PLAYSTUDIOS, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

LEASES

LEASES

3 Months Ended

Mar. 31, 2024

NOTE 13—LEASES

The Company's operating leases primarily consist of real estate leases such as offices. During the quarter ended March 31, 2024 and 2023, operating lease expense was $1.2 million and $1.3 million, respectively. The Company does not have any finance leases. Total variable and short-term lease payments were immaterial for all periods presented.

Supplemental balance sheet information related to operating leases are as follows:


	March 31, 2024			December 31, 2023
Operating lease right-of-use assets, net	$	8,461		$	9,369
Operating lease liabilities, current	3,461			4,236
Operating lease liabilities, noncurrent	5,532			5,699
Operating lease liabilities, total	$	8,993		$	9,935

Weighted average remaining lease term, years	2.9			3.1
Weighted average discount rate	4.7		%	4.5		%

Operating lease liability maturities:


Year ending December 31,	Operating Leases
Remaining 2024	$	3,323
2025	2,429
2026	2,136
2027	1,366
2028	382
Thereafter	—
Total undiscounted cash flows	$	9,636
Less: imputed interest	$	(643)
Lease liabilities, total	$	8,993

As of March 31, 2024, the Company did not have material additional operating leases that have not yet commenced.