Ann: Investor Presentation, page-5

My deep dive this month is on them : https://goforgrowthco.substack.com/p/playside-plyasx

I'll include the summary here:

4 bullet Summary

• The bull view: Playside’s creative leadership continues to release unique and popular original IP. The work-for-hire segment grows in the background feeding cashflow, and the publishing division kicks-off nicely. These growing pillars lead to sustained growth in the 30% range for years to come.
• What the market is missing: Lumpy nature of the business can lead to dismissing a good strategy which continues paying off.Impressive track record of growth goes back to early days.Stronger industry tailwinds than most anticipate.
• Key risks: New dev tools means the large competitive landscape will continue to expand rapidly in the next 5-10 years. New entrants can enter the market more rapidly than ever before and release games faster than before. Some key client concentration on WFH side, and increased headcount cost risk in WFH business.
• Bear case: A unlucky streak of original IP games that don’t take off mean more write-offs. New segments may fail to scale quickly, and all this puts pressure on cash burn. All the while, new entrants benefit from the disruptions in the industry and the new tools, eating away at Playside’s market share.