Company: LAWIL
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0000750004-25-000048
Chunk: 130

Company: Light & Wonder, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 130
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 = not meaningful.pp = percentage points.(1) Other primarily represents advertising revenue, which was not material for the periods presented.(2) MAU = Monthly Active Users is a count of visitors to our sites during a month. An individual who plays multiple games or from multiple devices may, in certain circumstances, be counted more than once. However, we use third-party data to limit the occurrence of multiple counting. (3) DAU = Daily Active Users is a count of visitors to our sites during a day. An individual who plays multiple games or from multiple devices may, in certain circumstances, be counted more than once. However, we use third-party data to limit the occurrence of multiple counting. (4) ARPDAU = Average Revenue Per DAU is calculated by dividing revenue for a period by the DAU for the period by the number of days for the period.(5) MPU = Monthly Paying Users is the number of individual users who made an in-game purchase during a particular month.(6) AMRPPU = Average Monthly Revenue Per Paying User is calculated by dividing average monthly revenue by average MPUs for the applicable time period.(7) Payer conversion rate is calculated by dividing average MPU for the period by the average MAU for the same period.

For the three and six months ended June 30, 2025, revenue decreased by 2% primarily due to a decline in average monthly payers, primarily attributable to Jackpot Party Casino and partially offset by an increase in average monthly revenue per paying user.

Average MAU and average MPU for the three and six months ended June 30, 2025 decreased due to the turnover in users. ARPDAU increased as a function of higher player monetization with a slight decrease in average DAU. AMRPPU increased, despite payer conversion decreasing slightly, as SciPlay continues to improve content and features, resulting in steady paying player interaction.

Payer conversion rates decreased slightly, but they remained near 10% due to consistent payer interaction with the games as a result of SciPlay’s focus on introducing new content, features and live events in games.

Operating Expenses and AEBITDA

The decrease in operating expenses for the three and six months ended June 30, 2025, as compared to prior year period, was primarily driven by lower salaries and benefits (including stock-based compensation) and lower cost of revenue due to higher margins on our direct-to-consumer platform revenue.

AEBITDA for the three and six months ended June 30,