Playtika Keeps Independence After Strategic Review

The Tip Desk · November 11, 2026 · 2 min read

Third-quarter revenue was $673.8 million while Adjusted EBITDA reached a record $252.1 million as the board closed a review of alternatives.

Playtika Holding Corp. (PLTK) said its board has concluded a review of strategic alternatives and determined the mobile gaming company will continue to operate as an independent, publicly traded issuer, a path the board said best positions the company to create long-term value for shareholders.

The Herzliya-based free-to-play game publisher reported third-quarter revenue of $673.8 million for the three months ended September 30, 2026, down 7.8% from the prior quarter and 0.1% from a year earlier. Direct-to-consumer platforms revenue was $275.1 million, down 4.1% sequentially and up 31.4% year over year.

Profitability moved the other way. Adjusted EBITDA rose to a record $252.1 million, up 22.3% sequentially and 15.9% year over year, and the Adjusted EBITDA margin expanded to 37.4% from 28.2% in the second quarter. Chief Financial Officer Tae Lee said marketing stepped down as planned and that the company delivered that record Adjusted EBITDA alongside net income of $40.4 million and adjusted net income of $120.7 million. Adjusted net income margin was 17.9%, compared with 7.3% in the second quarter. GAAP net income was $40.4 million, or $0.11 a share, versus $39.1 million, or $0.11 a share, a year earlier.

Average daily paying users fell to 333,000, down 9.3% sequentially and 5.9% year over year. Average payer conversion rose to 4.7% from 4.6% in the second quarter and 4.3% a year earlier. Average daily active users were 7.1 million.

Bingo Blitz revenue was $133.0 million, down 8.3% sequentially and 18.2% year over year. Disney Solitaire revenue was $111.2 million, down 21.9% sequentially and up 88.4% year over year. June’s Journey revenue was $76.6 million, up 2.4% sequentially and 12.1% year over year. Chief Executive Officer Robert Antokol said SuperPlay continued to deliver strong year-over-year growth, with Disney Solitaire up 88%, and that June’s Journey grew double digits in its ninth year.

Cash, cash equivalents, and short-term investments totaled $594.6 million as of September 30, 2026. The company said it intends to build on that discipline by strengthening the balance sheet.

Playtika is reaffirming its full-year 2026 revenue range of $2.75 billion to $2.85 billion and Adjusted EBITDA range of $750 million to $790 million, and now expects to land around the midpoint of both ranges. That is a shift from the second-quarter outlook, when the company had said it currently expected full-year results to finish toward the lower end of both ranges based on a more cautious view of consumer spending and a planned step-down in second-half marketing.