PlaySide returns to profit as record MOUSE launch drives FY26 revenue past guidance
PlaySide Studios delivered $54.9m in revenue for FY26 (year ended 30 June 2026), beating its own $50–53m guidance and up 13% on the prior year’s $48.7m.
The result marked a decisive turnaround. The company swung to a $5.4m net profit after tax (NPAT), reversing the $12.1m loss recorded in FY25.
Earnings before interest, tax, depreciation and amortisation (EBITDA) reached $15.5m, compared with a $7.5m loss a year earlier. The standout driver was the launch of Original IP title MOUSE: P.I. For Hire.
For investors, a profit turnaround combined with a guidance beat represents a strong dual signal of operational execution.
When big ASX news breaks, our subscribers know first
FY26 financial results at a glance
The figures below set the FY26 performance against the prior corresponding period (pcp).
| Metric | FY26 | FY25 (pcp) | Change |
|---|---|---|---|
| Revenue | $54.9m | $48.7m | +13% |
| Original IP revenue | $34.7m | $16.7m | +108% |
| External Projects revenue | $20.2m | $32.0m | -37% |
| EBITDA | $15.5m | ($7.5m loss) | Return to positive |
| NPAT | $5.4m | ($12.1m loss) | Return to profit |
| Operating cash | $10.7m | ($7.3m outflow) | Return to positive |
| Cash at bank | $15.4m | $13.5m | +$1.9m |
On the capital side, the company reported the following balance sheet items:
-
$6.6m placement (before costs) and a $1.8m Share Purchase Plan, both priced at $0.20/share
-
A $6.0m debt facility secured against the $7.8m FY25 DGTO claim
MOUSE: P.I. For Hire delivers the biggest launch in company history
MOUSE: P.I. For Hire was described as the most successful game launch in PlaySide’s history, and it anchored the Original IP performance for the year.
The pre-launch wishlist demand was already signalling a strong result before the first unit sold, with more than 1.5 million wishlists accumulated by early April 2026 and weekly activity accelerating 60% in the final days before the 16 April digital launch.
Key launch metrics included:
-
Simultaneously launched on six different PC/Console platforms on 16 April 2026 (US time)
-
US$28m in gross sales during the period, recently surpassing 1m units sold
-
A 94% ‘Very Positive’ review score on Steam
-
Secured exclusive rights to the MOUSE sequel
The performance validates the company’s publishing model and establishes a franchise the business can build upon.
The 1 million units milestone was crossed in under three months from launch, with the Steam Summer Sale in late June acting as the primary catalyst and more than 3.17 million total wishlists across all platforms representing an unconverted audience that management expects to draw down through future sale events and paid DLC.
Benn Skender, PlaySide Studios CEO
“MOUSE: P.I. For Hire has been the standout of our year. There was clear demand for the title well before launch, and the team converted it with a polished, exceptionally well-reviewed game that has translated directly into strong sales and a franchise we can build on. That is a hard thing to get right in this industry, and it validates both the publishing model we have been building and the studios we choose to back.”
Why the Original IP shift matters for investors
PlaySide’s revenue splits into two categories. Original IP revenue comes from games the company owns and publishes itself, while External Projects revenue comes from development-for-hire work delivered on behalf of third parties such as Activision Blizzard, Meta, Netflix Games and Take-Two Interactive.
During FY26:
-
Original IP revenue rose 108% to $34.7m
-
30% of Original IP revenue was derived from the back catalogue, pointing to recurring value
-
External Projects revenue fell 37% to $20.2m
-
A global publishing agreement was signed with Swedish developer MVRX Games to publish the co-op adventure platformer Dew
Management characterised the External Projects decline as cyclical rather than structural. The cost base was aligned accordingly, while the Business Development team was expanded to position the company for a recovery in demand.
Cost discipline and a strengthened team
Alongside the revenue mix shift, the company undertook restructuring and made several positioning improvements.
-
$12m in annualised cost savings following the restructuring
-
Three additional Business Development personnel hired across the UAE and Europe
-
Colin Lai appointed as Chief Financial Officer and Company Secretary in March 2026
-
Several small External Projects awarded in recent weeks
A leaner cost base combined with a broader global sales footprint positions the company to be well positioned as demand recovers.
What’s next: Game of Thrones, Dumb Ways to Build and the pipeline
Several subsequent events and upcoming catalysts give investors a defined milestone calendar to watch.
-
The physical edition of MOUSE: P.I. For Hire launched at global retailers during July 2026
-
New External Projects work was awarded by Meta and Epic Games
-
The Game of Thrones: War for Westeros Official Gameplay Trailer is to be revealed during Opening Night Live at Gamescom on 25 August
-
Dumb Ways to Build is to be released on PC/Console on 10 September (US time)
Benn Skender, PlaySide Studios CEO
“We are excited to be sharing gameplay from Game of Thrones: War for Westeros in our current marketing campaign. Building anticipation over the coming months is a priority, and the team is focused on delivering the game that fans of real-time strategy and Game of Thrones have been waiting for. The launch of Dumb Ways to Build is only a few weeks away. It is a chaotic, fun co-operative experience and a fitting way to introduce the franchise to PC and console players – something we intend to keep building upon.”
Investor webinar details
Management will host an investor webinar at 10:30am on Thursday 20 August 2026, with a registration link provided via Zoom.
PlaySide is an ASX-listed Australian video game developer and publisher with a portfolio of approximately 60 titles across PC, console, mobile, virtual reality and mixed reality.
Don’t Miss the Next ASX Tech Winner
Big News Blast delivers FREE breaking ASX tech and entertainment news directly to your inbox within minutes of release, complete with in-depth analysis. Join 20,000+ subscribers already staying ahead of the market. Click the “Free Alerts” button at Big News Blast to get the next market-moving announcement the moment it drops.