PLAYSTUDIOS, Inc.

Greetings and welcome to the Play Studios third quarter 2023 earnings call. At this time, all participants are on a listen only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance during a conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce Samir Jain, head of treasury and investor relations. Thank you. You may begin.

Thank you, operator. Good afternoon and thank you for joining us for Play Studio's third quarter 2023 earnings call. Joining me on the call today are our chairman and CEO, Andrew Paschal, and our CFO, Scott Peterson. Before we begin, let me remind you that during the course of this call, we will make forward-looking statements. These statements are based on our current expectations and beliefs and are subject to risk and uncertainties that could cause actual results to differ materially. Please refer to our SEC filings for discussion of the risks and uncertainties that may affect our future results. We will also discuss certain non-GAAP financial measures during this call. These measures should not be considered as a substitute for financial results prepared in accordance with GAAP. Our results are prepared in accordance with GAAP and a reconciliation to comparable GAAP measures will be provided in our third quarter earnings release and in our SEC filings. With that, I'll pass the call to Andrew.

Thank you, Samir, and welcome, everyone, to our third quarter 2023 earnings call. Earlier today, we published a press release containing our financial results along with commentary for the recently completed third quarter. As always, our release contains considerable financial disclosures as well as our thoughts on topics we believe are pertinent to our company. I hope you had a chance to read the release, and if not, I'd encourage you to do so. Rather than rehash what's contained there, Scott and I will spend a few minutes highlighting some key developments and save the majority of today's time for your questions. Adjusted EBITDA and, more importantly, EBITDA margins increased meaningfully versus year-ago results. A number of initiatives have contributed to this, including our focus on operating efficiency and a more diversified business model that now sees nearly 25% of our revenues coming from higher margin advertising sales. We believe there's still more opportunities to improve our cost structure and optimize productivity, which will further improve margin gains going forward. As we've discussed before, our margins are a bit leaner due to our ongoing investments in new products, our Play Awards platform, and other growth initiatives. However, it's our view that we can achieve margin parity with our peers as these efforts mature and contribute to our revenues. Our Play Games group continues to benefit from momentum in our growth portfolio, with DAU and ARPDAU increasing throughout the year. Player interest in Tetris remains high with many of the key performance metrics improving steadily. In addition to scaling our existing Tetris Prime product, we continue to advance the development of our new casual titles. With that said, I'm thrilled to share that we recently executed a new agreement with the Tetris company, extending our exclusive rights to this important intellectual property through at least August of 2029. With this renewed commitment, we can now confidently pursue a more comprehensive and long-term growth strategy for this beloved gaming franchise. We're also optimistic about other products in our growth portfolio where early tests of new features and capabilities have been promising. Most notable are the enhancements to some of our Brainium games, which have lifted our advertising revenues and contributed to our intranetwork cross-promotion, reaffirming our initial acquisition thesis. We plan to incorporate these changes along with our MyVIP program into the full collection of Brainium products throughout the remainder of this year and nearly part of 2024. In doing so, we expect the portfolio as a whole will generate higher revenues in the coming year. We also remain committed to creating and publishing new games. As a result, we'll further diversify our portfolio, expand our player network, and position the company for continued growth. Of course, crafting new games is more art than science, and as such, the timing and ultimate success of each is hard to predict. Having said that, I'm happy to share that we're making solid progress with our new game initiatives, and anticipate launching at least one new title within the next 6 to 12 months. The trends in our core portfolio remain consistent with the broader social casino industry. While we remain hopeful that the conditions will improve for the genre as a whole, we're undertaking numerous initiatives to drive organic growth, lift revenue, and continue to expand margins. At the top of the list are the games we transitioned to new operating teams as part of our restructuring back in March. As a reminder, the teams overseeing these games now include key product leaders from Popslots, our top performing social casino title. Given our experience, we continue to believe that both MyKanami and MyVegas can achieve meaningful improvements in payer conversion and spend per payer. Other initiatives focused on improving the performance of our core titles include enhancing our direct sales capabilities, new advertising products, and improved capabilities with incentivized cross promotions. Now turning to play awards, we continue to advance the technologies, program features, and benefits of our MyVIP program and underlying platform. We're also making strides in our plan to launch our loyalty as a service solution to external partners and continue to believe loyalty will be integral to the mobile gaming industry's future. We remain enthusiastic about the as-yet-untapped potential of this unique strategic asset and look forward to more fully realizing its value. Before I hand the call over to Scott to discuss our financials, I wanted to reaffirm our interest and focus on M&A. We continue to actively search for and qualify compelling opportunities that are in keeping with our overall strategy and expansion plans. We have a history of growth driven by both internally crafted games along with acquired game assets, and I expect it to continue into the foreseeable future. We've been thoughtful stewards of our capital, opportunistically accumulating our own stock while maintaining substantial cash reserves to enable strategic acquisitions. While the public markets will always be unpredictable, we'll remain focused on optimizing the returns for our shareholders. I'll now turn the call over to Scott to provide some additional comments. Scott?