PLAYSIDE STUDIOS LIMITED (PLY)
Share Price Analysis and Chart

14/10/2025

1

Buy, High Risk

$0.43

82.98%

Playside Studios has announced it has signed a 12-month extension on its existing work-for-hire contract with Meta, on work around the Horizon Worlds social platform.

Shaw and Partners notes the stock rallied 13% on the news, which is considered a de-risking event as well as providing further upside catalysts over the next 6-9 months. These include the launch of Mouse in 1H26 and trailers for Game of Thrones and Dumb Ways in FY26.

The analyst reiterates a Buy, High risk rating, with an unchanged target of 43c per share. No change to the earnings estimates.

FORECAST
Shaw and Partners forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -0.10 cents.
Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of 2.90 cents.

30/10/2025

1

Buy

$0.60

155.32%

Playside Studios announced a qualitative AGM update with the key announcement that Mouse P.I. for Hire will now launch in early 2026, delayed from prior 2025 expectations, Canaccord Genuity observes.

Revenue contribution from the title will shift into 2H26 and 1H27, but FY26 revenue guidance of more than $49m is reiterated with lower opex of -$48m, down -19% y/y.

The broker highlights a stronger balance sheet with pro-forma net cash of $21m supported by recent equity raises and upcoming tax rebates of more than $6m under the Digital Games Tax Offset.

External Projects are showing signs of recovery, with new AAA scoping work underway and the Meta Horizon Worlds contract extension expected to underpin FY26 revenue.

Buy rating retained with the target price raised to $0.60 from $0.50.

FORECAST
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -0.43 cents.
Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 1.30 cents.