• Revenue of $28.5m, down 21% on pcp
• EBITDA loss of $3.0m vs $12.2m profit in pcp
• Significant investment in development and marketing of original IP titles

PlaySide Studios Ltd, the largest game developer in Australia, reported its 1HFY25 results. Revenue was $28.5m, down 21% from the prior corresponding period, due to lower original IP revenue as development on the Dumb Ways to Survive (Netflix) title was completed in March 2024. This was partially offset by expansions to existing work-for-hire projects. EBITDA was a loss of $3.0m, compared to a $12.2m profit in the prior corresponding period, driven by higher average headcount and $3.6m higher marketing costs. The company is investing heavily in its future portfolio of original IP titles, including a real-time strategy game using the Game of Thrones IP, a console title based on the Dumb Ways to Die franchise, and the highly anticipated PC/console title MOUSE: P.I. for Hire, which is set to launch in the December half of 2025.

For FY25, the company expects revenue of $50-54m and EBITDA loss of $6-10m, with closing FY25 cash of $10-15m.

PlaySide is focused on building a strong portfolio of original IP content that it owns, licenses or publishes under its brand. The company is investing heavily in the development and marketing of several major original IP titles, including a Game of Thrones real-time strategy game, a Dumb Ways to Die console title, and the highly anticipated MOUSE: P.I. for Hire, which is set to launch in the December half of 2025.