SINGAPORE, April 25, 2025 /PRNewswire/ — FOMO Pay, a leading major payment institution headquartered in Singapore, has been invited to join the newly launched Circle Payments Network (CPN) as one of its first design partners globally. As a member of the CPN, FOMO Pay will play a key role in advancing compliant, efficient, and real-time cross-border payments powered by regulated stablecoins.

Introduced by Circle, a global financial technology company and stablecoin market leader, the Circle Payments Network enables financial institutions and businesses to settle cross-border transactions in stablecoins with near-instant settlement. As one of the founding network partners, FOMO Pay will play a key role in the real-time settlement of cross-border payments using stablecoins, helping businesses and institutions transact seamlessly between fiat and stablecoins.

“As a member of the Circle Payments Network, FOMO Pay is proud to work alongside Circle to advance the adoption of compliant and fast stablecoin payments,” said Louis Liu, Founder and CEO of FOMO Pay. “In addition to FOMO Pay’s established local payment and banking rails across Southeast Asia, the Greater Bay Area, the Middle East and North Africa, Europe, and the United States, this collaboration with Circle positions us to support the growing regional demand for stablecoin-powered payments. “

By supporting real-time stablecoin transactions, FOMO Pay continues to help merchants, corporates, and financial institutions streamline cross-border transactions and accelerate trade settlement across markets.

About FOMO Pay

Founded in 2015, FOMO Pay is a Major Payment Institution licensed in Singapore, Hong Kong and the United Arab Emirates (UAE). The firm has become a leading one-stop digital payment, digital banking, and digital asset solution provider. It is currently building Asia’s fully licensed financial platform, helping institutions and businesses connect between traditional and next-generation financial services. The firm offers its three flagship products:

FOMO Payment – One-stop digital payment solution for merchants, corporates and financial institutionsFOMO iBank – Facilitate businesses’ everyday requirements for transactional banking needsFOMO Treasury – One-stop digital asset services provider bridging Web 2.0 & Web 3.0

Visit www.fomopay.com for more information.

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SOURCE FOMO Pay

Streamlined Operations and Solid Balance Sheet Position the Company for Sustainable Growth in 2025

TORONTO, April 24, 2025 /CNW/ – OverActive Media Corp. (“OverActive” or the “Company”) (TSXV: OAM) (OTC: OAMCF), a global esports and entertainment company for today’s generation of fans, released its results for the three and twelve-month periods ended December 31, 2024.

(i) Adjusted EBITDA is a non-IFRS measures. Refer to “Non-IFRS Measures” at the end of this press release.

“2024 was a year of real progress for OverActive Media,” said Adam Adamou, CEO and Co-Founder of OverActive Media. “We completed two major acquisitions, expanded into new games and regions, and grew our revenue by 72 percent. Managing that kind of growth while integrating teams and operating across multiple markets required focus, coordination, and an incredible effort from our entire organization.”

Adamou continued, “We’re proud of what we’ve built, but we know we’re not finished. Our priority in 2025 is to continue growing responsibly, improving margins, staying disciplined, and making sure that every step we take adds lasting value. We’re entering this next chapter with momentum, a strong foundation, and a clear plan to keep building a great business in a growing global industry.”

Revenue totaled $9.9 million, up 134% year-over-year, compared to $4.2 million in the same period in 2023. The increase was primarily driven by higher league share, expanded partnerships, and influencer agency revenue from the KOI and Riders acquisitions.Gross profit increased by $1.9 million to $5.3 million with a gross margin of 54%, compared to $3.4 million and 80% in 2023. Margins were impacted by the newly integrated influencer business.Operating costs increased by 54%, totaling $6.6 million, compared to $4.3 million in the same period in 2023. The increase was due to additional headcount, content production, and agency infrastructure tied to strategic expansion.Adjusted EBITDA improved to a loss of $554,000, compared to a loss of $699,000 in Q4 2023, reflecting positive impact of high-margin digital sales and improved operational leverage.Comprehensive loss for the quarter was $1.3 million, compared to a loss of $768,000 in Q4 2023, primarily driven by foreign currency translation losses.Net working capital (current assets less current liabilities) was $6.6 million. Cash and cash equivalents were $6.8 million, reflecting capital deployment into integration and growth. These amounts are net of an additional $782,000 invested in the venue project in Toronto. Total investments in the venue project to date are $2.1 million.

Revenue reached $27.0 million, up 72%, compared to $15.7 million in FY 2023, driven by acquisitions and growth across team operations, digital merchandise sales (MTX), brand partnerships, influencer business and live events – broadening OverActive’s revenue mix and geographic reach.Gross profit totaled $16.8 million, a 62% increase. Margin declined to 62% from 66%, due to changes in product mix, including lower-margin revenue from the influencer agency and live events.Operating costs were $23.4 million, up 37%, driven by investments in talent, systems, and platform efficiency, along with a $2.3 million one-time restructuring and business development expense tied to acquisitions.Adjusted EBITDA loss improved by 42% to $3.6 million, compared to a loss of $6.2 million in 2023.Comprehensive income of $311,000, compared to a loss of $12.2 million in FY 2023, reflecting a 103% year-over-year improvement, driven by strong revenue growth, disciplined cost management, an $11.5 million gain from the elimination of franchise liabilities, and favorable foreign currency translation.

Financial & Strategic Growth

72% year-over-year revenue growth, reaching a record $27.0 million.Positive comprehensive income of $311,000, a 10% improvement from loss of $12.2 million in 2023.42% improvement in adjusted EBITDA loss, driven by stronger revenue and improved operating efficiency.$11.5 million gain from the elimination of long-term franchise obligations, significantly strengthening the Company’s balance sheet.

Mergers & Acquisitions

Acquired KOI and Movistar Riders, expanding the Company’s footprint across Europe and Latin America and introducing new business lines including influencer agency operations.OverActive was awarded a VALORANT Champions Tour EMEA (VCT EMEA) partnership by Riot Games.

Global Expansion

Entered Latin America via Movistar KOI’s participation in the Free Fire League in Mexico, strengthening the Company’s multiyear partnership with Telefónica and presence in Latin America.Invited into the inaugural Esports World Cup Foundation Partner Program 2024 and for the 2025 season.Announced expansion into China, world’s largest and fastest-growing esports market, with Movistar KOI launching localized content on Weibo and Bilibili.

Competitive Success

MAD Lions KOI qualified for League of Legends World Championships for the sixth consecutive year, reaching 2.5M peak concurrent viewers.Toronto Ultra won CDL Major I, continuing its run as one of the top Call of Duty teams in the world.Toronto Defiant won back-to-back-to-back-to-back North American Championships in the inaugural Overwatch World Championship Series.OverActive Media finished in 11th place globally in the inaugural Esports World Cup.

Live Events & Viewership

Hosted Call of Duty Major III in Toronto from May 16 to May 19, 2024, drawing an average of 116,400 viewers across 30 hours of airtime and totaling 3.5 million hours watch.Hosted the inaugural KOIKON in Madrid on December 6, 2024, drawing over 3,000 in-person attendees and more than 1 million livestream viewers.Hosted CDL Major I in Madrid with 12,000+ fans. This was the first CDL event hosted in Europe in five years and was produced in tandem as a joint Toronto Ultra and Movistar KOI event.Announced that the first ever LEC Roadtrip will be hosted by OverActive Media’s Movistar KOI at the Madrid Arena, with an expected 16,000 fans attending over two days, April 26 and 27.Announced as the host of the 2025 Call of Duty League® Championship Weekend powered by Bell in Ontario from June 26-29, expected to draw over 20,000 fans.

Commercial & Brand Partnerships

Renewed and expanded partnerships with Telefónica, AMD, Bell, SCUF Gaming.Signed new partnerships with Monster Energy, CUPRA, and Blacklyte.Announced LEC naming rights deal with Telefónica, the first of its kind in the LEC.

Sustainability & ESG

Partnered with Ecoembes to support sustainability initiatives and join the United Nations Sports for Climate Action Framework.

Subsequent to the Quarter

On April 19, 2025, Stewart Johnston stepped down from OverActive Media’s Board of Directors following his departure from Bell to pursue another opportunity. The Company extends its gratitude to Mr. Johnston for his valuable service and significant contributions.OverActive Media has retained Red Cloud Securities Inc. to provide market-making services in accordance with TSX Venture Exchange policies. The agreement commenced on April 15, 2025. Red Cloud will receive a monthly fee of $4,500 CAD for its services, which are intended to enhance the liquidity and trading activity of OverActive Media’s common shares. The engagement is open-ended and may be terminated by either party with 30 days’ written notice. No performance-based compensation or securities have been granted in connection with this arrangement.

The Company will conduct a conference call on Friday, April 25, 2025, at 9:00 a.m. ET.

To access the call, register at https://emportal.ink/3XSQ1QW or dial 1-888-699-1199 (North America) or 416-945-7677 (International).

A replay will be available until May 2, 2025, at 1-888-660-6345 or 289-819-1450 using entry code 23519#.

A webcast will also be available at https://app.webinar.net/2XjxkN4wv8K and archived for three months.

ABOUT OVERACTIVE MEDIA 

OverActive Media Corp. (TSXV: OAM) (OTC:OAMCF) is headquartered in Toronto, Ontario, with operations in Madrid, Spain and Berlin, Germany, is a premier global esports and entertainment company for today’s generation of fan. OverActive owns team franchises in professional esports leagues, including the Call of Duty League, operating as the Toronto Ultra, the League of Legends EMEA Championship (LEC), operating as Movistar KOI, the VALORANT Champions League (VCT) EMEA, operating as Movistar KOI and other professional esports leagues and competitions.

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. Forward-looking statements are often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and includes 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 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, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the OverActive. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking statements include the following: the potential impact of OverActive’s qualifying transaction on relationships, including with regulatory bodies, employees, suppliers, customers and competitors; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws and regulations both locally and in foreign jurisdictions; compliance with extensive government regulation; the risks and uncertainties associated with foreign markets; the ability of the Company to continue to execute on its existing partnerships and business strategy; the ability of the MAD Lions and Call of Duty Leagues to maintain viewership; the successful completion of the Company’s new venue; and other risk factors set out in OverActive’s most recent annual information form and its other filings with Canadian securities regulators, copies of which may be found under OverActive’s profile at www.sedarplus.ca. These forward-looking statements may be affected by risks and uncertainties in the business of OverActive and general market conditions.

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although OverActive has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended and such changes could be material. OverActive does not intend and do not assume any obligation, to update the forward-looking statements except as otherwise required by applicable law.

NON-IFRS MEASURES

This press release includes references to Adjusted EBITDA. 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. Our method of calculating this financial measure may differ from the methods used by other issuers and, accordingly, our 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 our performance or to cash flows from operating activities as measures of liquidity and cash flows.

Adjusted EBITDA is defined by the Company net income or loss before income taxes, finance costs, finance income, depreciation and amortization, decrease in net present value of franchise obligations, foreign exchange gains / loss, assistance payments from Franchise League and government assistance, restructuring and business development costs, impairment charges, and share-based compensation. We believe 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. A reconciliation of Adjusted EBITDA to net income/loss may be found in the Company’s Management’s Discussion and Analysis for the three and 12-month periods ended December 31, 2024.

The following tables presents a reconciliation of net loss to adjusted EBITDA for the three and twelve months ended December 31, 2024 and 2023:

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.

SOURCE Overactive Media Corp.

SHANGHAI, April 24, 2025 /PRNewswire/ — Horizon Robotics (stock code: 9660.HK), a leading provider of smart driving solutions for passenger vehicles, and Bosch, a leading global supplier of automotive technology and services, signed a Memorandum of Understanding (MoU), to intensify their collaboration.

According to the agreement, Bosch will develop its new multi purpose camera based on Horizon Robotics’ Journey 6B, and its Bosch ADAS product family for mid segment using the Journey 6E/M, offering enhanced safety, convenience and comfort for both drivers and passengers. Bosch’s new multi purpose camera and its ADAS product family for mid segment, have been awarded design-wins from multiple OEMs.

At the signing ceremony, in the presence of Mr. Wang Weiliang, President of Bosch Mobility Board China, Mr. Christoph Hartung, President of Bosch Cross-Domain Computing Solutions, and Dr. Yu Kai, Founder and CEO of Horizon Robotics, and Mr. Lyu Peng, Vice President of Horizon Robotics and Head of Strategy, Smart Driving Product Planning & Marketing, Mr. Wu Yongqiao, President of Bosch Cross-Domain Computing Solutions China and Mr. Calvin Xing, Vice President of Horizon Robotics and Vice President of Automotive Business Unit, signed the strategic cooperation MoU.

Journey 6B Powered Bosch New Multi Purpose Camera Secures Projects with Several Global and Chinese OEMs
Developed using Horizon’s Journey 6B processing hardware, Bosch’s new multi purpose camera offers a cost-effective solution to support advanced safety and comfort functions for SAE Level 2 assisted driving. With mass production scheduled for mid-2026, the new multi purpose camera has already secured several design wins with global and Chinese OEMs.

Horizon’s Journey 6B is an optimized solution designed for next-generation ADAS systems, focusing on active safety features and engineered specifically as a standard configuration for the industry. Journey 6B allows partners to develop integrated systems that deliver superior performance, optimized cost efficiency and enhanced safety. 

Bosch ADAS Product Family for Mid Segment Based on Journey 6E/M Secures Projects with Five OEMs
Based on Journey 6E/M processing hardware, the Bosch ADAS product family for mid segment enables high-level ADAS features including urban navigation-based assisted driving, supporting up to 10 routes of urban memory driving and parking, and smooth parking with one move parking assist function. Currently, these platforms have secured contracts with five OEMs, including JeTour, Dongfeng, and BAIC, with the first mass-produced model scheduled for launch in June 2025. Additionally, its first overseas project is planned for mass production in Q1 2026, inaugurating Bosch ADAS product family for mid segment global expansion empowered by Horizon’s Journey 6 series.

As an optimal solution to popularize ADAS, Journey 6E/M has gained recognition in the industry for its high performance and cost efficiency. Over 20 OEMs have selected Journey 6, empowering more than 100 smart vehicle models. With its shipments projected to exceed 1 million units by 2025, Horizon is poised to become the industry’s first ADAS technology firm to surpass the 10-million-unit milestone by 2025.

Mr. Wang Weiliang, President of Bosch Mobility Board China said: “At this pivotal moment for vehicle intelligence, Bosch is fully engaged, partnering openly with industrial value chain companies such as Horizon Robotics. By combining our software and hardware expertise in embedded systems, we’re driving the smart mobility revolution together.”

Mr. Christoph Hartung, President of Bosch Cross-Domain Computing Solutions said: “China has become the world’s fitness center for automotive intelligence. With our deep-rooted expertise in safety technologies, global regulatory compliance experience, and comprehensive service network, Bosch serves as the ideal partner for Chinese OEMs to develop local solutions while also identifying opportunities for global scalability. We look forward to collaborating with outstanding partners like Horizon Robotics to jointly advance the global development of intelligent driving technologies.”

Dr. Yu Kai, Founder and CEO of Horizon Robotics said: “We are honored to collaborate with Bosch, a world leader in mobility solutions with a century-long heritage in the automotive industry. We look forward to leveraging our innovative product technologies in collaboration with Bosch to deliver ADAS solutions that meet market demands globally. By deepening our collaboration on the Journey 6 series with leading OEMs, we aim to bring safe, reliable, and enjoyable assisted driving experiences to drivers and passengers worldwide.”

The collaboration between Horizon Robotics and Bosch leverages the two companies’ combined expertise and competitive strengths to deliver state-of-the-art assisted driving technologies. This collaboration will support OEMs in enhancing consumers’ driving and traveling experiences – making them safer, smarter and more comfortable – while accelerating the global adoption of assisted driving mobility technologies.

About Horizon Robotics
With its mission to make human life safer and better, Horizon Robotics is a leading provider of smart driving solutions for passenger vehicles, empowered by its proprietary software and hardware technologies. Its solutions combine cutting-edge algorithms, purpose-built software and processing hardware, providing the core technologies for smart driving that enhance the safety and experience of drivers and passengers. Horizon Robotics is a key enabler for the smart vehicle transformation and commercialization with its integrated solutions deployed on mass scale.

About Bosch
In China, the Bosch Group manufactures and markets automotive original equipment and aftermarket products, industrial drives and control technology, power tools, household appliances, security and communication systems as well as thermotechnology solutions. Having established a regional presence in China in 1909, Bosch employs more than 56,000 associates (as of December 31, 2024). Bosch in China has generated consolidated sales of CNY 142.8 billion in fiscal 2024.

Additional information is available online at www.bosch.com.cn.

The Bosch Group is a leading global supplier of technology and services. It employs roughly 417,900 associates worldwide (as of December 31, 2024). According to preliminary figures, the company generated sales of 90.5 billion euros in 2024. Its operations are divided into four business sectors: Mobility, Industrial Technology, Consumer Goods, and Energy and Building Technology. With its business activities, the company aims to use technology to help shape universal trends such as automation, electrification, digitalization, connectivity, and an orientation to sustainability. In this context, Bosch’s broad diversification across regions and industries strengthens its innovativeness and robustness. Bosch uses its proven expertise in sensor technology, software, and services to offer customers cross-domain solutions from a single source. It also applies its expertise in connectivity and artificial intelligence in order to develop and manufacture user-friendly, sustainable products. With technology that is “Invented for life,” Bosch wants to help improve quality of life and conserve natural resources. The Bosch Group comprises Robert Bosch GmbH and its roughly 470 subsidiary and regional companies in over 60 countries. Including sales and service partners, Bosch’s global manufacturing, engineering, and sales network covers nearly every country in the world. Bosch’s innovative strength is key to the company’s further development. At 136 locations across the globe, Bosch employs some 86,900 associates in research and development, of which nearly 48,000 are software engineers.

The company was set up in Stuttgart in 1886 by Robert Bosch (1861–1942) as “Workshop for Precision Mechanics and Electrical Engineering.” The special ownership structure of Robert Bosch GmbH guarantees the entrepreneurial freedom of the Bosch Group, making it possible for the company to plan over the long term and to undertake significant upfront investments in the safeguarding of its future. Ninety-four percent of the share capital of Robert Bosch GmbH is held by Robert Bosch Stiftung GmbH, a charitable foundation. The remaining shares are held by Robert Bosch GmbH and by a corporation owned by the Bosch family.

The majority of voting rights are held by Robert Bosch Industrietreuhand KG. It is entrusted with the task of safeguarding the company’s long-term existence and in particular its financial independence – in line with the mission handed down in the will of the company’s founder, Robert Bosch.

Additional information is available online at www.bosch.com, www.iot.bosch.com, www.bosch-press.com.

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SOURCE Horizon Robotics