Q4 2024 Motorsport Games Inc Earnings Call Transcript
Key Points
- Le Mans Ultimate launched with strong potential and received positive feedback from consumers and industry influencers.
- Significant update to Le Mans Ultimate in December led to a surge in player numbers and positive reception.
- Organic growth achieved without investment in paid marketing, demonstrating strong word-of-mouth influence.
- Introduction of a subscription service via RaceControl.gg generated over $120,000 in gross revenues in the first 21 days.
- Settlement with Luminous improved financial position by $180,000 and resolved a long-standing issue.
- Net loss for the fourth quarter of 2024 was $2.9 million, a significant decrease compared to the prior year's net income.
- Adjusted EBITDA loss for the fourth quarter of 2024 was $2.5 million, compared to a positive adjusted EBITDA in the prior year.
- Cash position remains a concern with only $1.2 million as of February 28, 2025, insufficient to fund operations over the next year.
- Exploration of additional funding options indicates ongoing liquidity challenges.
- Net cash used in operations for 2024 was approximately $3.2 million, highlighting continued financial strain.
Thank you for standing by and welcome to Motorsport Games in fourth quarter and full year 2024 earnings call.
A section of our call has been pre-recorded. As such, cash use and operations for the year ended December 31, 2024, and our average monthly net cash burn from operations have been adjusted. This information will be updated at the end of the call during the Q&A session.
As a reminder, today's conference is being recorded. I would like to turn the conference over to Ben Rossiter-Turner from Motorsport Games. Please go ahead.
Thank you and welcome to Motorsport Games fourth quarter and full year 2024 earnings conference call and webcast. On today's call is Motorsport Games' Chief Executive Officer, Stephen Hood; and Chief Financial Officer, Stanley Beckley.
By now, everyone should have access to the company's fourth quarter and full year 2024 earnings press release filed today after market closed. This is available on the investor
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