PLAYSTUDIOS, Inc. (NASDAQ:MYPS) Q2 2024 Results Conference Call August 5, 2024 5:00 PM ET

Company Participants

Samir Jain - Head of IR and Treasury
Andrew Pascal - Chairman and CEO
Scott Peterson - CFO
Jason Hahn - EVP, Head of Corporate and Business Development

Conference Call Participants

Ryan Sigdahl - Craig-Hallum Capital Corp
Cory Carpenter - JP Morgan
Aaron Lee - Macquarie
Clark Lampen - BTIG
Martin Yang - Oppenheimer and Company
David Pang - Stifel
Greg Gibas - Northland Securities

Operator

Greetings, and welcome to the PLAYSTUDIOS Second Quarter 2024 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation [Operator Instructions]. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Samir Jain, Head of Investor Relations and Treasury. Thank you, sir. You may begin.

Samir Jain

Thank you, operator. Good afternoon. And thank you for joining us for PLAYSTUDIOS second quarter 2024 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. I would like to remind everyone that we'll 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. And welcome everyone to our second quarter 2024 earnings call. As always, our commentary today is in addition to the financial disclosures we made in our press release. I encourage you to take a look at the release for a summary of our recent performance. We were very active this quarter completing many of the strategic initiatives we've been discussing for some time. As such, I'd like to use my time today to discuss these efforts in greater detail and let Scott follow with a summary of the quarter and our 2024 outlook. I'd like to start by offering some general observations and thoughts. This call marks our three year anniversary since becoming a public company. When we made the transition, we shared our vision and plans for our future. We described our intention to expand our portfolio of games, scale our collection of players, enrich and more fully leverage our loyalty program and diversify with our business. While our path to achieving these goals has been a bit different than originally imagined, we stand here today having made meaningful progress. From 2021 to 2023, please consider. We've expanded our game portfolio from four social casino apps to a collection of 20 games across most of the popular casual categories. Among them is the beloved Tetris franchise, a game we acquired along with the exclusive mobile rights for up to eight more years. We've increased our daily active players or DAU nearly 230% from 1.5 million to 3.4 million players.