Digital sports media firm Playmaker Capital Inc has published its financial results for the third quarter and the nine months of 2021, reporting an increase in pro forma revenue.
Playmaker’s revenue for Q3 was $4.8m compared to $0 in Q3 2020, while its operating income was $1m compared to $0 in the previous year.
The firm’s pro forma revenue, including the results of Futbol Sites LLC, YB Media LLC (Yardbarker), and Two-Up Agency Ltd, was $5.6m in Q3 2021, an increase of 109% from $2.7m in Q3 2020. For the nine months of 2021, pro forma revenue was $13.8m, a 130% improvement from $6m in the prior year.
Pro forma adjusted EBITDA, including acquisitions through the end of the quarter, was $2.5m in Q3 2021, a 153% growth year-over-year (Q3 2020: $1m). For the nine months of 2021, pro forma adjusted EBITDA was $5.3m, a 294% YoY increase (2020: $1.3m).
Pro forma revenue, including the results of Futbol Sites, Yardbarker, Two-Up, The Nation Network (TNN), and Grupo SuperPoker on a pro forma basis, was $6.3m in Q3 2021, a 104% improvement YoY (Q3 2020: $3.1m). For the nine months of 2021, pro forma revenue grew by 118% to $15.7m (2020: $7.2m).
Pro forma adjusted EBITDA, including all acquisitions to date, was $2.6m in Q3 2021, an increase of 125% (Q3 2020: $1.2m). For the nine months of 2021, pro forma adjusted EBITDA increased to $5.8m, up 251% (2020: $1.7m).
Including all acquisitions to date, for the 12 months ended September 30, 2021, pro forma revenue was $20.6m, representing 85% organic growth over the previous 12-month period, and pro forma adjusted EBITDA was $8.2m.
Cash and cash equivalents were $13.4m as of September 30, 2021, compared to $6.6m on December 31, 2020.
Jordan Gnat, Founder and CEO of Playmaker, commented: “We are excited to share our results from the third quarter and the continuation of the progress that we have made since our Q2 earnings release in August.
“In Q3 we have begun to see the results of the execution of our roll-up strategy with the acquisitions of Yardbarker and Two-Up. We acquired two companies but at the same time focused on the organic growth of our existing portfolio of companies and on the realizable synergies between them.”
During Q3, Playmaker acquired US sports and entertainment media company Yardbarker and its daily email newsletter the Morning Bark; Two-Up Agency, a provider of technical solutions to the online gaming industry; and hockey-first digital media group TNN with its wholly-owned subsidiary, Daily Faceoff.
Earlier this month, Playmaker also acquired Brazilian media company SuperPoker, as well as the domain name, license rights, and the rights to the social accounts @VarskySports on Twitter, Instagram, and Facebook.
Gnat continued: “We are seeing strong momentum from all three levers of our growth engine – organic, acquisition, and synergies – and we will continue our efforts to maximize each one. We continue to build our pipeline, as evidenced by the recently announced acquisitions of VarksySports, SuperPoker, and The Nation Network.
“The integration of these companies is well underway, and we are thrilled with the level of collaboration between our companies and the shared vision of building a market-leading sports media business.”
On a pro forma basis, Playmaker achieved record engagement metrics in the quarter across the Futbol Sites, Yardbarker and TNN owned and operated properties.
The firm reaches more than 75m unique users monthly and in Q3 2021, the user base generated more than 442m sessions across its properties, representing a 70% increase over Q3 2020. The firm also reaches 365,000+ users via the Morning Bark.