Financial Performance - Allied Gaming & Entertainment Inc. announced its financial results for the fiscal quarter ended March 31, 2024[3] - The company reported a revenue increase of 15% year-over-year, reaching $25 million for the quarter[3] - The company provided a positive outlook, projecting a revenue growth of 10-15% for the next quarter[3] User Growth - User data showed a growth in active users by 20%, totaling 1.2 million active users[3] Product and Revenue Development - New product launches are expected to contribute an additional $5 million in revenue by Q2 2024[3] - The company is investing $2 million in technology development to enhance user experience[3] Market Expansion and Strategy - Market expansion plans include entering two new states by the end of 2024[3] - Allied Gaming is exploring potential acquisition opportunities to strengthen its market position[3] Operational Efficiency - The company aims to improve operational efficiency, targeting a 5% reduction in costs by Q3 2024[3] Commitment to Shareholders - Management emphasized a commitment to shareholder value through strategic initiatives and growth plans[3]

Financial Performance - Total revenues for the year ended December 31, 2023, increased by approximately $1.3 million, or 20.5%, to $7.7 million compared to $6.4 million in 2022[158]. - Multiplatform content revenues rose by approximately $0.6 million, or 43%, to $2 million in 2023, driven by additional revenue from Season 2 of Elevated, which had 10 episodes compared to 4 in 2022[160]. - Casual mobile games revenue was $0.7 million for the year ended December 31, 2023, following the business combination with ZTech on October 31, 2023[161]. - Interest income increased by approximately $2.2 million, or 274%, to approximately $3 million for the year ended December 31, 2023, due to interest earned on short-term investments[171]. - Net loss for the year ended December 31, 2023, was approximately $3.6 million, a significant improvement compared to a net loss of $10.8 million in 2022[175]. Expenses and Cash Flow - General and administrative expenses decreased by approximately $3.2 million, or 30%, to $7.6 million in 2023, attributed to various cost reductions and an ERC credit recognized[166]. - Cash used in operating activities decreased by $2.8 million to approximately $8.1 million in 2023, reflecting improved operational efficiency[179]. - Net cash provided by financing activities for the year ended December 31, 2023 was approximately $7.1 million, compared to a net cash used of approximately $0.6 million in 2022[182]. Assets and Liabilities - Current assets as of December 31, 2023, were approximately $78.3 million, while current liabilities increased to approximately $12.0 million, resulting in a working capital surplus of approximately $66.4 million[174]. - The Company had no material commitments for capital expenditures as of December 31, 2023[184]. Stock and Repurchase Program - The total number of shares repurchased during the years ended December 31, 2023 and 2022 was 1,698,038 and 581,746, respectively, at an average price of $1.18 per share[185]. - As of December 31, 2023, the dollar value of shares available for repurchase under the stock repurchase program is $7,306,347[185]. - The stock repurchase program is authorized for up to $10 million through November 17, 2024, based on market conditions[185]. Tax and Compliance - The Company assesses uncertain tax positions based on ASC 740, which may impact financial statements due to potential future obligations[193]. - The effective income tax rate is influenced by the mix of income and losses in U.S. and non-U.S. entities[190]. - The Company does not engage in off-balance sheet financing activities[186]. Operations and Future Plans - The company expects to continue expanding its marketing efforts and operations in new geographies and vertical markets, which may require significant capital expenditures[156]. - The company operates a flagship gaming arena in Las Vegas and has a mobile esports arena, enhancing its ability to host diverse events and connect with gamers[157]. - The Company reviews long-lived assets for impairment whenever events indicate that the carrying amount may not be recoverable[197].

Financial Data and Key Metrics Changes - Total revenues for 2023 were $7.7 million, an increase of 21% from 2022 [7][17] - Net loss attributable to common stockholders decreased by 68%, from $10.8 million in 2022 to $3.6 million in 2023 [7][18] - General and administrative expenses improved by 30% in 2023 [7] - Adjusted EBITDA loss for 2023 was $4.6 million, down from a loss of $8.6 million in 2022 [19] Business Line Data and Key Metrics Changes - Allied Esports International hosted 64 events in Q4 2023, including 30 proprietary and 34 third-party events [8] - Allied Mobile Entertainment integrated Z-Tech, which had revenue of $17 million and positive net income in 2023 [11][12] - Allied Experiential Entertainment formed a joint venture, Skyline Music Entertainment Limited, to capitalize on the entertainment industry in Asia [12] Market Data and Key Metrics Changes - HyperX Arena saw increased demand, contributing to higher sponsorship revenues [17] - The partnership with Elite Fun Entertainment and other local companies aims to enhance event planning and operations in Asia [12][14] Company Strategy and Development Direction - The company is focused on growth through strategic investments and partnerships, particularly in the Asian market [12][14] - Continued emphasis on reducing expenses and improving financial performance across all business lines [7][18] - Plans to leverage the integration of Z-Tech to enhance distribution capabilities for mobile games [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's position for 2024, highlighting the integration of Z-Tech and ongoing demand for AEI properties [21][22] - The company believes its stock is undervalued and continues to repurchase shares as part of its strategy [15][20] Other Important Information - The company repurchased approximately 2.3 million shares between November 2022 and the end of 2023 [15] - The financial results for Q4 2023 showed revenues of $2.1 million, a 70% increase from the prior year [17] Summary of Q&A Session Question: No formal Q&A session for this event - There were no questions or answers recorded during the conference call [23]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): March 27, 2024 Allied Gaming & Entertainment Inc. (Exact name of registrant as specified in its charter) Delaware 001-38226 82-1659427 (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification No. ) 745 Fifth Avenue, Suite 500 New York, New York 10151 ...

NEW YORK--(BUSINESS WIRE)--Allied Gaming & Entertainment, Inc. (NASDAQ: AGAE) (the “Company” or “AGAE”), a global experiential entertainment company, today announced a partnership with World Poker Tour®, (“WPT®”), and Wynn Macau, in which the companies will work together to bring an inaugural WPT event to Macau. AGAE was instrumental in facilitating the collaboration and will assist in the marketing, production and management of this and future planned WPT events in conjunction with Wynn Macau. “‘We are ...

NEW YORK--(BUSINESS WIRE)--Allied Gaming & Entertainment, Inc. (Nasdaq: AGAE), a global experimental entertainment company, today announced that its Board of Directors has unanimously approved the adoption of a limited-duration shareholder rights plan (“Rights Plan”) under which shareholders will receive rights to purchase a new series of preferred stock in certain circumstances. The Company issued the following statement: In accordance with its fiduciary duties, our Board of Directors is firmly committed ...

NEW YORK--(BUSINESS WIRE)--Allied Gaming & Entertainment, Inc. (NASDAQ: AGAE) (the “Company” or “AGAE”), a global experiential entertainment company, today announced the debut event of its recently formed joint venture, Skyline Music Entertainment Limited (“Skyline”), hosting the opening leg of the first-ever China tour of the highly acclaimed and multiple Juno Award-winning band Walk off the Earth. “It’s a great pleasure to work with Walk off the Earth for their China tour that will mark the band’s firs ...

NEW YORK--(BUSINESS WIRE)--Allied Gaming & Entertainment, Inc. (NASDAQ: AGAE) (the “Company” or “AGAE”), a global experiential entertainment company, announced today that Elite Fun Entertainment Co. Ltd., a premier player in the Macau cultural and entertainment industry, has agreed to a strategic investment in AGAE. “We are thrilled to announce this investment by Elite Fun Entertainment, who has profound expertise in orchestrating live events across Asia, notably within China’s Greater Bay,” said Yinghua ...

Allied Gaming & Entertainment, Inc. (NASDAQ:AGAE) Q3 2023 Earnings Conference Call November 9, 2023 5:00 PM ET Company Participants Tyler Drew - Addo Investor Relations Yinghua Chen - CEO Roy Anderson - CFO Conference Call Participants Operator Good afternoon, and welcome to the Allied Gaming & Entertainment, Inc. Third Quarter 2023 Earnings Conference Call. [Operator Instructions] Please note, this event is being recorded. I would now like to turn the conference over to Tyler Drew of Addo Investor Relation ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to _______ Commission file number: 001-38226 ALLIED GAMING & ENTERTAINMENT INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 82-1659427 (State or ot ...