)% sequentially and (144.8)% year over year.
•Credit Adjusted EBITDA of $183.9 million decreased (6.7)% sequentially and (2.6)% year over year.
•Cash and cash equivalents totaled $565.8 million as of December 31, 2024.

FY2024 Financial Highlights:

•FY2024 revenue of $2,549.3 million compared to $2,567.0 million in the prior year.
•DTC platforms revenue of $694.2 million compared to $639.4 million in the prior year.
•Net income of $162.2 million compared to $235.0 million in the prior year.
•Credit Adjusted EBITDA of $757.7 million compared to $832.2 million in the prior year.
•Free Cash Flow of $396.8 million compared to $436.4 million in the prior year1.

“We are thrilled with the progress we have made in executing our return to growth strategy, highlighted by our successful acquisition of SuperPlay,” said Robert Antokol, Chief Executive Officer. “Looking ahead, we are excited by our pipeline of new games and continued M&A opportunities, which we believe will drive consistent topline growth and create value for our shareholders.”

“Our disciplined approach to capital allocation and portfolio management is reflected in our strong EBITDA results, demonstrating our commitment to maximizing returns” said Craig Abrahams, President and Chief Financial Officer. “As we continue to evolve our portfolio mix, we anticipate this year to be transitional as we invest in newly acquired studios in their early stages. We believe these investments will position us for renewed EBITDA growth starting in 2026 and beyond.”

Selected Q4 Operational Metrics and Business Highlights

•Average Daily Paying Users of 339K increased 12.6% sequentially and increased 10.8% year over year.
•Average Payer Conversion of 4.2%, up from 4.0% in Q3 2024 and 3.5% in Q4 2023.
•Casual games revenue increased 11.6% sequentially and 11.3% year over year.
•Social casino-themed games revenue decreased (4.9)% sequentially and (10.0%) year over year.
•Bingo Blitz revenue of $159.1 million decreased (0.5)% sequentially and increased 5.8% year over year.
•Slotomania revenue of $118.4 million decreased (7.9)% sequentially and (13.5)% year over year.
•Solitaire Grand Harvest revenue of $72.5 million decreased (8.1)% sequentially and (4.3)% year over year.
1 We define Free Cash Flow as net cash provided by operating activities minus capital expenditures.





Playtika Announces Quarterly Dividend

Playtika’s Board of Directors declared a cash dividend of $0.10 per share of our outstanding common stock, payable on April 4, 2025 to stockholders of record as of the close of business on March 21, 2025. Future dividends are subject to market conditions and approval by our Board of Directors.

Financial Outlook

For FY2025, revenue expected to be between $2.80 - $2.85 billion and Credit Adjusted EBITDA between $715 - $740 million. Capital expenditures are expected to be $95 million. We expect our effective tax rate to be 35%.

Conference Call

Playtika management will host a conference call at 5:30 a.m. Pacific Time (8:30 a.m. Eastern Time) today to discuss the company’s results. The conference call can be accessed via a webcast accessible at investors.playtika.com. A replay of the call will be available through the website one hour following the call and will be archived for one year.


Summary Operating Results of Playtika Holding Corp.

Three months ended December 31,
Year ended December 31,
(in millions of dollars, except percentages, Average DPUs, and ARPDAU)2024202320242023
Revenues$650.3 $637.9 $2,549.3 $2,567.0 
Total cost and expenses$595.0 $517.9 $2,157.7 $2,065.4 
Operating income$55.3 $120.0 $391.6 $501.6 
Net income$(16.7)$37.3 $162.2 $235.0 
Credit Adjusted EBITDA$183.9 $188.9 $757.7 $832.2 
Net income margin(2.6)%5.8 %6.4 %9.2 %
Credit Adjusted EBITDA margin28.3 %29.6 %29.7 %32.4 %
Non-financial performance metrics
Average DAUs8.0 8.6 8.1 8.7 
Average DPUs (in thousands)339 306 312 310 
Average Daily Payer Conversion4.2 %3.5 %3.8 %3.6 %
ARPDAU$0.89 $0.80 $0.86 $0.81 
Average MAUs29.1 30.9 29.0 29.4 





About Playtika Holding Corp.

Playtika (NASDAQ: PLTK) is a mobile gaming entertainment and technology market leader with a portfolio of multiple game titles. Founded in 2010, Playtika was among the first to offer free-to-play social games on social networks and, shortly after, on mobile platforms. Headquartered in Herzliya, Israel, and guided by a mission to entertain the world through infinite ways to play, Playtika has employees across offices worldwide.

Forward Looking Information

This press release contains “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Section 21E of the Exchange Act. All statements other than statements of historical facts contained in this press release, including statements regarding our business strategy, plans and our objectives for future operations, are forward-looking statements. Further, statements that include words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “future,” “intend,” “intent,” “may,” “might,” “potential,” “present,” “preserve,” “project,” “pursue,” “should,” “will,” or “would,” or the negative of these words or other words or expressions of similar meaning may identify forward-looking statements.

We have based these forward-looking statements largely on our current expectations and projections about future events and trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives, and financial needs. The achievement or success of the matters covered by such forward-looking statements involves significant risks, uncertainties and assumptions, including, but not limited to, the risks and uncertainties discussed in our filings with the Securities and Exchange Commission. Moreover, we operate in a very competitive and rapidly changing environment and industry. As a result, it is not possible for our management to assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, the forward-looking statements discussed in this press release may not occur and actual results could differ materially and adversely from those anticipated, predicted or implied in the forward-looking statements.

Important factors that could cause actual results to differ materially from estimates or projections contained in the forward-looking statements include without limitation:

•actions of our majority shareholder or other third parties that influence us;
•our reliance on third-party platforms, such as the iOS App Store, Facebook, and Google Play Store, to distribute our games and collect revenues, and the risk that such platforms may adversely change their policies;
•our reliance on a limited number of games to generate the majority of our revenue;
•our reliance on a small percentage of total users to generate a majority of our revenue;
•our free-to-play business model, and the value of virtual items sold in our games or in the SuperPlay portfolio, is highly dependent on how we manage the game revenues and pricing models;
•our inability to integrate SuperPlay into our operations successfully or realize the anticipated benefits of this acquisition;
•our inability to refinance our revolving credit facility which is set to expire in March 2026 or otherwise obtain additional financing, in each case, on favorable terms or at all;
•the ability of the SuperPlay portfolio to compete in a highly competitive industry with low barriers to entry;
•our ability to retain existing players, attract new players and increase the monetization of our player base;
•our ability to develop and/or launch new products and content or otherwise execute against our product roadmap strategy;
•we have significant indebtedness and are subject to the obligations and restrictive covenants under our debt instruments;
•our controlled company status;




•legal or regulatory restrictions or proceedings could adversely impact our business, including the SuperPlay portfolio, and limit the growth of our operations;
•risks related to our international operations and ownership, including our significant operations in Israel and Ukraine and the fact that our controlling stockholder is a Chinese-owned company;
•geopolitical events such as the Wars in Israel and Ukraine;
•our reliance on key personnel, including our ability to retain the key personnel of SuperPlay;
•market conditions or other factors affecting the payment of dividends, including the decision whether or not to pay a dividend;
•uncertainties regarding the amount and timing of repurchases under our stock repurchase program;
•security breaches or other disruptions could compromise our information or our players’ information and expose us to liability; and
•our inability to protect our intellectual property and proprietary information could adversely impact our business.




PLAYTIKA HOLDING CORP.
CONSOLIDATED BALANCE SHEETS
(In millions, except for per share data)

December 31,
20242023
ASSETS
Current assets
Cash and cash equivalents$565.8 $1,029.7 
Restricted cash1.9 2.0 
Accounts receivable187.6 171.5 
Prepaid expenses and other current assets117.5 147.9 
Total current assets872.8 1,351.1 
Property and equipment, net115.4 119.9 
Operating lease right-of-use assets89.9 100.3 
Intangible assets other than goodwill, net562.2 311.2 
Goodwill1,692.3 987.2 
Deferred tax assets, net119.0 99.3 
Investment in unconsolidated entities20.6 54.4 
Other non-current assets167.0 151.6 
Total assets$3,639.2 $3,175.0 
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Current liabilities
Current maturities of long-term debt$11.6 $16.8 
Accounts payable58.6 65.0 
Operating lease liabilities, current25.7 19.5 
Accrued expenses and other current liabilities463.0 438.3 
Total current liabilities558.9 539.6 
Long-term debt2,388.5 2,399.6 
Contingent consideration354.6 20.8 
Other long-term liabilities372.2 318.7 
Operating lease liabilities, long-term71.4 88.2 
Deferred tax liabilities24.7 29.6 
Total liabilities3,770.3 3,396.5 
Commitments and contingencies
Stockholders' equity (deficit)
Common stock of US $0.01 par value: 1,600.0 shares authorized; 375.3 and 370.0 shares issued and outstanding at December 31, 2024 and 2023, respectively4.1 4.1 
Treasury stock at cost (51.8 shares at December 31, 2024 and 2023)(603.5)(603.5)
Additional paid-in capital1,362.7 1,264.9 
Accumulated other comprehensive income (loss)(0.2)20.6 
Accumulated deficit(894.2)(907.6)
Total stockholders' deficit(131.1)(221.5)
Total liabilities and stockholders’ deficit$3,639.2 $3,175.0 




PLAYTIKA HOLDING CORP.
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(In millions, except for per share data)

Three months ended December 31,Year ended
December 31,
2024202320242023
Revenues$650.3 $637.9 $2,549.3 $2,567.0 
Costs and expenses
Cost of revenue178.8 180.6 692.1 718.5 
Research and development96.3 101.5 403.0 406.4 
Sales and marketing195.3 158.0 705.0 585.7 
General and administrative92.0 77.8 288.7 303.5 
Impairment charges32.6 — 68.9 51.3 
Total costs and expenses595.0 517.9 2,157.7 2,065.4 
Income from operations55.3 120.0 391.6 501.6 
Interest and other, net33.7 32.6 111.1 109.5 
Income before income taxes21.6 87.4 280.5 392.1 
Provision for income taxes38.3 50.1 118.3 157.1 
Net income (loss)(16.7)37.3 162.2 235.0 
Other comprehensive income (loss)
Foreign currency translation(12.8)6.8 (10.9)5.6 
Change in fair value of derivatives5.6 (10.7)(9.9)(2.6)
Total other comprehensive income (loss)(7.2)(3.9)(20.8)3.0 
Comprehensive income (loss)$(23.9)$33.4 $141.4 $238.0 
Net income (loss) per share attributable to common stockholders, basic $(0.04)$0.10 $0.44 $0.64 
Net income (loss) per share attributable to common stockholders, diluted$(0.04)$0.10 $0.44 $0.64 
Weighted-average shares used in computing net income per share attributable to common stockholders, basic373.0 367.8 371.8 366.3 
Weighted-average shares used in computing net income per share attributable to common stockholders, diluted374.8 368.3 372.1 366.8 




PLAYTIKA HOLDING CORP.
CONSOLIDATED STATEMENT OF CASH FLOWS
(In millions)

Year ended December 31,
20242023
Cash flows from operating activities$490.1 $515.6 
Cash flows from investing activities
Purchase of property and equipment(40.9)(32.6)
Capitalization of internal use software costs(31.6)(37.4)
Purchase of software for internal use(20.8)(9.2)
Payments for business combination, net of cash acquired(686.9)(159.6)
Proceeds from short-term investments256.5 — 
Purchase of short-term investments(256.5)— 
Investments in unconsolidated entities(2.6)(1.8)
Other investing activities0.7 0.4 
Net cash used in investing activities(782.1)(240.2)
Cash flows from financing activities
Dividends paid(111.5)— 
Repayments on bank borrowings(23.8)(14.3)
Payment of tax withholdings on stock-based payments(2.6)(3.9)
Payment for share buyback(0.8)— 
Net cash out flow for business acquisitions and other(28.4)— 
Net cash used in financing activities(167.1)(18.2)
Effect of exchange rate changes on cash and cash equivalents(4.9)4.1 
Net change in cash, cash equivalents and restricted cash(464.0)261.3 
Cash, cash equivalents and restricted cash at the beginning of the period1,031.7 770.4 
Cash, cash equivalents and restricted cash at the end of the period$567.7 $1,031.7 




CALCULATION OF FREE CASH FLOW
(In millions)

Year ended
December 31,
20242023
Cash flows from operating activities$490.1 $515.6 
Purchase of property and equipment(40.9)(32.6)
Capitalization of internal use software costs(31.6)(37.4)
Purchase of software for internal use(20.8)(9.2)
Free Cash Flow$396.8 $436.4 






Non-GAAP Financial Measures

Credit Adjusted EBITDA is a non-GAAP financial measure and should not be construed as an alternative to net income as an indicator of operating performance, nor as an alternative to cash flow provided by operating activities as a measure of liquidity, or any other performance measure in each case as determined in accordance with GAAP.

Below is a reconciliation of Credit Adjusted EBITDA to net income, the closest GAAP financial measure. Our Credit Agreement defines Adjusted EBITDA (which we call “Credit Adjusted EBITDA”) as net income before (i) interest expense, (ii) interest income, (iii) provision for income taxes, (iv) depreciation and amortization expense, (v) impairment charges, (vi) stock-based compensation, (vii) contingent consideration, (viii) acquisition and related expenses, and (ix) certain other items. We calculate Credit Adjusted EBITDA Margin as Credit Adjusted EBITDA divided by revenues.

Credit Adjusted EBITDA and Credit Adjusted EBITDA Margin as calculated herein may not be comparable to similarly titled measures reported by other companies within the industry and are not determined in accordance with GAAP. Our presentation of Credit Adjusted EBITDA and Credit Adjusted EBITDA Margin should not be construed as an inference that our future results will be unaffected by unusual or unexpected items.




RECONCILIATION OF NET INCOME TO CREDIT ADJUSTED EBITDA
(In millions)

Three months ended December 31,Year ended
December 31,
2024202320242023
Net income$(16.7)$37.3 $162.2 $235.0 
Provision for income taxes38.3 50.1 118.3 157.1 
Interest and other, net33.7 32.6 111.1 109.5 
Depreciation and amortization48.6 42.0 165.7 158.0 
EBITDA103.9 162.0 557.3 659.6 
Stock-based compensation(1)
29.0 27.5 99.2 110.0 
Impairment charges32.6 — 68.9 51.3 
Changes in estimated value of contingent consideration6.0 1.4 (9.8)1.4 
Acquisition and related expenses(2)
10.0 (2.2)19.7 6.5 
Other items(3)
2.4 0.2 22.4 3.4 
Credit Adjusted EBITDA$183.9 $188.9 $757.7 $832.2 
Net income margin(2.6)%5.8 %6.4 %9.2 %
Credit Adjusted EBITDA margin28.3 %29.6 %29.7 %32.4 %
_________

(1)    Reflects stock-based compensation expense related to the issuance of equity awards to our employees and Directors.
(2)    Includes costs incurred to evaluate and pursue acquisition activities as well as costs incurred by the Company in connection with the evaluation of strategic alternatives.
(3)    The amount for the three months ended December 31, 2024 consists primarily of $1.3 million and $0.7 million incurred by the Company related to severance and restructuring activities, respectively. The amount for the three months ended December 31, 2023 primarily includes $0.3 million incurred by the Company for severance.
The amount for the year ended December 31, 2024 consists primarily of $14.5 million and $6.9 million incurred by the Company related to severance and restructuring activities, respectively. The amount for the year ended December 31, 2023 consists primarily of $1.8 million incurred by the Company for severance and $1.0 million for a tax assessment paid under protest.





Contacts

Investor Relations
Tae Lee
Tael@playtika.com

PLAYTIKA HOLDING CORP. Fourth Quarter 2024 and Full Year 2024 Results February 27, 2025

 
LEGAL DISCLAIMER Forward-Looking Statements This presentation contains “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Section 21E of the Exchange Act. All statements other than statements of historical facts contained in this prese ntation, including statements regarding our business strategy, plans and our objectives for future operations, are forward -looking statements. Further, statements that include words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “fut ure,” “intend,” “intent,” “may,” “might,” “potential,” “present,” “preserve,” “project,” “pursue,” “should,” “will,” or “would,” or the negative of these words or other words or expressions of similar meaning may identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives, and financial needs. The achievement or success of the matters covered by such forward-looking statements involves significant risks, uncertainties and assumptions, including, but not limited to, the risks and uncertainties di scussed in our filings with the Securities and Exchange Commission. Moreover, we operate in a very competitive and rapidly changing e nvironment and industry. As a result, it is not possible for our management to assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, the forward-looking statements discussed in this press release may not occur and actual results could differ materially and adversely from those anticipated , predicted or implied in the forward-looking statements. Important factors that could cause actual results to differ materially from estimates or projections contained in the forward -looking statements include without limitation: • actions of our majority shareholder or other third parties that influence us; • our reliance on third-party platforms, such as the iOS App Store, Facebook, and Google Play Store, to distribute our games and collect revenues, and the risk that such platforms may adversely change their policies; • our reliance on a limited number of games to generate the majority of our revenue; • our reliance on a small percentage of total users to generate a majority of our revenue; • our free-to-play business model, and the value of virtual items sold in our games or in the SuperPlay portfolio, is highly depen dent on how we manage the game revenues and pricing models; • our inability to integrate SuperPlay into our operations successfully or realize the anticipated benefits of this acquisition ; • our inability to refinance our revolving credit facility which is set to expire in March 2026 or otherwise obtain additional financing, in each case, on favorable terms or at all; • the ability of the SuperPlay portfolio to compete in a highly competitive industry with low barriers to entry; • our ability to retain existing players, attract new players and increase the monetization of our player base; • our ability to develop and/or launch new products and content or otherwise execute against our product roadmap strategy; • we have significant indebtedness and are subject to the obligations and restrictive covenants under our debt instruments; • our controlled company status; • legal or regulatory restrictions or proceedings could adversely impact our business, including the SuperPlay portfolio, and l imit the growth of our operations; • risks related to our international operations and ownership, including our significant operations in Israel and Ukraine and t he fact that our controlling stockholder is a Chinese-owned company; • geopolitical events such as the Wars in Israel and Ukraine; • our reliance on key personnel, including our ability to retain the key personnel of SuperPlay; • market conditions or other factors affecting the payment of dividends, including the decision whether or not to pay a dividend; • uncertainties regarding the amount and timing of repurchases under our stock repurchase program; • security breaches or other disruptions could compromise our information or our players’ information and expose us to liabilit y; and • our inability to protect our intellectual property and proprietary information could adversely impact our business. Additional factors that may cause future events and actual results, financial or otherwise, to differ, potentially materially , from those discussed in or implied by the forward-looking statements include the risks and uncertainties discussed in our filings with the Securities and Exchange Commission. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that the future results, levels of activity, performance or events and circumstances reflected in the forward-looking statements will be achieved or occur, and reported results should not be considered as an indication of futu re performance. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward -looking statements. The forward-looking statements speak only as of the date they are made. Except as required by law, we undertake no obligation to update any forward-looking statements for any reason to conform these statements to actual results or to changes in our expectations. Non-GAAP Financial Measures This presentation contains certain non-GAAP financial measures of us, including Credit Adjusted EBITDA. A "non-GAAP financial measure" is defined as a numerical measure of a company's financial performance that excludes or includes amounts so as to be different than the most directly comparable measure calculated and presented in accordance with GAAP in the statements of inc ome, balance sheets or statements of cash flow of the company. You should not consider these non-GAAP financial measures in isolation, or as a substitute for analysis of results as reported under GAAP. For information regarding the non-GAAP financial measures used by us, and for a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP measures, see the Appendix to this presentation. 2

 
FY2024 FINANCIAL RESULTS SUMMARY 3 Initial Guidance Updated Guidance(1) Actual Revenue $2,520 million - $2,620 million $2,505 million - $2,520 million $2,549.3 million Net Income - - $162.2 million Net Income Margin % - - 6.4% Credit Adjusted EBITDA $730 to $770 million $755 to $765 million $757.7 million Credit Adjusted EBITDA Margin % 29.0% to 29.4% 30.1% to 30.4% 29.7% Capital Expenditures $110 million to $115 million $90 million $93.3 million Free Cash Flow $396.8 million Note(1): Updated guidance as of the company’s Q3 earnings announcement on November 7th, 2024. Note: USD in millions. See appendix for definitions of Credit Adjusted EBITDA and Free Cash Flow. Credit Adjusted EBITDA is a non-gaap measure, see reconciliation on slides 15 and 16.

 
FY2024 SELECTED HIGHLIGHTS FY24 Revenue of $2,549.3 million, Net Income of $162.2 million, Credit Adjusted EBITDA of $757.7 million, Free Cash Flow of $396.8 million. Revenue decreased by (0.7)% Y/Y. Net Income decreased by (31.0)% Y/Y. Credit Adjusted EBITDA decreased by (9.0)% Y/Y. Free Cash Flow decreased by (9.1)% Y/Y. Direct-to-Consumer Platform revenue grew 8.6% Y/Y. 7 Games generated over $100 million or more in revenue in FY2024. Casual Themed Games Portfolio represents 58.9% of overall revenue vs. 56.7% in FY2023. 312K Average Daily Paying Users, 0.6% increase Y/Y. Successfully acquired SuperPlay, creator of hit games Dice Dreams and Domino Games. Initiated the company’s first-ever quarterly cash dividend. Authorized and initiated a share repurchase program. 4 Note: USD in millions. See appendix for definitions of Credit Adjusted EBITDA, Average Daily Paying Users, Average Daily Active Users, ARPDAU, and Free Cash Flow. Credit Adjusted EBITDA is a non- gaap measures, see reconciliation on slides 15 and 16.

 
FY2024 FINANCIAL HIGHLIGHTS 5 Revenue Free Cash Flow (0.7)% (9.1)% Note: USD in millions. See appendix for definitions of Credit Adjusted EBITDA and Free Cash Flow. Credit Adjusted EBITDA is a non-gaap measures, see reconciliation on slides 15 and 16. Net Income (31.0)% Credit Adjusted EBITDA (9.0)%

 
Q4 FINANCIAL HIGHLIGHTS Revenue of $650.3 million, Net Income of $(16.7) million, and Credit Adjusted EBITDA of $183.9 million. Revenue increased by 4.8% sequentially and 1.9% year over year. Net Income decreased by (142.5)% sequentially and (144.8)% year over year. Credit Adjusted EBITDA decreased (6.7)% sequentially and (2.6)% year over year. Direct-to-Consumer Platforms revenue increased 0.1% sequentially and 8.0% year over year. Net income margin of (2.6)%, compared to 6.3% in Q3 2024 and 5.8% in Q4 2023. Credit Adjusted EBITDA margin of 28.3%, compared to 31.8% in Q3 2024 and 29.6% in Q4 2023. Cash and cash equivalents totaled $565.8 million as of December 31, 2024. 6 Note: USD in millions. See appendix for definition of Credit Adjusted EBITDA. Credit Adjusted EBITDA is a non-gaap measure, see reconciliation on slides 15 and 16.

 
Q4 BUSINESS HIGHLIGHTS Average Daily Paying Users of 339K increased 12.6% sequentially and increased 10.8% year over year. Average Payer Conversion of 4.2%, up from 4.0% in Q3 2024 and 3.5% in Q4 2023. Bingo Blitz revenue of $159.1 million decreased (0.5)% sequentially and increased 5.8% year over year. Slotomania revenue of $118.4 million decreased (7.9)% sequentially and (13.5)% year over year. Solitaire Grand Harvest revenue of $72.5 million decreased (8.1)% sequentially and (4.3)% year over year. Revenue contribution from our direct-to-consumer platforms decreased to 26.8% in Q4 vs. 28.1% in Q3, primarily due to the acquisition of SuperPlay, which does not generate revenue through direct-to-consumer channels. 7Note: See appendix for definitions of Average Daily Paying Users and Average Payer Conversion.

 
QUARTERLY REVENUE BY PLATFORM 8 Direct-to-Consumer Platforms Revenue Third-Party Platforms RevenueTotal Revenue +1.9% +8.0% (0.1)% Note: USD in millions. See appendix for definitions of Direct-to-Consumer Platforms.

 
SELECTED QUARTERLY FINANCIALS 9 Note: USD in millions. See appendix for definitions of Credit Adjusted EBITDA. Credit Adjusted EBITDA is a non-gaap measure, see reconciliation on slides 15 and 16. Net Income (144.8)% Credit Adjusted EBITDA and Margin (2.6)%

 
QUARTERLY KPI TRENDS 10 Average Daily Paying Users (in millions) Average Daily Active Users (in millions) Average Revenue per Daily Active User Average Payer Conversion +10.8% (7.0)% +70bps Note: See appendix for definitions of Average Daily Paying Users, Average Daily Active Users, Average Revenue per Daily Active User, and Average Payer Conversion. +11.3%

 
REVENUE CONTRIBUTION 11Note: See appendix for definitions of Casual Themed Games, Social Casino Themed Games, and Direct-to-Consumer Platforms. Revenue Mix (Casual and Social Casino) Revenue Mix (DTC and 3rd Party Platforms)

 
CAPITAL STRUCTURE OVERVIEW 12 Available Liquidity (as of 12/31/24) Debt Maturity Profile (as of 12/31/24) Approximately $1.17 billion in available liquidity Liquidity is expected to continue to improve with Free Cash Flow generation No near-term debt maturities Net LTM leverage of approximately 2.5x Capital Structure and Capital Allocation Note: USD in millions.

 
FISCAL YEAR 2025 GUIDANCE 13 FY24 Actual FY25 Guidance Revenue $2,549.3 million $2,800 million to $2,850 million Credit Adjusted EBITDA $757.7 million $715 million to $740 million Credit Adjusted EBITDA Margin 29.7% 25.5% to 26.0% Capital Expenditures $93.3 million $95 million Note: USD in millions. See appendix for definition of Credit Adjusted EBITDA. Credit Adjusted EBITDA is a non-gaap measure, see reconciliation of historical figures on slides 15 and 16.

 
APPENDIX Credit Adjusted EBITDA: Our Credit Agreement defines Adjusted EBITDA (which we call “Credit Adjusted EBITDA”) as net income b efore (i) interest expense, (ii) interest income, (iii) provision for income taxes, (iv) depreciation and amortization expense, (v) impairment of intangible assets, (vi) stock-based compensation, (vii) contingent consideration, (viii) acquisition and related expenses, and (ix) certain other items. We calculate Credit Adjusted EBITDA Margin as Credit Adjusted EBITDA divided by revenues. We supplementally present Credit Adjusted EBITDA because it is a key operating measure used by our management to assess our f inancial performance. Credit Adjusted EBITDA adjusts for items that we believe do not reflect the ongoing operating performance of our business, such as certain noncash i tems, unusual or infrequent items or items that change from period to period without any material relevance to our operating performance. Management believes Credit Adjusted EBITDA is useful to investors and analysts in highlighting trends in our operating performance, while other measures can differ significantly depending on long-term strategic decisions regarding capital structure, the tax jurisdictions in which we operate and capital investments. Management uses Credit Adjusted EBITDA to supplement GAAP measures of performance in the evaluation of the effectiveness of our business strategies, to make budgeting decisions, and to compare our performance against other peer companies using similar m easures. We evaluate Credit Adjusted EBITDA in conjunction with our results according to GAAP because we believe it provides investors and analysts a more complete understa nding of factors and trends affecting our business than GAAP measures alone. Credit Adjusted EBITDA should not be considered as an alternative to net income (loss) as a measure of financial performance, or any other performance measure derived in accordance with GAAP. Non-GAAP Financial Measure 14

 
APPENDIX Reconciliation of GAAP to Non-GAAP Measure 15Note: USD in millions. (1) Reflects stock-based compensation expense related to the issuance of equity awards to our employees and Directors. (2) Includes costs incurred to evaluate and pursue acquisition activities as well as costs incurred by the Company in connection with the evaluation of strategic alternatives. (3) The amount for the three months ended December 31, 2024 consists primarily of $1.3 million and $0.7 million incurred by the Company related to severance and restructuring activities, respectively. The amount for the three months ended December 31, 2023 primarily includes $0.3 million incurred by the Company for severance. Three Months Ended, December 31, 2023 March 31, 2024 June 30, 2024 September 30, 2024 December 31, 2024 Credit Adjusted EBITDA Reconciliation Net Income 37.3$ 53.0$ 86.6$ 39.3$ (16.7)$ Provision for income taxes 50.1 21.9 33.7 24.4 38.3 Interest expense and other, net 32.6 23.2 20.4 33.8 33.7 Depreciation and Amortization 42.0 39.2 38.7 39.2 48.6 EBITDA 162.0$ 137.3$ 179.4$ 136.7$ 103.9$ Impairment of intangible assets - 7.0 - 29.3 32.6 Stock-based compensation (1) 27.5 23.7 22.9 23.6 29.0 Contingent consideration 1.4 2.9 (16.3) (2.4) 6.0 Acquisition and related expenses (2) (2.2) 2.2 0.5 7.0 10.0 Other items (3) 0.2 12.5 4.5 3.0 2.4 Credit Adjusted EBITDA 188.9$ 185.6$ 191.0$ 197.2$ 183.9$

 
APPENDIX Reconciliation of GAAP to Non-GAAP Measure 16Note: USD in millions. (1) Reflects stock-based compensation expense related to the issuance of equity awards to our employees and Directors. (2) Includes costs incurred to evaluate and pursue acquisition activities as well as costs incurred by the Company in connection with the evaluation of strategic alternatives. (3) The amount for the year ended December 31, 2024 consists primarily of $14.5 million and $6.9 million incurred by the Company related to severance and restructuring activities, respectively. The amount for the year ended December 31, 2023 consists primarily of $1.8 million incurred by the Company for severance and $1.0 million for a tax assessment paid under protest. Twelve Months Ended, December 31, 2023 December 31, 2024 Credit Adjusted EBITDA Reconciliation Net Income 235.0$ 162.2$ Provision for income taxes 157.1 118.3 Interest expense and other, net 109.5 111.1 Depreciation and Amortization 158.0 165.7 EBITDA 659.6$ 557.3$ Impairment of intangible assets 51.3 68.9 Stock-based compensation (1) 110.0 99.2 Contingent consideration 1.4 (9.8) Acquisition and related expenses (2) 6.5 19.7 Other items (3) 3.4 22.4 Credit Adjusted EBITDA 832.2$ 757.7$

 
APPENDIX Calculation of Free Cash Flow 17Note: USD in millions. Twelve Months Ended, December 31, 2023 December 31, 2024 Free Cash Flow Reconciliation Cash Flow from Operating Activities 515.6$ 490.1$ Purchase of property and equipment (32.6) (40.9) Capitalization of internal use software costs (37.4) (31.6) Purchase of software for internal use (9.2) (20.8) Free Cash Flow 436.4$ 396.8$

 
APPENDIX Average Revenue per Daily Active User: or “ARPDAU” means (i) the total revenue in a given period, (ii) divided by the number of days in that period, (iii) divided by the average Daily Active Users during that period. Daily Active Users: or “DAUs” means the number of individuals who played one of our games during a particular day on a particular platform. Under this metric, an individual who plays two different games on the same day is counted as two DAUs. Similarly, an individual who plays the same game on two different platforms (e.g., web and mobile) or on two different social networks on the same day would be counted as two Daily Active Users. Average Daily Active Users for a particular period is the average of the DAUs for each day during that period. Daily Paying Users: or “DPUs” means the number of individuals who purchased, with real world currency, virtual currency or items in any of our games on a particular day. Under this metric, an individual who makes a purchase of virtual currency or items in two different games on the same day is counted as two DPUs. Similarly, an individual who makes a purchase of virtual currency or items in any of our games on two different platforms (e.g., web and mobile) or on two different social networks on the same day could be counted as two Daily Paying Users. Average Daily Paying Users for a particular period is the average of the DPUs for each day during that period. Daily Payer Conversion: means (i) the total number of Daily Paying Users, (ii) divided by the number of Daily Active Users on a particular day. Average Daily Payer Conversion for a particular period is the average of the Daily Payer Conversion rates for each day during that period. Casual Themed Games: portfolio of games that include - Bingo Blitz, Solitaire Grand Harvest, June’s Journey, Best Fiends, Board Kings, Pirate Kings, Pearl’s Peril, Best Fiends Stars, Redecor, Animals & Coins, and Other. Social Casino Themed Games: portfolio of games that include - Slotomania, House of Fun, Caesars Slots, World Series of Poker, Governor of Poker 3, and Other. Direct-to-Consumer Platforms: Playtika’s own internal proprietary platforms where payment processing fees and other related expenses for in-app purchases are typically 3 to 4%, compared to the 30% platform fee for third party platforms. Credit Adjusted EBITDA: Our Credit Agreement defines Adjusted EBITDA (which we call “Credit Adjusted EBITDA”) as net income before (i) interest expense, (ii) interest income, (iii) provision for income taxes, (iv) depreciation and amortization expense, (v) stock-based compensation, (vi) contingent consideration, (vii) acquisition and related expenses, and (viii) certain other items. Free Cash Flow: We defined Free Cash Flow as net cash provided by operating activities minus capital expenditures. Our capital expenditures include purchase of property and equipment, capitalization of internal use software costs, and purchase of software for internal use. Glossary of Key Terms 18

 
v3.25.0.1
Cover
Feb. 27, 2025
Cover [Abstract]  
Document Type 8-K
Document Period End Date Feb. 27, 2025
Entity File Number 001-39896
Entity Registrant Name PLAYTIKA HOLDING CORP.
Entity Incorporation, State or Country Code DE
Entity Tax Identification Number 81-3634591
Entity Address, Address Line One c/o Playtika Ltd.
Entity Address, Address Line Two HaChoshlim St 8
Entity Address, City or Town Herzliya Pituach
Entity Address, Country IL
City Area Code 972-73
Local Phone Number 316-3251
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common Stock, $0.01 par value
Trading Symbol PLTK
Security Exchange Name NASDAQ
Entity Emerging Growth Company false
Entity Central Index Key 0001828016
Amendment Flag false
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