The company exhibits structural operational impairment, evidenced by a negative operating margin of -14.8% in 2026Q1 and a 6.9% year-over-year revenue decline.
| Sales/Revenue | 230.8M | 235.1M | 289.43M | 310.89M | 290.31M | 287.42M | 269.88M | 239.42M | 195.5M |
| Revenue Growth % | -15.86% | -18.77% | -6.9% | 7.09% | 1.01% | 6.5% | 12.72% | 22.47% | - |
| Cost of Goods Sold | 63.57M | 95.83M | 72.72M | 77.8M | 85.4M | 91.64M | 91.47M | 80.27M | 66.78M |
| COGS % of Revenue | - | 40.76% | 25.12% | 25.03% | 29.42% | 31.88% | 33.89% | 33.53% | 34.16% |
| Gross Profit | 167.23M | 139.27M | 216.71M | 233.09M | 204.91M | 195.78M | 178.41M | 159.15M | 128.72M |
| Gross Margin % | 72.46% | 59.24% | 74.88% | 74.97% | 70.58% | 68.12% | 66.11% | 66.47% | 65.84% |
| Gross Profit Growth % | - | -35.74% | -7.02% | 13.75% | 4.66% | 9.73% | 12.1% | 23.65% | - |
| Operating Expenses | 196.23M | 159.71M | 249.58M | 243.57M | 232.99M | 198.77M | 168.06M | 142.02M | 122.64M |
| OpEx % of Revenue | - | 67.93% | 86.23% | 78.35% | 80.26% | 69.16% | 62.27% | 59.32% | 62.73% |
| Selling, General & Admin | 106.77M | 101.33M | 110.74M | 119.43M | 121.09M | 106.94M | 74.08M | 72.34M | 73.69M |
| SG&A % of Revenue | - | 43.1% | 38.26% | 38.42% | 41.71% | 37.21% | 27.45% | 30.22% | 37.69% |
| Research & Development | 59.43M | 58.38M | 67.68M | 70.3M | 63.31M | 61.34M | 51.7M | 60.09M | 43.27M |
| R&D % of Revenue | - | 24.83% | 23.39% | 22.61% | 21.81% | 21.34% | 19.16% | 25.1% | 22.13% |
| Other Operating Expenses | 3M | 0 | 71.15M | 53.84M | 48.58M | 30.48M | 42.28M | 9.59M | 0 |
| Operating Income | -29M | -20.44M | -32.86M | -10.49M | -28.08M | -2.99M | 10.35M | 17.14M | 8.61M |
| Operating Margin % | -12.57% | -8.69% | -11.35% | -3.37% | -9.67% | -1.04% | 3.83% | 7.16% | 4.41% |
| Operating Income Growth % | - | 37.8% | -213.38% | 62.65% | -839.16% | -128.89% | -39.61% | 98.97% | - |
| EBITDA | 9.56M | 17.92M | 12.58M | 34.77M | 7.48M | 24.41M | 32.54M | 21.19M | 11.76M |
| EBITDA Margin % | 4.14% | 7.62% | 4.35% | 11.18% | 2.58% | 8.49% | 12.06% | 8.85% | 6.01% |
| EBITDA Growth % | -0.45% | 42.49% | -63.83% | 364.8% | -69.35% | -24.99% | 53.56% | 80.21% | - |
| D&A (Non-Cash Add-back) | 38.56M | 38.36M | 45.44M | 45.26M | 35.56M | 27.4M | 22.19M | 4.05M | 3.15M |
| EBIT | -29.9M | -20.44M | -7.15M | -1.9M | -15.06M | 92K | 11.28M | 18.37M | 8.61M |
| Net Interest Income | 2.76M | 2.94M | 4.9M | 4.86M | 0 | -235K | -142K | -264K | 0 |
| Interest Income | 2.76M | 2.94M | 4.9M | 4.86M | 0 | 0 | 0 | 0 | 284K |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 235K | 142K | 264K | 0 |
| Other Income/Expense | -5.24M | -6.26M | 5.58M | 7.97M | 4.46M | 13.47M | 787K | 452K | -511K |
| Pretax Income | -34.23M | -26.7M | -27.29M | -2.52M | -23.62M | 10.48M | 11.14M | 17.59M | 5.79M |
| Pretax Margin % | -14.83% | -11.36% | -9.43% | -0.81% | -8.14% | 3.65% | 4.13% | 7.35% | 2.96% |
| Income Tax | 2.2M | 1.94M | 1.4M | 16.87M | -5.83M | -258K | -1.67M | 3.98M | 2.96M |
| Effective Tax Rate % | -6.43% | -7.26% | -5.13% | -669.56% | 24.71% | -2.46% | -15.01% | 22.6% | 51.23% |
| Net Income | -36.44M | -28.64M | -28.69M | -19.39M | -17.78M | 10.74M | 12.81M | 13.61M | 3.37M |
| Net Margin % | -15.79% | -12.18% | -9.91% | -6.24% | -6.13% | 3.74% | 4.75% | 5.69% | 1.72% |
| Net Income Growth % | -17.53% | 0.17% | -47.92% | -9.05% | -265.62% | -16.16% | -5.93% | 304.34% | - |
| Net Income (Continuing) | -36.44M | -28.64M | -28.69M | -19.39M | -17.78M | 10.74M | 12.81M | 13.61M | 2.82M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.29 | -0.23 | -0.22 | -0.15 | -0.14 | 0.09 | 0.10 | 0.11 | 0.01 |
| EPS Growth % | -14.14% | -4.55% | -46.67% | -7.14% | -255.56% | -10% | -9.09% | 708.82% | - |
| EPS (Basic) | - | -0.23 | -0.22 | -0.15 | -0.14 | 0.10 | 0.10 | 0.11 | 0.01 |
| Diluted Shares Outstanding | 127.66M | 125.68M | 129.44M | 132.98M | 128.35M | 124.9M | 125.75M | 125.75M | 248.18M |
| Basic Shares Outstanding | 127.66M | 125.68M | 129.44M | 132.98M | 128.35M | 111.72M | 125.75M | 125.75M | 240.35M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - |
Persistent Core Revenue Attrition
As indicated by the most recent quarterly filings, MYPS experienced a 6.9% year-over-year revenue decline, marking a continuation of the persistent downward trajectory that has seen top-line figures shrink from $77.8M in 2024Q1 to $58.4M in 2026Q1, reflecting significant challenges in sustaining its core social casino user base.
The consistent quarter-over-quarter revenue erosion suggests that the company's diversification efforts into casual gaming have failed to offset the structural decline in its legacy social casino titles. Investors should monitor whether this trend represents a permanent shift in consumer engagement or a temporary cyclical downturn exacerbated by the current mobile gaming environment.
Based on reported financial statements, the company's gross margin profile has exhibited notable instability, dropping from a peak of 76.4% in 2025Q3 to 62.5% in 2026Q1, which may imply rising platform fees or increased costs associated with maintaining the loyalty program's physical reward ecosystem.
The recent compression in gross margins suggests that the company is struggling to maintain pricing power within its transactional model. This volatility warrants further investigation into whether the cost of servicing physical rewards is becoming disproportionately expensive relative to the declining revenue generated by the digital gaming platform.
According to the income statement data, MYPS continues to struggle with operating leverage, as evidenced by a negative operating margin of -14.8% in 2026Q1, demonstrating that the company has been unable to scale its fixed cost base efficiently against a shrinking revenue stream over the last ten quarters.
The inability to achieve positive operating income despite significant R&D and SG&A expenditures suggests that the current business model may be over-indexed on fixed overhead. Without a meaningful reversal in revenue growth, the company appears to be trapped in a cycle where operating losses continue to erode shareholder value.
As reported in recent filings, the company's net income remains consistently negative, with a net margin of -18.3% in 2026Q1, highlighting that the reported EPS of -0.08 is driven by fundamental operational deficits rather than non-recurring accounting anomalies or significant stock-based compensation distortions in the most recent period.
The absence of significant stock-based compensation in the most recent quarter suggests that the reported net losses are a direct reflection of cash-based operational inefficiencies. Investors should be cautious, as the lack of profitability indicates that the company is currently reliant on its existing cash reserves to fund ongoing operations.
Based on the provided financial data, a critical challenge to the investment thesis is the company's inability to achieve profitability, with operating margins remaining negative for ten consecutive quarters, which may lead short-sellers to focus on the potential for further cash burn and eventual balance sheet impairment.
While the company maintains a conservative debt profile, the persistent operating losses raise questions about the long-term viability of the current loyalty-integrated gaming model. The market may be correctly pricing the company as a distressed asset if management cannot demonstrate a clear path to positive cash flow in the near term.
Quick answers to the most common questions about buying MYPS stock.
For fiscal year 2025, PLAYSTUDIOS, Inc. (MYPS) reported total revenue of $235.1M. This represents a 20.3% increase compared to $195.5M in 2018.
PLAYSTUDIOS, Inc. (MYPS) reported a net loss of $28.6M for the fiscal year ending 2025.
PLAYSTUDIOS, Inc. (MYPS) reported an operating income of $-20.4M, resulting in an operating profit margin of -8.7%. This margin reflects the operational efficiency of the business before interest and taxes.
PLAYSTUDIOS, Inc. (MYPS) generated $139.3M in gross profit for the year, representing a gross profit margin of 59.2%. This demonstrates the company's core pricing power and production efficiency.