Source: PlaySide Studios
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • PlaySide Studios (ASX:PLY) achieves record quarterly revenue of $20.7 million
  • Original IP revenue surged to $11.1 million
  • PLY secured a multi-game license deal with Warner Bros
  • The company has now updated its revenue guidance for FY24 to $60-65 million
  • PLY last traded at 72 cents

PlaySide Studios (ASX:PLY) shares were up more than 20 per cent today as it reported record quarterly revenue of $20.7 million, to go along with positive EBITDA of $8 million.

The record revenue marks a 106 per cent rise on the prior corresponding period and as a result, the company has now upgraded its outlook for FY24.

PlaySide’s revenue guidance has been upped to $60-65 million on the previous guidance of $55-60 million. FY24 EBITDA has also been lifted to between $11-13 million.

The company’s quarter was highlighted by signing a multi-game licence deal with Warner Bros Interactive.

The agreement involves the development of two PC/Console game titles, with the first title already in progress.

“This deal marks the next phase of our growth plans, and we are committed to delivering high-quality gaming experiences to our audience.” PlaySide Studios Non-Executive Director Sophie Karzis said.

PlaySide also inked further agreements with 2K and Meta Platforms during the quarter, while also unveiling its second Port Melbourne studio.

The company’s Original IP revenue reached $11.1 million, representing an increase of 245 per cent pcp, with the popular Dumb Ways to Die mobile titles contributing significantly.

PLY last traded at 72 cents.

PLY by the numbers
More From The Market Online
The Market Online Video

Low IPOs through 2024 doesn’t mean there weren’t any ‘green shoots’

It’s been an undeniably slow year for IPOs, with just 25 fresh-faced debutants joining the Australian stock exchange through floats in 2024.
The Market Online Video

So much to say: The 10 stocks that got investor chins wagging on HotCopper in 2024

With more than seven million users moving through HotCopper forums every year, there’s always bound to be some fireside chats – and some
The Market Online Video

From Zip to Invictus: The 10 most watched stocks on HotCopper forums in 2024

Of the 2,200 entities listed on the ASX in 2024, ten stood out by quite a distance on the HotCopper forums as the
The Market Online Video

Strike Energy was HotCopper’s Most Watched stock in 2024 – and it’s still a ‘fantastic opportunity’

Strike Energy (ASX:STX) w…