In the fourth quarter of 2021, the revenue of the company increased to $7.0m from $4.8m in the previous quarter. This growth can be attributed to the launch of its sports betting vertical in partnership with operators such as BetMGM and Circa Sports, which took place in August 2021. In comparison, the company had no revenue in the fourth quarter of 2020.
In terms of operating income, the company achieved $500,000 in the final three months of 2021, a significant improvement from an operating loss of less than $100,000 in the same period in the previous year.
For the entire year of 2021, the revenue reached $14.8m, compared to no revenue in the previous year. The cost of sales amounted to $1.2m. However, the company reported an operating loss of $1.8m for 2021, which is higher than the $240,000 loss in 2020. This can be attributed to increased operating expenses, including salaries and wages totaling $5.8m and advertising, commissions, and fees amounting to $2.7m.
Furthermore, the company incurred listing and filing fees of $1.8m and transaction costs of just over $840,000, resulting in a net loss of $3.5m for 2021, compared to a net loss of $266,000 in 2020.
Despite these figures, Playmaker highlighted that pro-forma adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) increased to $9.3m in 2021, a significant rise from $4.2m in the previous year.
The company’s cash and cash equivalents also improved from $6.6m to $7.1m by the end of 2021. Pro-forma revenue for the year increased by 91% from $12.5m in 2020 to $23.8m in 2021.
Under the leadership of Jordan Gnat, founder and CEO of Playmaker, the company emphasized its strategy of acquiring and integrating successful companies to enhance its overall ecosystem. The audience numbers have witnessed substantial growth, with over 200 million monthly sessions and more than 85 million unique users across Playmaker’s web properties. Additionally, the company generates over 50 million monthly YouTube views, 550,000 monthly podcast streams, and reaches over 100 million fans across major social platforms. Playmaker aims to deliver relevant content to its fans through expanded distribution channels.
During recent months, Playmaker has made several acquisitions, including Mexican sports platform Cracks, Brazil-based Grupo SuperPoker, digital betting and media solutions provider Two-Up, Brazilian online football community Fanáticos Por Futebol, and digital media property Yardbarker.
