PLAYSTUDIOS, Inc. (NASDAQ:MYPS) Q2 2022 Earnings Conference Call August 9, 2022 5:00 PM ET

Company Participants

Joel Agena - Vice President, Legal Counsel

Andrew Pascal - Co Founder, Chairman and Chief Executive Officer

Scott Peterson - Vice President, Chief Financial Officer

Conference Call Participants

William Saltonstall - Craig-Hallum

Operator

Good day, ladies and gentlemen. Thank you for standing by. Welcome to the PLAYSTUDIOS Second Quarter 2022 Earnings Conference Call. [Operator Instructions] Please note that this conference call is being recorded today, August 9, 2022.

I will now turn the call over to Joel Agena, Corporate Secretary and General Counsel. Please go ahead.

Joel Agena

Thank you, operator, and hello, everyone. By now, everyone should have access to our second quarter 2022 earnings release, which is available on the PLAYSTUDIOS website at www.playstudios.com in the Investors section. Some of management's comments today will be forward-looking statements about future events, expectations and projections. Forward-looking statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from what we expect.

You should exercise caution in interpreting and relying on them. We refer you to our SEC filings for a more detailed discussion of the risk factors that could impact future operating results and financial condition.

During the call, management will discuss non-GAAP measures, which we believe can be useful in evaluating the company's operating performance. These measures should not be considered in isolation or as a substitute for our financial results prepared in accordance with GAAP.

A reconciliation of these measures to the most directly comparable GAAP measure is available in our second quarter 2022 earnings release, on the www.playstudios.com website, and on our Form 8-K filed with the SEC today. Hosting the call today, we have Andrew Pascal, PLAYSTUDIOS' Chief Executive Officer; and Scott Peterson, Chief Financial Officer of the company. They will provide some opening remarks, and then we will open the call to questions.

With that, I'll turn the call over to Andrew.

Andrew Pascal

Thank you, Joel, and good afternoon, everyone. Welcome to the PLAYSTUDIOS' Second Quarter 2022 Earnings Call. The second quarter proved to be quite challenging as the overall economic backdrop is impacting the consumer games industry generally and our business more specifically. Before delving into our views of the current market, our outlook and the strategies and plans we're advancing, I'd like to highlight some key events from the quarter. We continue to advance our playAWARDS platform, adding new capabilities, new partners and new benefits to our myVIP program.