Playmaker Capital Inc, a Toronto-based digital sports media company, has released its financial results for the second quarter ending June 30, 2021, disclosing sales of $3 million vs nil year-over-year returns.
The company also saw an increase in operating income, which came in at $0.4 million compared to a loss of $0.1 million in Q2 2020, and pro forma sales of $4.2 million, up 244 percent from $1.2 million in Q2 2020.
Pro forma revenue climbed by 152 percent to $7.6 million for the six months ending June 30, 2021, compared to $3 million the previous year.
In Q2, pro forma adjusted EBITDA was $1.6 million, up from $8,410 in Q2 2020. Pro forma adjusted EBITDA grew to $2.8 million for the six months ended June 30, 2021, up from $0.3 million in the same period of 2020. Pro forma revenue was $14.4 million and pro forma adjusted EBITDA was $6 million for the 12 months ending June 30, 2021.
At June 30, 2021, the company had $23.5 million in cash and cash equivalents, up from $6.6 million at December 31, 2020.
Focused on profitable growth
Jordan Gnat, the company’s founder and CEO, informed 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.”
On April 1, Playmaker purchased Futbol Sites, a digital sports media organisation in the United States and Latin America with a portfolio of more than 10 premium sites, and on July 26, it bought sports and media startup Yardbarker.
On a pro forma basis, the Futbol Sites and Yardbarker-owned and operated properties achieved record engagement metrics in the quarter. Playmaker has over 70 million unique users, who created over 454 million sessions in Q2 2021, a 65 percent growth over Q2 2020.