OverActive Media Corp.

Good day, everyone, and welcome to Overactive Media's third quarter conference call. At this time, participants are in a listen-only mode. This conference call is being recorded, and a replay of today's call will be available on the investor relations section of Overactive Media's website. It will remain posted there for the next 30 days. I will now hand the call over to Mr. Babak Pedram, investor relations for Overactive Media, for introductions and reading the safe harbor statement. Please go ahead, sir.

Thank you, Jenny, and good morning, everyone. Welcome to Overactive Media's third quarter 2024 earnings conference call. A copy of the company's earnings press release is available on the IR section of our website at overactivemedia.com. With us on today's call are Adam Adamu, CEO, and Rakesh Shah, CFO of the company. Today, we'll review the highlights and financial results for the third quarter 2024 and recent developments. Unless otherwise specified, all amounts mentioned on today's call are in Canadian dollars. Before we begin, I will read our cautionary notes regarding forward-looking information. Certain information to be discussed during this call contains forward-looking statements within the meaning of applicable security laws, including, among others, statements concerning the company's 2024 objectives, the company's strategy to achieve those objectives, as well as statements with respect to management's beliefs, plans, estimates, and intentions, and similar statements concerning anticipated future events, results, circumstances, performance, or expectations that are not historical facts. Such forward-looking statements reflect management's current beliefs and are based on information currently available to management and are subject to several significant risks and uncertainties, that could cause actual results to differ materially from those anticipated. Also, our commentary today will include adjusted financial measures, which are non-GAAP measures. These should be considered a supplement, not a substitute for GAAP financial measures. Reconciliations between the two can be found in our MD&A, which is available on cdorplus.ca and our website. At this time, it is my pleasure to introduce Adam Adamu, Chief Executive Officer of Overactive Media. Adam, please go ahead.

Thank you, Babak. Good morning, everyone, and thank you for joining us today. Q3 marked a pivotal quarter for overactive media as we continue to see the results of our disciplined execution and strategic focus. We achieved significant increases in normalized revenue compared to Q3 2023 while maintaining careful control over expenses. This translated into a notable improvement in our year-to-date adjusted EBITDA, reinforcing the strength of our business model and our commitment to operational excellence. We've introduced new financial metrics this quarter, adjusted gross profit and adjusted gross profit margin. These focus on the profitability of our core revenue activities by excluding indirect operating costs, giving investors a clearer view of our ability to deliver value while maintaining sustainable margins. In 2024, we achieved adjusted gross margins exceeding 70%. showcasing the operational leverage we're building to drive strong, incremental profitability as we grow. This quarter wasn't just about numbers. It was about momentum. Across key markets like the U.S., Europe, Latin America, and China, our esports franchises are driving fan engagement, revenue, and long-term value. Whether it's through innovative partnerships, digital MTX sales, or redefining the industry landscape with our restructured league agreements, Overactive media is leading the evolution of esports. Allow me to highlight some key accomplishments. First, our strategic acquisitions of riders and the purchase of the COI assets have significantly enhanced our presence in Europe and Latin America. The iconic COI brand resonates deeply with fans, and their emotional collection is fueling growth across every key metric. Second, we're leading the way in digital sales. Toronto Ultra has emerged as the top performer in Call of Duty League digital MTX sales. This is a testament to our ability to monetize fan engagement and aligns perfectly with the future of revenue in esports. We believe that there are strong opportunities for us to grow our digital MTX revenues across our esports, particularly in the US, Latin America, and China. Next, our recent restructuring agreements with our publisher and league partners are truly transformative. Together, these agreements have eliminated over $37 million in liabilities and giving us giving us full ownership of our franchise rights with no future obligations. This not only reduces risk, but positions us to fully capture the upside potential of esports. Finally, our partnerships with leading global brands like Pepsi and AMD highlight the strength of our position in the market. These collaborations reflect the trust these partners have in us and reinforce our influence in the industry. These are not isolated wins. They represent the execution of a clear and deliberate strategy to build a sustainable, profitable business that sets the standard for the industry. Esports is evolving rapidly, and we're shaping its future. As we look ahead, our focus is on leveraging our strengths, scalable revenue models, operational agility, and a commitment to innovation. Overactive media is built to not just compete, but to thrive in this dynamic landscape. I'm proud of what we've accomplished so far, and I'm confident about what lies ahead. Thank you for your continued support as we drive overactive media to new heights. I'll now hand it over to Rakesh Shah, our CFO, to take you through the financials in detail.