Theatregoers and cast members of a gay drama on Sydney's north shore have had their tyres slashed in what police are treating as a potential hate crime.

Eight vehicles parked outside the Lane Cove Theatre Company's production of Holding the Man on Saturday night had their tyres punctured, NSW Police confirmed.

It is the second time the play - about two gay men living with HIV/AIDS - has been targeted this month, after posters were torn down around Lane Cove prior to opening night.

The theatre company's president, Lochie Beh, told the Herald it was a "ridiculous, cowardly act" that took place during what was supposed to be the show's final performance.