OverActive Media Corp (TSXV:OAM)
C$ 0.26 0 (0%) Market Cap: 32.59 Mil Enterprise Value: 25.95 Mil PE Ratio: 0 PB Ratio: 0.60 GF Score: 40/100
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Q2 2024 Overactive Media Corp Earnings Call Transcript

Aug 22, 2024 / 01:00PM GMT
Release Date Price: C$0.19 (-15.56%)

Key Points

Positve
  • 71% increase in revenue relative to the same quarter in 2023.
  • 52% improvement in adjusted earnings driven by strong revenue growth and strategic cost management.
  • Successful acquisitions of Movistar Riders and KOI, enhancing market presence and financial performance.
  • Strong partnerships with leading esports publishers and tournament organizers, providing industry influence.
  • Significant expansion in strategic partnerships with global brands like Monster Energy and CUPRA.
Negative
  • 31% increase in operating expenses, primarily due to one-time integration expenses and ongoing operational costs.
  • Adjusted EBITDA still shows a loss of $1.2 million, despite improvements.
  • Ongoing discussions with Riot Games for a new model for the League of Legends esports ecosystem, indicating potential uncertainties.
  • Dependence on digital merchandise sales and sponsorships for revenue growth, which may be volatile.
  • High competition in the esports industry, requiring continuous innovation and investment.
Operator

Good morning, everyone, and welcome to OverActive Media's second-quarter conference call. (Operator Instructions) This conference call is being recorded, and a replay of today's call will be available on the Investor Relations section of OverActive Media's website. It will remain posted there for the next 30 days.

I will now hand the call over to Mr. Babak Pedram, Investor Relations for OverActive Media, for introductions and reading the Safe Harbor statement. Please go ahead, sir.

Babak Pedram
Overactive Media Corp - Investor Relations

Thank you, Joelle, and good morning to everyone. Welcome to OverActive Media's second-quarter 2024 earnings conference call. Copy of the company's earnings press release is available on the IR section of our website at overactivemedia.com.

With us on today's call are Adam Adamou, Chief Executive Officer; and Rikesh Shah, Chief Financial Officer. Today, we'll review the highlights and financial results for the second quarter 2024 and recent developments.

Unless otherwise specified, all amounts

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