Playtika will remain an independent, publicly traded company after its board completed a review of strategic alternatives. The decision came alongside third-quarter results showing nearly flat revenue year over year, a sharp annual increase in direct-to-consumer sales and record quarterly adjusted EBITDA.
Revenue was weaker than in the prior quarter, while the company’s outlook for full-year revenue and adjusted EBITDA remains unchanged. Playtika said it now expects results around the midpoint of both forecast ranges.
Key details
- Third-quarter revenue was $673.8 million, down 7.8% from the second quarter and 0.1% from a year earlier.
- Direct-to-consumer revenue was $275.1 million, down 4.1% sequentially but up 31.4% year over year.
- Net income was $40.4 million. Adjusted net income was $120.7 million.
- Adjusted EBITDA reached a quarterly record of $252.1 million, up 22.3% from the prior quarter and 15.9% from a year earlier. The adjusted EBITDA margin was 37.4%.
- The company said marketing spending stepped down as planned during the quarter. Its chief financial officer also said Playtika intends to strengthen its balance sheet.
- Playtika ended the quarter with $594.6 million in cash, cash equivalents and short-term investments.
- The company reaffirmed its 2026 outlook: revenue of $2.75 billion to $2.85 billion and adjusted EBITDA of $750 million to $790 million. It now expects to finish around the midpoint of each range.
Business and player metrics
- Average daily paying users fell to 333,000, down 9.3% sequentially and 5.9% year over year.
- Average payer conversion rose to 4.7%, compared with 4.6% in the second quarter and 4.3% a year earlier.
- Bingo Blitz generated $133.0 million in revenue, down 8.3% sequentially and 18.2% year over year.
- Disney Solitaire revenue was $111.2 million, down 21.9% from the second quarter but up 88.4% year over year.
- June’s Journey brought in $76.6 million, up 2.4% sequentially and 12.1% year over year. Playtika said the game recorded double-digit annual growth in its ninth year.
What changes
The strategic review is over, and Playtika plans to continue operating as a standalone public company. No change in ownership or control was announced. The quarter’s results show contrasting performance across its games: Disney Solitaire and June’s Journey grew year over year, while Bingo Blitz declined, and the overall number of daily paying users also fell.