Q4 2024 Overactive Media Corp Earnings Call Transcript
Key Points
- OverActive Media Corp (OAMCF) reported record Q4 revenue of CAD9.9 million, contributing to a full year revenue of CAD27 million, a 72% increase year over year.
- The company completed two strategic acquisitions, KOI and Movistar Riders, which were immediately accretive and exceeded expectations for revenue and adjusted EBITDA.
- OverActive Media Corp (OAMCF) expanded into new high-growth markets, including launching a Free Fire team in Mexico and expanding into China with localized content.
- The company signed significant commercial partnerships, including the first naming rights deal in LEC history with Telefonica, and renewed major partnerships with AMD, BA, and Scuff Gaming.
- The restructuring of the LEC franchise agreement eliminated future franchise obligations and secured full ownership of the slot, improving the balance sheet and strategic control.
- The gross margin for Q4 2024 declined to 54% from 80% in Q4 2023, primarily due to the integration of low-margin business lines.
- Operating costs for Q4 increased by 54% to CAD6.6 million, driven by additional staffing and infrastructure expenses related to acquisitions.
- The company reported an adjusted EBITDA loss of CAD554,000 for Q4 2024, although this was an improvement from the previous year.
- Comprehensive loss for Q4 was CAD1.3 million, mainly due to foreign currency translation, compared to a loss of CAD768,000 last year.
- The cash balance at the end of the year decreased to CAD6.8 million from CAD8.6 million in 2023, reflecting short-term obligations from acquisitions.
Good day everyone and welcome to Overactive Media's Fourth 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.
Thank you and good morning, everyone. Welcome to Overactive Media's Fourth quarter 2024 earnings conference call. A copy of the company's earnings press release is available on investor relations section of our website at www.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 Fourth quarter and
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