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TORONTO, January 23 2019 – theScore, Inc. (TSX Venture: SCR) (“theScore”) today announced the financial results for the three months ended November 30, 2018 in accordance with International Financial Reporting Standards (“IFRS”). All financial information in this press release is reported in Canadian dollars, unless otherwise indicated. 

Q1 F2019 Highlights

  • The Company achieved record quarterly EBITDA in Q1 F2019 of $1.0 million.
  • The Company achieved record quarterly revenue in Q1 F2019 of $9.5 million.
  • The Company grew average monthly user sessions to a new quarterly record of 469 million during Q1 F2019, with users opening theScore app an average of 111 times a month each.
  • In December the Company became the first media company in North America to announce plans for a mobile sportsbook in the United States, which the company anticipates will launch in New Jersey in mid-2019 subject to receipt of required regulatory approvals and licenses.
  • The Company’s esports’ video content achieved a new record of 40.3 million total views in Q1 F2019.

“Sports betting is a core focus this fiscal year and a huge opportunity for theScore,” said John Levy, Founder and CEO of theScore. “We’re excited to launch what we believe will be a unique and best-in-class mobile sportsbook in New Jersey in mid-2019.

“We’re uniquely positioned as a media company to succeed in sports betting. The record engagement achieved this quarter on our mobile app demonstrates the power of our audience, which spans every single U.S. state and indexes highly with sports betting enthusiasts.

“This is a big advantage, as is the rapid growth of mobile and in-game sports wagering, which aligns perfectly with the product expertise that has made theScore one of the most popular sports apps in North America.

“On top of this, we continue to create value across our Company, achieving record quarterly revenue and EBITDA while significantly growing our esports and social audiences. We look forward to further strengthening our reputation as a leader in digital sports media in 2019 and beyond.”

Financial Results
The Company achieved record EBITDA for Q1 F2019 of $1.0 million versus EBITDA of $0.5 million in Q1 F2018. The Company also achieved record revenue for Q1 F2019, which grew 13% to $9.5 million versus $8.4 million in Q1 F2018, and included record quarterly revenue for the Company’s Canadian direct sales business and strong year-over-year growth of U.S. programmatic revenue.

Audience Metrics
Total average monthly user sessions of theScore mobile app on iOS and Android reached a new quarterly record of 469 million in Q1 F2019, or 111 sessions-per-user per-month on a base of 4.2 million average monthly app users.

Total video views of theScore’s esports’ content were 40.3 million for Q1 F2019, representing year-over-year growth of 123%. Total watch minutes for theScore esports’ YouTube channel reached 296 million in Q1 F2019, growth of 867% year-over-year, with channel subscribers breaking past 500,000 during the period.

theScore’s content on its social channels reached approximately 67 million users per month in Q1 F2019, growth of 119% year-over-year, serving to further amplify theScore brand globally. This included a new monthly reach record of approximately 77 million in November.

Credit Facility
In December 2018 the Company entered into a $5 million demand credit facility with a Canadian chartered bank. The credit facility is available for working capital purposes and the amount available is based on a percentage of the Company’s accounts receivable and those of certain of its subsidiaries. The facility is secured by substantially all of the assets of the Company and certain of its subsidiaries. 

Stock Option Plan
theScore announced that the board of directors has granted 5,537,500 options to acquire Class A subordinate voting shares to employees of, and consultants to, the Company, including 1,700,000 options to directors and officers of the Company. Assuming the requisite shareholder approval is obtained, options will be granted to the following directors and officers: Norwest Video Inc. (600,000 options); Benjamin Levy (500,000 options); Ralph Lean (100,000 options); John Albright (100,000 options); Mark Scholes (100,000 options); Lorry Schneider (100,000 options); Thomson Associates Inc. (100,000 options), and Mark Zega (100,000 options). Each option will be exercisable for one Class A Subordinate Voting Share of theScore at an exercise price of $0.30 in accordance with the terms and conditions of the Company’s employee stock option plan.

Conference Call
theScore will host a conference call at 4:30pm ET on Wednesday, January 23 where management will review the Company’s Q1 F2019 results, followed by a Q&A session:

Conference Call Dial-In
Local: (+1) 647 689-5637
Toll Free North America: (+1) 877 396-4208

The conference call will also be webcast live. Register now here.

Instant Replay
Local: (+1) 416 621-4642
Toll Free North America: (+1) 800 585-8367
Playback Passcode: 7389200 # 

 

Annual General Meeting
theScore will be hosting its Annual General Meeting at 11:00am EST on Thursday, January 24, 2019 at the Company’s Toronto office at: 500 King Street West, Fourth Floor, Toronto, Ontario, M5V 1L9.

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For more information:
James Bigg
Sr. Manager, Communications
theScore, Inc.
Tel: 647.638.9281
Email: [email protected]

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

About theScore Inc.
theScore’s mission is to create highly-engaging digital products and content that empower the sports fan’s experience. Its flagship mobile app ‘theScore’ is one of the most popular multi-sport news and data apps in North America, serving millions of fans a month. The Company also creates innovative digital sports experiences through its web, social and esports platforms.

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 and Short-form Prospectus 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.

 

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– Company achieves positive EBITDA for first time in history

TORONTO, January 11 2018 – theScore, Inc. (TSX Venture: SCR) (“theScore”) today announced the financial results for the three months ended November 30, 2017 in accordance with International Financial Reporting Standards (“IFRS”).

In Q1 F2018 the Company achieved the first EBITDA positive quarter in its history. EBITDA was $0.5M, versus a loss of $0.4M for the same period the previous year.

“After previously forecasting that we would be EBITDA positive in F2018, we are very pleased to get this fiscal year off to a strong start, something which puts a solid foundation in place for the rest of the year,” said John Levy, CEO and Founder of theScore.

The Company achieved revenue of $8.4M for Q1 F2018 versus $8.5M for the same period the previous year. Increased US programmatic revenue and Canadian direct sales revenue was offset by lower direct sales in the US.

Average monthly active users of theScore app[*] for Q1 F2018 were 4.3M versus 4.4M for the same period the previous year, while average monthly app sessions-per-user were 103 versus 102 for Q1 F2017.

theScore app on iOS showed positive momentum this quarter, breaking new single-month user records in both October and November. For Q1 F2018, monthly active users of theScore app on iPhone and iPad were up by 6% for the same period the previous year. Monthly active users of theScore app on Android were down by 11% over the previous year.

“Following the launch of our newly designed flagship app at the end of Q4, we’ve seen some extremely encouraging growth on our iOS platforms, twice breaking records for users in a single month in Q1,” said Mr. Levy. “While the change in Android users is reflective of trends we’ve seen with other apps in the free sports category in Google Play over the past year, we believe a combination of product and marketing initiatives will enable us to tackle this platform-specific challenge head-on by improving both user acquisition and retention.

“Our priority now is building on this momentum through the continued improvement of our offering through ongoing experimentation and maintaining our regular bi-weekly release cycles to get updates into the hands of sports fans as quickly as possible.”

theScore’s esports team also reinforced its focus on the creation of original video content during Q1 F2018, doubling-down on the production of successful video franchises which regularly generate six-figure viewing figures across YouTube, Facebook and other social platforms. In Q1 F2018, theScore esports recorded a total of 18M video views, up from 3.5M for the same period the previous year.

theScore’s Emerging Platforms team continued to work on developing for new platforms and technologies to further amplify theScore brand and product offering. In Q1 F2018, theScore launched its Skill for Amazon Alexa across North America, continued to grow and improve its chatbot for Facebook Messenger and, only last week, launched the first-ever fantasy sports game for Facebook’s Instant Games platform on Messenger.

“We continue to be encouraged by the growth potential we’re seeing with our esports video and emerging platforms initiatives, with the recent launch of our pioneering fantasy sports game on Instant Games being a prime example,” said Mr. Levy. “This, combined with the strong reach of more than 30M people a month across our social platforms, enables us to focus on our core app business while also looking to the future to ensure theScore stays one step ahead of the ever-evolving demands of sports fans.”

theScore announced that, if the proposed amendments to its stock option plan are approved by shareholders at today’s annual and special meeting,  the board of directors intends to grant today 9,940,000 options to acquire Class A subordinate voting shares to employees of the Company, including 1,660,000 options to directors and officers of the Company.  Assuming the requisite shareholder approval is obtained, options will be granted to the following directors and officers: Norwest Video Inc. (600,000 options); Benjamin Levy (500,000 options); Ralph Lean (80,000 options); John Albright (80,000 options); Mark Scholes (80,000 options); Lorry Schneider (80,000 options); Thomson Associates Inc. (80,000 options), Mark Zega (80,000 options) and Kirstine Stewart (80,000 options). Each option will be exercisable for one Class A Subordinate Voting Share of theScore at an exercise price of $0.145 in accordance with the terms and conditions of the Company’s employee stock option plan.

theScore will be hosting a conference call at 8:30am EST on Thursday, January 11. Management will review the Company’s Q1 F2018 results, followed by a question and answer session.

Conference Call Dial-In Numbers
Toronto: (+1) 416 764 8688
Toll Free North America: (+1) 888 390 0546

Instant Replay
Toronto: (+1) 416 764 8677
Toll Free: North America (+1) 888 390 0541
Playback Passcode: 513838 #

The conference call will also be webcast live here.

 

For more information:
James Bigg
Sr. Manager, Communications
theScore, Inc.
Tel: 416.479.8812 ext. 2366
Email: [email protected]

Tom Hearne
Chief Financial Officer
theScore, Inc.
Tel: 416.479.8812 ext. 2206
Email: [email protected]

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

About theScore Inc.
theScore’s mission is to create highly-engaging digital products and content that empower the sports fan’s experience. Its flagship mobile app ‘theScore’ is one of the most popular multi-sport news and data apps in North America, serving millions of fans a month. The Company also creates innovative digital sports experiences through its web, social and esports platforms.

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 and Short-form Prospectus 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 for theScore app do not include audience or engagement numbers from theScore esports platforms, Squad Up, or products from its Emerging Platforms team, including theScore Bot for Facebook Messenger.

 

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theScore Featured Image

TORONTO, January 3 2018 – theScore, Inc. (TSX Venture: SCR) (“theScore”) plans to release its Q1 F2018 financial results on Thursday, January 11 at 7:00am EST.

The Company will also be hosting a conference call where Founder & Chief Executive Officer John Levy, President & Chief Operating Officer Benjie Levy and Chief Financial Officer Tom Hearne will review the Company’s results followed by a Q&A session.

The conference call is scheduled to begin at 8:30am EST on Thursday, January 11. To participate, please call into the conference approximately five minutes prior to it beginning.

Conference Call Dial-In Numbers
Toronto: (+1) 416 764 8688
Toll Free North America: (+1) 888 390 0546

Instant Replay
Toronto: (+1) 416 764 8677
Toll Free: North America (+1) 888 390 0541
Playback Passcode: 513838 #

The conference call will also be webcast live. Register now here.

theScore will also be hosting its Annual General Meeting at 11:00am EST on Thursday, January 11 at the Company’s Toronto office at: 500 King Street West, Fourth Floor, Toronto, Ontario, M5V 1L9.

For more information:
James Bigg
Sr. Manager, Communications
theScore, Inc.
Tel: 416.479.8812 ext. 2366
Email: [email protected]

Tom Hearne
Chief Financial Officer
theScore, Inc.
Tel: 416.479.8812 ext. 2206
Email: [email protected]

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

About theScore Inc.
theScore’s mission is to create highly-engaging digital products and content that empower the sports fan’s experience. Its flagship mobile app ‘theScore’ is one of the most popular multi-sport news and data apps in North America, serving millions of fans a month. The Company also creates innovative digital sports experiences through its web, social and esports platforms.

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 and Short-form Prospectus 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.

theScore Featured Image

TORONTO, January 12, 2017 – theScore, Inc. (TSX Venture: SCR) (“theScore”) today announced the financial results for the three months ended November 30, 2016 in accordance with International Financial Reporting Standards (“IFRS”).

Revenue for the quarter grew to $8.5 million compared to $7.0 million in the same period the previous year. Revenue growth was powered by theScore’s Canadian and US direct sales teams, as well as growth in engagement within theScore’s mobile apps.

EBITDA loss for the three months ended November 30, 2016 was $0.4 million versus $2.3 million in Q1 F2016. 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 November 30, 2016 was $0.8 million compared to $3.1 million in the same period the previous year.

Average monthly sessions of theScore’s mobile apps reached 459 million compared to 414 million for the same period the previous year, with users opening our apps an average of 98 times a month each, a new quarterly record. Average monthly active users of theScore’s mobile apps were 4.7 million versus 4.8 million in Q1 F2016.

“We again saw record levels of engagement across our mobile apps and also recorded our best ever quarter in terms of EBITDA,” said John Levy, Founder and CEO of theScore. “Our proficiency in driving engagement and revenue from our existing user base means we will be able to consistently improve profitability.

“Our priority now is focusing on audience growth, something we’ve been actively working on through an exciting new feature roadmap for our flagship app, while continuing to explore opportunities and strengthen our early foothold in new and exciting areas with high growth potential, like bots and esports.”

theScore will be hosting a conference call at 8:30am EST on Thursday, January 12. Management will review the Company’s Q1 F2017 results, followed by a question and answer session.

Conference Call Dial-In Numbers
Toronto: (+1) 416 764 8688
Toll Free North America: (+1) 888 390 0546

Instant Replay
Toronto: (+1) 416 764 8677
Toll Free: North America (+1) 888 390 0541
Playback Passcode: 943037 #

The conference call will also be webcast live here.

theScore will also be hosting its Annual General Meeting at 11:00am EST on Thursday, January 12 at the Company’s Toronto office at: 500 King Street West, Fourth Floor, Toronto, Ontario, M5V 1L9.
For more information:

James Bigg
Sr. Manager, Communications
theScore, Inc.
Tel: 416.479.8812 ext. 2366
Email: [email protected]

Tom Hearne
Chief Financial Officer
theScore, Inc.
Tel: 416.479.8812 ext. 2206
Email: [email protected]

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

About theScore Inc.
theScore, Inc. is an independent creator of mobile-first sports experiences, connecting fans to the sports content they love through an addictive combination of comprehensive and personalized real-time news, scores, stats, alerts and videos via emerging and established digital media platforms, including its mobile sports applications theScore and theScore esports, its web platforms theScore.com and thescoreesports.com and theScore Bot for Facebook Messenger and Kik Messenger.

Non-IFRS Financial Measures
In addition to disclosing results in accordance with IFRS as issued by the International Accounting Standards Board (“IASB”), theScore also provides supplementary non-IFRS financial measures as a method of evaluating the Company’s performance. theScore utilizes earnings before interest, taxes, depreciation and amortization (“EBITDA”) to measure operating performance. theScore’s definition of EBITDA excludes depreciation and amortization, finance income, income taxes, and acquisition costs which in theScore’s view do not adequately reflect its core operating results. EBITDA is used in the determination of short-term incentive compensation for all senior management personnel. EBITDA is not a measure of performance under IFRS and should not be considered in isolation or as a substitute for net and comprehensive income or loss prepared in accordance with IFRS or as a measure of operating performance or profitability. EBITDA does not have a standardized meaning prescribed by IFRS and is not necessarily comparable to similar measures presented by other companies.

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.

 

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theScore S Logo

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:

James Bigg
Manager, Communications
theScore, Inc.
Tel: 416.479.8812 ext. 2366
Email: [email protected]

Tom Hearne
Chief Financial Officer
theScore, Inc.
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.