- Q4 2021 pro forma revenue was U.S. $7.5 million, an organic
increase of 49% over Q4 2020
- 2021 annual pro forma revenue was U.S. $23.8 million, an
organic increase of 91% over 2020
- Q4 2021 pro forma Adjusted EBITDA was U.S. $2.9 million, an
organic increase of 23% over Q4 2020
- 2021 annual pro forma Adjusted EBITDA was U.S. $9.3 million, an
organic increase of 119% over 2020
Playmaker Capital Inc. (TSX-V: PMKR; OTCQX: PMKRF) (“the
Company” or “Playmaker”), the digital sports media company that
delivers authentic content through its portfolio of sports media
and technology brands, is pleased to report its financial results
for the three months ended December 31, 2021 (“Q4 2021”) and for
the full year of 2021.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20220321005313/en/
Playmaker Reports Fourth Quarter 2021 and
Full Year Results Highlighted by Exceptional Organic Growth and
Profitability (Graphic: Business Wire)
“Our pro forma results for Q4 2021 and full year 2021
demonstrate the continued execution of our strategy. We are
acquiring great companies and successfully integrating them to
leverage the centres of excellence within each business for the
benefit of the entire Playmaker ecosystem. Our audience numbers
have grown dramatically. We are now generating over 200 million
monthly sessions from more than 85 million unique users across
Playmaker’s web properties, generating over 50 million monthly
YouTube views and 550K monthly podcast streams, and reaching more
than 100 million fans across all major social platforms. We have
expanded our distribution channels to deliver relevant content to
our fans when they want it, how they want it, and where they want
it. Our organic growth has been phenomenal, and we have done it
while maintaining a focus on profitability with a 119% increase in
pro forma adjusted EBITDA year over year.” said Jordan Gnat,
Founder and CEO of Playmaker.
FINANCIAL HIGHLIGHTS (Figures in USD)
- Revenue – Revenue was $7.0 million in Q4 2021, compared
to $nil in Q4 2020.
- Operating Income – Operating income was $0.5 million in
Q4 2021, compared to an operating loss of less than $0.1 million in
Q4 2020.
- Pro Forma Revenue (including all acquisitions to date) –
Revenue was $7.5M in Q4 2021, an increase of 49% from $5.0M in Q4
2020. For the twelve months ended December 31, 2021, pro forma
revenue was $23.8M, an increase of 91% from $12.5M in the prior
year.
- Pro Forma Adjusted EBITDA (including all acquisitions to
date) – Adjusted EBITDA was $2.9M in Q4 2021, an increase of
23% from $2.4M in Q4 2020. For the twelve months ended December 31,
2021, pro forma adjusted EBITDA was $9.3M, an increase of 119% from
$4.2M in the prior year.
- Cash and Cash Equivalents – Cash and cash equivalents
were $7.1 million at December 31, 2021 compared to $6.6 million at
December 31, 2020.
OPERATIONAL HIGHLIGHTS
- Playmaker added to its collection of premier sports media
brands through the acquisitions of Futbol Sites, Fanáticos,
Yardbarker, Two-Up, SoccerMemes, VarskySports, TNN, Super Poker,
Cracks and Futmarketing.
- Playmaker achieved its highest rankings by Comscore for total
web visits in the month of December 2021, ranking as the #6 digital
sports media group across the Americas and the #1 regional sports
media group across all of Latin America.
- Playmaker achieved record engagement metrics in Q4 2021 across
its owned and operated web properties, reaching more than 85
million monthly unique users and generating more than 462 million
sessions, representing a 50%+ increase over Q4 2020.
- Successful migration of Yardbarker’s web monetization to
Playmaker Bench, Playmaker’s in-house monetization tech stack;
commenced migration of TNN web properties to Playmaker Bench;
Futbol Sites and TNN launched content syndication with major news
outlets with support of Playmaker’s syndication centre of
excellence.
- The Morning Bark, Yardbarker’s daily email newsletter,
increased its subscriber base to more than 370K.
- TNN’s podcast network achieved a monthly record of 550K streams
in Q4 2021.
- Playmaker brand Cracks generated more than 600 million views on
YouTube in 2021.
- Playmaker properties reached more than 100 million social media
followers across all major platforms including Facebook, Twitter,
TikTok, Instagram, YouTube and Twitch.
CONFERENCE CALL
The Company will host a management conference call to discuss
its Q4 and full year financial results on March 21, 2022 at 8:30
a.m. (Eastern Time). Hosting the call will be Jordan Gnat, Chief
Executive Officer; Jake Cassaday, Chief Operating Officer; and Mike
Cooke, Chief Financial Officer.
To participate in the conference call, please dial-in using one
of the following numbers approximately five minutes prior to
commencement and ask to join the Playmaker call:
Dial-In Number (Toll Free):
1-844-707-6933
Dial-In Number (International):
1-412-317-5796
A replay of the Conference Call will be made available at
playmaker.fans/investors.
To sign up for Playmaker Investor Alerts, visit: PMKR Investor
Alerts.
TSX VENTURE EXCHANGE DISCLAIMER Neither TSX Venture
Exchange nor its Regulation Services Provider (as that term is
defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
NON-IFRS MEASURES Some of the information presented in
this press release includes non-IFRS financial measures, including,
“EBITDA”, “Adjusted EBITDA”, and metrics that are presented on a
pro forma basis. These measures are not recognized measures under
IFRS and do not have standardized meanings prescribed by IFRS and
are therefore unlikely to be comparable to similar measures
presented by other companies. Rather, these measures are provided
as additional information to complement IFRS measures by providing
further understanding of the Company’s results of operations from
management’s perspective. Accordingly, these measures should not be
considered in isolation nor as a substitute for analysis of the
Company’s financial information reported under IFRS. “Adjusted
EBITDA” is defined as earnings before interest, taxes, depreciation
and amortization of our operating segments, excluding the head
office costs incurred by our corporate segment.
FORWARD LOOKING STATEMENTS
This press release may contain forward-looking information
within the meaning of applicable securities legislation, which
reflects Playmaker’s current expectations regarding future events.
The words “will”, “expects”, “anticipates”, “believes”, “plans”,
“intends” and similar expressions are often intended to identify
forward-looking information, although not all forward-looking
information contains these identifying words. Specific
forward-looking information contained in this press release
includes, but is not limited to, statements relating to the future
performance or achievements of Playmaker and the Futbol Sites,
Yardbarker, Two-Up, TNN, Super Poker, VarskySports, Cracks and
Futmarketing transactions, including their continued expansion and
growth, and other statements that are not historical facts.
Forward-looking information is based on a number of assumptions and
is subject to a number of risks and uncertainties, many of which
are beyond Playmaker’s control, which could cause actual results
and events to differ materially from those that are disclosed in or
implied by such forward-looking information. Such risks and
uncertainties include, but are not limited to: changes in general
economic, business and political conditions. Playmaker undertakes
no obligation to update such forward-looking information, whether
as a result of new information, future events or otherwise, except
as expressly required by applicable law.
ABOUT PLAYMAKER Playmaker Capital Inc. (TSX-V: PMKR) is a
digital sports media company that lives at the intersection of
sports, betting, media and technology. Playmaker is building a
premier collection of sports media brands, curated to deliver
highly engaged audiences of sports fans to sports betting
companies, leagues, teams and advertisers.
Playmaker reports in U.S. dollars, except where noted otherwise,
and in accordance with International Financial Reporting Standards
(“IFRS”).
For more information, visit: http://www.playmaker.fans or
contact Playmaker Chief Executive Officer Jordan Gnat via email
jgnat@playmaker.fans.
Playmaker Capital Inc.
Consolidated Statements of Financial Position (Stated in U.S.
dollars)
December 31, 2021
December 31, 2020
(Note 2)
Assets
Current
Cash and cash equivalents
$
7,111,728
$
6,631,358
Accounts receivable
4,406,719
-
Income taxes receivable
45,711
-
Inventory
18,770
-
Prepaid and other current assets
377,061
3,107
Total current assets
11,959,989
6,634,465
Property and equipment
778,381
610
Intangible assets
45,808,097
-
Goodwill
28,393,097
-
Deferred tax asset
868,116
Other long-term assets
20,720
-
Total assets
$
87,828,400
$
6,635,075
Liabilities
Current
Accounts payable
$
567,572
$
-
Income taxes payable
81,264
-
Deferred revenue
188,993
-
Accrued expenses and other current
liabilities
2,623,321
87,767
Current portion of lease liability
88,951
-
Current portion of long-term debt
14,365
-
Current deferred consideration
2,345,759
-
Current contingent consideration
10,475,031
-
Total current liabilities
16,385,256
87,767
Long-term debt
46,708
-
Long-term lease liability
415,057
-
Deferred
tax liability
4,237,822
Deferred
consideration
1,848,388
-
Contingent consideration
8,837,406
-
Total liabilities
31,770,637
87,767
Shareholders' Equity
Share
capital
60,494,370
6,823,258
Contributed surplus
606,863
30,740
Warrant
reserve
303,278
38,740
Accumulated other comprehensive (loss)
income
(1,368,266)
90,796
Deficit
(3,978,482)
(436,226)
Total shareholders’ equity
56,057,763
6,547,308
Total liabilities and shareholders’
equity
$
87,828,400
$
6,635,075
Playmaker Capital Inc.
Consolidated Statements of Net Loss and Comprehensive Loss
(Stated in U.S. dollars, except
share information) For the years ended December
31,
2021
2020
Revenue
$
14,820,154
$
-
Cost of
sales
1,189,901
-
Gross profit
13,630,253
-
Operating expenses
Advertising, commissions and fees
2,666,087
-
Web services and publishing
613,851
-
Salary and wages
5,797,734
92,551
Professional fees
828,410
71,328
General and administration
733,966
45,435
Share-based compensation
576,778
29,908
Depreciation and amortization
648,441
1,179
Total operating expenses
11,865,267
240,401
Operating income (loss)
1,764,986
(240,401)
Listing and filing fees
(1,826,331)
-
Transaction costs
(842,729)
-
Interest expense
(130,144)
-
Other income
21,761
-
Other expenses
(19,819)
(2,201)
Change in fair value of consideration
(2,901,005)
-
Change in fair value of convertible
debenture
(678,429)
-
Foreign exchange gain (loss)
849,908
(23,580)
Net loss before taxes
(3,761,802)
(266,182)
Deferred income tax recovery
324,824
-
Current income tax expense
(105,278)
-
Net loss
$
(3,542,256)
$
(266,182)
Other comprehensive (loss) income:
(Loss) gain on translation
(1,459,062)
47,932
Net loss and comprehensive loss
$
(5,001,318)
$
(218,250)
Basic and diluted net loss per
share
$
(0.03)
$
(0.05)
Basic and diluted weighted average
number of shares
128,850,587
5,565,479
Playmaker Capital Inc.
Consolidated Statements of Cash Flows (Stated in U.S. dollars) For the
years ended December 31,
Operating activities
2021
2020
Net
loss
$
(3,542,256)
$
(266,182)
Depreciation and amortization
648,441
1,179
Share-based compensation
576,778
29,908
Listing
fees, RTO costs
618,184
-
Non-cash
interest expense
107,434
-
Change
in fair value of contingent consideration
2,901,005
-
Change
in fair value of convertible debenture
678,429
-
Unrealized foreign exchange (gain)
loss
(864,176)
21,969
Deferred
income tax recovery
(324,824)
-
Loss on
disposal of asset
-
2,201
Change
in non-cash working capital:
Accounts
receivable
(829,901)
-
Income
taxes receivable
9,745
-
Inventory
8,926
-
Prepaid
and other current assets
(75,341)
1,442
Accounts
payable
(135,661)
(5,757)
Income
taxes payable
81,264
-
Deferred
revenue
121,810
-
Accrued
expenses and other current liabilities
535,098
16,700
Net cash
flows provided by (used in) operating activities
514,955
(198,540)
Investing activities
Acquisition of Futbol Sites, net of cash
acquired
(6,228,466)
-
Cash acquired through RTO
162,375
-
Acquisition of Fanaticos
(204,290)
-
Acquisition of Yardbarker, net of cash
acquired
(9,331,068)
-
Settlement of Yardbarker deferred
consideration
(500,000)
Acquisition of SoccerMemes
(100,000)
-
Acquisition of Two-Up, net of cash acquired
and debt assumed
(676,764)
-
Acquisition of Varsky
(175,804)
-
Acquisition of TNN, net of cash
acquired
(4,163,915)
-
Acquisition of SuperPoker
(1,727,806)
-
Acquisition of Cracks
(478,141)
-
Purchase
of property and equipment
(246,415)
-
Purchase
of intangibles
(55,590)
-
Net cash
flows used in investing activities
(23,725,884)
-
Financing activities
Issuance
of preferred shares
5,505,000
5,178,585
Issuance
of common shares
19,881,600
382
Issuance
costs on preferred and common shares
(1,236,391)
(88,383)
Options
exercised
36,704
-
Warrants
exercised
18,066
-
Long-term debt repayments
(139,587)
-
Lease
liability principal payments
(28,410)
-
Repurchase of preferred shares
-
(166,666)
Net cash
flows provided by financing activities
24,036,982
4,923,918
Increase in cash and cash
equivalents
826,053
4,725,378
Foreign exchange impact
(345,683)
26,973
Cash and cash equivalents, beginning of
year
6,631,358
1,879,007
Cash and cash equivalents, end of
year
$
7,111,728
$
6,631,358
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220321005313/en/
MEDIA Tom Webb - E: tom@redknotcomms.com | T: (+1) 512
952 9369 Romilly Evans - E: rom@redknotcomms.com | T: (+44) 7766
752 274
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