# Playtika Holding Corp. (PLTK) Informational only - not investment advice. CIK: 0001828016 SIC: 7374 Services-Computer Processing & Data Preparation SIC breadcrumb: [Services](/division/I/) > [Business Services](/major-group/73/) > [SIC 7374 Services-Computer Processing & Data Preparation](/industry/7374/) Latest 10-K filed: 2026-02-26 SEC page: https://www.sec.gov/edgar/browse/?CIK=1828016 Filing source: https://www.sec.gov/Archives/edgar/data/1828016/000182801626000010/playtika-20251231.htm ## At a glance FY2025 · period end 2025-12-31 · filed 2026-02-26 · accession 0001828016-26-000010 · source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001828016.json | Metric | Value | FY | Provenance | | --- | ---: | ---: | --- | | Revenue | 2,755,400,000 USD | 2025 | verified | | Net income | -206,400,000 USD | 2025 | verified | | Assets | 3,718,900,000 USD | 2025 | verified | | Free cash flow | 531,400,000 USD | 2025 | computed | | Net margin | -7.49% | 2025 | computed | | Operating margin | -0.19% | 2025 | computed | | Revenue YoY | +8.08% | 2025 | computed | Stockholders' equity was not positive at FY2025 year-end (-411,400,000 USD, as filed); ROE and liabilities / equity are omitted rather than computed. Computed values are grepcent-computed from the verified facts above and may differ from ratios the company itself reports. Free cash flow = operating cash flow − capital expenditures. Net margin = net income ÷ revenue. Operating margin = operating income ÷ revenue. Revenue YoY = FY2025 revenue ÷ FY2024 revenue − 1 (consecutive fiscal years only). No market price, no rating, no forecast on this site. Not investment advice. ### Peer percentile fingerprint | Ratio | PLTK | Peer median | Percentile | N | | --- | ---: | ---: | ---: | ---: | | Net margin | -7.5% | 5.8% | 11 | 29 | | Operating margin | -0.2% | 7.7% | 7 | 28 | | Revenue growth | 8.1% | 10.0% | 41 | 30 | | FCF margin | 19.3% | 17.5% | 57 | 29 | | ROA | -5.6% | 5.0% | 7 | 30 | | Current ratio | 1.10 | 1.64 | 31 | 30 | Percentile = share of the N covered peers reporting that ratio whose value is lower (ties counted half); computed among grepcent-covered companies in SIC industry 7374 Services-Computer Processing & Data Preparation, not the whole market. A higher percentile means a higher value of the ratio, not a better company. Ratios with fewer than 8 reporting peers are omitted. Latest reported values per company; fiscal periods may differ. Descriptive arithmetic - not a score, rating, or ranking. ## Selected Fundamentals | Metric | Value | Unit | FY | Filed | | --- | ---: | --- | ---: | --- | | Revenue | 2755400000 | USD | 2025 | 2026-02-26 | | Net income | -206400000 | USD | 2025 | 2026-02-26 | | Assets | 3718900000 | USD | 2025 | 2026-02-26 | ## Financials Annual standardized facts from SEC companyfacts as of latest extracted filing date 2026-02-26. Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001828016.json. Derived margins, ratios, and free cash flow are computed from the extracted annual SEC facts. | Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | | Revenue | | 1,490,700,000 | 1,887,600,000 | 2,371,500,000 | 2,583,000,000 | 2,615,500,000 | 2,567,000,000 | 2,549,300,000 | 2,755,400,000 | | Net income | | 338,000,000 | 288,900,000 | 92,100,000 | 308,500,000 | 275,300,000 | 235,000,000 | 162,200,000 | -206,400,000 | | Operating income | | 432,600,000 | 497,400,000 | 387,200,000 | 562,200,000 | 471,400,000 | 501,600,000 | 391,600,000 | -5,100,000 | | Diluted EPS | | 0.89 | 0.76 | 0.24 | 0.75 | 0.69 | 0.64 | 0.44 | -0.55 | | Operating cash flow | | 452,800,000 | 491,900,000 | 517,700,000 | 551,700,000 | 493,700,000 | 515,600,000 | 490,100,000 | 567,700,000 | | Capital expenditures | | | 55,300,000 | 54,100,000 | 47,400,000 | 68,300,000 | 32,600,000 | 40,900,000 | 36,300,000 | | Dividends paid | | 400,000,000 | 2,365,900,000 | 0.00 | 0.00 | 0.00 | 0.00 | 111,500,000 | 150,200,000 | | Assets | | | 1,480,300,000 | 1,776,200,000 | 2,803,300,000 | 2,697,600,000 | 3,175,000,000 | 3,639,200,000 | 3,718,900,000 | | Liabilities | | | 3,095,800,000 | 3,019,700,000 | 3,181,000,000 | 3,266,200,000 | 3,396,500,000 | 3,770,300,000 | 4,130,300,000 | | Stockholders' equity | 526,400,000 | 464,700,000 | -1,615,500,000 | -1,243,500,000 | -377,700,000 | -568,600,000 | -221,500,000 | -131,100,000 | -411,400,000 | | Cash and cash equivalents | | | 266,800,000 | 520,100,000 | 1,017,000,000 | 768,700,000 | 1,029,700,000 | 565,800,000 | 684,200,000 | | Free cash flow | | | 436,600,000 | 463,600,000 | 504,300,000 | 425,400,000 | 483,000,000 | 449,200,000 | 531,400,000 | ### Ratios ROE and ROA use period-end equity/assets. Liabilities / equity uses total liabilities divided by stockholders' equity. Current ratio uses current assets divided by current liabilities when both are reported. | Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | | Net margin | | 22.67% | 15.31% | 3.88% | 11.94% | 10.53% | 9.15% | 6.36% | -7.49% | | Operating margin | | 29.02% | 26.35% | 16.33% | 21.77% | 18.02% | 19.54% | 15.36% | -0.19% | | Return on assets | | | 19.52% | 5.19% | 11.00% | 10.21% | 7.40% | 4.46% | -5.55% | | Current ratio | | | 0.86 | 1.18 | 2.34 | 2.22 | 2.50 | 1.56 | 1.10 | ## As-reported value updates 1 tracked difference above grepcent's stated thresholds were found between the earliest XBRL-filed value and the value currently on file for the same fiscal period. Ledger: /company/PLTK/revisions/ ## Quarterly Quarterly standardized facts from SEC companyfacts as of latest extracted filing date 2026-08-06. Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001828016.json. Flow metrics use discrete quarter-length periods from 10-Q/10-Q/A filings. Q4 revenue and net income are derived only when annual FY and nine-month YTD facts exist for the same fiscal year; derived Q4 values are labeled. EPS Q4 is not derived. | Quarter | End date | Revenue | Net income | Diluted EPS | Method | | --- | --- | ---: | ---: | ---: | --- | | 2022-Q3 | 2022-09-30 | | | 0.17 | reported discrete quarter | | 2023-Q1 | 2023-03-31 | | | 0.23 | reported discrete quarter | | 2023-Q2 | 2023-06-30 | | | 0.21 | reported discrete quarter | | 2023-Q3 | 2023-06-30 | | 75,700,000 | | reported discrete quarter | | 2023-Q3 | 2023-09-30 | 630,100,000 | | 0.10 | reported discrete quarter | | 2023-Q4 | 2023-12-31 | 637,900,000 | 37,300,000 | | derived Q4 = FY annual - nine-month YTD | | 2024-Q1 | 2024-03-31 | 651,200,000 | 53,000,000 | 0.14 | reported discrete quarter | | 2024-Q2 | 2024-03-31 | | 53,000,000 | | reported discrete quarter | | 2024-Q2 | 2024-06-30 | 627,000,000 | | 0.23 | reported discrete quarter | | 2024-Q3 | 2024-06-30 | | 86,600,000 | | reported discrete quarter | | 2024-Q3 | 2024-09-30 | 620,800,000 | | 0.11 | reported discrete quarter | | 2024-Q4 | 2024-12-31 | 650,300,000 | -16,700,000 | | derived Q4 = FY annual - nine-month YTD | | 2025-Q1 | 2025-03-31 | 706,000,000 | 30,600,000 | 0.08 | reported discrete quarter | | 2025-Q2 | 2025-03-31 | | 30,600,000 | | reported discrete quarter | | 2025-Q2 | 2025-06-30 | 696,000,000 | | 0.09 | reported discrete quarter | | 2025-Q3 | 2025-06-30 | | 33,200,000 | | reported discrete quarter | | 2025-Q3 | 2025-09-30 | 674,600,000 | | 0.11 | reported discrete quarter | | 2025-Q4 | 2025-12-31 | 678,800,000 | -309,300,000 | | derived Q4 = FY annual - nine-month YTD | | 2026-Q1 | 2026-03-31 | 744,700,000 | -57,500,000 | -0.15 | reported discrete quarter | | 2026-Q2 | 2026-03-31 | | -57,500,000 | | reported discrete quarter | | 2026-Q2 | 2026-06-30 | 731,100,000 | | 0.13 | reported discrete quarter | ## Filed narrative (10-K & 10-Q) ## Business Verbatim Item 1 Business section from PLTK's latest 10-K: [/company/PLTK/business/](/company/PLTK/business/). ## Risk Factors Verbatim Item 1A Risk Factors from PLTK's latest 10-K: [/company/PLTK/risk-factors/](/company/PLTK/risk-factors/). ## Latest quarter (10-Q) Latest 10-Q source: https://www.sec.gov/Archives/edgar/data/1828016/000182801626000047/playtika-20260630.htm Extracted structurally from real Item 2 body heading to real Item 3/4 boundary. Confidence: high Filing date: 2026-08-06 Report date: 2026-06-30 Item 2.        MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Overview We are one of the world’s leading developers of mobile games creating fun, innovative experiences that entertain and engage our users. We have built best-in-class live game operations services and proprietary technology tools to support our portfolio of games which enable us to drive strong user engagement and monetization. Our games are free-to-play, and we are experts in providing novel, curated in-game content and offers to our users, at optimal points in their game journeys. Our players love our games because they are fun, creative, engaging, and kept fresh through a release of new features that are customized for different player segments. As a result, we have retained paying users over long periods of time. Recent Events Since early 2026, the conflict involving Iran and Israel has remained highly volatile, with periodic exchanges of missile, drone, air, and maritime-related attacks, and with related hostilities involving Hezbollah in Lebanon, the Houthis in Yemen, and other Iran-aligned groups across the region. Recent reporting indicates that although diplomatic efforts and ceasefire-related discussions have continued, the situation remains fluid and fragile, and renewed escalation remains possible if a durable arrangement is not achieved. While this prolonged regional conflict has not had a direct material financial impact on the Company as of the date of this filing, the Company’s headquarters are located in Israel, and the Company employs approximately 1,195 professionals in Israel, including the majority of the Company’s senior leadership team. The Company continues to actively monitor developments in Israel, Iran, Lebanon, Yemen and the broader region, including the possible effects of renewed hostilities, security disruptions, maritime chokepoint risks, and related operational, supply chain, and personnel risks. Components of our Results of Operations Revenues We primarily derive revenue from the sale of virtual items associated with online games. We distribute our games to the end customer through various web and mobile platforms, such as Apple and Google and other web and mobile platforms plus our own Direct-to-Consumer (“DTC”) platforms. Through these platforms, users can download our free-to-play games and can purchase virtual items to enhance their game-playing experience. Players can purchase virtual items through various widely accepted payment methods offered in the games. Payments from players for virtual items are non-refundable and relate to non-cancellable contracts that specify our obligations and cannot be redeemed for cash nor exchanged for anything other than virtual items within our games. Our games are played on various third-party platforms, some of which allow customers to choose to make purchases through our DTC platform or through the third-party platform. If paid through the third-party platform, the platform providers collect proceeds from our customers and pay us an amount after deducting platform fees. For purchases made through both the third-party and DTC platforms, we are primarily responsible for fulfilling the virtual items, have the control over the content and functionality of games and have the discretion to establish the virtual items’ prices. Therefore, we are the principal and, accordingly, revenues are recorded on a gross basis. Payment processing fees paid to platform providers are recorded within cost of revenue. Cost of revenue Cost of revenue includes payment processing fees, royalties, customer support, hosting fees and depreciation and amortization expenses associated with assets directly involved in the generation of revenues, including servers and internal use software. Payment processing fees and other related expenses for in-app purchases made through our DTC platforms are typically 3-4%. If our players choose to pay through a third-party platform, platform providers (such as Apple and Google) -27- charge a transactional payment processing fee of 30% to accept payments from our players for such purchases. We generally expect cost of revenue to fluctuate proportionately with revenues. Research and development Research and development consists of salaries, bonuses, benefits, other compensation, including stock-based compensation and allocated overhead, related to engineering, research, and development. In addition, research and development expenses include depreciation and amortization expenses associated with assets associated with our research and development efforts. We expect that research and development expenses specifically associated with new game development will fluctuate over time. Sales and marketing Sales and marketing consists of costs related to advertising and user acquisition, including costs related to salaries, bonuses, benefits, and other compensation, including stock-based compensation and allocated overhead. In addition, sales and marketing expenses include depreciation and amortization expenses associated with assets related to our sales and marketing efforts. We plan to continue to invest in sales and marketing to retain and acquire users. However, sales and marketing expenses may fluctuate as a percentage of revenues depending on the timing and efficiency of our marketing efforts. General and administrative General and administrative expenses consist of salaries, bonuses, benefits, and other compensation, including stock-based compensation, for all our corporate support functional areas, including our senior leadership. In addition, general and administrative expenses include outsourced professional services such as consulting, legal and accounting services, taxes and dues, insurance premiums, and costs associated with maintaining our property and infrastructure. General and administrative expenses also include depreciation and amortization expenses associated with assets not directly attributable to any of the expense categories above. We also record adjustments to contingent consideration payable recorded after the acquisition date, and legal settlement expenses, as components of general and administrative expense. Interest and other, net Our interest expense includes interest incurred under our Credit Agreement and amortization of deferred financing costs. We expect to continue to incur interest expense under our Credit Agreement, although such interest expense will fluctuate based upon the underlying variable interest rates. We entered into multiple interest rate swap agreements in March 2021 and in January 2023, accumulating to a total notional amount of $1.0 billion, reducing our overall exposure to variable interest rates. Interest income consists of interest earned on cash, cash equivalents and short-term investments. Foreign currency translation adjustments, net, include gains and losses resulting from remeasurement of certain non-USD denominated balance sheet items. Provision for income taxes The provision for income taxes consists of current income taxes in the various jurisdictions where we are subject to taxation, primarily the United States, the United Kingdom, Israel, Germany, and Austria, as well as deferred income taxes reflecting the net tax effects of temporary differences between the carrying amounts of assets and liabilities in each of these jurisdictions for financial reporting purposes and the amounts used for income tax purposes. Under current U.S. tax law, the federal statutory tax rate applicable to corporations is 21%. Our effective tax rate can fluctuate based on various factors, including our financial results and the geographic mix to which they relate, the applicability of special tax regimes, changes in our business or operations, examination-related developments and uncertain tax positions, and changes in tax law. -28- Net Income We calculate net income as revenue minus cost of revenues, research and development, sales and marketing and general and administrative expenses, interest and taxes. Consolidated Operating Results of Playtika Holding Corp We measure the performance of our business by using several key financial metrics, including revenue and operating income, and operating metrics, including Daily Active Users, Average Revenue per Daily Active User, Paying Users, and Average Revenue per Paying User. These operating metrics help our management to understand and measure the engagement levels of our players, the size of our audience and our reach. See “Basis of Presentation” and “Summary Consolidated Financial and Other Data” for additional information of these measures. Daily Active Users We define Daily Active Users, or DAUs, as the number of individuals who played one of our games during a particular day on a particular platform. Under this metric, an individual who plays two different games on the same day is counted as two DAUs. Similarly, an individual who plays the same game on two different platforms (e.g., web and mobile) or on two different social networks on the same day would be counted as two DAUs. Average DAUs for a particular period is the average of the DAUs for each day during that period. We believe that Daily Active Users is a useful metric to measure the scale and usage of our game platform. Daily Paying Users We define Daily Paying Users, or DPUs, as the number of individuals who purchased, with real world currency, virtual currency or items in any of our games on a particular day. Under this metric, an individual who makes a purchase of virtual currency or items in two different games on the same day is counted as two DPUs. Similarly, an individual who makes a purchase of virtual currency or items in any of our games on two different platforms (e.g., web and mobile) or on two different social networks on the same day could be counted as two DPUs. Average DPUs for a particular period is the average of the DPUs for each day during that period. We believe that Daily Paying Users is a useful metric to measure game monetization. Daily Payer Conversion We define Daily Payer Conversion as the total number of DPUs divided by the number of DAUs on a particular day. Average Daily Payer Conversion for a particular period is the average of the Daily Payer Conversion rates for each day during that period. We believe that Daily Payer Conversion is a useful metric to describe the monetization of our users. Average Revenue per Daily Active User We define Average Revenue per Daily Active User, or ARPDAU, as (i) the total revenue in a given period, (ii) divided by the number of days in that period, (iii) divided by the average DAUs during the period. We believe that ARPDAU is a useful metric to describe monetization. Monthly Active Users We define Monthly Active Users, or MAUs, as the number of individuals who played one of our games during a calendar month on a particular platform. Under this metric, an individual who plays two different games in the same calendar month is counted as two MAUs. Similarly, an individual who plays the same game on two different platforms (e.g., web and mobile) or on two different social networks during the same month would be counted as two MAUs. Average MAUs for a particular period is the average of the MAUs for each month during that period. We believe that MAUs is a useful metric to measure the scale and reach of our platform, but we base our business decisions primarily on daily performance metrics, which we believe more accurately reflect user engagement with our games. -29- Results of Operations The table below shows the results of our key financial and operating metrics for the periods indicated. Unless otherwise indicated, financial metrics are presented in millions of U.S. Dollars, user statistics are presented in millions of users, and ARPDAU is presented in U.S. Dollars. [Excerpt truncated for page length; source filing is linked above.] ## Latest 10-K MD&A (excerpt) Latest 10-K Item 7 source: https://www.sec.gov/Archives/edgar/data/1828016/000182801626000010/playtika-20251231.htm Complete FY 2025 MD&A: /company/PLTK/mda/fy2025/ Extracted structurally from real Item 7 body heading to real Item 7A/8 boundary. Published MD&A gate trimmed front/tail over-capture. Confidence: high Filing date: 2026-02-26 Report date: 2025-12-31 ITEM 7.     MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS The following discussion and analysis should be read in conjunction with the consolidated financial statements and the related notes included elsewhere in this annual report on Form 10-K. This discussion and analysis contains forward-looking statements that involve certain risks and uncertainties. Our actual results could differ materially from those discussed in these statements. Factors that could cause or contribute to these differences include those discussed below and elsewhere in this annual report on Form 10-K, particularly under the “Risk Factors” and “Special Note Regarding Forward-Looking Statements” sections. Overview We are one of the world’s leading developers of mobile games creating fun, innovative experiences that entertain and engage our users. We have built best-in-class live game operations services and proprietary technology tools to support our portfolio of games which enable us to drive strong user engagement and monetization. Our games are free-to-play, and we are experts in providing novel, curated in-game content and offers to our users, at optimal points in their game journeys. Our players love our games because they are fun, creative, engaging, and kept fresh through a release of new features that are customized for different player segments. As a result, we have retained paying users over long periods of time. Key Factors Affecting Our Business There are a number of factors that affect the performance of our business, and the comparability of our results from period to period, including: •Conversion of players into paying users and ongoing monetization. While our games are free-to-play, we generate substantially all of our revenues from players’ purchases of in-game virtual items. Our financial performance is dependent, in part, on our ability to convert active players into paying players and sustainably grow user spend over the long term. Our players’ willingness to consistently make in-app purchases is impacted by our ability to deliver engaging content and personalized user experiences. •Acquisitions of games and new technology. We have grown and will continue to evaluate opportunities to further expand our business by acquiring games and game studios that have broad appeal and potential for scalable leadership in our core genres, enhance our growth profile, or that we believe can benefit from our live operations services, our design experience, and our scale. When we acquire games and studios, we focus on providing existing audiences with proven content and applying live operations to create a better game experience for users. •Offering of new games and release of new content, offers, and features. Our key revenue drivers include improving the content, offers, and features in our existing games and the acquisition of new games. In order to enhance the content, offers, and features in our existing games and to develop or acquire new games, we must invest a significant amount of our technological and creative resources, ensuring that we support an effective cadence of novel content creation that drives conversion and continued monetization. These expenditures generally occur months in advance of the release of new content or the launch or acquisition of a new game. •User acquisition. We believe that we will be able to continue to grow our user base, including through traditional marketing and advertising, informal marketing campaigns, and cross-promoting between our games, including new games we develop or acquire. We intend to continue to seek new opportunities to enhance and refine these marketing efforts to acquire new users, including identifying potential technologies to enhance our marketing and advertising capabilities. 69 Components of our Results of Operations Revenues We primarily derive revenue from the sale of virtual items associated with online games. We distribute our games to the end customer through various web and mobile platforms, such as Apple, Google and other web and mobile platforms plus our own Direct-to-Consumer platforms. Through these platforms, users can download our free-to-play games and can purchase virtual items to enhance their game-playing experience. Players can purchase virtual items through various widely accepted payment methods offered in the games. Payments from players for virtual items are non-refundable and relate to non-cancellable contracts that specify our obligations and cannot be redeemed for cash nor exchanged for anything other than virtual items within our games. Our games are played on various third-party platforms that allow customers to choose to make purchases through our Direct-to-Consumer platform or through the third-party platform. If paid through the third-part platform, the platform providers collect proceeds from our customers and pay us an amount after deducting platform fees. For purchases made through both the third-party and Direct-to-Consumer platforms, we are primarily responsible for fulfilling the virtual items, have the control over the content and functionality of games and have the discretion to establish the virtual items’ prices. Therefore, we are the principal and, accordingly revenues are recorded on a gross basis. Payment processing fees paid to platform providers are recorded within cost of revenue. Cost of revenue Cost of revenue includes payment processing fees, customer support, hosting fees, royalties and depreciation and amortization expenses associated with assets directly involved in the generation of revenues, including servers and internal use software. Payment processing fees and other related expenses for in-app purchases made through our Direct-to-Consumer platforms are typically 3-4%. If our players choose to pay through a third-party platform, platform providers (such as Apple and Google) charge a transactional payment processing fee of 30% to accept payments from our players for such purchases. We generally expect cost of revenue to fluctuate proportionately with revenues. Research and development Research and development consists of salaries, bonuses, benefits, other compensation, including stock-based compensation and allocated overhead, related to engineering, research, and development. In addition, research and development expenses include depreciation and amortization expenses associated with assets associated with our research and development efforts. We expect that research and development expenses specifically associated with new game development will fluctuate over time. Sales and marketing Sales and marketing consists of costs related to advertising and user acquisition, including costs related to salaries, bonuses, benefits, and other compensation, including stock-based compensation and allocated overhead. In addition, sales and marketing expenses include depreciation and amortization expenses associated with assets related to our sales and marketing efforts. We plan to continue to invest in sales and marketing to retain and acquire users. However, sales and marketing expenses may fluctuate as a percentage of revenues depending on the timing and efficiency of our marketing efforts. General and administrative General and administrative expenses consist of salaries, bonuses, benefits, and other compensation, including stock-based compensation, for all our corporate support functional areas, including our senior leadership. In addition, general and administrative expenses include outsourced professional services such as consulting, legal and accounting services, taxes and dues, insurance premiums, and costs associated with maintaining our property and infrastructure. General and administrative expenses also include depreciation and amortization expenses associated with assets not directly attributable to any of the 70 expense categories above. We also record adjustments to contingent consideration payable recorded after the acquisition date, and legal settlement expenses, as components of general and administrative expense. Impairment charges Impairment charges in 2025 reflect impairment of internal use software and an operating lease right-of-use asset, as well as the impairment of a certain investment in unconsolidated affiliate based upon poor performance of that investment leading to significant uncertainty regard its future viability. Impairment charges in 2024 reflect impairments related to the Redecor game title based upon lower than expected performance of that title, and related to certain investments in unconsolidated affiliates based upon poor performance of those investments leading to significant uncertainty regarding their future viability. We hold certain equity investments in various unconsolidated entities that fall within the scope of ASC 321, Investments - Equity Securities. As permitted within that guidance, we have elected to account for these investments at cost less impairment, adjusted for changes in fair value from observable transactions for identical or similar investments of the same issuer as of the respective transaction dates. Impairment charges in 2023 reflect charges recorded for the excess of the carrying amount over estimated fair value of our identifiable intangible assets. Interest and other, net Our interest expense includes interest incurred under our Credit Agreement and amortization of deferred financing costs. We expect to continue to incur interest expense under our Credit Agreement, although such interest expense will fluctuate based upon the underlying variable interest rates. We entered into multiple interest rate swap agreements in March 2021 and in January 2023, accumulating to a total notional value of $1.0 billion, reducing our overall exposure to variable interest rates. Interest income consists of interest earned on cash, cash equivalents and short-term investments. Foreign currency translation adjustments, net, include gains and losses resulting from remeasurement of certain non-USD denominated balance sheet items. Provision for income taxes The provision for income taxes consists of current income taxes in the various jurisdictions where we are subject to taxation, primarily the United States, the United Kingdom, Israel, Germany, and Austria, as well as deferred income taxes reflecting the net tax effects of temporary differences between the carrying amounts of assets and liabilities in each of these jurisdictions for financial reporting purposes and the amounts used for income tax purposes. Under current U.S. tax law, the federal statutory tax rate applicable to corporations is 21%. Our effective tax rate can fluctuate based on various factors, including our financial results and the geographic mix to which they relate, the applicability of special tax regimes, changes in our business or operations, examination-related developments and uncertain tax positions, and changes in tax law. Net income We calculate net income as revenue minus cost of revenues, research and development, sales and marketing, general and administrative expenses, interest and taxes. 71 Results of Operations The tables below show the results of our key financial and operating metrics for the periods indicated. We measure the performance of our business by using several key financial metrics, including revenue and operating income, and operating metrics, including Daily Active Users, Average Revenue per Daily Active User, Monthly Active Users, Daily Paying Users, and Average Daily Payer Conversion. These operating metrics help our management to understand and measure the engagement levels of our players, the size of our audience and our reach. See “Glossary of Terms” for additional information of these measures. [Excerpt truncated for page length; the complete text is on the linked full-MD&A page.] Read the full FY 2025 MD&A: /company/PLTK/mda/fy2025/ All MD&A years: /company/PLTK/mda/ ## MD&A history Prior-year 10-K MD&A spans are extracted from SEC filings with the same bounded parser used for the latest filing. Each year's full verbatim text is on its own sub-page. - [FY 2024 MD&A](/company/PLTK/mda/fy2024/): filed 2025-02-27; accession 0001828016-25-000011 (https://www.sec.gov/Archives/edgar/data/1828016/000182801625000011/playtika-20241231.htm) - [FY 2023 MD&A](/company/PLTK/mda/fy2023/): filed 2024-02-26; accession 0001828016-24-000006 (https://www.sec.gov/Archives/edgar/data/1828016/000182801624000006/playtika-20231231.htm) - [FY 2022 MD&A](/company/PLTK/mda/fy2022/): filed 2023-02-28; accession 0001828016-23-000011 (https://www.sec.gov/Archives/edgar/data/1828016/000182801623000011/playtika-20221231.htm) - [FY 2021 MD&A](/company/PLTK/mda/fy2021/): filed 2022-03-02; accession 0001828016-22-000016 (https://www.sec.gov/Archives/edgar/data/1828016/000182801622000016/playtika-20211231.htm) ## Macro cross-references Indicators mapped to this company's SIC classification (industry 7374 Services-Computer Processing & Data Preparation) by grepcent's deterministic macro-sector crosswalk. A navigational mapping, not a statistical or causal claim. - [PAYEMS](/indicator/PAYEMS/): All Employees, Total Nonfarm - [CES0500000003](/indicator/CES0500000003/): Average Hourly Earnings of All Employees, Total Private - [DGS10](/indicator/DGS10/): Market Yield on U.S. Treasury Securities at 10-Year Constant Maturity Macro-to-micro threads including this sector: [US labor market](/thread/us-labor-market/), [Growth & output](/thread/growth-output/), [Government finances](/thread/government-finances/), [Sector employment](/thread/sector-employment/). All macro indicators: /indicators/ ## For LLMs & downloads Markdown twin: /company/PLTK.md · JSON record: /company/PLTK.json · verified financials: /company/PLTK/financials.json / /company/PLTK/financials.csv · machine TOC for the whole site: /llms.txt