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theScore (TSXV:SCR) has announced its financial results for the three and 12 months ended August 31, 2017. As quoted in the press release: The Company posted quarterly revenue of $4.8 million compared to $5.0 million in the same period the previous year. This year-over-year decrease was primarily due to the absence of the major sporting events that took place …
theScore (TSXV:SCR) has announced its financial results for the three and 12 months ended August 31, 2017.
As quoted in the press release:
The Company posted quarterly revenue of $4.8 million compared to $5.0 million in the same period the previous year. This year-over-year decrease was primarily due to the absence of the major sporting events that took place in Q4 F2016, including the Rio Olympics and the 2016 UEFA EURO and Copa America soccer tournaments, which in turn lead to a decrease in programmatic sales.
Revenue for the 12 months ended August 31, 2017 was $26.3 million compared to $23.9 million for the same period the previous year.
Adjusted EBITDA loss for the three-month period ended August 31, 2017 was $1.9 million compared to $3.8 million in the same period in the prior year, an improvement of $1.9 million. Adjusted EBITDA loss for the year ended August 31, 2017 was $5.2 millioncompared to $12.4 million in the same period in the prior year, an improvement of $7.2 million. This was primarily the result of increased revenues and reduced operating expenses relating to personnel, content, and marketing.
During the three months ended August 31, 2017, theScore’s mobile applications had 3.7 million average monthly active users, compared to 4.0 million average monthly active users during the three months ended August 31, 2016. Average monthly user sessions of theScore’s mobile applications reached 261 million compared to 278 million for the three months ended August 31, 2016. As above, the year-over-year decrease in audience and engagement was primarily a result of the significantly quieter sports season during June-August 2017 compared with the same period in 2016.
“While audience and revenue this quarter reflected the much slower sports season compared to last year, we hit the start of fiscal 2018 running thanks to the successful launch of the biggest update to our flagship app in its history,” said John Levy, Founder and CEO of theScore.
