Digital media and sports betting firm theScore has announced its financial results for the three and nine months ended May 31, 2019. Revenue for the three months ended May 31, 2019 was $8.5m compared to $7.2m for the same period last year, while revenue for the nine months ended May 31, 2019 was $24.7m versus $22.6m year-on-year. The firm cited strong performances from Canada and US sales as primary drivers of growth for the quarter.
EBITDA loss for the three months ended May 31, 2019 was $1.1m versus a loss of $45,000 for the same period last year. Increase in EBITDA loss was primarily the result of additional expenses relating to the ongoing development of theScore’s sports betting business. EBITDA loss for the nine months ended May 31, 2019 was $2.3m versus a loss of $29,000 in the same period last year.
The firm also updated investors on audience metrics, revealing that total average monthly active user sessions of theScore mobile app on iOS and Android reached 395 million in Q3 F2019, or 102 sessions-per-user-per-month on a base of 3.9 million average monthly app users. Content on its social channels achieved an average monthly reach of approximately 100 million in Q3 F2019, year-over-year growth of 161%, serving to further amplify theScore brand globally.
Total video views of theScore esports’ content reached a record 64 million for Q3 F2019, representing year-over-year growth of 188%. Total watch minutes for theScore esports’ YouTube channel were 332 million, growth of 170% year-over-year. An additional 125,000 YouTube subscribers were added during the period, with channel subscribers surpassing 820,000 earlier this month.
Founder and CEO John Levy used the update to talk about theScore’s planned mobile sportsbook. He said: “The great work in Q3 by our team and partners at Bet.Works means we’re right on schedule for the launch of what we believe will be a truly best-in-class mobile sportsbook, We can’t wait to show sports bettors in the US what we’ve been building – starting with New Jersey.
“theScore’s sportsbook will deliver a unique mobile betting experience that will be tightly integrated with our flagship app to create a powerful ecosystem by a brand already trusted by millions of sports fans. theScore is going all-in on sports betting, and our established position as a leader in mobile sports makes this an incredible opportunity.
“It was also a great quarter for our core business. Advertising revenue achieved a new Q3 record, while engagement on our media app and audience growth across our esports and social platforms was also extremely positive.”