PLAYSTUDIOS, Inc. Quarterly report [Sections 13 or 15(d)]

Quarterly report [Sections 13 or 15(d)]

INTANGIBLE ASSETS AND INTERNAL-USE SOFTWARE, NET

INTANGIBLE ASSETS AND INTERNAL-USE SOFTWARE, NET

9 Months Ended

Sep. 30, 2026

Intangible Asset, Goodwill and Other [Abstract]

INTANGIBLE ASSETS AND INTERNAL-USE SOFTWARE, NET

NOTE 9—INTANGIBLE ASSETS AND INTERNAL-USE SOFTWARE, NET

Intangible Assets

The following table provides the gross carrying value and accumulated amortization for each major class of intangible asset other than goodwill:


	September 30, 2026						December 31, 2025
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Amortizable intangible assets:
Licenses	$	84,070	$	(55,973)	$	28,097	$	83,820	$	(45,670)	$	38,150
Acquired technology	15,003		(12,483)		2,520		16,653		(11,088)		5,565
Customer relationships	12,000		(9,600)		2,400		12,000		(7,800)		4,200
Trade names	2,740		(1,840)		900		2,741		(1,728)		1,013
Internal-use software	207,571		(188,666)		18,905		204,254		(178,101)		26,153
Other	301		(34)		267		379		(30)		349
	321,685		(268,596)		53,089		319,847		(244,417)		75,430
Nonamortizable intangible assets:
Marketing Agreement with a related party	1,000		—		1,000		1,000		—		1,000
Total intangible assets	$	322,685	$	(268,596)	$	54,089	$	320,847	$	(244,417)	$	76,430

During the three months ended September 30, 2026 and 2025, intangible asset and internal-use software amortization was $8.6 million and $8.7 million, respectively. During the nine months ended September 30, 2026 and 2025, intangible asset and internal-use software amortization was $26.6 million and $25.7 million, respectively. The aggregate amortization expense for amortizable intangible assets and internal-use software is reflected in “Depreciation and amortization” in the Condensed Consolidated Statements of Operations.

During the three and nine months ended September 30, 2026, intangible assets impairment charges were $6.7 million and $6.7 million, respectively. These charges are reflected in “Restructuring and related” in the Condensed Consolidated Statements of Operations. The impairments were triggered by management's decision to cease operations of two products. As a result of these decisions, the Company determined that the carrying values of the associated long-lived asset groups were not recoverable. The Company concluded that the fair value of each asset group was zero because the assets have no alternative use and will generate no future cash flows, and the full carrying values were written off accordingly.

As of September 30, 2026, the estimated annual amortization expense is as follows:


	Projected Amortization Expense
Remaining 2026	$	7,994
2027	22,788
2028	14,279
2029	7,404
2030	167
Thereafter	457
Total	$	53,089