Playmaker Capital reports $0.7m operating loss for Q2

Playmaker Capital has recorded a 133% top-line increase for Q2, generating $7m in second quarter revenue.

playmaker q2 2022 gambling insider web image

This constitutes a $4m rise year-on-year, though this wasn’t enough to offset an operating loss of $0.7m. The company’s operating income dipped into the red on a year-on-year basis, falling from a positive $0.4m.

Meanwhile, on a pro forma basis – including all acquisitions to date – Playmaker recorded a similar performance. Playmaker’s pro forma revenue was $7.4m, a 10% increase when compared to Q2 of last year.

Pro forma adjusted EBITDA, however, decreased year-on-year, falling by 14% from $2.2m to $1.9m. Again, a similar trend is visible is when Playmaker’s half-year results are taken into account.

For H1, the company’s pro forma revenue rose by 17%, climbing from $12.2m to $14.3m, while pro forma adjusted EBITDA experienced a 4% drop, going from $3.7m to $3.6m.

Cash and cash equivalents, meanwhile, stood at $2.5m for Q2, down from $5.1m year-on-year.

Playmaker’s operational results are much more favourable. The company achieved record engagement metrics during Q2, reaching a monthly high of more than 95 million users and generating 674 million sessions in the quarter.

“Q2 was a very productive quarter for us as we continued to invest in the foundation of our business, integrating recently acquired companies, and developing operational efficiencies and centres of excellence,” said Jordan Gnat, Playmaker CEO.

He added: “I have stated on many occasions that we will not profit at the expense of growth and not grow at the expense of profit.

“This is the disciplined approach we started with and, as demonstrated, we continue to focus on this balance.”

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