Latest news with #rFactor2
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
14-03-2025
- Automotive
- Yahoo
Motorsport Games to Report Fourth Quarter and Full Year 2024 Financial Results
Motorsport Games to Report Fourth Quarter and Full Year 2024 Financial Results MIAMI, March 14, 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 fourth quarter and full year 2024 fiscal year on Thursday, March 20, 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): Websites Social Media Twitter: @msportgames Instagram: msportgames Facebook: Motorsport Games LinkedIn: Motorsport GamesThe 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
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
04-02-2025
- Automotive
- Yahoo
Motorsport Games Inc. Announces Business Updates and Preliminary 2024 Results
Motorsport Games Inc. Announces Business Updates and Preliminary 2024 Results MIAMI, Feb. 04, 2025 (GLOBE NEWSWIRE) -- Motorsport Games Inc. (NASDAQ: MSGM), a racing game developer and publisher, today announced operational, financial and other business updates. Recent Highlights and Accomplishments Expected to generate fourth quarter 2024 revenues ranging from $1.8 million to $2.1 million and full year 2024 total revenues ranging from $8.5 million to $8.8 million; Recorded strong revenues during December, boosted by the release of new content for Le Mans Ultimate, a title still in early access that has surpassed 100,000 net unit sales; Launched a new subscription option within our growing RaceControl platform, our online service providing multiplayer and community related features in support of our game titles; Recorded cash from RaceControl's new subscription offering exceeding internal forecasts, reflecting strong user engagement and demand for integrated services of this type; and The Company expects to continue expanding Le Mans Ultimate throughout at least 2025 given the positive market reception and strong attachment rate of additional content offerings. Stephen Hood, CEO of Motorsport Games, stated, 'We ended the year with strong momentum and with player enthusiasm for Le Mans Ultimate high as a result of the new content and features delivered in December. These preliminary quarterly and full year 2024 results reflect our continued focused strategy to create great gaming experiences whilst streamlining our business costs. We aim to further this positive course and our concerted efforts in the racing game market with rFactor 2, Le Mans Ultimate and our partnership with Kindred Concepts (F1® Arcade) into 2025.' Mr. Hood further stated, 'Management and the Board continue to engage with potential investors about financing and strategic partnerships as we consider strategic alternatives to maximize shareholder value. This includes a potential sale or merger of the Company and to seek funding that would allow us to deliver on viable opportunities to grow revenue, including expanding on the early success of Le Mans Ultimate and potentially bring it to Sony PlayStation and Microsoft Xbox gaming consoles and reach a larger potential gaming market.' 2024 Financial Results The Company currently expects to report revenues ranging from $1.8 million to $2.1 million for the fourth quarter of 2024, and from $8.5 million to $8.8 million for the year ended December 31, 2024. During the fourth quarter and year ended December 31, 2023, the Company reported revenues of $1.7 million and $6.9 million, respectively. Total operating expenses are expected to range from $2.0 million to $2.4 million for the fourth quarter of 2024, and from $11.1 million to $11.5 million for the year ended December 31, 2024. During the fourth quarter and year ended December 31, 2023, the Company reported total operating expenses of $3.8 million and $22.7 million, respectively. Net loss is expected to range from $2.5 million to $2.9 million for the fourth quarter of 2024, and from $2.6 million to $3.0 million for the year ended December 31, 2024. During the fourth quarter and year ended December 31, 2023, the Company reported net income of $2.7 million and net loss of $14.3 million, respectively. The Company expects to report its full fourth quarter and fiscal year 2024 financial results later this quarter. The preliminary financial results described in this update have not been audited and are subject to adjustment based on the Company's completion of year-end financial close processes. 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 the preliminary financial results on an unaudited basis for the quarter and year ending December 31, 2024, including anticipated revenues ranging from $1.8 million to $2.1 million for the fourth quarter of 2024, and from $8.5 million to $8.8 million for the year ended December 31, 2024; total operating expenses ranging from $2.0 million to $2.4 million for the fourth quarter of 2024, and from $11.1 million to $11.5 million for the year ended December 31, 2024; and net loss ranging from $2.5 million to $2.9 million for the fourth quarter of 2024, and from $2.6 million to $3.0 million for the year ended December 31, 2024. These preliminary results are based on the most current information available to management and are subject to completion of the financial closing procedures. Further, these preliminary estimates are not a comprehensive statement or estimate of the Company's financial results or financial condition as of and for the year ended December 31, 2024. The unaudited preliminary financial information included herein has been prepared by, and is the responsibility of, management. The Company's independent registered public accounting firm has not audited, reviewed, compiled or completed its procedures with respect to such unaudited financial information and, accordingly, such firm does not express an opinion or any other form of assurance with respect thereto. Actual results may differ from these preliminary results. Accordingly, you should not place undue reliance on these preliminary estimates. The company assumes no obligation to update these preliminary estimates except as required by law. 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 Company's ability to achieve the preliminary results provided. 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 31, 2023, 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 in to access your portfolio
