Mobile sports company maintains strong revenue and user growth
TORONTO, April 7 2014 – theScore, Inc. (TSX Venture: SCR) (“theScore”) today announced the financial results for the three months and six months ended February 28, 2014 in accordance with International Financial Reporting Standards (“IFRS”).
FISCAL 2014 Q2 OPERATIONAL HIGHLIGHTS
- Average monthly active users of theScore’s mobile platforms reached 5.0 million in Q2 F2014, an increase of 43% compared to the same period in F2013. *
- Average monthly user sessions of theScore’s mobile platforms reached more than 155 million in Q2 F2014, an increase of 84% compared to the same period in F2013. *
- theScore launched ‘Feed’ on its iOS app – 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 for Android was named as one of the “Best Apps of 2013” by Google Play and was updated with full Player Alerts for NBA, NHL, MLB and NFL, as well as deeper soccer coverage.
- theScore for iOS and Android delivered mobile-first coverage of the Winter Olympic Games.
“During Q2 we introduced our newest feature to theScore with the launch of Feed,” said John Levy, Chairman and CEO of theScore, Inc. “This unique flow of personalized data and information provides theScore fans with a completely new level of engagement as they follow their teams, players and stories in real-time from their mobile device.”
FISCAL 2014 Q2 FINANCIAL RESULTS
Revenue for the three months ended February 28, 2014 was $1.9 million compared to $1.1 million for the same period the previous year, an increase of 73%. Revenue for the six months ended February 28, 2014 was $4.0 million compared to $2.6 million for the same period the previous year, an increase of 54%. Mobile advertising revenue for the three and six months ended February 28, 2014 increased by 143% and 112% respectively compared to the same periods in the previous year.
EBITDA loss for the three months ended February 28, 2014 was $0.7 million compared to a loss of $2.6 million for the same period the previous year. EBITDA loss for the six months ended February 28, 2014 was $3.0 million compared to a loss of $4.7 million for the same period the previous year. The reduction in EBITDA loss was primarily due to increased revenue and the Ontario Interactive Digital Media Tax Credit recognized in this period.
For more information:
Tel: 416.479.8812 ext. 2366
Email: [email protected]
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 and Q2 F2014 and Q1 and Q2 F2013 exclude theScore’s secondary mobile sports application, SportsTap, which was retired September 30, 2013.