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Playtika (NASDAQ: PLTK) Q1 2026 revenue grows as outlook raised

Filing Impact
(Very High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Playtika Holding Corp. reported Q1 2026 revenue of $744.7 million, up 9.7% sequentially and 5.5% year over year. The company posted a net loss of $57.5 million, compared with net income of $30.6 million a year earlier, largely reflecting non-cash contingent consideration tied to the SuperPlay acquisition.

Adjusted EBITDA was $125.2 million, down 37.8% sequentially and 25.2% year over year, while record Direct-to-Consumer platforms revenue reached $291.8 million, up 62.8% year over year. Average Daily Paying Users were 387K and Average Daily Payer Conversion was 4.5%.

Cash, cash equivalents and short-term investments totaled $779.2 million as of March 31, 2026. Playtika raised its full-year 2026 revenue guidance to $2.75–$2.85 billion and increased its Adjusted EBITDA guidance to $750–$790 million. The Board appointed Tae Lee as Chief Financial Officer, effective May 5, 2026.

Positive

  • Raised 2026 outlook: Full-year revenue guidance increased to $2.75–$2.85 billion and Adjusted EBITDA guidance to $750–$790 million, signaling management confidence in ongoing growth.
  • Strong Direct-to-Consumer growth: DTC platforms delivered record revenue of $291.8 million, up 62.8% year over year and 16.7% sequentially, highlighting successful migration toward higher-margin proprietary channels.

Negative

  • Return to net loss: Q1 2026 showed a net loss of $57.5 million versus net income of $30.6 million a year earlier, reflecting higher costs including contingent consideration.
  • Margin compression: Adjusted EBITDA fell to $125.2 million, with margin declining to 16.8% from 23.7% in Q1 2025 and 29.7% in Q4 2025, indicating reduced profitability despite revenue growth.

Insights

Playtika grows revenue and DTC sharply but margins compress, while full-year guidance is raised.

Playtika delivered Q1 2026 revenue of $744.7 million, up 5.5% year over year, driven by strong performance in Disney Solitaire and continued expansion of Direct-to-Consumer platforms, which generated record revenue of $291.8 million, up 62.8% year over year.

Profitability weakened: net results swung to a loss of $57.5 million versus prior-year profit, and Adjusted EBITDA fell to $125.2 million, with margin decreasing from 23.7% to 16.8%. Management attributes the loss mainly to non-cash contingent consideration linked to the SuperPlay earnout and a front-loaded investment cadence as SuperPlay scales.

Despite margin pressure, the company increased 2026 revenue guidance to $2.75–$2.85 billion and Adjusted EBITDA guidance to $750–$790 million. Liquidity remains significant with $779.2 million in cash, cash equivalents and short-term investments as of March 31, 2026, and net leverage around 2.9x as presented in the capital structure overview.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Q1 2026 Revenue $744.7 million Three months ended March 31, 2026
Q1 2026 Net Income (Loss) $(57.5) million Three months ended March 31, 2026
Q1 2026 Adjusted EBITDA $125.2 million Three months ended March 31, 2026
Direct-to-Consumer Revenue $291.8 million Q1 2026, up 62.8% year over year
Cash and Short-Term Investments $779.2 million As of March 31, 2026
2026 Revenue Guidance $2.75–$2.85 billion Updated full-year 2026 outlook
2026 Adjusted EBITDA Guidance $750–$790 million Updated full-year 2026 outlook
Free Cash Flow $2.6 million Three months ended March 31, 2026
Adjusted EBITDA financial
"Adjusted EBITDA of $125.2 million decreased (37.8)% sequentially and (25.2)% year over year."
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
Direct-to-Consumer Platforms financial
"Record DTC platforms revenue of $291.8 million increased 16.7% sequentially and 62.8% year over year."
Free Cash Flow financial
"Free Cash Flow | $ | 2.6 | | | $ | (6.5) |"
Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.
Contingent consideration financial
"Net Loss reflects a non-cash impact from contingent consideration remeasurement related to the earnout payment tied to the SuperPlay acquisition."
Contingent consideration is an additional payment agreed when one company buys another that will be paid later only if specific future targets are met, such as revenue, profit, or regulatory milestones. It matters to investors because it shifts risk between buyer and seller and affects the acquiring company's future cash flow and reported value — like promising a bonus after results are proven.
Average Daily Paying Users financial
"Average Daily Paying Users of 387K increased 8.4% sequentially and decreased (0.8)% year over year."
Average daily paying users measures the typical number of unique customers who make a payment each day, averaged across a reporting period. For investors it shows how many users actually contribute revenue on a routine basis—similar to averaging how many people buy a coffee every day at a cafe—so it helps assess revenue stability, user monetization and whether growth is driven by more paying customers or by higher spending per customer.
Net income margin financial
"Net income margin | | | | | (7.7) % | | 4.3 %"
Net income margin measures the portion of a company’s sales that remains as profit after paying all costs, interest, and taxes, expressed as a percentage of revenue. It matters to investors because it shows how much profit a business keeps from each dollar of sales—like the slice of a pie left after all the bills are paid—helping compare profitability across companies and track whether management is improving efficiency or facing pressure on margins.
Revenue $744.7 million +5.5% year over year
Net income (loss) $(57.5) million from $30.6 million profit in Q1 2025
Adjusted EBITDA $125.2 million -25.2% year over year
Adjusted Net Income $13.6 million from $36.2 million in Q1 2025
Guidance

For full-year 2026, Playtika now expects revenue of $2.75–$2.85 billion and Adjusted EBITDA of $750–$790 million.

Understanding 8-K Material Events →
0001828016FALSE00018280162026-05-072026-05-07

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 7, 2026

Commission File Number: 001-39896


PLAYTIKA HOLDING CORP.
(Exact Name of Registrant as Specified in its Charter)

Delaware81-3634591
(State of other jurisdiction(I.R.S. Employer
of incorporation or organization)Identification No.)
c/o Playtika Ltd.
HaChoshlim St 8
Herzliya Pituach, Israel
972-73-316-3251
(Address, including zip code, and telephone number, including area code, of registrant’s principal executive offices)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, $0.01 par valuePLTKThe Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b 2 of this chapter).
Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐


Item 2.02    Results of Operations and Financial Condition.

On May 7, 2026, Playtika Holding Corp. issued a press release announcing its financial results for the quarter ended March 31, 2026. A copy of the press release is furnished herewith as Exhibit 99.1.

In accordance with General Instruction B.2. of Form 8-K, the information in this Item 2.02, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or the Exchange Act, or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.

Item 9.01    Financial Statements and Exhibits.

(d)    Exhibits

99.1
Press Release dated May 7, 2026
99.2
First Quarter 2026 Earnings Presentation
104Cover page interactive data file (embedded within the Inline XBRL document).


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

PLAYTIKA HOLDING CORP.
Registrant
By:/s/ Tae Lee
Tae Lee
Chief Financial Officer
Dated as of May 7, 2026


Exhibit 99.1


Playtika Holding Corp. Reports Q1 2026 Financial Results
Revenue of $744.7 million and Direct-to-Consumer (“DTC”) Revenue of $291.8 million
Revenue Increased 9.7% Sequentially and 5.5% Year Over Year
DTC Platforms Revenue Increased 16.7% Sequentially and 62.8% Year Over Year

Herzliya, Israel - May 7, 2026 - Playtika Holding Corp. (NASDAQ: PLTK) today released financial results for its first quarter for the period ending March 31, 2026.

Financial Highlights

•Revenue of $744.7 million increased 9.7% sequentially and 5.5% year over year.
•Record DTC platforms revenue of $291.8 million increased 16.7% sequentially and 62.8% year over year.
•Net Loss of $(57.5) million and Adjusted Net Income of $13.6 million.
•Net Loss reflects a non-cash impact from contingent consideration remeasurement related to the earnout payment tied to the SuperPlay acquisition.
•Adjusted EBITDA of $125.2 million decreased (37.8)% sequentially and (25.2)% year over year.
•Cash, cash equivalents, and short-term investments totaled $779.2 million as of March 31, 2026.

“We delivered a strong start to 2026, led by continued momentum in Disney Solitaire and another quarter of record breaking performance in Direct-to-Consumer,” said Robert Antokol, Chief Executive Officer. “Just as importantly, we are seeing signs of improved stability across our organic portfolio quarter over quarter. We remain focused on disciplined execution, investing behind the opportunities we believe can drive sustained engagement and long-term value creation.”

“Q1 performance is ahead of our prior expectations, with SuperPlay tracking ahead of plan and the core portfolio showing strength,” said Tae Lee, Chief Financial Officer. “Our Adjusted EBITDA for the quarter reflects a planned, front-loaded investment cadence as SuperPlay scales, which we expect to normalize over the year.”

Board Appoints Tae Lee as Chief Financial Officer

The Board of Directors has appointed Tae Lee as Chief Financial Officer, effective May 5th, following his service as Acting Chief Financial Officer since April 2026.

Selected Operational Metrics and Business Highlights

•Average Daily Paying Users of 387K increased 8.4% sequentially and decreased (0.8)% year over year.
•Average Payer Conversion of 4.5%, consistent with Q4 2025 conversion and up from 4.3% in Q1 2025.
•Bingo Blitz revenue of $153.7 million decreased (3.0)% sequentially and (5.4)% year over year.
•Disney Solitaire revenue of $123.3 million increased 72.1% sequentially.
•June’s Journey revenue of $76.0 million increased 8.7% sequentially and 10.4% year over year.
•All-time high in revenue and DTC platforms revenue.

Financial Outlook

We are raising our full-year 2026 guidance to $2.75 - $2.85 billion (from $2.70 - $2.80 billion) and increasing our Adjusted EBITDA range to $750 - $790 million (from $730 - $770 million).



Conference Call

Playtika management will host a conference call at 5:30 a.m. Pacific Time (8:30 a.m. Eastern Time) today to discuss the company’s results. The conference call can be accessed via a webcast accessible at investors.playtika.com. A replay of the call will be available through the website one hour following the call and will be archived for one year.

Summary Operating Results of Playtika Holding Corp.

Three months ended March 31,
(in millions, except percentages, Average DPUs, and ARPDAU)20262025
Revenues$744.7 $706.0 
Total costs and expenses$794.3 $638.2 
Operating income (loss)$(49.6)$67.8 
Net income (loss)$(57.5)$30.6 
Adjusted EBITDA$125.2 $167.3 
Net income margin(7.7)%4.3 %
Adjusted EBITDA margin16.8 %23.7 %
Non-financial performance metrics
Average DAUs8.6 9.0 
Average DPUs (in thousands)387 390 
Average Daily Payer Conversion4.5 %4.3 %
ARPDAU$0.94 $0.87 
Average MAUs30.1 31.8 
About Playtika Holding Corp.

Playtika (NASDAQ: PLTK) is a mobile gaming entertainment and technology market leader with a portfolio of multiple game titles. Founded in 2010, Playtika was among the first to offer free-to-play social games on social networks and, shortly after, on mobile platforms. Headquartered in Herzliya, Israel, and guided by a mission to entertain the world through infinite ways to play, Playtika has employees across offices worldwide.

Forward Looking Information

This press release contains “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Section 21E of the Exchange Act. All statements other than statements of historical facts contained in this press release, including statements regarding our business strategy, plans and our objectives for future operations, are forward-looking statements. Further, statements that include words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “future,” “intend,” “intent,” “may,” “might,” “potential,” “present,” “preserve,” “project,” “pursue,” “should,” “will,” or “would,” or the negative of these words or other words or expressions of similar meaning may identify forward-looking statements.

We have based these forward-looking statements largely on our current expectations and projections about future events and trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives, and financial needs. The achievement or success of the matters covered by such forward-looking statements involves significant risks, uncertainties and assumptions, including, but not limited to, the risks and uncertainties discussed in our filings with the Securities and Exchange Commission. Moreover, we operate in a very competitive and rapidly changing environment and industry. As a result, it is not possible for our management to assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, the forward-looking


statements discussed in this press release may not occur and actual results could differ materially and adversely from those anticipated, predicted or implied in the forward-looking statements.

Important factors that could cause actual results to differ materially from estimates or projections contained in the forward-looking statements include without limitation:

•actions of our majority shareholder or other third parties that influence us;
•our reliance on third-party platforms, such as the iOS App Store and Google Play Store, to distribute our games and collect revenues, and the risk that such platforms may adversely change their policies;
•our reliance on a limited number of games to generate the majority of our revenue;
•our reliance on a small percentage of total users to generate a majority of our revenue;
•our free-to-play business model, and the value of virtual items sold in our games, is highly dependent on how we manage the game revenues and pricing models;
•our inability to refinance our indebtedness, including, without limitation, our $550 million revolving credit facility which is set to expire in March 2027, or to obtain additional financing on favorable terms or at all;
•our inability to identify acquisition targets that fit our strategy or complete acquisitions and integrate any acquired businesses successfully or realize the anticipated benefits of such acquisitions could limit our growth, disrupt our plans and operations or impact the amount of capital allocated to mergers and acquisitions;
•our ability to compete in a highly competitive industry with low barriers to entry;
•our ability to retain existing players, attract new players and increase the monetization of our player base;
•our ability to develop and/or launch new products and content or otherwise execute against our product roadmap strategy;
•we have significant indebtedness and are subject to the obligations and restrictive covenants under our debt instruments;
•the impact of an economic recession or periods of increased inflation, and any reductions to household spending on the types of discretionary entertainment we offer;
•our controlled company status;
•legal or regulatory restrictions or proceedings could adversely impact our business and limit the growth of our operations;
•risks related to our international operations and ownership, including our significant operations in Israel and Ukraine and the fact that our controlling stockholder is a Chinese-owned company;
•geopolitical events such as the Wars in Israel and Ukraine;
•our reliance on key personnel;
•market conditions or other factors affecting the payment of dividends, including the decision whether or not to pay a dividend;
•uncertainties regarding the amount and timing of repurchases under our stock repurchase program;
•security breaches or other disruptions could compromise our information or our players’ information and expose us to liability; and
•our inability to protect our intellectual property and proprietary information could adversely impact our business.



PLAYTIKA HOLDING CORP.
CONSOLIDATED BALANCE SHEETS
(In millions, except par value)
March 31,December 31,
20262025
(Unaudited)
ASSETS
Current assets
Cash and cash equivalents$779.2 $684.2 
Short-term investments— 136.0 
Restricted cash1.5 1.5 
Accounts receivable180.0 161.8 
Prepaid expenses and other current assets108.2 80.4 
Total current assets1,068.9 1,063.9 
Property and equipment, net96.4 102.9 
Operating lease right-of-use assets118.6 124.2 
Intangible assets other than goodwill, net401.0 425.7 
Goodwill1,695.7 1,695.7 
Deferred tax assets, net173.7 173.2 
Investments in unconsolidated entities17.3 17.5 
Other non-current assets115.3 115.8 
Total assets$3,686.9 $3,718.9 
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Current liabilities
Current maturities of long-term debt$11.1 $11.1 
Accounts payable87.3 80.3 
Contingent consideration459.0 454.0 
Operating lease liabilities25.4 27.5 
Accrued expenses and other current liabilities321.3 395.0 
Total current liabilities904.1 967.9 
Long-term debt2,375.4 2,378.0 
Contingent consideration370.0 280.0 
Operating lease liabilities108.3 115.4 
Deferred tax liabilities5.1 8.2 
Other long-term liabilities387.1 380.8 
Total liabilities4,150.0 4,130.3 
Commitments and contingencies
Stockholders' equity (deficit)
Common stock of $0.01 par value; 1,600.0 shares authorized; 432.2 and 428.8 shares issued, respectively, and 380.4 and 377.0 shares outstanding, respectively
4.3 4.3 
Treasury stock at cost, 51.8 shares
(603.5)(603.5)
Additional paid-in capital1,436.2 1,423.1 
Accumulated other comprehensive income8.6 15.9 
Accumulated deficit(1,308.7)(1,251.2)
Total stockholders' deficit(463.1)(411.4)
Total liabilities and stockholders’ deficit$3,686.9 $3,718.9 


PLAYTIKA HOLDING CORP.
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(In millions, except for per share data)
(Unaudited)

Three months ended March 31,
20262025
Revenues$744.7 $706.0 
Costs and expenses
Cost of revenue192.2 197.4 
Research and development98.0 103.8 
Sales and marketing360.6 271.8 
General and administrative143.5 65.2 
Total costs and expenses794.3 638.2 
Income (loss) from operations(49.6)67.8 
Interest and other, net24.2 26.7 
Income (loss) before income taxes(73.8)41.1 
Provision for income taxes(16.3)10.5 
Net income (loss)(57.5)30.6 
Other comprehensive income (loss)
Foreign currency translation— 7.2 
Change in fair value of derivatives(7.3)(6.7)
Total other comprehensive income (loss)(7.3)0.5 
Comprehensive income (loss)$(64.8)$31.1 
Net income (loss) per share attributable to common stockholders, basic$(0.15)$0.08 
Net income (loss) per share attributable to common stockholders, diluted$(0.15)$0.08 
Weighted-average shares used in computing net income (loss) per share attributable to common stockholders, basic378.3 375.4 
Weighted-average shares used in computing net income (loss) per share attributable to common stockholders, diluted378.3 376.0 


PLAYTIKA HOLDING CORP.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
(Unaudited)

Three months ended March 31,
20262025
Cash flows from operating activities$22.8 $18.8 
Cash flows from investing activities
Purchase of property and equipment(5.7)(10.4)
Capitalization of internal use software costs(8.9)(8.3)
Purchase of software for internal use(5.6)(6.6)
Proceeds from short-term investments135.6 — 
Purchase of short-term investments— (79.5)
Other investing activities0.1 (0.3)
Net cash provided by (used in) investing activities115.5 (105.1)
Cash flows from financing activities
Dividend paid(37.7)(37.3)
Repayments on bank borrowings(4.8)(4.8)
Payment of tax withholdings on stock-based payments(1.1)(0.5)
Payment for share buyback— (4.8)
Net cash used in financing activities(43.6)(47.4)
Effect of exchange rate changes on cash and cash equivalents and
restricted cash
0.3 2.3 
Net change in cash, cash equivalents and restricted cash95.0 (131.4)
Cash, cash equivalents and restricted cash at the beginning of the period685.7 567.7 
Cash, cash equivalents and restricted cash at the end of the period$780.7 $436.3 

CALCULATION OF FREE CASH FLOW
(In millions)

Three months ended March 31,
20262025
Cash flows from operating activities$22.8 $18.8 
Purchase of property and equipment(5.7)(10.4)
Capitalization of internal use software costs(8.9)(8.3)
Purchase of software for internal use(5.6)(6.6)
Free Cash Flow$2.6 $(6.5)


Non-GAAP Financial Measures

Adjusted EBITDA and Adjusted Net Income are non-GAAP financial measures and should not be construed as an alternative to net income as an indicator of operating performance, nor as an alternative to cash flow provided by operating activities as a measure of liquidity, or any other performance measure in each case as determined in accordance with GAAP.

Our Credit Agreement defines Adjusted EBITDA as net income before (i) interest expense, (ii) interest income, (iii) provision for income taxes, (iv) depreciation and amortization expense, (v) impairment charges, (vi) stock-based compensation, (vii) contingent consideration, (viii) acquisition and related expenses, and (ix) certain other items. We calculate Adjusted EBITDA Margin as Adjusted EBITDA divided by revenues.

We define Adjusted Net Income as net income before (i) impairment charges, and (ii) contingent consideration.

Adjusted EBITDA, Adjusted EBITDA Margin and Adjusted Net Income as calculated herein may not be comparable to similarly titled measures reported by other companies within the industry and are not determined in accordance with GAAP. Our presentation of Adjusted EBITDA, Adjusted EBITDA Margin and Adjusted Net Income should not be construed as an inference that our future results will be unaffected by unusual or unexpected items.

RECONCILIATION OF NET INCOME TO ADJUSTED EBITDA
(In millions)

The following table sets forth a reconciliation of Adjusted EBITDA to net income, the closest GAAP financial measure:
Three months ended March 31,
20262025
Net income (loss)$(57.5)$30.6 
Provision for income taxes(16.3)10.5 
Interest expense and other, net24.2 26.7 
Depreciation and amortization44.9 59.2 
EBITDA(4.7)127.0 
Stock-based compensation(1)
14.1 25.5 
Changes in estimated value of contingent consideration95.0 6.9 
Acquisition and related expenses(2)
7.2 6.5 
Other items(3)
13.6 1.4 
Adjusted EBITDA$125.2 $167.3 
Net income margin(7.7)%4.3 %
Adjusted EBITDA margin16.8 %23.7 %
_________

(1)    Reflects stock-based compensation expense related to the issuance of equity awards to our employees and Directors.
(2)    Includes costs incurred to evaluate and pursue acquisition activities as well as costs incurred by the Company in connection with the evaluation of strategic alternatives.
(3)    Amounts for the three months ended March 31, 2026 consists entirely of severance, and the amount for the three months ended March 31, 2025 consists primarily of $0.7 million of severance incurred by the Company.
    


RECONCILIATION OF NET INCOME TO ADJUSTED NET INCOME
(In millions)

The following table sets forth a reconciliation of Adjusted Net Income to net income (loss), the closest GAAP financial measure:
Three months ended March 31,
20262025
Net income (loss)$(57.5)$30.6 
Changes in estimated value of contingent consideration95.0 6.9 
Income tax impact of adjustments(23.9)(1.3)
Adjusted Net Income$13.6 $36.2 


Contacts
Investor Relations
IR@playtika.com

PLAYTIKA HOLDING CORP. First Quarter 2026 Results May 7, 2026

 

LEGAL DISCLAIMER 2 Forward-Looking Statements This presentation contains “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Section 21E of the Exchange Act. All statements other than statements of historical facts contained in this presentation, including statements regarding our business strategy, plans and our objectives for future operations, are forward-looking statements. Further, statements that include words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “future,” “intend,” “intent,” “may,” “might,” “potential,” “present,” “preserve,” “project,” “pursue,” “should,” “will,” or “would,” or the negative of these words or other words or expressions of similar meaning may identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives, and financial needs. The achievement or success of the matters covered by such forward-looking statements involves significant risks, uncertainties and assumptions, including, but not limited to, the risks and uncertainties discussed in our filings with the Securities and Exchange Commission. Moreover, we operate in a very competitive and rapidly changing environment and industry. As a result, it is not possible for our management to assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forwar d-looking statements we may make. In light of these risks, uncertainties and assumptions, the forward-looking statements discussed in this press release may not occur and actual results could differ materially and adversely from those anticipated, predicted or implied in the forward-looking statements. Important factors that could cause actual results to differ materially from estimates or projections contained in the forward-looking statements include without limitation: • actions of our majority shareholder or other third parties that influence us; • our reliance on third-party platforms, such as the iOS App Store and Google Play Store, to distribute our games and collect revenues, and the risk that such platforms may adversely change their policies; • our reliance on a limited number of games to generate the majority of our revenue; • our reliance on a small percentage of total users to generate a majority of our revenue; • our free-to-play business model, and the value of virtual items sold in our games, is highly dependent on how we manage the game revenues and pricing models; • our inability to refinance our indebtedness, including, without limitation, our $550 million revolving credit facility which is set to expire in March 2027, or to obtain additional financing on favorable terms or at all; • our inability to identify acquisition targets that fit our strategy or complete acquisitions and integrate any acquired busin esses successfully or realize the anticipated benefits of such acquisitions could limit our growth, disrupt our plans and operat ions or impact the amount of capital allocated to mergers and acquisitions; • our ability to compete in a highly competitive industry with low barriers to entry; • our ability to retain existing players, attract new players and increase the monetization of our player base; • our ability to develop and/or launch new products and content or otherwise execute against our product roadmap strategy; • we have significant indebtedness and are subject to the obligations and restrictive covenants under our debt instruments; • the impact of an economic recession or periods of increased inflation, and any reductions to household spending on the types of discretionary entertainment we offer; • our controlled company status; • legal or regulatory restrictions or proceedings could adversely impact our business and limit the growth of our operations; • risks related to our international operations and ownership, including our significant operations in Israel and Ukraine and the fact that our controlling stockholder is a Chinese-owned company; • geopolitical events such as the Wars in Israel and Ukraine; • our reliance on key personnel; • market conditions or other factors affecting the payment of dividends, including the decision whether or not to pay a dividend; • uncertainties regarding the amount and timing of repurchases under our stock repurchase program; • security breaches or other disruptions could compromise our information or our players ’ information and expose us to liability; and • our inability to protect our intellectual property and proprietary information could adversely impact our business. Additional factors that may cause future events and actual results, financial or otherwise, to differ, potentially materially , from those discussed in or implied by the forward-looking statements include the risks and uncertainties discussed in our filings with the Securities and Exchange Commission. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that the future results, levels of activity, performance or events and circumstances reflected in the forward-looking statements will be achieved or occur, and reported results should not be considered as an indication of future performance. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements speak only as of the date they are made. Except as required by law, we undertake no obligation to update any forward-looking statements for any reason to conform these statements to actual results or to changes in our expectations. Non-GAAP Financial Measures This presentation contains certain non-GAAP financial measures of us, including Adjusted Net Income and Adjusted EBITDA. A "non-GAAP financial measure" is defined as a numerical measure of a company's financial performance that excludes or includes amounts so as to be different than the most directly comparable measure calculated and presented in accordance with GAAP in the statements of income, balance sheets or statements of cash flow of the company. You should not consider these non-GAAP financial measures in isolation, or as a substitute for analysis of results as reported under GAAP. For information regarding the non-GAAP financial measures used by us, and for a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP measures, see the Appendix to this presentation. `

 

Q1 FINANCIAL HIGHLIGHTS Revenue of $744.7 million, Net Loss of $(57.5) million, Adjusted Net Income of $13.6 million, and Adjusted EBITDA of $125.2 million. Revenue increased by 9.7% sequentially and 5.5% year over year. Adjusted Net Income decreased by (84.7)% sequentially and (62.4)% year over year. Adjusted EBITDA decreased (37.8)% sequentially and (25.2)% year over year. Record breaking Direct-to-Consumer revenue grew 16.7% sequentially and 62.8% year over year. Net Loss margin of (7.7)%, compared to (45.6)% in Q4 2025 and Net Income margin of 4.3% in Q1 2025. Adjusted Net Income margin of 1.8%, compared to 13.1% in Q4 2025 and 5.1% in Q1 2025. Adjusted EBITDA margin of 16.8%, compared to 29.7% in Q4 2025 and 23.7% in Q1 2025. Cash, cash equivalents, and short-term investments totaled $779.2 million as of March 31, 2026. 3 Note: USD in millions. See appendix for definitions of Adjusted EBITDA and Adjusted Net Income. Adjusted EBITDA and Adjusted Net Income are non-gaap measures, see reconciliation on slides 12 and 13.

 

Q1 BUSINESS HIGHLIGHTS Average Daily Paying Users of 387K increased 8.4% sequentially and decreased (0.8)% year over year. Average Payer Conversion of 4.5%, up from 4.3% in Q1 2025 and consistent with Q4 2025 conversion. Bingo Blitz(1) revenue of $153.7 million decreased (3.0)% sequentially and (5.4)% year over year. Disney Solitaire(1) revenue of $123.3 million increased 72.1% sequentially. June’s Journey(1) revenue of $76.0 million increased 8.7% sequentially and 10.4% year over year. 4 Note: See appendix for definitions of Average Daily Paying Users and Average Payer Conversion. Note(1): Bingo Blitz is the number one Bingo game. Disney Solitaire, Solitaire Grand Harvest, and Domino Dreams occupy the top three positions in Tabletop Games. June’s Journey is the number one Hidden Objects game. WSOP is the number one Poker game. Dice Dreams is a top-three Coin Looter game. Genre rankings based on worldwide iOS and Google Play store net revenues obtained from Sensor Tower as of January 2026.

 

+62.8% QUARTERLY REVENUE BY PLATFORM 5 Direct-to-Consumer Platforms Revenue Third-Party Platforms RevenueTotal Revenue +5.5% (14.0)% Note: USD in millions. See appendix for definitions of Direct-to-Consumer Platforms.

 

SELECTED QUARTERLY FINANCIALS 6 Note: USD in millions. See appendix for definitions of Adjusted EBITDA. Adjusted EBITDA is a non-gaap measure, see reconciliation on slides 12 and 13. Net Income Adjusted EBITDA and Margin (25.2)%N/A

 

QUARTERLY KPI TRENDS 7 Average Daily Paying Users (in millions) Average Daily Active Users (in millions) Average Revenue per Daily Active User Average Payer Conversion (0.8)% (4.4)% +20bps Note: See appendix for definitions of Average Daily Paying Users, Average Daily Active Users, Average Revenue per Daily Active User, and Average Payer Conversion. +8.0%

 

REVENUE CONTRIBUTION 8Note: See appendix for definitions of Casual Themed Games, Social Casino Themed Games, and Direct-to-Consumer Platforms. Revenue Mix (Casual and Social Casino) Revenue Mix (DTC and 3rd Party Platforms)

 

CAPITAL STRUCTURE OVERVIEW 9 Available Liquidity (as of 03/31/26) Debt Maturity Profile (as of 03/31/26) Approximately $1.3 billion in availability liquidity. $868 million in available pro forma liquidity(1) Liquidity is expected to continue to improve with Free Cash Flow generation Net LTM leverage of approximately 2.9x(2). Capital Structure and Capital Allocation Note: USD in millions. Note(1): Pro Forma liquidity of approximately $868 million represents availability liquidty as of 3/31/2026 adjusted by $461 million in contingent considerations paid to the shareholders of SuperPlay in late April of 2026. PF cash balance as of 03/31/26 of $318.2 million. Note(2): Pro Forma for the payment of the year 1 SuperPlay earnout.

 

UPDATED FISCAL YEAR 2026 GUIDANCE 10 FY26 Initial Guidance FY26 Updated Guidance Revenue $2,700 million to $2,800 million $2,750 million to $2,850 million Adjusted EBITDA $730 million to $770 million $750 million to $790 million Adjusted EBITDA Margin 27% to 27.5% 27.3% to 27.7% Capital Expenditures $80 million $80 million Note: USD in millions. See appendix for definition of Adjusted EBITDA. Adjusted EBITDA is a non-gaap measure, see reconciliation of historical figures on slides 12 and 13.

 

APPENDIX Adjusted EBITDA and Adjusted Net Income are non-GAAP financial measures and should not be construed as an alternative to net income as an indicator of operating performance, nor as an alternative to cash flow provided by operating activities as a measure of liquidity, or any other performance measu re in each case as determined in accordance with GAAP. Our Credit Agreement defines Adjusted EBITDA as net income before (i) interest expense, (ii) interest income, (iii) provision for income taxes, (iv) depreciation and amortization expense, (v) impairment charges, (vi) stock-based compensation, (vii) contingent consideration, (viii) acquisition and related expenses, and (ix) certain other items. We calculate Adjusted EBITDA Margin as Adjusted EBITDA divided by revenues. We define Adjusted Net Income as net income before (i) impairment charges, and (ii) contingent consideration. Adjusted EBITDA, Adjusted EBITDA Margin and Adjusted Net Income as calculated herein may not be comparable to similarly title d measures reported by other companies within the industry and are not determined in accordance with GAAP. Our presentation of Adjusted EBITDA, Adjusted EBITDA Margin and Adju sted Net Income should not be construed as an inference that our future results will be unaffected by unusual or unexpected items. Non-GAAP Financial Measure 11

 

APPENDIX Reconciliation of GAAP to Non-GAAP Measure 12Note: USD in millions. (1) Reflects stock-based compensation expense related to the issuance of equity awards to our employees and Directors. (2) Includes costs incurred to evaluate and pursue acquisition activities as well as costs incurred by the Company in connection with the evaluation of strategic alternatives. (3) The amount for the three months ended March 31, 2026 consists entirely of severance and the amount for the three months ended March 31, 2025 consist primarily of $0.7 million of severance incurred by the company. Three Months Ended, March 31, 2025 June 30, 2025 September 30, 2025 December 31, 2025 March 31, 2026 Adjusted EBITDA Reconciliation Net Income (Loss) 30.6$ 33.2$ 39.1$ (309.3)$ (57.5)$ Provision for income taxes 10.5 11.9 19.0 (7.9) (16.3) Interest expense and other, net 26.7 64.6 40.3 36.2 24.2 Depreciation and Amortization 59.2 61.0 59.3 55.3 44.9 EBITDA 127.0$ 170.7$ 157.7$ (225.7)$ (4.7)$ Impairment charges - 0.4 1.5 4.5 - Stock-based compensation (1) 25.5 17.5 21.8 17.7 14.1 Contingent consideration 6.9 (33.0) 30.8 394.1 95.0 Acquisition and related expenses (2) 6.5 3.6 5.3 9.6 7.2 Other items (3) 1.4 7.8 0.4 1.2 13.6 Adjusted EBITDA 167.3$ 167.0$ 217.5$ 201.4$ 125.2$

 

APPENDIX Reconciliation of GAAP to Non-GAAP Measure 13Note: USD in millions. March 31, 2025 June 30, 2025 September 30, 2025 December 31, 2025 March 31, 2026 Net Income Reconciliation Net Income (Loss) 30.6$ 33.2$ 39.1$ (309.3)$ (57.5)$ Impairment charges - 0.4 1.5 4.5 - Contingent consideration 6.9 (33.0) 30.8 394.1 95.0 Income tax impact of adjustments (1.3) 5.9 (5.6) (0.3) (23.9) Adjusted Net Income 36.2$ 6.5$ 65.8$ 89.0$ 13.6$

 

APPENDIX Average Revenue per Daily Active User: or “ARPDAU” means (i) the total revenue in a given period, (ii) divided by the number of days in that period, (iii) divided by the average Daily Active Users during that period. Daily Active Users: or “DAUs” means the number of individuals who played one of our games during a particular day on a particular platform. Under this metric, an individual who plays two different games on the same day is counted as two DAUs. Similarly, an individual who plays the same game on two different platforms (e.g., web and mobile) or on two different social networks on the same day would be counted as two Daily Active Users. Average Daily Active Users for a particular period is the average of the DAUs for each day during that period. Daily Paying Users: or “DPUs” means the number of individuals who purchased, with real world currency, virtual currency or items in any of our games on a particular day. Under this metric, an individual who makes a purchase of virtual currency or items in two different games on the same day is counted as two DPUs. Similarly, an individual who makes a purchase of virtual currency or items in any of our games on two different platforms (e.g., web and mobile) or on two different social networks on the same day could be counted as two Daily Paying Users. Average Daily Paying Users for a particular period is the average of the DPUs for each day during that period. Daily Payer Conversion: means (i) the total number of Daily Paying Users, (ii) divided by the number of Daily Active Users on a particular day. Average Daily Payer Conversion for a particular period is the average of the Daily Payer Conversion rates for each day during that period. Casual Themed Games: portfolio of games that include - Bingo Blitz, Solitaire Grand Harvest, June’s Journey, Best Fiends, Board Kings, Pirate Kings, Pearl’s Peril, Best Fiends Stars, Redecor, Animals & Coins, Dice Dreams, Domino Dreams, Disney Solitaire, and Other. Social Casino Themed Games: portfolio of games that include - Slotomania, House of Fun, Caesars Slots, World Series of Poker, Governor of Poker 3, and Other. Direct-to-Consumer Platforms: Playtika’s own internal proprietary platforms where payment processing fees and other related expenses for in-app purchases are typically 3 to 4%, compared to the 30% platform fee for third party platforms. Adjusted Net Income: We define Adjusted Net Income as net income before (i) impairment charges, and (ii) contingent considerations. Adjusted EBITDA: Our Credit Agreement defines Adjusted EBITDA as net income before (i) interest expense, (ii) interest income, (iii) provision for income taxes, (iv) depreciation and amortization expense, (v) impairment charges, (vi) stock-based compensation, (vii) contingent consideration, (viii) acquisition and related expenses, and (ix) certain other items. Free Cash Flow: We defined Free Cash Flow as net cash provided by operating activities minus capital expenditures. Our capital expenditures include purchase of property and equipment, capitalization of internal use software costs, and purchase of software for internal use. Glossary of Key Terms 14

 

Source: View Original Filing on SEC EDGAR

FAQ

How did Playtika (PLTK) perform financially in Q1 2026?

Playtika reported Q1 2026 revenue of $744.7 million, up 5.5% year over year and 9.7% sequentially. The company posted a net loss of $57.5 million, compared with net income of $30.6 million a year earlier, largely due to non-cash contingent consideration impacts.

What were Playtika’s key profitability metrics in Q1 2026?

Playtika generated Adjusted EBITDA of $125.2 million in Q1 2026, down 25.2% year over year and 37.8% sequentially. Adjusted EBITDA margin declined to 16.8% from 23.7% in Q1 2025, while net loss margin was (7.7)% versus a 4.3% net income margin a year ago.

How fast is Playtika’s Direct-to-Consumer revenue growing?

Direct-to-Consumer platforms delivered record revenue of $291.8 million in Q1 2026, up 16.7% sequentially and 62.8% year over year. This rapid growth shows increasing player activity and spending on Playtika’s proprietary platforms compared with third-party distribution channels.

What guidance did Playtika provide for full-year 2026?

Playtika raised its 2026 guidance, targeting $2.75–$2.85 billion in revenue versus the prior $2.70–$2.80 billion range. It also increased expected Adjusted EBITDA to $750–$790 million, up from $730–$770 million, while keeping capital expenditures guidance at $80 million.

What is Playtika’s cash position and leverage as of March 31, 2026?

As of March 31, 2026, Playtika held $779.2 million in cash, cash equivalents and short-term investments, plus total assets of $3.69 billion. The company highlighted approximately $1.3 billion in available liquidity and net last-twelve-month leverage of about 2.9x in its capital structure overview.

Did Playtika announce any leadership changes in this filing?

Yes. Playtika’s Board of Directors appointed Tae Lee as Chief Financial Officer, effective May 5, 2026, after he had served as Acting Chief Financial Officer since April 2026. He also signed the report in his capacity as CFO on behalf of the company.

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