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theScore (TSXV:SCR) has announced its financial results for the three and nine months ended May 31, 2017. As quoted in the press release: Revenue for the quarter grew to $6.4 million compared to $6.1 million in the same period the previous year. Revenue for the first nine months of F2017 grew to $21.6 million versus $18.9 million for the same period in F2016. …
theScore (TSXV:SCR) has announced its financial results for the three and nine months ended May 31, 2017.
As quoted in the press release:
Revenue for the quarter grew to $6.4 million compared to $6.1 million in the same period the previous year. Revenue for the first nine months of F2017 grew to $21.6 million versus $18.9 million for the same period in F2016. Revenue growth was powered by theScore’s Canadian and US direct sales teams, as well as growth in engagement within theScore’s mobile apps.
Adjusted EBITDA loss for the three months ended May 31, 2017 was $1.5 million versus $3.0 million in the same period the previous year. A combination of an increase in revenue plus savings in expenses led to direct improvements in the Company’s profitability. Net and comprehensive loss for the three months ended May 31, 2017 was $2.9 million compared to $4.4 million in the same period the previous year.
Average monthly sessions of theScore’s mobile apps reached 379 million compared to 358 million for the same period the previous year, with users opening our apps an average of 92 times a month each. Average monthly active users of theScore’s mobile apps were 4.1 million versus 4.3 million in Q3 F2016.
“Our team is very much focused on the imminent roll-out of some significant new features for our flagship app as the start of football season draws closer,” said John Levy, Founder and CEO of theScore.
“We’ve already begun testing some of these with a small percentage of users and the early signs suggest we’ve got something that will further strengthen our position as the number one challenger app to ESPN in North America.
