PLAYSTUDIOS, Inc. (NASDAQ:MYPS) Q2 2023 Earnings Conference Call August 3, 2023 12:00 PM ET

Company Participants

Samir Jain - Head of IR and Treasury

Andrew Pascal - Co-Founder, Chairman and CEO

Scott Peterson - VP and CFO

Conference Call Participants

Ryan Sigdahl - Craig Hallum Capital Group

David Karnovsky - JP Morgan

David Pang - Stifel

Greg Gibas - Northland Securities

Operator

Good afternoon everyone and welcome to the PLAYSTUDIOS Second Quarter 2023 Earnings Call. [Operator Instructions] As a reminder this conference is being recorded.

I will now turn the conference over to Samir Jain, Head of Investor Relations and Treasury. Mr. Jain you may begin.

Samir Jain

Thank you, operator. Good afternoon, and thank you for joining us for PLAYSTUDIOS second quarter 2023 earnings call. Joining me on the call today are our Chairman and CEO, Andrew Pascal; and our CFO, Scott Peterson. Before we begin, let me remind you that during the course of this call, we will make forward-looking statements. These statements are based on our current expectations and beliefs and are subject to risks and uncertainties that could cause actual results to differ materially. Please refer to our SEC filings for a discussion of the risks and uncertainties that may affect our future results.

We will also discuss certain non-GAAP financial measures during this call. These measures should not be considered as a substitute for financial results prepared in accordance with GAAP. Our results are prepared in accordance with GAAP and a reconciliation to comparable GAAP measures will be provided in our second quarter earnings release and in our SEC filings.

With that, I'll pass the call to Andrew.

Andrew Pascal

Thank you, Samir. Welcome to our second quarter 2023 earnings call. Earlier today, we published a press release containing our financial results and commentary for the Second Quarter of Fiscal Year 2023. As always, our release contains considerable financial disclosures and management thoughts on topics we believe are pertinent to our company. I hope you've had a chance to read the release, and if not, would encourage you to do so. Rather than rehash what is contained there, Scott and I will spend a few minutes highlighting key developments and save the majority of today's time for your questions.

We had another strong quarter topping analyst forecasts and showing material gains for most of our key metrics. Similar to last quarter, adjusted EBITDA margins expanded meaningfully year-over-year. As we've discussed before, reaching margin parity with our peers is a primary goal of ours, and something will continue to advance as we balance our focus on operational improvements with our ongoing investments in future growth.