Playmaker Capital reports $8.8m revenue for Q3
Pro forma revenue of $10.1m was given due to expected boosts from its acquisition of Wedge Traffic.
Playmaker Capital, a sports media company, has announced its Q3 results, reporting an annual 20% revenue increase to $8.8m. The forecasted/ pro forma revenue for the past year was $37.8m, which represents an organic increase of 32.8% year-on-year.
Pro forma revenue was announced as $10.1m for the quarter. Meanwhile, adjusted EBITDA was $2.7m this quarter, down 17% from the prior-year period. Operating losses stood at $0.4m for Q3 of 2022, compared to an operating income of $1m in the third quarter of 2022.
Pro forma metrics were used by Playmaker Capital in its Q3 report due to its acquisition of iGaming affiliate Wedge Traffic. This affiliate will create “meaningful revenue and EBITDA,” explaining the discrepancy between upfront results and pro forma results.
Playmaker noted several operational highlights for the third quarter of 2022, including record engagement metrics across its web properties. The company reached a monthly high of 95 million users and generated 715 million sessions over the course of the quarter.
Playmaker CEO Jordan Gnat commented: “We are very proud to announce another strong quarter of revenue growth and profitability. Our vertical focus on sports, continued momentum of direct sales, organic audience growth, differentiated content, and diversified revenue streams, are serving us very well.
“Our acquisition of Wedge Traffic in October was a bullseye. We identified the need to add meaningful affiliate revenue and now we have the team and the business that can deliver that at scale. We remain on track, continue to deliver strong results, and we are looking forward to Q4 and the FIFA World Cup.”
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