• Operating revenue of $28.5m, down 21% from pcp
• Original IP revenue of $9.9m, down 44% from pcp
• EBITDA loss of $3.0m (pcp: $12.2m profit)

PlaySide Studios Ltd (ASX: PLY), Australia's largest video game developer and publisher, has announced its results for the half year ended 31 December 2024. The company reported operating revenue of $28.5 million, down 21% from the prior corresponding period (pcp), driven by a 44% decline in Original IP revenue to $9.9 million. However, the company maintained record Work for Hire revenue of $18.6 million, consistent with the pcp. The company reported an EBITDA loss of $3.0 million, compared to a $12.2 million profit in the pcp, and a net profit after tax (NPAT) loss of $5.3 million, down from a $9.0 million profit in the pcp. The company also reported a $1.1 million net operating cash flow, down from $12.8 million in the pcp, and a net cash balance of $28.5 million as of 30 June 2024. The company highlighted several operational highlights during the period, including the launch of several new game titles such as Kill Knight, Dumb Ways: Free for All, Thrive: Heavy Lies the Crown, and Shattered. The company also noted that it had invested approximately $13 million in growth initiatives during the first half as it pursues the development of several major Original IP titles, with high levels of investment expected to continue for the remainder of the year.

Revenue: $50-54m (WFH revenue: $33-36m, Original IP revenue: $17-18m) EBITDA loss of $6-10m Cash balance at 30 June 2025: $10-15m