PlaySide Studios FY24 financial highlights

PlaySide Studios (ASX:PLY) recently conducted its 2024 Annual General Meeting, showcasing a robust financial performance for FY24. The company experienced a 68% increase in revenue, totaling $64.6 million. This growth was driven by significant increases in both Work-for-Hire and Original IP revenues. PlaySide is now channeling its efforts towards enhancing its portfolio of original IP titles for PC and Console platforms.

PlaySide Studios FY24 outlook and strategic goals

PlaySide Studios has reported a significant financial turnaround in FY24, marked by a 68% increase in revenue and a positive EBITDA of $17.5 million. The company is focused on expanding its portfolio of original IP titles, aiming to establish itself as a global leader in multi-platform games development. With anticipated FY25 revenues between $62 million and $68 million, PlaySide plans to invest heavily in game development and marketing. The company is also recovering in its Work-for-Hire segment and is diversifying its portfolio to mitigate over-reliance on individual titles. PlaySide's leadership remains committed to long-term growth, supported by an expanded workforce and strategic investments.

Executive commentary on PlaySide's performance

The strong financial performance in FY24, highlighted by increased revenue and profitability, underscores our strategic focus on original IP development. The successful launch of 'Kill Knight' and acquisition of the 'Game of Thrones' license represent key milestones in our journey to becoming a global leader in multi-platform games development.