Latest news with #MotorsportGamesInc
Yahoo
12-05-2025
- Automotive
- Yahoo
Motorsport Games Inc (MSGM) Q1 2025 Earnings Call Highlights: Navigating Financial Challenges ...
Release Date: May 09, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Motorsport Games Inc (NASDAQ:MSGM) received a $2.5 million investment from virtual reality headset manufacturers Pymax, providing significant financial support. Net revenues from the Le Mans Ultimate Racing title increased by $0.4 million in Q1 2025 compared to the same period in the prior year. The company reported an improvement in net income, achieving a net income of $1.0 billion compared to a net loss of $1.7 million in the prior year. Motorsport Games Inc (NASDAQ:MSGM) has improved cash flow from operations, generating an average positive cash flow of approximately $0.1 million per month. The company is exploring new opportunities, including bringing the Le Mans Ultimate game to PlayStation and Xbox consoles, which could expand its audience. Total revenues for Q1 2025 were down by 41.9% compared to the same period in the prior year, primarily due to a decrease in NASCAR-related revenues. The company is no longer authorized to sell NASCAR-related gaming titles starting in 2025, impacting revenue streams. Despite improvements, Motorsport Games Inc (NASDAQ:MSGM) expects to have a net cash outflow from operations for the foreseeable future as it continues to develop its product portfolio. The company is exploring additional funding options to address liquidity shortfalls, indicating ongoing financial challenges. There is a decrease in revenues from the rFactor 2 title by $0.2 million, contributing to the overall revenue decline. Warning! GuruFocus has detected 5 Warning Signs with MSGM. Q: Can you provide more details on the recent $2.5 million investment and its impact on the company? A: Stephen Hood, CEO: The investment was led by virtual reality headset manufacturers Pymax and has provided significant additional breathing room for our business. It has allowed us to further develop our products and assess future potential. This investment has also increased market confidence, with shares trading more than 2.5 times higher than before the announcement. Q: What are the key financial results for Q1 2025? A: Stanley Beckley, CFO: Revenues for the quarter were $1.8 million, down 41.9% from the prior year, primarily due to a decrease in NASCAR-related revenues. However, net income improved to $1.0 million compared to a net loss of $1.7 million in the prior year, driven by reduced operating expenses and other operating income. Q: How is the Le Mans Ultimate Racing title performing? A: Stephen Hood, CEO: Net revenues from the Le Mans Ultimate Racing title were $0.4 million higher in Q1 2025 compared to the same period last year, despite Q1 2024 being the release quarter. This is a positive result, and we plan to release future updates, including team and driver swap functionality, which will enhance the gaming experience. Q: What are the company's plans for expanding the Le Mans Ultimate audience? A: Stephen Hood, CEO: We expect the game to move from early access to a full release this year, unlocking new sales and marketing tactics. We are also exploring console opportunities to bring Le Mans Ultimate to PlayStation and Xbox, with discussions underway with potential collaborators. Q: How is the company's liquidity position? A: Stanley Beckley, CFO: As of March 31, 2025, we had cash and cash equivalents of $1.1 million, which increased to $3.1 million by April 30, 2025, due to net proceeds from a private placement. We continue to explore options to address liquidity shortfalls, including potential equity and debt financing arrangements. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Yahoo
12-05-2025
- Automotive
- Yahoo
Motorsport Games Inc (MSGM) Q1 2025 Earnings Call Highlights: Navigating Financial Challenges ...
Release Date: May 09, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Motorsport Games Inc (NASDAQ:MSGM) received a $2.5 million investment from virtual reality headset manufacturers Pymax, providing significant financial support. Net revenues from the Le Mans Ultimate Racing title increased by $0.4 million in Q1 2025 compared to the same period in the prior year. The company reported an improvement in net income, achieving a net income of $1.0 billion compared to a net loss of $1.7 million in the prior year. Motorsport Games Inc (NASDAQ:MSGM) has improved cash flow from operations, generating an average positive cash flow of approximately $0.1 million per month. The company is exploring new opportunities, including bringing the Le Mans Ultimate game to PlayStation and Xbox consoles, which could expand its audience. Total revenues for Q1 2025 were down by 41.9% compared to the same period in the prior year, primarily due to a decrease in NASCAR-related revenues. The company is no longer authorized to sell NASCAR-related gaming titles starting in 2025, impacting revenue streams. Despite improvements, Motorsport Games Inc (NASDAQ:MSGM) expects to have a net cash outflow from operations for the foreseeable future as it continues to develop its product portfolio. The company is exploring additional funding options to address liquidity shortfalls, indicating ongoing financial challenges. There is a decrease in revenues from the rFactor 2 title by $0.2 million, contributing to the overall revenue decline. Warning! GuruFocus has detected 5 Warning Signs with MSGM. Q: Can you provide more details on the recent $2.5 million investment and its impact on the company? A: Stephen Hood, CEO: The investment was led by virtual reality headset manufacturers Pymax and has provided significant additional breathing room for our business. It has allowed us to further develop our products and assess future potential. This investment has also increased market confidence, with shares trading more than 2.5 times higher than before the announcement. Q: What are the key financial results for Q1 2025? A: Stanley Beckley, CFO: Revenues for the quarter were $1.8 million, down 41.9% from the prior year, primarily due to a decrease in NASCAR-related revenues. However, net income improved to $1.0 million compared to a net loss of $1.7 million in the prior year, driven by reduced operating expenses and other operating income. Q: How is the Le Mans Ultimate Racing title performing? A: Stephen Hood, CEO: Net revenues from the Le Mans Ultimate Racing title were $0.4 million higher in Q1 2025 compared to the same period last year, despite Q1 2024 being the release quarter. This is a positive result, and we plan to release future updates, including team and driver swap functionality, which will enhance the gaming experience. Q: What are the company's plans for expanding the Le Mans Ultimate audience? A: Stephen Hood, CEO: We expect the game to move from early access to a full release this year, unlocking new sales and marketing tactics. We are also exploring console opportunities to bring Le Mans Ultimate to PlayStation and Xbox, with discussions underway with potential collaborators. Q: How is the company's liquidity position? A: Stanley Beckley, CFO: As of March 31, 2025, we had cash and cash equivalents of $1.1 million, which increased to $3.1 million by April 30, 2025, due to net proceeds from a private placement. We continue to explore options to address liquidity shortfalls, including potential equity and debt financing arrangements. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Yahoo
06-05-2025
- Automotive
- Yahoo
Motorsport Games to Report First Quarter 2025 Financial Results
Motorsport Games Inc. Motorsport Games to Report First Quarter 2025 Financial Results Motorsport Games is set to report their Q1 2025 Financial Results on Friday 9th May 2025 MIAMI, May 06, 2025 (GLOBE NEWSWIRE) -- Motorsport Games Inc. (NASDAQ: MSGM) ('Motorsport Games' or 'the Company'), a racing game developer, publisher and esports ecosystem provider of official motorsport racing series, will report its financial results for the first quarter of 2025 on Friday, May 9, 2025 after market close. Management will host a conference call and webcast on the same day at 5:00 p.m. ET to discuss the results. Participants may access the webcast on the Company's investor relations website at under 'Events.' This webcast will be available live and remain accessible as a recording for 12 months following the date of the call. The call may also be accessed live by dialing 1-800-267-6316 or 1-203-518-9783 and using Conference ID 'MOTOR'. About Motorsport Games: Motorsport Games is a racing game developer, publisher and esports ecosystem provider of official motorsport racing series. Combining innovative and engaging video games with exciting esports competitions and content for racing fans and gamers, Motorsport Games strives to make racing games that are authentically close to reality. The Company is the officially licensed video game developer and publisher for iconic motorsport racing series including the 24 Hours of Le Mans and the FIA World Endurance Championship, recently releasing Le Mans Ultimate in Early Access. Motorsport Games also owns the industry leading rFactor 2 and KartKraft simulation platforms. rFactor 2 also powers F1® Arcade through a partnership with Kindred Concepts. Motorsport Games is also an award-winning esports partner of choice for the 24 Hours of Le Mans, creating the renowned Le Mans Virtual Series. Motorsport Games is building a virtual racing ecosystem where each product drives excitement, every esports event is an adventure, and every race inspires. For more information about Motorsport Games visit: . Website and Social Media Disclosure : Investors and others should note that the Company announces material financial information to its investors using its investor relations website ( SEC filings, press releases, public conference calls and webcasts. The Company uses these channels, as well as social media and blogs, to communicate with its investors and the public about the Company and its products. It is possible that the information the Company posts on its websites, social media and blogs could be deemed to be material information. Therefore, the Company encourages investors, the media and others interested in the Company to review the information it posts on the websites, social media channels and blogs, including the following (which list the Company will update from time to time on its investor relations website):
Yahoo
07-03-2025
- Automotive
- Yahoo
Motorsport Games Inc. Announces Summary Judgment in its Favor in Dispute with Innovate 2 Corp
MSGM Summary Judgement in Dispute with Innovate 2 Corp MIAMI, March 07, 2025 (GLOBE NEWSWIRE) -- Motorsport Games Inc. (NASDAQ: MSGM), a racing game developer and publisher, announces that on February 26, 2025, the U.S. District Court for the District of Delaware (the 'Court') granted the summary judgment motion in favor of Motorsport Games Inc. (the 'Company') and the other defendants, the Company's former Chief Executive Officer and Executive Chairman, the Company's former Chief Financial Officer, and the Manager of Driven Lifestyle Group LLC., in the case titled Innovate 2 Corp., Motorsport Games Inc., et al., No. 1:21-cv-165-SB. The judgment entered by the Court held in favor of the Company and the other defendants on all counts and granted the Company summary judgment against Innovate 2 Corp. on the Company's claim for breach of the stock purchase agreement entered into between the parties. The Court ordered the parties to submit a joint status report on March 12, 2025 regarding the remaining issues in the case, including Motorsport's damages on its counterclaim. Stephen Hood, President and Chief Executive Officer of Motorsport Games Inc. commented, 'It is pleasing to receive this judgement from the Court in this matter. The Company and its former representatives have always maintained they acted in good faith and the Judge's ruling supports this.' 'Our restructured Company is pleased to put this matter behind us and continue to focus on making great racing game experiences, such as Le Mans Ultimate, as we continue to build on its promising foundation.' About Motorsport Games: Motorsport Games is a racing game developer, publisher and esports ecosystem provider of official motorsport racing series. Combining innovative and engaging video games with exciting esports competitions and content for racing fans and gamers, Motorsport Games strives to make racing games that are authentically close to reality. The Company is the officially licensed video game developer and publisher for iconic motorsport racing series including the 24 Hours of Le Mans and the FIA World Endurance Championship, recently releasing Le Mans Ultimate in Early Access. Motorsport Games also owns the industry leading rFactor 2 and KartKraft simulation platforms. rFactor 2 also serves as the official sim racing platform of Formula E, while also powering F1 Arcade through a partnership with Kindred Concepts. Motorsport Games is also an award-winning esports partner of choice for the 24 Hours of Le Mans, creating the renowned Le Mans Virtual Series. Motorsport Games is building a virtual racing ecosystem where each product drives excitement, every esports event is an adventure, and every race inspires. For more information about Motorsport Games visit: Forward-Looking Statements Certain statements in this press release which are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are provided pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as 'continue,' 'will,' 'may,' 'could,' 'should,' 'expect,' 'expected,' 'plans,' 'intend,' 'anticipate,' 'believe,' 'estimate,' 'predict,' 'potential,' and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, but are not limited to, the statements concerning making great racing game experiences, continuing to build on Le Mans Ultimate's promising foundation and making racing games that are authentically close to reality. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Motorsport Games and are difficult to predict. Examples of such risks and uncertainties include, without limitation, the ability to make racing games that are authentically close to reality. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in Motorsport Games' filings with the Securities and Exchange Commission (the 'SEC'), including its Annual Report on Form 10-K for the fiscal year ended December 312023, as well as in its subsequent filings with the SEC. Motorsport Games anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Motorsport Games assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law. Forward-looking statements speak only as of the date they are made and should not be relied upon as representing Motorsport Games' plans and expectations as of any subsequent date. Additionally, the business and financial materials and any other statement or disclosure on, or made available through, Motorsport Games' website or other websites referenced or linked to this press release shall not be incorporated by reference into this press release. Website and Social Media Disclosure Investors and others should note that we announce material financial information to our investors using our investor relations website ( SEC filings, press releases, public conference calls and webcasts. We use these channels, as well as social media and blogs, to communicate with our investors and the public about our company and our products. It is possible that the information we post on our websites, social media and blogs could be deemed to be material information. Therefore, we encourage investors, the media and others interested in our company to review the information we post on the websites, social media channels and blogs, including the following (which list we will update from time to time on our investor relations website): Website Social Media Twitter: @msportgames Instagram: msportgames Facebook: Motorsport Games LinkedIn: Motorsport Games The contents of these websites and social media channels are not part of, nor will they be incorporated by reference into, this press release. Contacts: Investors: Investors@ Media: PR@ A photo accompanying this announcement is available at in to access your portfolio
Yahoo
25-02-2025
- Automotive
- Yahoo
Le Mans Ultimate Bolsters LMGT3 Content with Porsche 911 GT3 R, Aston Martin Vantage AMR and FREE Ford Mustang
Le Mans Ultimate Bolsters LMGT3 Content with Porsche 911 GT3 R, Aston Martin Vantage AMR and FREE Ford Mustang MIAMI, Feb. 25, 2025 (GLOBE NEWSWIRE) -- Motorsport Games Inc. (NASDAQ: MSGM) ('Motorsport Games' or 'the Company') is today releasing the next update for 'Le Mans Ultimate', the official game of the FIA World Endurance Championship and the 24 Hours of Le Mans. This latest update increases the content available to players by adding three more LMGT3 category cars along with significant quality of life improvements. Head-turning LMGT3 machinery from supercar manufacturers Porsche and Aston Martin form the contents of '2024 Pack 4'. The Aston Martin Vantage AMR LMGT3 is a second-generation car from the famous British marque, ever present in sportscar racing. From Porsche, the 911 GT3 R LMGT3, powered by the iconic flat-6 engine, won the 2024 edition of the iconic 24 Hours of Le Mans and the FIA World Endurance Trophy in the LMGT3 category. Both cars offer distinct racing experiences based on highly detailed physics development and unique car attributes. Additionally, the distinctive Ford Mustang LMGT3 muscle car, will be added for free for all Early Access players, as a separate DLC item available directly on the Steam store. This car joins the other free LMGT3 car, the McLaren 720S LMGT3 Evo, released to all players in the December update. Both cars will allow players to compete against drivers and AI in DLC cars in both online and offline race modes. Significant physics development has been undertaken to the LMGT3 tyre model in this release. Players can expect the overall feeling to be more realistic and stable, following extensive collaboration with real-world drivers and the incorporation of detailed real-world data provided. 2024 Pack 4 is on sale at an early access price of £5.99 / €6.49 / $6.99 or users can purchase the Season Pass for £39.99 / €46.99 / $48.99. The Season Pass includes five packs in total with Pack 1, 2 and 3 already released in July, September, and December 2024 respectively. The RaceControl Pro+, available at also unlocks DLC content whilst the subscription is live, offering players more choice about how they access this content. The remaining '2025 Pack 5' is expected for players to enjoy in May 2025 and is scheduled to include one additional circuit (Lusail International Circuit) and two more LMGT3 cars. This will coincide with the next major game update, also scheduled for May 2025 and expected to include highly anticipated features requested by the community, including live multiplayer driver swaps and team functionality. 'As always, we are delighted to bring more content and improvements to Le Mans Ultimate,' commented Stephen Hood, CEO and President of Motorsport Games. 'The last update in December 2024 brought a significant increase in players to the game whilst increasing play time and reducing churn. We believe these improvements, new cars and additional circuit layouts will delight the game's fans and keep them engaged with a game that continues to move in a positive direction.' To purchase Le Mans Ultimate, the Season Pass, or individual DLC Packs, visit Le Mans Ultimate on Steam. Head to to configure private servers or subscribe RaceControl Pro or Pro+, the latter of which unlocks all DLC content with a live subscription. About Motorsport Games: Motorsport Games is a racing game developer, publisher and esports ecosystem provider of official motorsport racing series. Combining innovative and engaging video games with exciting esports competitions and content for racing fans and gamers, Motorsport Games strives to make racing games that are authentically close to reality. The Company is the officially licensed video game developer and publisher for iconic motorsport racing series including the 24 Hours of Le Mans and the FIA World Endurance Championship, recently releasing Le Mans Ultimate in Early Access. Motorsport Games also owns the industry leading rFactor 2 and KartKraft simulation platforms. rFactor 2 also powers F1® Arcade through a partnership with Kindred Concepts. Motorsport Games is also an award-winning esports partner of choice for the 24 Hours of Le Mans, creating the renowned Le Mans Virtual Series. Motorsport Games is building a virtual racing ecosystem where each product drives excitement, every esports event is an adventure, and every race inspires. For more information about Motorsport Games visit: Forward Looking Statements Certain statements in this press release which are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are provided pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as 'continue,' 'will,' 'may,' 'could,' 'should,' 'expect,' 'expected,' 'plans,' 'intend,' 'anticipate,' 'believe,' 'estimate,' 'predict,' 'potential,' and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, but are not limited to, the statements concerning players expecting the overall feeling of the update for 'Le Mans Ultimate' to be more realistic and stable, the remaining '2025 Pack 5' being expected for players to enjoy in May 2025 and including one additional circuit (Lusail International Circuit) and two more LMGT3 cars, the next major game update being scheduled for May 2025, the next update including highly anticipated features requested by the community, including live multiplayer driver swaps and team functionality, the improvements, new cars and additional circuit layouts delighting the game's fans and keeping them engaged with a game that continues to move in a positive direction, making racing games that are authentically close to reality and building a virtual racing ecosystem where each product drives excitement, every esports event is an adventure, and every race inspires. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Motorsport Games and are difficult to predict. Examples of such risks and uncertainties include, without limitation, the ability to release the remaining '2025 Pack 5' and next major game update as scheduled, the ability to include in the next game update features requested by the community, including live multiplayer driver swaps and team functionality, and the ability to make racing games that are authentically close to reality and build a virtual racing ecosystem where each product drives excitement, every esports event is an adventure, and every race inspires. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in Motorsport Games' filings with the Securities and Exchange Commission (the 'SEC'), including its Annual Report on Form 10-K for the fiscal year ended December 312023, as well as in its subsequent filings with the SEC. Motorsport Games anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Motorsport Games assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law. Forward-looking statements speak only as of the date they are made and should not be relied upon as representing Motorsport Games' plans and expectations as of any subsequent date. Additionally, the business and financial materials and any other statement or disclosure on, or made available through, Motorsport Games' website or other websites referenced or linked to this press release shall not be incorporated by reference into this press release. Website and Social Media Disclosure Investors and others should note that we announce material financial information to our investors using our investor relations website ( SEC filings, press releases, public conference calls and webcasts. We use these channels, as well as social media and blogs, to communicate with our investors and the public about our company and our products. It is possible that the information we post on our websites, social media and blogs could be deemed to be material information. Therefore, we encourage investors, the media and others interested in our company to review the information we post on the websites, social media channels and blogs, including the following (which list we will update from time to time on our investor relations website): Websites Social Media Twitter: @msportgames Instagram: msportgames Facebook: Motorsport Games LinkedIn: Motorsport Games The contents of these websites and social media channels are not part of, nor will they be incorporated by reference into, this press release. Contacts: Investors:Investors@ Media:PR@ A photo accompanying this announcement is available at
