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Troika Media Group (TRKA) announced a strategic acquisition of Converge Direct, LLC for $75 million, funded through a secured credit facility. Converge generated $300 million in revenue and $21 million in net income in 2021. The deal is expected to enhance Troika's earnings, with an anticipated combined adjusted EBITDA exceeding $27 million for 2022. Converge's management will join Troika's leadership, ensuring continuity. The transaction is projected to close by March 15, 2022.
Troika Media Group (Nasdaq: TRKA) has partnered with Yahoo Sports to launch pioneering Name, Image, and Likeness (NIL) deals with college basketball stars Paolo Banchero and Chet Holmgren. This initiative supports Yahoo Sports' Tourney Pick'em bracket game, marking a first-of-its-kind NIL collaboration in bracket gaming. Players can participate for a chance to win cash and vacation prizes. Troika has been a longstanding partner of Yahoo Sports, providing creative and strategic solutions over the last five years.
Troika Media Group (Nasdaq:TRKA) has been appointed as the agency of record for Balcony DAO, a pioneering real estate NFT investment platform. The collaboration aims to merge real estate and cryptocurrency, with Balcony DAO offering investors unique opportunities through Real Estate NFTs. Troika Labs will manage NFT creative strategy and digital marketing to enhance Balcony DAO's market presence. The partnership underscores Troika's commitment to innovation in the NFT domain, aiming to redefine the real estate investment landscape.
Troika Media Group (TRKA) announced a $125 million acquisition of Converge Direct LLC, enhancing its marketing capabilities. Converge generated $300 million in revenue and $23 million adjusted EBITDA for 2021. The deal is expected to close by March 15, 2022, with anticipated synergies of over $2 million in the first year. It aims to build a global branding and digital advertising powerhouse, contributing to recurring revenue and improved margins. The acquisition reinforces Troika's transformation strategy and positions it for significant growth and shareholder value enhancement.
Troika Media Group (Nasdaq:TRKA) announced its successful branding and marketing initiatives during Super Bowl LVI, partnering with the LA Rams, SoFi, and the Host Committee. The event featured an innovative game day experience using a 360-degree screen and highlighted Troika’s capacity to enhance fan engagement. Their work included a campaign launch featuring Snoop Dogg and a focus on integrating SoFi's brand into the game experience. Troika is set to continue collaborations with the LA Rams and SoFi for the 2022-23 season, aiming to enhance brand visibility across various platforms.
Troika Media Group has launched the Redeeem NFT marketplace, allowing users to redeem physical luxury goods through NFTs backed by Bitcoin. Troika becomes the first publicly-traded company to secure NFTs via the Bitcoin blockchain, capitalizing on the NFT trend among luxury brands. The platform simplifies NFT purchases by accepting various payment methods, including crypto. By partnering with a consignment company, Troika has integrated major luxury brands since 2022. This innovation bridges digital and physical assets, enhancing user experience and broadening market access.
Troika Media Group reported a 57.1% increase in revenue to $6.99 million for Q2 2022 compared to Q2 2021. Year-to-date revenue rose 78.76% to $15.34 million. Despite strong revenue growth, the company faced an increased net loss of $4.11 million against $623,000 from the prior year. Operating costs surged 65.8% to $7.49 million, driven by personnel expenses linked to new business. Management remains optimistic about growth, highlighting their ongoing expansion in the gaming and Esports sectors and a robust client demand pipeline.
Troika Media Group has successfully partnered with Unimás to relaunch its on-air brand, modernizing its visual identity with the tagline “Vivelo Todo” or “Live it All.” This rebranding comes after seven years since the last significant change, reflecting substantial shifts in the audience and programming. The updated look features vibrant colors and motion, aiming to reconnect with viewers. Troika’s CEO, Robert Machinist, expressed excitement about the ongoing partnership, highlighting the rebrand as essential for adapting to current market demands.
Troika Media Group reported impressive financial results for Q1 FY 2022, with revenue soaring 102% quarter-over-quarter to $8.3 million. Adjusted EBITDA improved 78% while net loss declined 45% to $(2.1) million. Management anticipates continued growth, driven by increased client spending in marketing, particularly in digital media and experiential campaigns. The company is strategically exploring mergers and acquisitions to further enhance its capabilities in high-growth sectors such as technology and experience, positioning itself for robust future performance.
Troika Media Group (Nasdaq: TRKA) announced an investor conference call scheduled for November 15, 2021, at 10:00 am ET to discuss its Q1 fiscal 2022 financial results. The call will be accessible via a live webcast link, with participation details provided for both domestic and international callers. Troika Media Group, a leader in brand consultancy, utilizes technology and data science to enhance audience engagement for major clients like Apple, Netflix, and Coca-Cola. The company emphasizes its commitment to delivering long-term value through innovative marketing solutions.
