Q2 2026 Overactive Media Corp Earnings Call Transcript
Key Points
- Operating expenses decreased 17% in Q2 and 10% in the first half of 2026, reflecting successful cost management.
- Gross margin improved to 52% in the first half of 2026, up from 50% in the prior year.
- Net loss narrowed by 16% year-over-year for the six-month period, indicating improved financial performance.
- Partnership revenue grew year-over-year for Movistar KOI, and Toronto KOI secured a new partnership with Video Game Live Expo.
- Live events continue to be a strength, with Movistar KOI attracting around 12,000 fans to its spring road trip in Madrid.
- Total revenue decreased 22% in the first half of 2026 and 40% in Q2, driven by non-recurring events and the VCT exit.
- Gross margin in Q2 declined to 43% from 48% in the prior-year quarter, reflecting a lower revenue base.
- Adjusted EBITDA loss widened in Q2 to $2 million from $1 million in the prior year, due to reduced gross profit.
- Cash and cash equivalents fell to $2.2 million at June 30, 2026, from $5.1 million a year earlier.
- The company's financial statements include a material uncertainty paragraph related to the going concern assumption, highlighting liquidity risks.
Good day, everyone, and welcome to OverActive Media's second-quarter 2026 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 Kelly Haley, Senior Director of Global Operations at OverActive Media, for introductions and cautionary notes. Please go ahead.
Thanks, Mark, and good morning, everyone. Welcome to OverActive Media's second-quarter 2026 earnings conference call. A copy of the company's earnings press release, unaudited, condensed, consolidated interim financial statements and management's discussion and analysis for the three and six months ended June 30, 2026, are available on the Investor Relations section of our website at overactivemedia.com and under the company's profile on SEDAR+ at sedarplus.ca.
With us on today's call are Adam Adamou,
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