• Revenue of $48.7m, down 25% from prior year
• Original IP revenue of $16.7m, down 45% from prior year
• EBITDA loss of $7.5m, including $1.7m in restructuring costs
• NPAT loss of $12.1m, down from $11.3m profit in prior year

PlaySide Studios Ltd, the largest game developer in Australia, reported its FY25 results, which showed a significant decline in revenue and profitability. Revenue for the year was $48.7m, down 25% from the prior year, with Original IP revenue falling 45% to $16.7m. This was primarily due to the absence of major Dumb Ways to Die projects that had contributed to the prior year's results. Work for Hire revenue declined 7% to $32.0m, with a strong first half tapering off in the second half. The company recorded an EBITDA loss of $7.5m, including $1.7m in restructuring costs, and a net loss of $12.1m, compared to a $11.3m profit in the prior year. The company undertook a restructuring in April 2025, resulting in 62 staff redundancies, in order to reduce costs and improve efficiency. Despite the challenges, PlaySide highlighted several major projects in development, including MOUSE: P.I. For Hire, Game of Thrones: War for Westeros, and new Dumb Ways to Die titles, which are expected to drive a return to growth in FY26. The company also raised $6.6m through a placement to support the launch of MOUSE: P.I. For Hire.

FY26 revenue is expected to exceed FY25 with a reduction in operating costs. The company will not provide explicit guidance until closer to the launch of MOUSE: P.I. For Hire.

PlaySide is focused on executing well on the launch of MOUSE: P.I. For Hire, which is expected to be a significant revenue event for FY26. The company also has several large Work for Hire opportunities in negotiation and plans to expand the Dumb Ways to Die brand to new gaming platforms and audiences.