Start here if you're new
what it is
Playstudios makes free mobile casino and casual games, then tries to turn your play time into ad, in-app, and rewards revenue.
how it gets paid
Last year Playstudios made $289M in revenue. legacy social casino was the main engine at $190M, or 66% of sales.
what just happened
Quarterly revenue was $55.4M, and the company still posted a loss as the legacy portfolio stayed weak.
At a glance
B balance sheet — gets the job done, barely
3.5% return on capital — nothing to write home about
-$0.22 fy2024 eps est
$289M fy2024 rev est
11.4% operating margin
xvary composite: 47/100 — below average
What they do
Playstudios makes free mobile casino and casual games, then tries to turn your play time into ad, in-app, and rewards revenue.
The sticky part is playAWARDS. It ties your game time to real perks, and that retention loop (retention → people come back → spending holds up) runs across casino titles and Tetris-branded apps. With 13 named games and 556 employees, Playstudios is selling habit, not just spins.
How they make money
$289M
annual revenue
legacy social casino
$190M
dn
tetris-branded mobile games
$38M
flat
brainium casual games
$46M
up
rewards and other
$15M
flat
The products that matter
real-world rewards platform
playAWARDS Loyalty Platform
19M players
It connects 19 million players to perks from partners like MGM and Royal Caribbean, which is the clearest thing separating these games from standard casino-app clones.
core differentiator
mobile slot and table games
Legacy Casino Portfolio
$235.1M company revenue
This portfolio carries most of the business, and the company still saw revenue fall 19% to $235.1M in 2025, which tells you the legacy base is under pressure.
shrinking base
licensed casual game
Tetris
part of the reset
Tetris gives Playstudios something outside pure social casino, but it sits inside a company that lost $28.6M last year, so new titles need to do more than add variety.
needs traction
Key numbers
11.4%
operating margin
Operating margin means profit after running the business but before interest and taxes. In plain English, each $100 of sales lost $11.40. So what: scale is not fixing the model yet.
$5M
long-term debt
Long-term debt means money owed beyond one year. In plain English, the balance sheet is not buried in borrowings. So what: the problem is weak earnings, not a debt choke chain.
7%
debt to capital
Debt to capital means how much of the company's funding stack comes from debt. In plain English, lenders are a small part of the pile. So what: financing risk is lower than operating risk.
$64M
market cap
Market cap means what the stock market says the whole company is worth. In plain English, you can buy the equity for less than one quarter of annual revenue. So what: the stock already prices in a lot of damage.
Financial health
B
strength
- balance sheet grade B — adequate — nothing special
- risk rank 3 — safer than 50% of stocks
- price stability 15 / 100
- long-term debt $5M (7% of capital)
B — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for MYPS right now.
source: institutional data · return history unavailable
What just happened
missed estimates
Quarterly revenue was $55.4M, and the company still posted a loss as the legacy portfolio stayed weak.
Zacks said Playstudios reported a Q4 2025 loss of $0.09 per share versus a consensus loss of $0.04. Management also said full-year 2025 revenue fell to $235.1M from $289.4M.
$55.4M
revenue
$0.09
eps
18.8%
q4 net margin
the number that mattered
The number that mattered was $55.4M in Q4 revenue because this business needs stable top-line support while it cuts costs and tries to claw back profitability.
source: company earnings report, 2026
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What could go wrong
The top risk is mobile-casino revenue continuing to fall faster than costs can be cut.
high
Revenue is still moving the wrong way
Full-year revenue fell to $235.1M from $289.4M. Trailing revenue is $247.48M, which says the slowdown is not isolated to one quarter.
If the top line keeps shrinking, the turnaround becomes a cash-management exercise instead of a growth plan.
high
There is no moat against larger gaming publishers
PlayAWARDS reaches 19 million players, but the company still posted a -15.1% profit margin. Competitors with more scale can spend more on content, marketing, and user acquisition.
That raises the odds Playstudios keeps paying to maintain players without ever getting the economics it needs.
med
The 27% workforce cut can save costs and still hurt the product
Management cut roughly 27% of employees from a base of about 530 people. That is a real operating reset, not a symbolic trim.
If product cadence slows or monetization tools weaken, cost savings can arrive with weaker player engagement.
med
Cash buys time, not immunity
The company had $106.3M in cash and only $5M in long-term debt. That is helpful. It does not make a -$28.6M loss disappear.
Another year that looks like 2025 would keep eating into the cash balance that makes this story investable at all.
A repeat of 2025 — $235.1M revenue and a $28.6M loss — would keep drawing down the $106.3M cash cushion.
source: institutional data · regulatory filings · risk analysis
Pay attention to
metric
cash versus losses
$106.3M in cash sounds comfortable until you place it next to a $28.6M annual loss. This is the balance that matters most.
calendar
Q1 2026 earnings report
Expected on May 11, 2026. You want to see whether cost cuts show up quickly without another ugly revenue step-down.
trend
does revenue stabilize above the latest quarter
Q4 revenue was $55.4M. If the next few quarters cannot hold around that level, the reset is still chasing a falling base.
risk
insider selling signals
A Form 144 was filed for a proposed sale of 20,490 shares. One filing is not a thesis, but for a tiny stock, behavior around the edges matters.
Analyst rankings
coverage
thin
in human-speak, there is not enough published ranking coverage here to outsource the thinking.
balance sheet risk
3
Safer than roughly half the market on balance sheet risk. The operating trend is still the real issue.
price stability
15 / 100
The stock moves like a speculative small cap because that is what it is.
source: institutional data
Institutional activity
institutional ownership data for MYPS is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$1
current price
n/a
target midpoint · n/a from current
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