PLY - PlaySide Studios

[System]

PlaySide Studios Limited was founded in 2011 and is one of Australia's largest independent video game developers, with titles across a range of categories including self-published games based on original intellectual property and games developed in collaboration with major Hollywood studios such as Disney, Warner Bros and Nickelodeon.

PlaySide is based in Melbourne, Australia and has a team of over 70 games creators and other staff. The Company's portfolio consists of 52 titles delivered across 4 platforms: Mobile, Virtual Reality (VR), Augmented Reality (AR) and PC.

Major titles based on PlaySide’s intellectual property include ‘Animal Warfare’, ‘Bits and Ropes’ franchise and ‘AR Dragon’, and the Company has participated in developing titles such as ‘The Lego Batman Movie Game’ (Warner Bros) and ‘Cars: Lightening League’ (Disney/Pixar).

PlaySide plans to drive growth through the release of original gaming titles, new work for hire agreements within its Brands and Licencing division, new partnerships and the emerging Esports market.

It is anticipated that PLY will list on the ASX during December 2020.

PlaySide Studios | AAA Game Developer | Melbourne, Australia.

PlaySide Studios Limited is Australia’s largest video game developer. It provides titles in a range of categories, including self-published games based on original intellectual property and games developed in collaboration with studios, such as Disney, Pixar, Warner Bros, and Nickelodeon.

www.playsidestudios.com

 

[Dona Ferentes]

so far, so good. IPO last Thursday at 20c a share, still holding up .... opened mid 30's and still 28c

Listing date	17 December 2020 11:00AM AEDT ##
Company contact details	https://www.playsidestudios.com/ +61 407 880 693
Principal Activities	The development of mobile games that are distributed and downloaded on Apple’s App Store and Google’s Play Store.
GICS industry group	TBA
Issue Price	$0.20
Issue Type	Ordinary Fully Paid Shares
Security code	PLY
Capital to be Raised	$15,000,000
Expected offer close date	7 December 2020
Underwriter	Not underwritten. Canaccord Genuity (Australia) Limited (Lead Manager)

 

[kinkypenguin]

Chosen PLY to be my top stock for 2021 in the stock tipping thread. Recent IPO and has gotten a lot of investor support since. The company has already done commission works with the likes of the Aus Government, Disney, Lego, and other notable brands. It’s own apps have done decently well, but I see most of its revenue in 2021 coming from more commission works with big names. I think that they have heaps of room for expansion with both their reputation and revenue in mobile gaming, but also as they’ve highlighted in the IPO prospectus, looking into VR and AR. With the current state of the world and the rapid growth of global digitisation (even more so due to covid), I can see them becoming a large player in 2021.

 

[verce]

Not much chatter here but some positive developments recently.

This has the potential to be huge. When you look at the hundreds of millions of US dollars that games like Candy Crush and Clash of Clans bring in - this looks very cheap indeed.

Not to mention the current overwhelmingly positive reviews on Steam for Age of Darkness.

Also a next generation Playstation 5 & Xbox game in the works from the looks of it.

Not really many ASX gaming developers you can invest in that are actually decent.

 

[verce]

Kotaku | Gaming Reviews, News, Tips and More.

Gaming Reviews, News, Tips and More.

www.kotaku.com.au

 

[greggles]

PLY continuing to outperform, more than doubling in the last month. Revenue continues to increase, as do staff numbers and releases. Am starting to wonder if it may be getting ahead of itself. Listed at 20c last December and over 90c today.

 

[Ann]

" Playside Studios (PLY) has closed a heavily oversubscribed $3 million share purchase plan (SPP)
The company’s strongly supported SPP received total subscriptions of just under $13 million, in addition to a successful $25 million placement
Funds raised will be used towards work-for-hire execution, a new studio location on the Gold Coast and metaverse and blockchain research and development
The SPP offer invited eligible shareholders to invest up to a maximum of $30,000 per shareholder at an issue price of 75 cents each
Company shares are up 1.8 per cent at 85 cents "

I find it interesting the price hasn't sunk to match the 75c.

PlaySide Studios (ASX:PLY) completes $3m share purchase plan

Playside Studios (ASX:PLY) has completed its heavily oversubscribed $3 million share purchase plan (SPP).

themarketherald.com.au

 

[Faramir]

I am picking PLY for Yearly 2022 Tipping because John Athanasiou, Red Leaf Securities chose it as a Buy in:

18 Share Tips – 20 December 2021

John Athanasiou, Red Leaf Securities BUY RECOMMENDATIONS Singular Health Group (SHG) Trade These Shares In our opinion, the metaverse will be the most exciting theme in 2022 and that’s why we’re bullish on SHG – one of the cheapest listed metaverse companies on the ASX. SHG recently released...

thebull.com.au

The Bull 20 Dec 2021 Buy Hold Sell. I know, I should have my own reason but I know nothing about PLY.

PLY is another favourite metaverse company of Red Leaf Securities. The video game developer has a growing client base. The company is at the forefront of blockchain gaming, and recently completed a $28 million capital raising, which enables it to pursue metaverse opportunities.

 

[Faramir]

Here is a chart:

 

[Dona Ferentes]

chart since listing - seems to have settled:

and some comment:

Chris Conway: Hello, and welcome to Livewire’s Buy Hold Sell. My name is Chris Conway, and today we are looking at five microcaps with big ambitions, and some of them may in fact already be leaders in their space. I am joined by Joel Fleming from Yarra Capital Management and Chris Stott from 1851 Capital. Thanks, gents, for being here.

Joel, we’ll stay with you on Playside Studios. These guys make video games for the likes of Disney and Warner. Is it a buy, hold, or sell?

Joel Fleming (HOLD): It’s a hold for me. I really like the industry. I like the split of business, and the people involved. But just like to see some more traction in the business model before becoming more positive.

Chris Conway: Chris, for you? Playside Studios, is it a buy, hold, or sell?

Chris Stott (HOLD): Hold, very similar to Joel. Interesting business. It’s well funded, with $30 million or so of net cash on the balance sheet. You suspect the earnings go backwards this year a little bit as they reinvest back into the business. So again, I’d like to see more runs on the board, as Joel mentioned there. So hold.

 

[So_Cynical]

Picked this in the yearly comp 24, gaming is just so big and this studio seems to have something, well funded anyway.

 

[Sean K]

Picked this in the yearly comp 24, gaming is just so big and this studio seems to have something, well funded anyway.

Good start. Interesting volume today. Any idea? Just a good quarterly maybe.

 

[UMike]

Interested..... Maybe missed the boat a bit.

 

[UMike]

Up 15% today.
Again...... Missed it by TFM

 

[Dona Ferentes]

Here is a chart:

here's another one

UNAUDITED 1HFY25 RESULT
- Revenue of $28.5m (pcp: $36.2m, -21%)
- Original IP revenue of $9.9m (pcp: $17.7m, -44%)
- The prior period included the receipt of fees relating to the signing of a major Dumb Ways to Die licensing agreement
- Work for Hire revenue of $18.6m (pcp: $18.5m)
- EBITDA loss of $2.8m (pcp: $12.2m profit)
- Higher average headcount than pcp on a lower revenue base
- Marketing initiatives of circa $3.5m (pcp: $0.1m) were expensed relating to major - Original IP projects which are currently in development and slated to launch from the December 2025 half onward
- Closing cash of $28.5m (FY24: $37.1m, pcp: $38.3m)

FY25 TRADING UPDATE
Management expects FY25 financial performance to be below the guidance provided to the market in October 2024, specifically:
Revenue of $50-54m (prev: $62-68m); consisting of:
- Original IP revenue of $17-18m
- WFH revenue of $33-36m
- EBITDA loss of $6-10m (prev: $0-5m profit)
- Closing cash balance of $10-15m (prev: $15-20m)

At the midpoint, the $13m reduction in expected revenue is explained as follows:
Work for Hire ($11m): While a number of small expansions and extensions to existing Work for Hire contracts were awarded during the December half, late stage negotiations with several counterparties regarding major new work have resulted in project decisions being deferred later into the 2025 calendar year. Original IP ($2m): Our Original IP title Kill Knight, while positively reviewed and holding one ofthe highest Metacritic scores of games released globally in 2024, performed below internal sales expectations at launch. Sales momentum has continued to pick up following a recent update to the game and a strong performance in Steam’s Winter Sale, however its performance is likely to land lower than management targets for FY25.
Notwithstanding a weaker than anticipated start, it is expected that the high Review Score the title has attained will result in solid ongoing sales over the medium-term and a positive return on investment over the lifetime of the title, as well as strengthen the studio’s reputation for game quality ahead of major forthcoming title launches.

 

[UMike]

Very disappointed with the forecast update being a Loss rather than a profit.

Not even in bottom picking territory at the moment.