Overactive Media (OAM) Q2 2025 earnings summary

Executive summary

• Q2 2025 revenue increased 26% year-over-year to $8.36 million, driven by strong growth in Events and Agencies and major event execution in Europe and North America.

• Operating expenses declined 14% to $5.17 million, reflecting disciplined cost control despite investments in rosters and production.

• Gross margin fell to 48% from 62% last year due to a shift toward lower-margin segments and event-heavy revenue mix.

• Adjusted EBITDA loss improved to $1.02 million from $1.23 million last year, reflecting lower restructuring and business development costs.

• Comprehensive loss was $1.49 million, compared to a prior-year gain that included a non-recurring $9.8 million franchise obligation benefit.

Financial highlights

• Q2 2025 revenue was $8.36 million, up 26% year-over-year; year-to-date revenue up 30% to $13.36 million.

• Gross profit for Q2 was $4 million (48% margin); first half gross profit was $6.68 million (50% margin), both down from prior-year periods.

• Operating expenses for Q2 were $5.17 million, down 14%; first half expenses were $10.09 million, down 12%.

• Adjusted EBITDA loss for Q2 was $1.02 million; for the first half, $3.29 million, slightly higher year-over-year due to increased payroll and lower high-margin revenue.

• Ended the quarter with $5.07 million in cash and positive working capital.

Outlook and guidance

• Higher-margin league-share and digital merchandise revenues are expected to increase in the second half, supporting margin expansion and profitability objectives.

• Adjusted EBITDA is expected to improve as revenue mix shifts toward higher-margin streams.

• Scaling ActiveVoices from pilot to launch, with clear success metrics for creators and regions.

• Focused on converting North American sponsorship pipeline and growing recurring revenue streams.

• Management remains focused on disciplined cost control and margin expansion.