With record revenues of $20.8M (+5%) but a worsening EBITDA loss, the Canadian group spent 2025 becoming something other than a simple esports team operator.
Last year, following the acquisitions of KOI and Movistar Riders, I concluded that "2025 would be crucial to confirm the transformation initiated in 2024." The annual results published on April 28 deliver a nuanced answer: the commercial side delivers, the financial performance deteriorates, and the Canadian group is using the year to develop parallel activities.
Live events carry
2025 revenue reached $20.8M, a modest 5% increase over the $19.7M posted in 2024. A record, yes, but a slowed one given that 2025 absorbs twelve full months of KOI and Movistar Riders, compared to ten months in 2024.
Revenues from the commercial division climbed 34% to $16.1M, driven by three live events:
- Madrid Arena for the LEC Roadtrip
- Madrid for Call of Duty League Major 1
- Kitchener for the Call of Duty Championship
On the sponsorship front, the group secured renewals (Bell, Red Bull, etc.) along with new marquee partners (Pepsi, Little Caesars, etc.).
The group's business growth indicators are strong, and OverActive seems to have found a content × audience × sponsors model that works — moving away from the guarantees that franchised esports no longer provides.
Adam Adamou, CEO, commented:
"We've taken meaningful cost out of the business, our newer revenue lines are scaling, and we have stronger commercial visibility than we've had at this point in any prior year."
