theScore off to a Stellar Start with F2021 Q1 Financial Results

According to recent numbers revealed by the Canadian digital media company, theScore, it looks like the company is off to a stellar start of the year. First-quarter results of the fiscal 2021 year show that the gaming handle of the company grew by 535%.

theScore Revealed Numbers Outlining a Stellar 2021 Start

The Canadian digital media company, theScore announced its financial results for the three months ending November 30, 2020. Based on the results released on Wednesday, the company is off to a stellar start of the year, with 535% growth in gaming handle year-over-year in Q1 F2021. theScore’s gaming handle for the first financial quarter reached $55.8 million.

The company revealed that EBITDA loss in Q1 was $9.3 million. Comparing to the same period last year, the number is up from $4.8 million. However, theScore outlined that EBITDA loss was the result of additional expenses related to the company expansion across the U.S.

“Our new fiscal year is off to a stellar start, including our best-ever quarter for media revenue, exponential handle growth on theScore Bet, and yet another record period for our esports operations.”

John Levy, Founder and CEO of theScore

In September 2020, the operator began its multi-state expansion of theScore Bet. Consequently, the company launched its services in both Colorado and Indiana. Furthermore, theScore bet is also looking to launch services in Iowa in the weeks ahead but a regulatory approval is still pending.

In November 2020 theScore introduced its dedicated betting feature BetSection for its betting app. The new feature provides sports betting fans with multiple key options and takes the betting experience to a whole new level.

theScore Esports Increase Popularity across Social Media Channels

The quarter also marked the third successful quarter in a row with record-breaking video views of theScore’s esports video content. In Q1, the views of esports content across all platforms marked a new all-time quarterly record reaching 357 million. Year-over-year, this represents a growth of 355%.

Approximately 105 million people enjoyed theScore social sports content across the media platforms Facebook, Instagram, Twitter, and TikTok. theScore’s YouTube channel gained additional 85,000 subscribers for the period. By now, the total number of YouTube subscribers is more than 1.58 million.

During the first quarter, the company achieved an average of 3.9 million monthly active users on theScore app on iOS and Android. The average monthly user sessions reached 458 million. This represents an average of 116 monthly-sessions-per-user.

The Company Continues to Grow

In a statement, theScore’s Founder and CEO, John Levy, shared his excitement by saying that the company fiscal year is off to a stellar start. He stressed that the Q1 F2021 results marked the best-ever quarter for media revenue as well as gaming handle growth. A record was observed in the esports operations, added Mr. Levy.

“We’re also diligently preparing for the enormous opportunity in Canada ahead of the anticipated creation of a fully-legalized and regulated sports betting and iGaming market in Ontario.“

John Levy, Founder and CEO of theScore

Furthermore, theScore’s CEO revealed that the company is steadily expanding its footprint in the North American sports betting market and awaits the launch in Iowa. Another “enormous opportunity” that theScore is exploring is the Canadian market. Moreover, he added that theScore is “uniquely positioned, both in the U.S. and Canada, as the only truly integrated mobile media and gaming company“.

In conclusion, Mr. Levy revealed that considering the growth and development of the company and the sports betting industry in North America, theScore may “consider a listing on a U.S. stock exchange“.