OverActive Media reports $15.4M net loss in 2021

by Adam Fitch  ·  Updated 
OverActive Media reports $15.4M net loss in 2021

OverActive Media, a Canadian esports parent company, has released its financial performance for 2021.

Brass tacks: The company went public in July 2021 by listing on the TSX Venture Exchange.

  • OverActive Media generated $11.3M ($14.2M CAD) in revenue, an increase of 69% from 2020. There was a year-on-year increase of 109% in revenues from business operations, with the majority coming from increased partnership revenue.
  • The company reported a net loss of $15.4M ($19.4M CAD) for 2021, with an adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) of $5.5M ($7M CAD). It posted a net loss of $5M ($6.3M CAD) and adjusted EBITDA of $8.6M ($10.8M CAD) in 2020.
  • OverActive Media cited the increase in net loss as being partially due to "certain payments related to our franchise obligations" resuming after receiving forgiveness and deferrals the year prior.

The portfolio: The Canadian company has several sizeable investments across competitive gaming.

  • It received permission to build a 7,000-seat venue in Toronto, Canada from the local city council in December 2021.
  • OverActive Media owns franchise slots in Activision Blizzard esports leagues Call of Duty League and Overwatch League, as well as Riot Games' European LEC competition. It also operates events through OAM Live.
  • The teams under OAM ownership include CDL's Toronto Ultra, OWL's Toronto Defiant, and LEC's MAD Lions. The latter, its Spanish-targeted team brand, also fields a team in VALORANT.
  • Commercial partners for the company include audio brand EPOS, energy drinks company Red Bull, automotive company SEAT, financial company imagin, technology giant Canon, and custom gaming controller brand SCUF Gaming.
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