Overactive Media (OAM) Q1 2025 earnings summary

Executive summary

• Q1 2025 revenue grew 37% year-over-year to CAD 5 million, driven by KOI and Movistar Riders acquisitions, strong league revenue share, sponsorship, and digital merchandise sales.

• Operating expenses decreased 8% to CAD 4.9 million due to disciplined SG&A controls and cost synergies from integrations.

• Comprehensive loss improved 55% to CAD 2 million, aided by higher revenue, cost management, and a CAD 1.7 million FX gain.

• Cash and cash equivalents were CAD 7.9 million at quarter-end, with net working capital of CAD 3.4 million.

• Integration of KOI and Riders, expansion into Latin America and China, and new digital initiatives support global growth.

Financial highlights

• Q1 2025 revenue was CAD 5 million, up from CAD 3.7 million in Q1 2024, reflecting acquisitions and event hosting.

• Gross profit was CAD 2.6 million (52% margin), down from 75% in Q1 2024 due to a shift to lower-margin revenue streams.

• Operating expenses totaled CAD 4.9 million, down from CAD 5.3 million in Q1 2024.

• Adjusted EBITDA loss was CAD 2.3 million, compared to a loss of CAD 1.8 million in Q1 2024, impacted by seasonality and acquisition costs.

• Comprehensive loss improved to CAD 2 million from CAD 4.5 million in Q1 2024, aided by a CAD 1.7 million foreign currency translation gain.

Outlook and guidance

• Sequential EBITDA improvement is expected in the second half of 2025, with a target of positive EBITDA by year-end.

• Focus remains on scaling digital and subscription verticals, maximizing audience monetization, and leveraging operating efficiencies.