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PlaySide Studios Limited (ASX:PLY)

ALERT: Price-sensitive ASX Announcement for PLY
Current share price for PLY : $0.105 -0.13 (-55.32%)+
Announcement
Release
1 Jun 2026 9:53AM
Price at Release
$0.235
Full Release
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Summary
PlaySide Studios Limited announced that Meta Platforms Technologies, LLC will terminate the company's development contracts for the Horizon Worlds platform effective 31 July 2026. This decision, due to internal restructuring within Meta, is expected to impact PlaySide's revenue by approximately A$4 million in FY27, though FY26 revenue guidance remains unchanged. The company anticipates a cash balance of A$14-15 million by the end of June 2026. Despite this setback, PlaySide's development on other projects, such as the Game of Thrones game and MOUSE: P.I's post-launch roadmap, continues unaffected. PlaySide has initiated a consultancy process that could result in workforce redundancies as it seeks to realign its cost base. To mitigate the impact of the lost contracts, the company has expanded its Business Development team to fortify its international client reach and rebuild its external projects pipeline.
Key Points
  • PlaySide Studios Limited informed about Meta's termination of outsourced contracts.
  • Contracts related to Horizon Worlds social platform to end by 31 July 2026.
  • Expected revenue impact of A$4 million in FY27.
  • FY26 revenue guidance remains unchanged.
  • Cash balance expected to be A$14–15 million by 30 June 2026.
  • Development progress on Game of Thrones project unaffected.
  • Consultancy process underway that may lead to redundancies.
  • Company aims to realign cost base.
  • Efforts in place to rebuild external projects pipeline.
  • Business Development team expanded to enhance international client reach.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.