Financial Performance - Total revenues for Q3 2024 reached $2.2 million, a 93% increase from $1.1 million in Q3 2023[3] - Total revenues for Q3 2024 reached $2,163,541, a 93.2% increase from $1,119,959 in Q3 2023[20] - Net loss for Q3 2024 was $4.0 million, compared to net income of $0.1 million in the prior year, largely due to a $3.0 million settlement and $1.2 million in unrealized foreign currency losses[5] - Net loss attributable to common stockholders for Q3 2024 was $(4,027,941), compared to a profit of $75,246 in Q3 2023[20] - Net loss for the three months ended September 30, 2024, was $(4,028,622), compared to a net income of $75,246 for the same period in 2023[23] - The company reported a pre-tax net loss of $(4,361,484) for Q3 2024, compared to a profit of $75,246 in Q3 2023[20] - The company reported a total loss of $(9,741,024) for the nine months ended September 30, 2024, compared to $(2,585,005) in 2023[23] Revenue Streams - In-person event revenues at HyperX Arena increased by $0.2 million, while casual mobile gaming revenues rose by $0.8 million due to strategic investment in Z-Tech[3] - Casual mobile gaming revenue was $817,986 in Q3 2024, compared to $0 in Q3 2023, indicating a new revenue stream[20] Costs and Expenses - Total costs and expenses for Q3 2024 were $3.3 million, up from $1.8 million in the prior year, primarily driven by the investment in Z-Tech[4] - Total costs and expenses for Q3 2024 were $3,344,114, up from $1,760,218 in Q3 2023, indicating rising operational costs[20] - Research and development expenses for Q3 2024 were $158,162, compared to $0 in Q3 2023, highlighting increased investment in innovation[20] - Stock compensation expenses increased to $229,731 for the three months ended September 30, 2024, compared to $64,623 in 2023[23] - Depreciation and amortization expenses rose to $401,452 for the three months ended September 30, 2024, from $239,413 in 2023[23] Cash and Assets - As of September 30, 2024, the company had cash and short-term investments of $80.2 million, up from $78.6 million at the end of 2023[7] - Total current assets increased to $102,805,701 as of September 30, 2024, up from $78,341,061 at December 31, 2023, representing a 31.4% growth[19] - Cash and cash equivalents decreased to $10,992,235 as of September 30, 2024, down from $16,320,583 at December 31, 2023[19] - Total assets increased to $129,827,256 as of September 30, 2024, compared to $112,016,687 at December 31, 2023, reflecting overall growth[19] Strategic Initiatives - A strategic investment was announced with Yellow River Global Capital to enhance growth opportunities in location-based entertainment and content acquisition[9] - Future growth opportunities are being actively pursued in collaboration with Yellow River, focusing on digital technologies and entertainment content[9] - The company is preparing for the inaugural World Mahjong Tour events starting next month and developing new mobile game titles[2] Losses and Legal Fees - Non-recurring legal fees amounted to $102,854 for the three months ended September 30, 2024[24] - Loss on foreign currency for the three months ended September 30, 2024, was $1,213,446[24] - The company incurred a loss of $3,000,000 related to the settlement of the Brookfield agreement during the nine months ended September 30, 2024[23] EBITDA - Adjusted EBITDA loss was $0.1 million for Q3 2024, an improvement from a loss of $1.4 million in the prior quarter and a loss of $0.3 million in Q3 2023[6] - Adjusted EBITDA for the nine months ended September 30, 2024, was $(4,566,183), a decline from $(3,583,677) in 2023[23] - EBITDA for the three months ended September 30, 2024, was $(4,660,532), significantly worse than $(401,234) in the same period of 2023[23] - Interest income, net, for the three months ended September 30, 2024, was $(1,033,362), compared to $(715,893) in 2023[23]

Financial Data and Key Metrics - Total revenues for Q2 2024 were $2.6 million, up 11% from Q1 2024 but down 19% from Q2 2023 [10] - The year-over-year revenue decline was primarily due to a $2 million decrease in branded content production revenues, partially offset by a $1.7 million increase in casual mobile gaming revenues from Z-Tech [10] - Total costs and expenses for Q2 2024 were $7.9 million, up from $4.7 million in Q2 2023, with $3 million of the increase attributed to litigation costs related to Knighted Pastures' hostile takeover attempt [10] - Net loss for Q2 2024 was $3.9 million, compared to a loss of $1.8 million in Q1 2024 and $0.7 million in Q2 2023 [11] - Adjusted EBITDA loss for Q2 2024 was $1.4 million, compared to a loss of $1.7 million in Q1 2024 and $1.1 million in Q2 2023 [11] - Cash and short-term investments totaled $95.2 million as of June 30, 2024, up from $78.6 million at December 31, 2023, primarily due to low and non-interest-bearing loans from Morgan Stanley Bank Asia Limited [12] - Working capital surplus was $61.8 million as of June 30, 2024, compared to $66.4 million at December 31, 2023 [12] Business Line Performance - HyperX Arena hosted 65 event dates in Q2 2024, including 40 third-party events, with notable events such as the WPT Seminole Hard Rock Poker Showdown and the Mobile Legends Bang Bang 2024 North America Challenger Tournament Spring Grand Finale [6] - Z-Tech, the casual mobile gaming subsidiary, saw a 53% increase in Q2 in-game ad revenue compared to Q1 2024, driven by the release of the new game Balloon Pop Mania [8] - The company announced the launch of the World Mahjong Tour (WMT), modeled after the World Poker Tour, with regional tournaments leading to a final event at HyperX Arena in spring 2025 [7] Market and Strategic Initiatives - The World Mahjong Tour (WMT) is expected to leverage the company's expertise in mobile games, content production, and membership services, aiming to capitalize on the resurging popularity of mahjong, particularly among younger generations [7] - Allied Experiential Entertainment (AEE) is in negotiations to partner with a popular annual music festival in Macau, expanding its opportunities in Asia [7] - Z-Tech's momentum in casual mobile gaming is expected to drive sustained revenue growth in the second half of 2024 [8] Management Commentary - The CEO expressed optimism about the company's upward trajectory, particularly with the launch of the World Mahjong Tour and the strong performance of Z-Tech [5][13] - The CFO highlighted the impact of litigation costs on expenses but noted the company's strong cash position and working capital surplus [10][12] Other Important Information - The company emphasized its focus on non-GAAP financial measures, with reconciliations and explanations provided in the earnings release [4] - The CEO reiterated confidence in the management team's ability to lead the company forward, with all three subsidiaries expected to capitalize on revenue opportunities in the near future [13] Q&A Session - No questions or answers were provided in the transcript [14]

Revenue Performance - Total revenues for the three months ended June 30, 2024, were approximately $2.64 million, a decrease of 19% from $3.27 million in the same period of 2023[129]. - In-person experience revenues decreased by approximately $0.4 million, or 28%, to approximately $0.9 million for the three months ended June 30, 2024, from approximately $1.3 million for the same period in 2023[130]. - Casual mobile gaming revenue was $1.7 million for the three months ended June 30, 2024, compared to $0 million for the same period in 2023, attributed to the business combination with ZTech[132]. - Multiplatform content revenue was $0 for the three months ended June 30, 2024, down from $2.0 million in the same period of 2023, due to the absence of a live streaming event[131]. - Total revenues increased by approximately $0.6 million, or 12.5%, to $5.0 million for the six months ended June 30, 2024, compared to $4.5 million for the same period in 2023[142]. - In-person experience revenues decreased by approximately $0.3 million, or 12%, to approximately $2.2 million for the six months ended June 30, 2024, driven by fewer events held[143]. - Casual mobile gaming revenue was $2.9 million for the six months ended June 30, 2024, compared to $0.0 million for the same period in 2023, attributed to the business combination with ZTech[145]. Expenses and Losses - General and administrative expenses increased by approximately $3.0 million, or 136%, to approximately $5.2 million for the three months ended June 30, 2024, primarily due to legal and professional fees[137]. - Total costs and expenses for the three months ended June 30, 2024, were approximately $7.93 million, an increase of 70% from $4.66 million in the same period of 2023[129]. - Net loss attributable to common stockholders for the three months ended June 30, 2024, was approximately $3.8 million, compared to a net loss of $0.69 million for the same period in 2023[129]. - General and administrative expenses increased by approximately $3.3 million, or 70%, to approximately $8.1 million for the six months ended June 30, 2024, primarily due to increased legal and professional fees[150]. - Net loss attributable to common stockholders was approximately $5.5 million for the six months ended June 30, 2024, compared to a net loss of $2.6 million for the same period in 2023[156]. Cash Flow and Assets - Net cash used in operating activities increased to approximately $4.5 million for the six months ended June 30, 2024, from $3.0 million in 2023, reflecting a higher net loss[164]. - Net cash provided by financing activities was approximately $19.8 million for the six months ended June 30, 2024, compared to a net cash used of approximately $1.9 million in 2023[167]. - Current assets increased to approximately $94.7 million as of June 30, 2024, from $78.3 million as of December 31, 2023[155]. - Working capital surplus decreased to approximately $61.8 million as of June 30, 2024, from $66.4 million as of December 31, 2023[156]. Accounting Estimates and Risks - The company considers accounting for goodwill impairment to be a critical accounting estimate due to the high uncertainty involved and potential material impact on financial results[170]. - There are additional items within the financial statements that require estimation but are not deemed critical[170]. - The company has identified that changes in accounting estimates could materially affect financial condition or results of operations[170]. - The company has not disclosed any quantitative and qualitative disclosures about market risk in this report[171].

Financial Performance - Total revenues for Q2 2024 were $2.6 million, an 11% increase from $2.4 million in Q1 2024, but a 19% decrease from $3.3 million in Q2 2023[3] - Net loss for Q2 2024 was $3.9 million, compared to a net loss of $0.7 million in the same period last year[5] - Adjusted EBITDA loss was $1.4 million for Q2 2024, an improvement from a loss of $1.7 million in Q1 2024 and a loss of $1.1 million in Q2 2023[5] - The net loss attributable to common stockholders for Q2 2024 was $3,803,258, compared to a loss of $691,218 in Q2 2023, representing a substantial increase in losses[24] - Adjusted EBITDA for Q2 2024 was $(1,381,379), a decline from $(1,127,270) in Q2 2023, indicating ongoing operational challenges[28] Revenue Breakdown - Casual mobile gaming revenue reached $1,722,454 in Q2 2024, with a total of $2,846,258 for the first half of 2024, indicating strong growth[24] - Total revenues for Q2 2024 were $2,639,868, a decrease of 19.2% compared to $3,268,095 in Q2 2023[24] Expenses and Costs - Total costs and expenses increased by 70% year-over-year to $7.9 million, primarily due to a $3.0 million rise in general and administrative expenses[4] - Total costs and expenses increased to $7,930,120 in Q2 2024, up from $4,663,326 in Q2 2023, reflecting a significant rise of 69.0%[24] - General and administrative expenses surged to $5,236,160 in Q2 2024, compared to $2,223,025 in Q2 2023, marking an increase of 135.5%[24] - Research and development expenses totaled $173,533 in Q2 2024, highlighting the company's commitment to innovation despite financial losses[24] Cash and Investments - Cash and short-term investments as of June 30, 2024, were $95.2 million, up from $78.6 million at the end of 2023[6] - Working capital position decreased to $61.8 million as of June 30, 2024, from $66.4 million at the end of 2023[6] - Total assets increased to $126.7 million as of June 30, 2024, compared to $112.0 million at the end of 2023[22] Shareholder Information - The company had approximately 38.2 million shares of outstanding common stock as of June 30, 2024[6] - The weighted average number of common shares outstanding increased to 43,212,071 in Q2 2024 from 37,199,100 in Q2 2023, reflecting potential dilution for existing shareholders[24] Events and Initiatives - The company announced the launch of the World Mahjong Tour, with the first event scheduled for spring 2025 at HyperX Arena[8] - HyperX Arena hosted 65 event days in Q2 2024, including 25 proprietary and 40 third-party events[7] Other Financial Metrics - Interest income for Q2 2024 was $1,041,468, up from $715,126 in Q2 2023, indicating improved financial management[28] - The company reported a gain of $351,434 on foreign currency transactions in Q2 2024, contributing positively to the overall financial results[24]

Revenue Performance - Total revenues for the three months ended March 31, 2024, increased by approximately $1.2 million, or 99%, to $2.4 million compared to $1.2 million for the same period in 2023[111] - In-person experience revenues rose by approximately $62 thousand, or 5%, to approximately $1.3 million, driven by increased sponsorship and event revenue[112] - Casual mobile gaming revenue was $1.1 million for the three months ended March 31, 2024, compared to $0 for the same period in 2023, attributed to the business combination with Z-Tech[112] Expense Overview - Total costs and expenses increased by approximately $1.2 million, or 31%, to $5.1 million for the three months ended March 31, 2024, compared to $3.8 million in 2023[111] - General and administrative expenses increased by approximately $0.3 million, or 12%, to approximately $2.9 million, primarily due to increased stock-based compensation and legal fees[116] - Research and development expenses were $195 thousand for the three months ended March 31, 2024, compared to $0 in the same period in 2023, reflecting investment in new mobile game development[115] Net Loss and Financial Position - Net loss attributable to common stockholders decreased by approximately $195 thousand, or 10%, to $1.7 million for the three months ended March 31, 2024, compared to $1.9 million in 2023[111] - The net loss for the three months ended March 31, 2024, was approximately $1.8 million, compared to a net loss of $1.9 million for the same period in 2023[125] - As of March 31, 2024, the company had cash of approximately $7.3 million and working capital of approximately $67.2 million[120] Cash Flow Analysis - Net cash used in operating activities for the three months ended March 31, 2024, was approximately $2.1 million, an increase of $1.1 million compared to $1.0 million in the same period of 2023[125] - Net cash used in investing activities for the three months ended March 31, 2024, was approximately $14.5 million, significantly higher than $5.1 million in the same period of 2023[126] - Net cash provided by financing activities for the three months ended March 31, 2024, was approximately $7.6 million, a turnaround from the net cash used of $1.5 million in the same period of 2023[127] Financing Activities - The company entered into a Share Purchase Agreement for the sale of 7,330,000 shares at $0.90 per share, totaling $6.6 million, with an initial payment of $2 million received[107][108] - The credit facility was increased to $20 million, with an additional borrowing of approximately $6.3 million on March 15, 2024, at a fixed interest rate of 0.3% per annum[122] Accounting and Risk Disclosures - The company does not engage in any off-balance sheet financing activities[128] - The financial statements are prepared in accordance with U.S. generally accepted accounting principles, requiring management to make estimates that could materially impact financial condition[129] - The company considers certain accounting estimates to be critical due to the uncertainty involved and potential material impact on financial results[130] - There were no applicable quantitative and qualitative disclosures about market risk[131]

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 ...