OverActive Media Reports Record First Quarter 2026 Revenue; Adjusted EBITDA Loss Narrows 43%

About this update from Overactive Media Corp

Gross Margin Expands to 59% from 52%; Net Loss Narrows 32%; Company Closes Secured Financing After Quarter-End TORONTO , May 27, 2026 /CNW/ - OverActive Media Corp. ("OverActive" or the "Company") (TSXV: OAM) (OTC: OAMCF) (FRA: 0RB), a premier global esports and entertainment company for today's generation of fans , today announced its results for the three-month period ended March 31, 2026. First quarter revenue grew 7% to a Company-record $5.4 million, gross margin expanded to 59% from 52%, and the Adjusted EBITDA loss narrowed 43% to $1.3 million, reflecting a higher-margin commercial mix and a leaner cost base. The Company reduced underlying operating costs and, subsequent to quarter-end, closed a secured debt financing for aggregate gross proceeds of approximately $1.95 million. The Company's condensed consolidated interim financial statements and Management's Discussion and Analysis for the three-month period ended March 31, 2026 are available on the Company's website at www.overactivemedia.com and under the Company's profile on SEDAR+ at www.sedarplus.ca. Unless otherwise specified, all amounts are in Canadian dollars ($). Financial Results Summary for Q1 2026 CEO Commentary "This was a strong start to the year," said Adam Adamou, CEO and Co-Founder of OverActive Media. "We grew revenue 7 percent, expanded gross margin to 59 percent from 52 percent, and cut our Adjusted EBITDA loss by 43 percent year over year. Our higher-margin commercial business is carrying more of the company, our cost base is leaner, and the gap to profitability is closing. We are executing the plan we set out, and the numbers are showing it." Adamou continued, "Our brands also delivered on the global stage. Movistar KOI brought roughly 15,000 fans to LEC Versus in Barcelona, Toronto KOI reached the podium at the Call of Duty League, and we were named Official National Team Partner for Canada alongside Esport Canada at the Esports Nations Cup in Riyadh. After quarter-end we closed a secured financing that strengthens our balance sheet, and we expect our highest-margin league and digital revenue to build through the year, as it does each year. We stay focused on reaching profitability." First Quarter 2026 Financial Highlights First Quarter 2026 Operating Highlights Subsequent to Quarter-End Conference Call Details OverActive Media will be hosting a First Quarter 2026 Earnings Conference Call on Thursday, May 28 at 8:30 AM (Eastern Time) To access the conference call, please register and enter your phone number at  https://app.webinar.net/d7xNyl7Jl2e  to receive an instant automated callback. To dial directly to be entered into the call by an operator, please dial 1-416-945-7677, or for international callers, 1-888-699-1199. The conference call will be webcast live in its entirety at 8:30 AM (Eastern Time) at  https://emportal.ink/4v8tqOy  and will be archived for 90 days following the call. Links to SEDAR+ filings and press releases are available on the investor website at https://overactivemedia.com/pages/filings / . TELEPHONIC REPLAY Call Details: 1-289-819-1450  Encore Replay Entry Code: 95772 #  Encore Replay Expiration Date: 06/04/2026 Reconciliation of Net Loss to Adjusted EBITDA Three months ended March 31: Non-IFRS Measures This press release includes references to Adjusted EBITDA. Adjusted EBITDA is a non-IFRS financial measure and is defined by the Company as net income or loss before income taxes, finance income and costs, depreciation and amortization, foreign exchange gains/losses, restructuring and development costs, one-time gains and losses, other income and loss, and share-based compensation. The Company believes that Adjusted EBITDA is a useful measure of financial performance because it provides an indication of the Company's ability to capitalize on growth opportunities in a cost-effective manner, finance its ongoing operations, and service its financial obligations. This non-IFRS financial measure is not an earnings or cash flow measure recognized by IFRS and does not have a standardized meaning prescribed by IFRS. The Company's method of calculating such a financial measure may differ from the methods used by other issuers and, accordingly, its definition of this non-IFRS financial measure may not be comparable to similar measures presented by other issuers. Investors are cautioned that non-IFRS financial measures should not be construed as an alternative to net income determined in accordance with IFRS as indicators of the Company's performance or to cash flows from operating activities as measures of liquidity and cash flows. Cautionary Note Regarding Forward-Looking Information This press release contains statements which constitute "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws (collectively, "forward-looking statements"), including statements regarding the plans, intentions, beliefs and current expectations of OverActive with respect to future business activities and operating performance, including anticipated revenue growth, margin improvement, the Company's ability to secure additional financing, and the Company's ability to continue as a going concern. Forward-looking statements are often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and include information regarding the anticipated financial and operating results of OverActive in the future. Investors are cautioned that forward-looking statements are not based on historical facts but instead on OverActive management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although OverActive believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed thereon. Key factors that could cause actual results to differ materially include: the Company's ability to raise additional financing and continue as a going concern; changes in general economic, business, and political conditions; changes in applicable laws and regulations both locally and in foreign jurisdictions; compliance with government regulation; risks associated with foreign markets; the ability of the Company to execute on its partnerships and business strategy; the ability of the LEC and Call of Duty Leagues to maintain viewership; and other risk factors set out in OverActive's public disclosure documents filed under its profile at www.sedarplus.ca. OverActive does not intend and does not assume any obligation to update the forward-looking statements except as otherwise required by applicable law. About OverActive Media OverActive Media Corp. (TSXV: OAM) (OTC: OAMCF) (FRA: 0RB) is a premier global esports and entertainment company for today's generation of fans, headquartered in Toronto, Canada, with operations in Madrid, Spain and Berlin, Germany. OverActive delivers premium experiences by operating top-tier competitive teams and complementary business units across media, content, and live events, including Movistar KOI in the League of Legends EMEA Championship and Toronto KOI in the Call of Duty League. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2026/27/c3624.html

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