• Revenue down 21% to $29.1m, driven by decline in Original IP Revenue
• EBITDA loss of $3.0m, down $15.1m on prior period
• Net cash position of $28.5m at 31 Dec 2024, down $8.6m from June 2024

PlaySide Studios Limited reported its financial results for the half-year ended 31 December 2024. Total revenue declined 21% to $29.1m, down from $36.8m in the prior corresponding period. This decrease was driven by a $7.7m (44%) decline in Original IP Revenue, which was partially offset by flat Work for Hire Revenue. Reported EBITDA amounted to a loss of $3.0m, down $15.1m on the prior period. This was mainly due to the revenue decline, increased general and administrative expenses, and higher selling expenses related to marketing for upcoming title launches. The company finished the half-year in a net cash position of $28.5m, a decrease of $8.6m from the June 2024 closing position of $37.1m. This was the net result of $1.1m generated from operating activities, $8.6m spent on investing activities, primarily on game development, and $0.4m used in financing activities.

The company did not provide any high-importance, price-sensitive forward-looking financial metrics in the announcement.