Playside Studios Ltd (AU:PLY)
ASX:PLY
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Playside Studios Ltd
(Sydney:PLY)
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Rating:52Neutral
Price Target:
AU$0.26
▼(-24.86% Downside)
Action:ReiteratedDate:04/21/26
The score is held back primarily by weak financial performance, especially negative profitability and significant cash flow deterioration. Technicals are supportive with strong recent momentum, but overbought signals add near-term risk. Valuation looks attractive on a low P/E, partially offsetting the fundamental risks.
Positive Factors
Low Financial Leverage
A debt-to-equity ratio of 0.03 indicates minimal leverage and low fixed financing burden, improving resilience through revenue volatility. This structural strength preserves capacity to fund development, absorb project timing mismatches, and pursue strategic investments without heavy refinancing risk.
Negative Factors
Negative Profitability
Persistent negative EBIT and net margins indicate the company is not converting revenue into operating profits, limiting reinvestment and shareholder returns. Over months this undermines balance sheet cushions, forces cost cuts or financing, and challenges sustainable growth execution without margin improvement.
Read all positive and negative factors
Positive Factors
Negative Factors
Low Financial Leverage
A debt-to-equity ratio of 0.03 indicates minimal leverage and low fixed financing burden, improving resilience through revenue volatility. This structural strength preserves capacity to fund development, absorb project timing mismatches, and pursue strategic investments without heavy refinancing risk.
Read all positive factors
Playside Studios Ltd (PLY) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$118.00M
Dividend YieldN/A
Average Volume (3M)391.07K
Price to Earnings (P/E)3.5
Beta (1Y)2.30
Revenue Growth-28.64%
EPS GrowthN/A
CountryAU
Employees364
SectorCommunication Services
Sector Strength97
IndustryElectronic Gaming & Multimedia
Share Statistics
EPS (TTM)0.02
Shares Outstanding453,834,630
10 Day Avg. Volume548,253
30 Day Avg. Volume391,070
Financial Highlights & Ratios
PEG Ratio0.03
Price to Book (P/B)1.67
Price to Sales (P/S)1.35
P/FCF Ratio-2.91
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$0.52Price Target Upside48.57% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.02
Revenue Forecast (FY)AU$56.54M
Playside Studios Ltd Business Overview & Revenue Model
Company Description
PlaySide Studios Limited develops mobile, PC, and console video games in Australia. It provides titles in a range of categories, including self-published games based on original intellectual property and games developed in collaboration with studi...
How the Company Makes Money
Playside Studios primarily makes money through two main revenue streams: (1) Development services and co-development for external clients (work-for-hire), where it is paid fees/milestone payments to build or support games for publishers and brand ...
Playside Studios Ltd Financial Statement Overview
Summary
Income Statement
45
Neutral
Balance Sheet
55
Neutral
Cash Flow
30
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 40.62M | 48.70M | 64.64M | 38.45M | 29.24M | 10.88M |
| Gross Profit | 17.36M | 48.70M | 64.64M | 38.45M | 29.24M | 10.88M |
| EBITDA | -1.75M | -6.64M | 15.38M | -2.84M | 5.85M | -6.25M |
| Net Income | 1.16M | -12.11M | 11.31M | -6.97M | 4.85M | -5.88M |
Balance Sheet | ||||||
| Total Assets | 70.75M | 55.43M | 69.15M | 48.22M | 54.60M | 17.66M |
| Cash, Cash Equivalents and Short-Term Investments | 13.95M | 13.48M | 37.44M | 32.20M | 37.91M | 11.23M |
| Total Debt | 767.00K | 1.17M | 2.04M | 1.68M | 2.10M | 1.46M |
| Total Liabilities | 14.74M | 16.14M | 17.95M | 9.41M | 9.63M | 4.97M |
| Stockholders Equity | 56.01M | 39.29M | 51.19M | 38.81M | 44.97M | 12.70M |
Cash Flow | ||||||
| Free Cash Flow | -3.09M | -22.53M | 6.48M | -5.25M | 542.00K | -4.23M |
| Operating Cash Flow | -2.82M | -7.33M | 18.08M | -1.60M | 7.62M | -3.83M |
| Investing Cash Flow | -19.18M | -15.20M | -11.79M | -3.64M | -7.13M | -2.19M |
| Financing Cash Flow | 7.02M | -872.00K | -763.00K | -429.00K | 26.47M | 16.63M |
Playside Studios Ltd Technical Analysis
Positive
0.35
Price Trends
0.28
Positive
0.26
Positive
0.24
Positive
Market Momentum
0.01
Negative
72.01
Negative
82.46
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:PLY, the sentiment is Positive. The current price of 0.35 is above the 20-day moving average (MA) of 0.26, above the 50-day MA of 0.28, and above the 200-day MA of 0.24, indicating a bullish trend. The MACD of 0.01 indicates Negative momentum. The RSI at 72.01 is Negative, neither overbought nor oversold. The STOCH value of 82.46 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:PLY.
Playside Studios Ltd Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
64 Neutral | AU$15.20M | 5.09 | -1.65% | ― | -16.26% | ― | |
62 Neutral | AU$42.72M | 7.40 | 22.47% | ― | 15.19% | 14.29% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
55 Neutral | AU$218.06M | -30.79 | -69.45% | ― | -22.98% | 95.85% | |
52 Neutral | AU$118.00M | 3.48 | 2.43% | ― | -28.64% | ― | |
50 Neutral | AU$13.20M | 6.35 | -7.56% | ― | 516.43% | -1500.00% |
* Communication Services Sector Average
AU:PLY
Playside Studios Ltd
0.27
0.10
60.61%
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0.01
0.00
0.00%
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0.73
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0.01
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Playside Studios Ltd Corporate Events
PlaySide to Boost Free Float With Release of Escrowed Shares
Apr 23, 2026
PlaySide Studios has announced that 61,704,639 fully paid ordinary shares will be released from voluntary escrow on 5 May 2026. These shares are already quoted on the ASX and will become freely tradeable from their release, potentially increasing ...
PlaySide’s MOUSE: P.I. For Hire Debut Delivers Strong Sales and Cash Flow Boost
Apr 19, 2026
PlaySide Studios has reported a strong global digital launch for its new title, MOUSE: P.I. For Hire, released simultaneously on Steam, PlayStation 5, Xbox Series X|S and Nintendo Switch 2. Early performance metrics show an estimated 360,000 units...
PlaySide Studios Issues 919,756 Unquoted Performance Rights Under Incentive Scheme
Apr 14, 2026
PlaySide Studios Ltd has notified the market of the issue of 919,756 unquoted performance rights under its employee incentive scheme, effective 13 April 2026. The new securities, designated as PLYAD performance rights, are not intended to be quote...
Playside Swings to Profit on Cost Cuts and Tax Offset Despite Revenue Drop
Feb 23, 2026
Playside Studios reported first half FY26 revenue of $20.4 million, down 28% year on year, with external projects contributing $14.8 million and original IP $5.6 million amid a period with no new game launches. The decline reflects the absence of ...
PlaySide Swings to Profit as It Bets on MOUSE Launch and Leaner Cost Base
Feb 23, 2026
PlaySide Studios reported half-year revenue of $20.4 million, down 28% year-on-year, with external projects revenue declining 20% and original IP revenue falling 43%, yet profitability improved sharply to EBITDA of $9.5 million and NPAT of $7.9 mi...
PlaySide Studios lifts profit 249% despite revenue drop and lower asset backing
Feb 23, 2026
PlaySide Studios Limited reported half-year revenue of $20.4 million for the period ended 31 December 2025, a 28% decline from the prior corresponding period, highlighting softer top-line performance in its gaming operations. Despite the revenue d...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.