PlaySide Studios (ASX:PLY) turns corner in FY24, reports AUD 11mn profit

Mon 14 Oct 24, 05:45 AM | Team Kalkine

Image source: Shutterstock

Highlights

In FY24, PLY’s revenue increased by 68% YoY to over AUD 64 million, with 103% YoY rise in original IP revenue

PLY entered a multi-game license agreement with Warner Bros. Interactive in FY24 and signed a contract with Fumi Games

Multiple major PC/console titles are in development, set for launch from 2025 and beyond

PlaySide Studios Limited (ASX:PLY) is a video game developing and publishing company that manages a portfolio of nearly 60 titles. The company publishes its original IP and provides end-to-end game development services in collaboration with big companies.

In the financial year 2024 (FY24), PLY’s original IP revenue increased by 103% YoY to AUD 30.3 million and group revenue jumped 68% YoY to AUD 64.64 million. This financial year was a turnaround for the company as it achieved statutory net profit after tax of AUD 11.3 million, up from a loss of around AUD 7 million in FY23.

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