Playstudios (MYPS) Q2 2026 earnings summary

Executive summary

• Net revenue for Q2 2026 was $55.0M, down 7.3% year-over-year, with a net loss of $13.3M and a net loss margin of 24.1%.

• Six-month net revenue was $113.4M, down 7.1% year-over-year, with a net loss of $24.0M.

• Direct-to-consumer revenue surged 120% to $14.7M, now 34.4% of virtual currency revenue.

• The company implemented a major reorganization plan, reducing its global workforce by 27%, closing 4 of 9 studios, and incurring $9.4M in restructuring charges in the first half of 2026.

• Cost reduction and restructuring programs are ongoing, with significant annualized savings and further workforce reductions.

Financial highlights

• Q2 2026 net revenue: $55.0M (down from $59.3M in Q2 2025); six-month net revenue: $113.4M (down from $122.0M in 2025).

• Q2 2026 net loss: $13.3M (vs. $2.9M loss in Q2 2025); six-month net loss: $24.0M (vs. $5.8M loss in 2025).

• Adjusted EBITDA for Q2 2026 was $7.3M (13.3% margin, down 31.8% year-over-year); six-month Adjusted EBITDA was $10.9M (down 53.1%).

• Cash and cash equivalents at June 30, 2026: $102.7M.

• Direct-to-consumer revenue up 120% year-over-year.

Outlook and guidance

• Management expects continued investment in new games, features, and loyalty programs to drive future growth.

• No formal financial guidance provided due to legacy portfolio pressure and variability in new initiatives.

• Near-term focus is on completing restructuring, stabilizing the portfolio, and improving margins and cash flow.

• Existing cash and cash flow from operations are expected to fund operations and capital expenditures for at least the next 12 months.