PlayWay (PLW) Q1 2025 earnings summary

Executive summary

• Net revenue for Q1 2025 reached PLN 68.6m, up 2.5% year-over-year, with net profit at PLN 37.4m, down 20% year-over-year.

• EBITDA for Q1 2025 was PLN 43.7m, a decrease from PLN 47.9m in Q1 2024.

• Cash flow from operations was PLN 34.2m, with total cash and equivalents at PLN 136.2m at quarter-end.

• PlayWay acquired control over Space Boat Studios S.A., adding PLN 9.2m in goodwill.

• Key titles House Flipper and Car Mechanic Simulator contributed over 40% of sales.

Financial highlights

• Net revenue: PLN 68.6m (+2.5% y/y); Net profit: PLN 37.4m (-20% y/y); EBITDA: PLN 43.7m (-8.8% y/y).

• Operating profit: PLN 43.3m (down from PLN 47.5m y/y).

• EPS: PLN 4.73 (down from PLN 5.62 y/y).

• Cash flow from investing: PLN -21.1m; from financing: PLN -1.3m.

• Book value per share: PLN 79.96 (up from PLN 74.39 at year-end 2024).

Outlook and guidance

• Key external factors: FX volatility (USD/EUR), competitive game releases, inflationary pressures.

• Internal drivers: new game launches, market reception, and publisher contracts for major titles.