Overactive Media Corp (OAM) stock plummeted 4.07% in the last trading session at the price of $1.30 despite no fundamental updates. OverActive’s (OAM) mandate is to establish an international company that delivers sports and entertainment products through videogames, esports, content creation, online and live events.
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Second Position at Call of Duty League Championship
On 23rd August 2021, Toronto Ultra had secured a second-place finish at the Call of Duty League Championship held in Los Angeles from 19th to 22nd August 2021. Toronto Ultra defeated Minnesota RØKKR, OpTic Chicago, and Dallas Empire. Toronto Ultra bounced back to conquer Major II following a late start of Major I. The route to the final succeeded by a final match against Atlanta FaZe.
Management Comments
Chief Strategy Officer at OverActive Media, Adam Adamou, thanked the consistent support of their fans and associates. He remarked that their team performed nothing short of incredible this season. For the last two years, they have witnessed high growth, consistency, and stability as Toronto Ultra has proven to be one of the best. The season’s success has validated its strategy for building teams, coaching, and operations. They are ready to start planning for next year, he added.
OAM Reported Q2 and Six-Months 2021 Financial Results
On 16th August 2021, OAM announced its financial results for the three and six-month ended 30th June 2021.
Second Quarter 2021 Results
OAM reported revenue of $2,104 for the three months ended on 30th June 2021. It represents an increase of 71% from $1,227 for the same quarter of 2020. Adjusted EBITDA1 was ($1,851) for the three months ended 30th June 2021. It was improved by 28% from ($2,561) for the same quarter of the previous year. As of 30th June 2021, the company had cash and cash equivalents of approximately $15,660.
Six Months 2021 Financial Highlights
OAM reported revenue of $3,402 for the six months ended on 30th June 2021. It grew by 56% from $2,179 for the same period of the prior year. Adjusted EBITDA improved by 36% to ($4,282) for the six months ended 30th June 2021. For the same six months ended 30th June 2020, adjusted EBITDA was ($6,678). Cash and cash equivalents were approximately $5,585 as of 31st December 2020.
