- OverActive Media (OAM) has released its consolidated interim financial statements for the second quarter of 2021
- Revenue increased by 71 per cent, resulting in 28 per cent higher adjusted EBITDA
- The company saw strong growth in sponsorship revenues as new partners came on board
- OverActive Media recently received approval to list on the TSXV
- OverActive Media is a global sports, media and entertainment company headquartered in Toronto
- OverActive Media Corp. (OAM) is currently down 1.21 per cent, trading at $1.63 per share
OverActive Media (OAM) has released its consolidated interim financial statements for the second quarter of 2021.
Revenue increased by 71 per cent, rising to $2.104 million compared to $1.227 million in Q2 2020. In 2020, Q2 revenue represented only 15 per cent of total fiscal revenue.
The company expects to see a similar seasonality pattern in the 2021 fiscal year.
Because of this strong revenue growth, the company also ended the quarter with adjusted EBITDA of $1.85 million, up 28 per cent year-over-year.
Chris Overholt, CEO of OverActive Media, commented on these strong results.
“We are delivering significant year-over-year revenue growth and generating a strong recurring revenue base from our sponsorship partners, who recognize the appeal of our team franchises to today’s generation of fans,” he said.
OverActive Media recently received approval to list on the TSXV and received over $23 million in a brokered subscription receipt.
The company saw strong growth in sponsorship revenues as new partners came on board, including TD Bank, Crave Meals, and Bud Light.
“We are making important strides on our plan to build the premier sports and entertainment venue in North America,” said Mr. Overholt, “offering state-of-the-art technology and one of the most unique fan experiences in the world.”
OverActive Media is a global sports, media and entertainment company headquartered in Toronto, with operations in Madrid and Berlin.
The company’s mandate is to build an integrated global company delivering sports, media, and entertainment products for today’s generation of fans.
OverActive Media Corp. (OAM) is currently down 1.21 per cent, trading at $1.63 per share as of 2:39 pm ET.