Playmaker Capital reports $0.7m operating loss for Q2

Home » Playmaker Capital reports $0.7m operating loss for Q2

Playmaker Capital increased its revenue by 133% in the second quarter, bringing in $7 million.
This represents a $4 million increase year on year, but it was insufficient to offset a $0.7 million operating loss. Operating income for the company fell from a positive $0.4m to a negative $0.4m year on year.
Meanwhile, Playmaker had a similar performance on a pro forma basis, which included all acquisitions to date. Playmaker’s pro forma revenue was $7.4 million, a 10% increase over the same period last year.

However, pro forma adjusted EBITDA fell 14% year on year, from $2.2m to $1.9m. When Playmaker’s half-year results are considered, a similar trend is visible.

For the first quarter, pro forma revenue increased by 17%, from $12.2m to $14.3m, while pro forma adjusted EBITDA decreased by 4%, from $3.7m to $3.6m.

Meanwhile, cash and cash equivalents were $2.5 million in the second quarter, down from $5.1 million the previous year.

The operational results of Playmaker are much better. During Q2, the company achieved record engagement metrics, reaching a monthly high of more than 95 million users and generating 674 million sessions.

“We continued to invest in the foundation of our business, integrating recently acquired companies, and developing operational efficiencies and centers of excellence in Q2,” said Jordan Gnat, CEO of Playmaker.

“I have stated on numerous occasions that we will not profit at the expense of growth, and we will not grow at the expense of profit,” he added.

“This is the disciplined approach we began with, and as demonstrated, we are still focusing on this balance.”

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