• Challenging FY25 with revenue down 25% and EBITDA loss of $7.4M
• Streamlined project slate, empowered senior leadership, and refined business development
• Confident in growing external projects revenue to drive financial stability

PlaySide Studios Ltd faced a challenging FY25 with revenue down 25% to $48.7m and an EBITDA loss of $7.4m compared to a $17.5m profit in FY24. The company has undergone a restructure, streamlining its project slate, empowering its senior leadership team, and refining its business development processes. The CEO is confident in growing the external projects (formerly work-for-hire) revenue to drive financial stability, noting tailwinds from large studios outsourcing more work. Key original IP titles like MOUSE, Dumb Ways to Die, and Game of Thrones: War for Westeros are progressing, with MOUSE set to launch in early 2026. The company has also raised additional capital and expects further funds from the Digital Games Tax Offset program. Going forward, the focus is on building a more sustainable, cash-generative business while still pursuing an ambitious original IP strategy.

PlaySide expects revenue to exceed FY25's revenue of $49m in FY26, with a reduction in operating costs.

The company is confident in growing its external projects revenue to greater heights than the $34m achieved in FY24, which will strengthen its balance sheet, provide a sustainable earnings profile, and enable further investment in original IP.