Playtika Hits $1 Billion D2C Run Rate as Casual Games Climb to 74% of Revenue

Overview

• SuperPlay’s performance is powering the shift to casual, with Disney Solitaire scaling to about a $300 million annualized run rate.
• Q4 2025 revenue came in at $678.8 million with adjusted EBITDA up 9.5% year over year, and full-year revenue reached $2.76 billion.
• Direct-to-consumer revenue rose to $250.1 million in Q4, up 43.2% year over year, supporting an annual run rate of roughly $1 billion.
• A GAAP net loss of $309.3 million was driven primarily by a $394.1 million non-cash remeasurement of SuperPlay contingent consideration.
• 2026 revenue guidance is $2.7 billion to $2.8 billion, with Q1 margins expected to be temporarily lower due to front-loaded marketing for Disney Solitaire.