-- our reliance on key personnel, including our ability to retain the key
personnel of SuperPlay;
-- 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)
September 30, December 31,
2024 2023
(Unaudited)
ASSETS
Current assets
Cash and cash equivalents $ 1,145.9 $ 1,029.7
Short-term investments 55.8 --
Restricted cash 1.5 2.0
Accounts receivable 159.6 171.5
Prepaid expenses and other current
assets 107.3 147.9
---------- ---------
Total current assets 1,470.1 1,351.1
Property and equipment, net 108.8 119.9
Operating lease right-of-use assets 92.0 100.3
Intangible assets other than
goodwill, net 263.8 311.2
Goodwill 988.7 987.2
Deferred tax assets, net 100.4 99.3
Investments in unconsolidated
entities 19.1 54.4
Other non-current assets 146.2 151.6
---------- ---------
Total assets $ 3,189.1 $ 3,175.0
========== =========
LIABILITIES AND STOCKHOLDERS' EQUITY
(DEFICIT)
Current liabilities
Current maturities of long-term
debt $ 11.7 $ 16.8
Accounts payable 36.5 65.0
Operating lease liabilities,
current 19.0 19.5
Accrued expenses and other current
liabilities 384.9 438.3
---------- ---------
Total current liabilities 452.1 539.6
Long-term debt 2,391.2 2,399.6
Contingent consideration 23.5 20.8
Other long-term liabilities,
including employee related benefits 325.3 318.7
Operating lease liabilities,
long-term 78.3 88.2
Deferred tax liabilities 16.7 29.6
---------- ---------
Total liabilities 3,287.1 3,396.5
---------- ---------
Commitments and contingencies
Stockholders' equity (deficit)
Common stock of $0.01 par value;
1,600.0 shares authorized; 372.6
and 370.0 shares issued and
outstanding at September 30, 2024
and December 31, 2023,
respectively 4.1 4.1
Treasury stock at cost (51.8
shares at both September 30, 2024
and December 31, 2023) (603.5) (603.5)
Additional paid-in capital 1,334.7 1,264.9
Accumulated other comprehensive
income 7.0 20.6
Accumulated deficit (840.3) (907.6)
---------- ---------
Total stockholders' deficit (98.0) (221.5)
---------- ---------
Total liabilities and stockholders'
deficit $ 3,189.1 $ 3,175.0
========== =========
PLAYTIKA HOLDING CORP.
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(In millions, except for per share data)
(Unaudited)
Three months
ended September Nine months ended
30, September 30,
---------------- ----------------------
2024 2023 2024 2023
----- -------
Revenues $620.8 $630.1 $1,899.0 $1,929.1
Costs and expenses
Cost of revenue 168.1 173.9 513.3 537.9
Research and
development 99.2 102.2 306.7 304.9
Sales and
marketing 149.9 142.8 509.7 427.7
General and
administrative 76.8 79.6 196.7 225.7
Impairment charges 29.3 41.6 36.3 51.3
----- ----- ------- -------
Total costs and
expenses 523.3 540.1 1,562.7 1,547.5
----- ----- ------- -------
Income from
operations 97.5 90.0 336.3 381.6
Interest and
other, net 33.8 25.2 77.4 76.9
----- ----- ------- -------
Income before income
taxes 63.7 64.8 258.9 304.7
Provision for
income taxes 24.4 26.9 80.0 107.0
----- ----- ------- -------
Net income 39.3 37.9 178.9 197.7
----- ----- ------- -------
Other comprehensive
income (loss)
Foreign currency
translation 7.4 (4.1) 1.9 (1.2)
Change in fair
value of
derivatives (17.9) 1.1 (15.5) 8.1
----- ----- ------- -------
Total other
comprehensive
income (loss) (10.5) (3.0) (13.6) 6.9
----- ----- ------- -------
Comprehensive income $ 28.8 $ 34.9 $ 165.3 $ 204.6
===== ===== ======= =======
Net income per share
attributable to
common stockholders,
basic $ 0.11 $ 0.10 $ 0.48 $ 0.54
===== ===== ======= =======
Net income per share
attributable to
common stockholders,
diluted $ 0.11 $ 0.10 $ 0.48 $ 0.54
===== ===== ======= =======
Weighted-average
shares used in
computing net income
per share
attributable to
common stockholders,
basic 372.2 366.7 371.4 365.8
===== ===== ======= =======
Weighted-average
shares used in
computing net income
per share
attributable to
common stockholders,
diluted 372.5 367.6 371.7 366.3
===== ===== ======= =======
PLAYTIKA HOLDING CORP.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
(Unaudited)
Nine months ended
September 30,
2024 2023
Cash flows from operating activities $ 337.0 $ 336.3
------- ------
Cash flows from investing activities
Purchase of property and equipment (28.1) (16.8)
Capitalization of internal use software
costs (25.1) (27.8)
Purchase of software for internal use (15.5) (9.0)
Purchase of short-term investments (256.5) --
Proceeds from short-term investments 200.7 --
Payments for business combination, net of
cash acquired -- (160.6)
Other investing activities (1.0) (1.1)
------- ------
Net cash used in investing activities (125.5) (215.3)
------- ------
Cash flows from financing activities
Dividend paid (74.3) --
Repayments on bank borrowings (19.0) (9.5)
Payment of tax withholdings on stock-based
payments (2.1) (2.6)
Net cashout flow for business acquisitions (0.7) --
------- ------
Net cash used in financing activities (96.1) (12.1)
------- ------
Effect of exchange rate changes on cash and
cash equivalents and restricted cash 0.3 0.8
------- ------
Net change in cash, cash equivalents and
restricted cash 115.7 109.7
Cash, cash equivalents and restricted cash at
the beginning of the period 1,031.7 770.4
------- ------
(MORE TO FOLLOW) Dow Jones Newswires
November 07, 2024 06:35 ET (11:35 GMT)
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