Mobile sports company achieves record quarterly revenue and user numbers
TORONTO, January 16 2014 – theScore, Inc. (TSX Venture: SCR) (“theScore”) today announced the financial results for the three months ended November 30, 2013 in accordance with International Financial Reporting Standards (“IFRS”).
FISCAL 2014 Q1 OPERATIONAL HIGHLIGHTS
- Average monthly active users of theScore’s mobile platforms reached 4.8 million in Q1 F2014, an increase of 48% compared to the same period in F2013. *
- Average monthly user sessions of theScore’s mobile platforms reached more than 191 million in Q1 F2014, an increase of 142% compared to the same period in F2013. *
- Released a fully optimized iOS 7 experience for theScore for iPhone and iPad, delivering even faster news, scores and stats along with a stylish new design.
- theScore for Android was updated with Breaking News Alerts, Top News and a revamped news offering, as well as delivering full tablet support.
“We’re off to a great start in 2014, with record quarterly revenue and a record number of sports fans using theScore to follow the leagues, teams and players they care about,” said John Levy, Chairman and CEO. “Our unflinching mobile-first approach, comprehensive coverage and deep personalization features has made theScore a regular part of sports fans’ daily lives, as our strong year-over-year growth in user sessions shows.”
FISCAL 2014 Q1 FINANCIAL RESULTS
theScore achieved record quarterly revenue of $2.1 million for the three months ended November 30, 2013, compared to $1.5 million for the same period in F2013, an increase of 41%.
EBITDA loss for the three months ended November 30, 2013 was $2.3 million compared to a loss of $2.1 million in the same period the previous year. The increase in expenses was due to increased marketing and promotional efforts during the period, and increased corporate and personnel costs, offset by lower technology costs as a result of efficiencies in relation to hosting and content management systems.
For more information:
Tel: 416.479.8812 ext. 2366
Email: [email protected]
Chief Financial Officer
Tel: 416.479.8812 ext. 2206
Email: [email protected]
About theScore Inc.
theScore creates mobile-first sports experiences, connecting fans to what they love through an addictive combination of real-time news, scores, fantasy information and alerts while creating and curating content that is mobile optimized, comprehensive, customizable and seamlessly shareable.
Forward-looking (safe harbour) statement
Statements made in this news release that relate to future plans, events or performances are forward-looking statements. Any statement containing words such as “may”, “would”, “could”, “will”, “believes”, “plans”, “anticipates”, “estimates”, “expects” or “intends” and other similar statements which are not historical facts contained in this release are forward-looking, and these statements involve risks and uncertainties and are based on current expectations. Such statements reflect theScore’s current views with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward looking statements, including among other things, those which are discussed under the heading “Risk Factors” in the Company’s Annual Information Form as filed with the TSX Venture Exchange and available on SEDAR at www.sedar.com and elsewhere in documents that theScore files from time to time with securities regulatory authorities. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results could differ materially from the expectations expressed in these forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as required by applicable law or regulatory requirements.
*User metrics from Q1 F2014 and Q1 F2013 exclude theScore’s secondary mobile sports application, SportsTap, which was retired September 30, 2013.