Motorsport Games Q1 revenue more than doubles

Motorsport Games
Bollinger Innovations, Inc. - Common Stock

Motorsport Games

MSGM

0.00

Bollinger Innovations, Inc. - Common Stock

BINI

0.00


Overview

  • Racing game developer's Q1 revenue more than doubled yr/yr to $4.0 mln

  • Adjusted EBITDA for Q1 rose to $1.5 mln from $0.6 mln a year ago

  • Company repurchased 904,395 shares and cancelled all Class B common stock


Outlook

  • Company plans to expand portfolio and bring Le Mans Ultimate to console

  • Motorsport Games expects ongoing momentum from Le Mans Ultimate and RaceControl platforms

  • Company says strengthened financial position enables pursuit of next phase of growth


Result Drivers

  • LE MANS ULTIMATE MOMENTUM - Co said ongoing momentum and player engagement with Le Mans Ultimate title drove revenue growth

  • CONTENT UPDATES - Release of Le Mans Ultimate Version 1.3, including new track, car, and features, led to record player engagement


Company press release: ID:nGNX2zjg7S


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q1 Revenue

$4 mln

Q1 Adjusted EBITDA

$1.5 mln

Q1 Gross Profit

$3.5 mln


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