Dead & Company to celebrate 60 years of the Grateful Dead at San Francisco's Golden Gate Park
Mayor Daniel Lurie announced on Monday, May 12, that the park will host a three-day concert in honor of the iconic Bay Area jam band, with Dead & Company performing from Aug. 1-3.
'Right here in the city that is the home of the Grateful Dead,' Lurie said. 'What better way to celebrate? We'll see you out here.'
The last time surviving Grateful Dead members Bob Weir and Mickey Hart, along with their ensemble of musician friends — guitarist John Mayer, bassist Oteil Burbridge, pianist Jeff Chimenti, and drummer Jay Lane — played a three-night run in the city was at Oracle Park in July 2023.
San Francisco is planning to welcome @deadandcompany to Golden Gate Park for three days in August, to mark the 60th anniversary of the Grateful Dead. Stay tuned for more details from the band coming soon! pic.twitter.com/W0EUzTxUF1
— Daniel Lurie 丹尼爾·羅偉 (@DanielLurie) May 12, 2025
This summer's series of shows is something of an encore. In 2015, Dead & Company celebrated the Grateful Dead's 50th anniversary with a two-night 'Fare Thee Well' stand at Levi's Stadium. But this time, the upcoming concerts will commemorate the moment in 1965 when Phil Lesh, Jerry Garcia, Bill Kreutzmann, Weir and Ron 'Pigpen' McKernan played their first gig together as the Warlocks, later renamed the Grateful Dead.
Meanwhile, Dead & Company's Las Vegas residency, 'Dead Forever' at the Sphere, continues through.
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Allied Gaming & Entertainment Announces Second Quarter 2025 Financial Results
NEW YORK--(BUSINESS WIRE)--Allied Gaming & Entertainment, Inc. (NASDAQ: AGAE) (the 'Company' or 'AGAE'), a global experiential entertainment company, today announced financial results for the second quarter ended June 30, 2025. 'I am honored to be appointed CEO and I look forward to sharing more detail about our strategic vision in the second half of the year,' said Mr. Yangyang Li, Allied Gaming & Entertainment's Chairman of the Board, CEO and President. 'While our second quarter performance was impacted by disruptions related to a dissident stockholder, I am confident that we are gaining meaningful traction on our key initiatives. Our recent progress, including participating in strategic investments in iconic intellectual properties like Angry Birds 3, is laying a strong foundation, and we expect these efforts to be increasingly reflected in our financial performance in the quarters ahead.' Second Quarter 2025 Financial Results Revenues: Total revenues of $1.9 million decreased 27% compared to $2.6 million in the second quarter of 2024. The year-over-year decrease was primarily attributable to a $1.0 million decrease in mobile gaming revenues, partially offset by a $0.2 million increase in in-person revenues generated from arena events. Total costs and expenses for the second quarter were $8.0 million, a slight increase from $7.9 million in the prior-year period, with lower expenses within casual mobile gaming, largely offset by increases in general and administrative expenses, primarily stemming from a $0.5 million increase in legal and professional fees incurred in connection with complaints filed by a dissident stockholder along with a proxy contest between the Company and such stockholder. Net loss for the second quarter of 2025 was $4.8 million compared to net loss of $3.9 million in the prior year period. Adjusted EBITDA loss was $2.1 million for the second quarter of 2025 compared to a loss of $1.7 million in the second quarter of 2024. A reconciliation of the GAAP-basis net income (loss) to adjusted EBITDA is provided in the table at the end of this press release. Balance Sheet As of June 30, 2025, the Company had a cash and short-term investments position of $60.0 million, compared to $71.5 million at December 31, 2024. At June 30, 2025, the Company had a working capital position of $44.9 million compared to $64.3 million at December 31, 2024. As of June 30, 2025, the Company had approximately 38.0 million shares of outstanding common stock. Operational Update The Company hosted 75 events in the second quarter of 2025, with 36 proprietary events and 39 third-party event days. Third-party events were led by SNEAKS Showdown, a blend of gaming and street style culture to promote the movie SNEAKS; Power Esports Conference, a major collegiate esports competition; EVE Offsite, a developer conference and esports competition; Licensing International 2025 Awards, celebrating notable figures in Brand Licensing for 2025 with brands including Disney, Fortnite, Fendi, Coca-Cola, and more; and multiple World Poker Tour events. About Allied Gaming & Entertainment Allied Gaming & Entertainment Inc. (Nasdaq: AGAE) is a global experiential entertainment company focused on providing a growing world of gamers and concertgoers with unique experiences through renowned assets, products and services. For more information, visit Non-GAAP Financial Measures As a supplement to our financial measures presented in accordance with U.S. Generally Accepted Accounting Principles ('GAAP'), the Company presents certain non-GAAP measures of financial performance. These non-GAAP financial measures are not intended to be considered in isolation from, as a substitute for, or as more important than, the financial information prepared and presented in accordance with GAAP. In addition, these non-GAAP measures have limitations in that they do not reflect all of the items associated with the company's results of operations as determined in accordance with GAAP. Non-GAAP financial measures are not an alternative to the Company's GAAP financial results and may not be calculated in the same manner as similar measures presented by other companies. The Company provides net income (loss) and earnings (loss) per share in accordance with GAAP. In addition, the Company provides EBITDA (defined as GAAP net income (loss) from continuing operations before interest (income) expense, income taxes, depreciation, and amortization). The Company defines 'Adjusted EBITDA' as EBITDA excluding certain non-cash, non-recurring, and unusual items, such as stock-based compensation, non-recurring legal fees, repayments of restricted cash, and unrealized foreign currency transactions. In the future, the Company may also consider whether other items should also be excluded in calculating the non-GAAP financial measures used by the Company. Management believes that the presentation of these non-GAAP financial measures provides investors with additional useful information to measure the Company's financial and operating performance. In particular, these measures facilitate comparison of our operating performance between periods and help investors to better understand the operating results of the Company by excluding certain items that may not be indicative of the Company's core business, operating results, or future outlook. Additionally, we consider quantitative and qualitative factors in assessing whether to adjust for the impact of items that may be significant or that could affect an understanding of our ongoing financial and business performance or trends. Internally, management uses these non-GAAP financial measures, along with others, in assessing the Company's operating results, measuring compliance with any applicable requirements of the Company's debt financing agreements in place at such time, as well as in planning and forecasting. The Company's non-GAAP financial measures are not based on a comprehensive set of accounting rules or principles, and our non-GAAP definitions of the 'EBITDA' and 'Adjusted EBITDA' do not have a standardized meaning. Therefore, other companies may use the same or similarly named measures, but include or exclude different items, which may not provide investors a comparable view of the Company's performance in relation to other companies. Management compensates for the limitations resulting from the exclusion of these items by considering the impact of the items separately and by considering the Company's GAAP, as well as non-GAAP, financial results and outlook, and by presenting the most comparable GAAP measures directly ahead of non-GAAP measures, and by providing a reconciliation that indicates and describes the adjustments made. Forward Looking Statements This communication contains certain forward-looking statements under federal securities laws. Forward-looking statements include, but are not limited to, potential growth opportunities and other statements regarding our goals, beliefs, strategies, objectives, plans, product and service developments, future financial conditions, results or projections or current expectations. In some cases, you can identify forward-looking statements by terminology such as 'may,' 'will,' 'should,' 'expect,' 'plan,' 'anticipate,' 'believe,' 'estimate,' 'predict,' 'potential,' 'intend' or 'continue,' the negative of such terms, or other comparable terminology. These statements are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause actual results to be materially different from those contemplated by the forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside our control, that could cause actual results or outcomes to differ materially from those discussed in these forward-looking statements. The inclusion of such information should not be regarded as a representation by the Company, or any person, that the objectives of the Company will be achieved. Important factors, among others, that may affect actual results or outcomes include: risks associated with the future direction or governance of the Company; our ability to execute on our strategic and business plans; the substantial uncertainties inherent in the acceptance of existing and future products and services; the ability to retain key personnel; current and potential litigation and related legal expenses; general economic and market conditions impacting demand for our services; our inability to enter into one or more future acquisition or strategic transactions; and our ability, or a decision not to pursue strategic options for the esports business. You should consider the areas of risk described in connection with any forward-looking statements that may be made herein. The business and operations of AGAE are subject to substantial risks, which increase the uncertainty inherent in the forward-looking statements contained in this communication. Except as required by law, we undertake no obligation to release publicly the result of any revision to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Further information on potential factors that could affect our business and results is described under 'Item 1A. Risk Factors' in our Annual Report on Form 10-K for the year ended December 31, 2024, as filed with the U.S. Securities and Exchange Commission (the 'SEC') on June 9, 2025, as well as subsequent reports we file with the SEC. Readers are also urged to carefully review and consider the various disclosures we made in such Annual Report on Form 10-K and in subsequent reports with the SEC. Allied Gaming & Entertainment, Inc. and Subsidiaries Condensed Consolidated Balance Sheets June 30, December 31, 2025 2024 Assets Current Assets Cash and cash equivalents $ 23,075,975 $ 59,242,802 Short-term investments (at fair value, except for $15.8 million and $8.8 million at June 30, 2025 and December 31, 2024, respectively) 33,894,921 8,800,000 Marketable securities 3,006,165 3,483,211 Interest receivable 548,400 709,539 Accounts receivable 279,838 708,804 Insurance recovery receivable 1,313,766 - Loans receivable 24,813,589 17,629,915 Deposits, current portion - 3,700,000 Prepaid expenses and other current assets 596,283 471,361 Total Current Assets 87,528,937 94,745,632 Property and equipment, net 2,613,616 3,000,082 Digital assets 103,507 49,300 Intangible assets, net 4,904,990 5,115,686 Land use rights, net 3,935,575 - Deposits, non-current portion 422,072 2,614,462 Operating lease right-of-use asset 3,769,046 4,365,718 Investment in unconsolidated affiliate 2,451,300 - Goodwill 2,847,858 2,796,379 Total Assets $ 108,576,901 $ 112,687,259 Liabilities and Stockholders' Equity Current Liabilities Accounts payable $ 3,376,759 $ 1,322,140 Accrued expenses and other current liabilities 1,524,288 1,151,407 Deferred revenue 134,847 656,382 Operating lease liability, current portion 1,640,841 1,591,475 Loans payable 35,977,169 25,756,757 Total Current Liabilities 42,653,904 30,478,161 Operating lease liability, non-current portion 3,178,130 4,008,473 Deferred tax liability 670,743 670,743 Total Liabilities 46,502,777 35,157,377 Commitments and Contingencies (Note 12) Stockholders' Equity Preferred stock, $0.0001 par value, 1,000,000 shares authorized, Series A Preferred stock, $0.0001 par value, 50,000 shares designated, none issued and outstanding - - Common stock, $0.0001 par value; 100,000,000 shares authorized, 40,299,180 and 46,385,798 shares issued at June 30, 2025 and December 31, 2024, and 38,018,882 and 44,105,500 shares outstanding at June 30, 2025 and December 31, 2024, respectively 4,030 4,639 Additional paid in capital 199,886,928 205,948,565 Accumulated deficit (139,986,504 ) (130,428,314 ) Accumulated other comprehensive income 339,048 180,002 Treasury stock, at cost, 2,280,298 shares at June 30, 2025 and December 31, 2024, respectively (2,694,075 ) (2,694,075 ) Total Allied Gaming & Entertainment Inc. Stockholders' Equity 57,549,427 73,010,817 Non-controlling interest 4,524,697 4,519,065 Total Stockholders' Equity 62,074,124 77,529,882 Total Liabilities and Stockholders' Equity $ 108,576,901 $ 112,687,259 The accompanying notes are an integral part of these condensed consolidated financial statements. Expand ALLIED GAMING & ENTERTAINMENT INC. AND SUBSIDIARIES Condensed Consolidated Statements of Operations For the Three Months Ended For the Six Months Ended June 30, June 30, 2025 2024 2025 2024 Revenues: In-person $ 1,160,995 $ 917,362 $ 2,817,750 $ 2,172,560 Multiplatform content 80 52 137 111 Casual mobile gaming 758,408 1,722,454 1,376,731 2,846,258 Total Revenues 1,919,483 2,639,868 4,194,618 5,018,929 Costs and Expenses: In-person (exclusive of depreciation and amortization) 617,717 502,203 1,478,271 1,138,166 Casual mobile gaming (exclusive of depreciation and amortization) 736,382 1,561,165 1,318,572 2,498,070 Research and development expenses 166,907 173,533 347,853 368,744 Selling and marketing expenses 81,671 54,361 121,658 108,049 General and administrative expenses 6,019,072 5,236,160 11,499,715 8,091,482 Depreciation and amortization 389,712 402,698 772,150 780,168 Total Costs and Expenses 8,011,461 7,930,120 15,538,219 12,984,679 Loss From Operations (6,091,978 ) (5,290,252 ) (11,343,601 ) (7,965,750 ) Other (Expense) Income: Other (expense) income, net (56,394 ) 14,399 (32,092 ) 1,241 Realized gain on investment in money market fund 19,588 - 386,109 - Gain on investment in marketable securities 787,869 - 512,593 - (Loss) gain on foreign currency transactions, net (535,745 ) 351,434 (1,101,041 ) 351,434 Change in fair value of digital assets 27,599 - (35,221 ) - Interest income, net 1,015,094 1,041,468 1,879,399 1,900,673 Total Other (Expense) Income 1,258,011 1,407,301 1,609,747 2,253,348 Pre-Tax Loss (4,833,967 ) (3,882,951 ) (9,733,854 ) (5,712,402 ) Income tax benefit - - - - Net Loss (4,833,967 ) (3,882,951 ) (9,733,854 ) (5,712,402 ) Less: net loss attributable to non-controlling interest (22,833 ) (79,693 ) (86,236 ) (210,034 ) Net Loss Attributable to Common Stockholders $ (4,811,134 ) $ (3,803,258 ) $ (9,647,618 ) $ (5,502,368 ) Net Loss per Common Share Basic and Diluted $ (0.11 ) $ (0.09 ) $ (0.22 ) $ (0.13 ) Weighted Average Number of Common Shares Outstanding: Basic and Diluted 43,508,722 43,212,071 43,586,731 41,034,900 The accompanying notes are an integral part of these condensed consolidated financial statements. Expand Allied Gaming & Entertainment, Inc. and Subsidiaries Non-GAAP Financial Measures EBITDA and Adjusted EBITDA are non-GAAP financial measures and should not be considered as a substitute for net income (loss), operating income (loss) or any other performance measure derived in accordance with United States generally accepted accounting principles ('GAAP') or as an alternative to net cash provided by operating activities as a measure of AGAE's profitability or liquidity. AGAE's management believes EBITDA and Adjusted EBITDA are useful because they allow external users of its financial statements, such as industry analysts, investors, lenders and rating agencies, to more effectively evaluate its operating performance, compare the results of its operations from period to period and against AGAE's peers without regard to AGAE's financing methods, hedging positions or capital structure and because it highlights trends in AGAE's business that may not otherwise be apparent when relying solely on GAAP measures. AGAE presents EBITDA and Adjusted EBITDA because it believes EBITDA and Adjusted EBITDA are important supplemental measures of its performance that are frequently used by others in evaluating companies in its industry. Because EBITDA and Adjusted EBITDA exclude some, but not all, items that affect net income (loss) and may vary among companies, the EBITDA and Adjusted EBITDA AGAE presents may not be comparable to similarly titled measures of other companies. AGAE defines EBITDA as earnings before interest, income taxes, depreciation and amortization of intangibles. AGAE defines Adjusted EBITDA as EBITDA excluding stock-based compensation and non-recurring, infrequent or unusual items. The following table presents a reconciliation of EBITDA and Adjusted EBITDA from net loss, AGAE's most directly comparable financial measure calculated and presented in accordance with GAAP. Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Net loss $ (4,833,967 ) $ (3,882,951 ) $ (9,733,854 ) $ (5,712,402 ) Interest income, net (1,015,094 ) (1,041,468 ) (1,879,399 ) (1,900,673 ) Depreciation and amortization 389,712 402,968 772,150 780,168 EBITDA (5,459,349 ) (4,521,451 ) (10,841,103 ) (6,832,907 ) Non-recurring legal fees (1) 2,403,541 2,938,034 4,027,488 3,138,034 Non-recurring proxy contest costs (2) 1,074,533 - 1,077,851 - (Gain) on investment in marketable securities (787,869 ) - (512,593 ) - (Gain) on investment in money market fund (19,588 ) - (386,109 ) - Loss (gain) on foreign currency transactions, net 535,745 (351,434 ) 1,101,041 (351,434 ) Stock based compensation 190,762 202,308 379,198 673,908 Adjusted EBITDA $ (2,062,225 ) $ (1,732,543 ) $ (5,154,227 ) $ (3,372,399 ) Expand Notes: (1) Represents defense and other costs related to complaints filed by a shareholder in the Court of Chancery of the State of Delaware on March 7, 2024 and November 12, 2204. (2) Represents legal and other professional fees related to a proxy contest between the Company and a dissident shareholder along with a 13D suit we filed against such shareholder. Expand
San Francisco Chronicle
a day ago
- San Francisco Chronicle
Grateful Dead's 60th anniversary in S.F. continues with Fillmore tribute to Phil Lesh
The Fillmore, long hallowed ground for Grateful Dead fans, will again echo with the sounds of the jam band's legacy this September as the Terrapin Roadshow rolls into San Francisco for a two-night stand celebrating the life and music of late bassist Phil Lesh. The concerts, set for Friday, Sept. 12, and Saturday, Sept. 13, are part of the ongoing celebration of the Grateful Dead's 60th anniversary in its hometown. They also honor Terrapin Crossroads, the beloved Marin County venue Phil Lesh co-founded with his wife, Jill, in 2012. A hub for the Bay Area's jam band community, Terrapin Crossroads closed in 2021 but left a lasting imprint on Deadhead culture. Friday's show will feature husband-and-wife duo Larry Campbell and Teresa Williams, along with Ross James, Alex Koford, Eric Krasno, Steve Molitz and John Molo. Saturday's lineup reshuffles, bringing in Holly Bowling, Natalie Cressman and Scott Law, while James, Koford and Krasno return for a second night. 'We are so thrilled to announce that we're bringing a very special Terrapin Roadshow to the legendary Fillmore Auditorium in San Francisco,' the band said in a statement. 'This has been a magical Summer celebrating Phil, the legacy of Terrapin Crossroads, and of course the music of the Grateful Dead.' Before arriving in San Francisco, the Roadshow will stop in Truckee on Sunday, Aug. 17, featuring the Terrapin Allstars, Jackie Greene, Nicki Bluhm and Ross James. Grahame Lesh, Phil's son, was originally scheduled to appear but withdrew due to family commitments. Presale tickets open at 10 a.m. Thursday, Aug. 14, at 10 a.m. General on-sale begins Friday. More information is available at Earlier this month, Dead & Company led a three-day celebration in Golden Gate Park, part of a broader anniversary tribute.
