Playmaker Capital Inc publishes buoyant set of Q2 financials

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Toronto-based digital sports media company Playmaker Capital Inc has posted its financial results for the second quarter ended June 30, 2021, revealing revenue of $3m versus nil returns year-on-year.

The firm also showed growth in operating income which came in at $0.4m compared to an operating loss of $0.1m in Q2 2020, while pro forma revenue was $4.2m, up 244% from $1.2m in Q2 2020.  

For the six months ended June 30, 2021, pro forma revenue increased by 152% to $7.6m versus $3m year-on-year. 

Pro forma adjusted EBITDA in Q2 was $1.6m, an increase from $8,410 in Q2 2020. For the six months ended June 30, 2021, pro forma adjusted EBITDA increased to $2.8m from $0.3m in the same period of 2020. For the 12 months ended June 30, 2021, pro forma revenue was $14.4m and pro forma adjusted EBITDA was $6m.

The company reported cash and cash equivalents of $23.5m at June 30, 2021 compared to $6.6m at December 31, 2020.

Founder and CEO Jordan Gnat told investors: “We are very excited to share our second quarter results. Our teams are hitting on all cylinders. The organic growth of our Futbol Sites business has been exceptional and in July we added Yardbarker, a company that has experienced very strong year-over-year growth to date. 

“Our pipeline remains robust and we have a strong balance sheet with currently over $13m of cash and zero debt. We remain focused on profitable growth, both organic and through acquisition.”

Playmaker acquired Futbol Sites, a digital sports media group in the US and Latin America with a portfolio of more than 10 premium sites, on April 1 this year, following that deal with the acquisition of sports and media firm Yardbarker on July 26.

On a pro forma basis, the company achieved record engagement metrics in the quarter across the Futbol Sites and Yardbarker-owned and operated properties. Playmaker reaches more than 70 million unique users and in Q2 2021, the user base generated more than 454 million sessions, representing a 65% increase over Q2 2020.