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TORONTO, October 19 2017 – theScore, Inc. (TSX Venture: SCR) (“theScore”) today announced the financial results for the three and 12 months ended August 31, 2017 in accordance with International Financial Reporting Standards (“IFRS”).

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 million compared 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.

“Early signs are promising. Our analytics shows that existing users are quickly adapting to, and enjoying, the big change, with our deeper and more dynamic content offering making us highly attractive to new audiences. This includes deeper coverage of teams, curated content from selected third-party sources, and news rivers rich in multimedia and trending content.

“This approach also more clearly aligns our app offering with what’s being shared and engaged with across our social platforms, including Facebook, Instagram, Twitter, and our chatbot for Facebook Messenger. We’re now reaching over 30 million people a month on social, further amplifying our brand.

“This approach of ensuring our app continually meets the evolving demands of our users, while also introducing theScore brand to millions of potential users and younger sports fans through our social content and on emerging platforms, will ensure we continue to lead the pack as a world class digital sports innovator.”

theScore will be hosting a conference call at 8:30am EST on Thursday, October 19. Management will review the Company’s Q4 F2017 and year-end 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: 400297 #

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.

 

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– F2016 revenue for mobile sports company up 94% year over year; app audience and engagement continues to grow

TORONTO, October 20, 2016 – theScore, Inc. (TSX Venture: SCR) (“theScore”) today announced the financial results for the three and 12 months ended August 31, 2016 in accordance with International Financial Reporting Standards (“IFRS”).

The Company posted quarterly revenue of $5.0 million compared to $2.9 million in the same period the previous year, an increase of 70%. Revenue for the 12 months ended August 31, 2016 was $23.9 million compared to $12.4 million for the same period the previous year, an increase of 94%.

Advertising revenue for the quarter grew 70%, while advertising revenue for the 12 months ended August 31, 2016 was up 105%. Revenue growth was powered by theScore’s US programmatic and Canadian direct sales businesses, driven in turn by growth in users and engagement within theScore’s mobile apps.

Users of theScore’s mobile applications[*] reached 4.0 million average monthly active users for the quarter, an increase of 9% over the same period in F2015. Average monthly user sessions of theScore’s mobile applications reached 278 million for the quarter, up by 32% compared to the same period in F2015.

“In just three years we have more than quadrupled our annual revenue, doubled in-app engagement, and firmly established theScore as a leader in mobile sports in North America,” said John Levy, Founder and CEO of theScore. “We’ve built-out a best-in-class team that’s committed to achieving audience, engagement and revenue growth across our mobile apps, while also expanding our brand presence across established – and emerging – digital platforms to ensure theScore is reaching sports fans wherever they are.

“We remain on track to deliver on our long-term vision of making theScore a profitable and self-sustaining business and we are excited by what the future holds.”

Adjusted EBITDA loss for the three and 12 months ended August 31, 2016 was $3.8 million and $12.4 million compared to $4.0 million and $10.7 million in the same period the previous year. Net and comprehensive loss for the three and 12 months ended August 31, 2016 was $5.2 million and $16.9 million compared to $4.6 million and $13.5 million in the same period the previous year.

The increase in the Adjusted EBITDA loss is a result of increased revenues offset by increased personnel and marketing costs associated with theScore’s continued investment in its esports and fantasy sports’ businesses.

theScore announced the grant of an aggregate of 4,112,500 options on October 19, 2016, including 1,580,000 options to directors and officers of the Company. Options were granted to the following directors and officers: Norwest Video Inc. (600,000 options); Benjamin Levy (300,000 options); Tom Hearne (200,000 options); Ralph Lean (60,000 options); John Albright (60,000 options); Mark Scholes (60,000 options); Lorry Schneider (60,000 options); William Thomson (60,000 options), Mark Zega (60,000 options) and Kirstine Stewart (120,000 options). Each option is exercisable for one Class A Subordinate Voting Share of theScore at an exercise price of $0.21, vests over three years and has a term of ten years. Each option is exercisable in accordance with the terms and conditions of the Company’s stock option plan.

theScore will be hosting a conference call at 8:30am EST on Thursday, October 20. Management will review the Company’s Q4 F2016 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: 573518 #

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, 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 its chatbot services 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, amortization and acquisition costs (“Adjusted EBITDA”) to measure operating performance. theScore’s definition of Adjusted 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. Adjusted EBITDA is used in the determination of short-term incentive compensation for all senior management personnel. The Company revised the non-GAAP measure in 2015 from EBITDA to adjusted EBITDA, as a result of the acquisition costs incurred related to Swoopt. Adjusted 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. Adjusted 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.

[*] User and user engagement metrics in the current and comparative periods excludes the following platforms no longer supported by theScore: (i) theScore app on BlackBerry 7, BlackBerry Playbook, Kindle Fire and Windows Phone 7; and (ii) theScore’s legacy soccer application, ScoreMobile FC.

 

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TORONTO, November 17, 2015 – theScore, Inc. (TSX Venture: SCR) (“theScore”) today announced the financial results for the three and twelve months ended August 31, 2015 in accordance with International Financial Reporting Standards (“IFRS”).

FISCAL 2015 Q4 USER METRICS AND REVENUE HIGHLIGHTS

  • Achieved revenue of $2.9 million in Q4 F2015, an increase of 63% compared to the same period in F2014.
    • Advertising revenue for Q4 F2015 also increased by 89% compared to the same period in F2014.
  • Audience for the Company’s mobile platforms reached a record 10.5 million average monthly active users in Q4 F2015, an increase of 21% compared to the same period in F2014.[*]
    • Mobile web users were 6.8 million, an increase of 32% over the same period in F2014.
    • Mobile app users were 3.7 million, an increase of 4% over the same period in F2014, and 21% after normalizing for the impact of the 2014 FIFA World Cup, which occurred in Q4 F2014.
    • Mobile app user engagement grew by 50% over the same period in F2014, with over 210 million average monthly user sessions in Q4 F2015.
  • Audience for the Company’s eSports platforms, which launched in March 2015, reached a milestone of more than 500,000 monthly active users for the first time in Q4 F2015.

“Our audience continues to grow and they’re coming back to us more often too, as our strong session growth demonstrates,” said John Levy, Founder and CEO of theScore.

“We’re forging a deeper connection between sports fans and our mobile products by creating powerful engagement that helped achieve strong revenue during a quarter that’s traditionally quieter in terms of major sports leagues and competitions.

“Combined with the first major user milestone for our eSports platform, the imminent re-launch of our fantasy sports offering as well as the huge strides we’re making in our mobile advertising business and theScore is perfectly placed to continue reinforcing our position as a true leader in mobile sports in F2016.”

FISCAL 2015 Q4 OPERATIONAL HIGHLIGHTS

  • User Accounts were launched for theScore app on iOS and Android, allowing users to save and synchronize their favorite leagues, teams and players across multiple devices. The functionality also allowed theScore to suggest teams to follow based on user location and what a user has ‘liked’ on Facebook when using social sign-in.
  • theScore eSports for iOS and Android was updated to include live scores and stats from Counter-Strike: Global Offensive tournaments, allowing fans of the first-person shooter to follow every kill, assist and round won from the biggest professional contests in the world in real-time.
  • theScore eSports partnered with major eSports tournaments including Dreamhack Summer, ESL One Cologne, and ESL’s CS:GO Pro League Finals, resulting in valuable exposure and brand awareness across multiple eSports.


FISCAL 2015 and Q4 FINANCIAL HIGHLIGHTS

Revenue for the year ended August 31, 2015 was $12.4 million compared to $7.8 million in the same period the previous year, an increase of 58%. Advertising revenue for the year ended August 31, 2015 was $11.7 million compared to $6.8 million in the same period the previous year, an increase of 71%.

Revenue for the three months ended August 31, 2015 was $2.9 million compared to $1.8 million in the same period the previous year, an increase of 63%. Advertising revenue for the three months ended August 31, 2015 was $2.9 million compared to $1.6 million in the same period the previous year, an increase of 89%.

Adjusted EBITDA loss for the year ended August 31, 2015 was $10.7 million compared to $8.4 million in the same period the previous year. Adjusted EBITDA loss for the three months ended August 31, 2015 was $4.0 million compared to an Adjusted EBITDA loss of $3.2 million in the same period the previous year.

Net and comprehensive loss for the year ended August 31, 2015 was $13.5 million compared to $10.7 million in the same period the previous year. Net and comprehensive loss for the three months ended August 31, 2015 was $4.6 million compared to $3.9 million in the same period the previous year.


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, amortization and acquisition costs (“Adjusted EBITDA”) to measure operating performance. theScore’s definition of Adjusted 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. Adjusted EBITDA is used in the determination of short-term incentive compensation for all senior management personnel. The Company revised the non-GAAP measure in 2015 from EBITDA to adjusted EBITDA, as a result of the acquisition costs incurred related to Swoopt.

Adjusted 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. Adjusted EBITDA does not have a standardized meaning prescribed by IFRS and is not necessarily comparable to similar measures presented by other companies.


STOCK OPTION GRANT

theScore announced the grant of an aggregate of 7,515,000 options on November 16, 2015, including 2,440,000 options to directors and officers of the Company. Options were granted to the following directors and officers: Norwest Video Inc. (1,200,000 options); Benjamin Levy (600,000 options); Tom Hearne (400,000 options); Ralph Lean (120,000 options); John Albright (120,000 options); Mark Scholes (120,000 options); Lorry Schneider (120,000 options); William Thomson (120,000 options); and Mark Zega (120,000 options). Each option is exercisable for one Class A Subordinate Voting Share of theScore at an exercise price of $0.31, vests over three years and has a term of ten years. Each option is exercisable in accordance with the terms and conditions of the Company’s stock option plan.

theScore will be hosting a conference call at 8:30am EST on Tuesday, November 17 where management will review the Company’s Q4 F2015 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: 296570 #

A live webcast of the call can be accessed by clicking 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]

About theScore Inc.
theScore, Inc. is an independent creator of mobile-first sports experiences, connecting fans to what they love through an addictive combination of comprehensive and personalized real-time news, scores, stats and alerts via its mobile sports platforms theScore and theScore eSports and fantasy sports contests via Swoopt.

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 and user engagement metrics in the current and comparative periods exclude the following platforms which are no longer supported by theScore: (i) theScore app on BlackBerry 7, BlackBerry Playbook, Kindle Fire and Windows Phone 7; and (ii) theScore’s legacy soccer application, ScoreMobile FC.

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TORONTO, November 16 2015 – theScore, Inc. (TSX Venture: SCR) (“theScore”), a leader in creating mobile sports experiences, plans to release its Q4 F2015 and year-end financial results on Tuesday, November 17 at 7:00am EST.

theScore 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 Fiscal 2015 Q4 and year-end results followed by a question and answer session.

The conference call is scheduled to begin at 8:30am EST on Tuesday, November 17. 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: 296570 #

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]

About theScore Inc.
theScore, Inc. is an independent creator of mobile-first sports experiences, connecting fans to what they love through an addictive combination of comprehensive and personalized real-time news, scores, stats, alerts and daily fantasy sports contests via its mobile sports platforms theScore, theScore eSports and Swoopt.

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.

– Mobile sports company releases fiscal 2014 fourth quarter and year-end results

TORONTO, October 15 2014 – theScore, Inc. (TSX Venture: SCR) (“theScore”) today announced the financial results for the three months and year ended August 31, 2014 in accordance with International Financial Reporting Standards (“IFRS”).

FISCAL 2014 Q4 OPERATIONAL HIGHLIGHTS

  • Average monthly active users of theScore’s mobile platforms reached a record 9.18 million in Q4 F2014, an increase of 151% compared to the same period in F2013.*

o   Average monthly active users of theScore’s mobile apps reached 4.04 million in Q4 F2014, an increase of 42% compared to the same period in F2013.

o   Average monthly active users of theScore’s mobile web platform reached 5.14 million in Q4 F2014, an increase of 527% compared to the same period in F2013.

  • Average monthly sessions of theScore’s mobile apps reached 151 million in Q4 F2014, an increase of 88% compared to the same period in F2013.*
  • Mobile advertising revenue for Q4 increased by 68%, compared to the same period the previous year.

“2014 further strengthened theScore’s position as a leader in mobile sports,” said John Levy, Chairman and CEO of theScore. “We grew our mobile user base to exciting new levels, powered by the core foundations that run throughout our company – a best-in-class engineering team and an industry-leading mobile-first newsroom.

“Our mobile app user numbers go from strength-to-strength as sports fans devour our powerful mix of personalized, real-time scores, stats, news and alerts. On top of that, we also achieved explosive growth in our mobile web traffic as we began to harness its true potential through our re-launched, responsive website and a newly assembled, full-time social media team. This served as another way to introduce theScore brand to millions of new sports fans all over the world.”

FISCAL 2014 OPERATIONAL HIGHLIGHTS

  • theScore closed its public offering and concurrent private placement of Class A Subordinate Voting Shares to raise aggregate gross proceeds of approximately $17,250,000. Proceeds were used to support development of the Company’s flagship mobile sports app ‘theScore’ and the expansion of sales and marketing efforts.
  • theScore launched ‘Feed’ on its iOS and Android apps – allowing users to create their own continuously updated stream of sports content, combining all the information on the leagues, teams and players the user is following in one place.
  • theScore worked with a number of globally recognized brands, including PUMA, Nike, Reebok, VW, NBC, HBO, Universal and Pepsi, to deliver customized, highly-engaging, mobile-first advertising and sponsorship campaigns.
  • theScore.com was re-launched, making it fully responsive and providing a great viewing experience for sports fans across a wide range of devices and screens, combined with all the news and data fans have come to expect from its flagship mobile app.
  • theScore was named an ‘Official Honoree’ in the category of ‘Sports: Handheld Devices’ in one of the digital world’s most prestigious awards, The Webby Awards.
  • theScore significantly enhanced its soccer coverage on its iOS and Android apps, offering news, scores and stats from all major English domestic league and cup competitions as well as those in Spain, Italy, Germany, France, Mexico, MLS and the UEFA Europa League and World Cup. 

FISCAL 2014 FINANCIAL RESULTS
Revenue for the year ended August 31, 2014 was $7.8 million, compared to $5.3 million the previous year, an increase of 47%. Revenue for the three months ended August 31, 2014 was $1.8 million compared to $1.3 million the previous year, an increase of 39%. Mobile advertising revenue for the year ended August 31, 2014 increased by 84% compared to the same period the previous year.

EBITDA loss for the year ending August 31, 2014 was $8.4 million compared to $8.3 million the previous year. Planned increases in personnel, marketing, facilities and administrative costs in the current year, combined with lower Ontario Interactive Digital Media Tax Credits recoverable recognized in F2014 versus F2013, offset the impact of higher revenues in F2014. EBITDA loss for the three months ended August 31, 2014 was $3.2 million compared to an EBITDA loss in the current year of $1.2 million in the same period the previous year, for the same reasons noted above.

STOCK OPTION GRANT
theScore announced the grant of an aggregate of 5,665,000 options on October 14, 2014, including 2,440,000 options to directors and officers of the Company. Options were granted to the following directors and officers: Norwest Video Inc. (1,200,000 options); Benjamin Levy (600,000 options); Tom Hearne (400,000 options); Ralph Lean (40,000 options); John Albright (40,000 options); Mark Scholes (40,000 options); Lorry Schneider (40,000 options); William Thomson (40,000 options); and Mark Zega (40,000 options). Each option is exercisable for one Class A Subordinate Voting Share of theScore at an exercise price of $0.29, vests over three years and has a term of ten years. Each option is exercisable in accordance with the terms and conditions of the Company’s stock option plan.

* User metrics from Q4 F2013 exclude theScore’s secondary mobile sports application, SportsTap, which was retired September 30, 2013.

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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. theScore is available on iOS, Android, BlackBerry and Windows Phone devices. 

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.

TORONTO, October 24 2013 – theScore, Inc. (TSX Venture: SCR) (“theScore”) today announced the financial results for the fourth quarter and the year ended August 31, 2013 in accordance with International Financial Reporting Standards (“IFRS”).

FISCAL 2013 OPERATIONAL HIGHLIGHTS

  • Average monthly active users of theScore’s mobile platforms reached 4 million across F2013, an increase of 15% compared to 3.5 million average monthly mobile active users in F2012
  • In August 2013, theScore announced a major update to its iOS app, transforming its news offering to provide a truly mobile-first, comprehensive, curated and real-time experience for sports fans.
  • theScore assembled a mobile-first newsroom, powered by an in-house, custom-designed Content Management System (CMS) that allows journalists to deliver mobile news quicker than ever.
  • In May 2013, theScore announced the closing of a $16 million private placement financing, allowing the Company to accelerate the development and marketing of its mobile sports apps.
  • In January 2013, theScore re-launched its popular app for Android based on the functionality of theScore’s critically acclaimed iOS app, including a completely re-designed interface.
  • In October 2012, theScore closed a plan of arrangement, pursuant to which Rogers Media Inc. acquired the television business of Score Media Inc., and the digital media business of Score Media was spun out to its shareholders

“This has been a great inaugural year for theScore as an independent mobile sports company,” said John Levy, Chairman and CEO. “We’ve recorded record user numbers and delivered the biggest app update in our history, giving millions of sports fans a uniquely mobile-first experience. We now look forward to building on this success during F2014 and continuing the phenomenal growth of our user base by offering fans the best-in-class mobile sports experience they deserve.” 

FISCAL 2013 FINANCIAL RESULTS
Revenue for the year ending August 31, 2013 was $5.3 million, compared to $4.2 million the previous year, an increase of 26%.  Revenue for the three months ended August 31, 2013 was $1.3 million, no change from the same period the previous year.
EBITDA loss for the year ending August 31, 2013 was $8.3 million compared to $6.5 million the previous year.  This difference was primarily as a result of an increased investment in personnel related to the development of theScore’s mobile apps.  EBITDA loss for the three months ended August 31, 2013 was $1.2 million compared to a loss of $1.9 million in the same period the previous year.  EBITDA loss for the three months and year ended August 31, 2013 was positively impacted by $1.0 million as a result of the Company’s Ontario Interactive Digital Media Tax Credit accruals made in the quarter ended August 31, 2013.

STOCK OPTION GRANT
theScore today announced the grant of an aggregate of 5,145,000 options, including 2,440,000 options to directors and officers of the Company.  Options were granted to the following directors and officers: Norwest Video Inc. (John Levy) (1,200,000 options); Benjamin Levy (600,000options); Tom Hearne (400,000 options); Ralph Lean (40,000 options); John Albright (40,000 options); Mark Scholes (40,000 options); Lorry Schneider (40,000 options); William Thomson (40,000 options); and Mark Zega (40,000 options).  Each option is exercisable for one Class A Subordinate Voting Share of theScore at an exercise price of $0.18, vests over three years and has a term of ten years.  Each option is exercisable in accordance with the terms and conditions of the Company’s stock option plan.

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 Listing Application 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.