Sales Performance - Motorsport Games Inc. achieved a milestone of 100,000 net unit sales of Le Mans Ultimate, the official game of the FIA World Endurance Championship[8]. Revenue Projections - The company anticipates fourth quarter 2024 revenues between $1.8 million and $2.1 million, compared to $1.7 million in the fourth quarter of 2023, representing an increase of approximately 5.9% to 23.5%[8]. - For the full year 2024, the expected revenues are between $8.5 million and $8.8 million, up from $6.9 million in 2023, indicating a growth of approximately 23.2% to 27.7%[8]. Operating Expenses - Total operating expenses for the fourth quarter of 2024 are projected to be between $2.0 million and $2.4 million, down from $3.8 million in the same quarter of 2023, reflecting a decrease of approximately 36.8% to 47.4%[8]. - For the full year 2024, total operating expenses are expected to range from $11.1 million to $11.5 million, a reduction from $22.7 million in 2023, indicating a decrease of approximately 51.1% to 51.0%[8]. Net Loss Expectations - The company expects a net loss of between $2.5 million and $2.9 million for the fourth quarter of 2024, compared to a net income of $2.7 million in the fourth quarter of 2023[8]. - For the full year 2024, the anticipated net loss is between $2.6 million and $3.0 million, a significant improvement from a net loss of $14.3 million in 2023[8]. Financial Reporting - The financial information provided is preliminary and has not been audited, indicating potential changes in the final audited results[10]. - The company is classified as an emerging growth company, which may affect its financial reporting and compliance requirements[5]. - Forward-looking statements regarding future performance are subject to various risks and uncertainties, which may lead to actual results differing materially from expectations[9].

Core Viewpoint - Motorsport Games Inc. reported strong momentum and player enthusiasm for its title Le Mans Ultimate, driven by new content and features released in December 2024, while focusing on streamlining business costs and exploring strategic partnerships to maximize shareholder value [3][16]. Financial Performance - The company expects fourth quarter 2024 revenues to range from $1.8 million to $2.1 million, and full year 2024 revenues to be between $8.5 million and $8.8 million, compared to $1.7 million and $6.9 million for the same periods in 2023 [4][16]. - Total operating expenses are anticipated to be between $2.0 million and $2.4 million for the fourth quarter of 2024, and from $11.1 million to $11.5 million for the full year 2024, down from $3.8 million and $22.7 million in the previous year [5][16]. - The expected net loss for the fourth quarter of 2024 is projected to be between $2.5 million and $2.9 million, with a full year net loss ranging from $2.6 million to $3.0 million, contrasting with a net income of $2.7 million and a net loss of $14.3 million in 2023 [6][16]. Business Developments - The company launched a new subscription option within its RaceControl platform, which exceeded internal forecasts in cash generation, indicating strong user engagement [16]. - Le Mans Ultimate has surpassed 100,000 net unit sales and is expected to continue expanding through at least 2025 due to positive market reception and strong demand for additional content [16].

MIAMI, Nov. 14, 2024 (GLOBE NEWSWIRE) -- Motorsport Games Inc. (NASDAQ: MSGM) (“Motorsport Games” or “the Company”) today reported financial results for its third quarter ended September 30, 2024. The Company has also posted the third quarter 2024 earnings slides highlighting key milestones that occurred during and subsequent to the period, which are accessible on the Company’s investor relations website. “The business has continued to take useful strides in Q3 2024 with further product updates, business st ...

MIAMI, Nov. 11, 2024 (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 third quarter of 2024 on Thursday, November 14, 2024 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 relatio ...

MIAMI, Oct. 04, 2024 (GLOBE NEWSWIRE) -- Motorsport Games Inc. (NASDAQ: MSGM) ("Motorsport Games" or "the Company") is announcing that the Board of Directors has authorized management to consider strategic alternatives to maximize shareholder value, including a potential sale or merger of the Company. Management is also seeking funding that would allow it to deliver on viable opportunities including bringing Le Mans Ultimate to Sony PlayStation and Microsoft Xbox gaming consoles. Le Mans Ultimate is the off ...

MIAMI, Sept. 24, 2024 (GLOBE NEWSWIRE) -- Motorsport Games Inc. (NASDAQ: MSGM) ("Motorsport Games" or "the Company") has released the September Update for "Le Mans Ultimate", the official game of the FIA World Endurance Championship and the 24 Hours of Le Mans. This latest update, available now, includes a new co-op game mode, a completed Hypercar grid, and the release of iconic new content for fans of sportscar and sim racing. New game features in this update include a newly released co-op mode that allows ...

MIAMI, Aug. 09, 2024 (GLOBE NEWSWIRE) -- Motorsport Games Inc. (NASDAQ: MSGM) ("Motorsport Games" or "the Company") today reported financial results for its second quarter ended June 30, 2024. The Company has also posted the second quarter 2024 earnings slides highlighting key milestones that occurred during and subsequent to the period, which are accessible on the Company's investor relations website. "We are pleased to have built upon the foundation that our successful launch of Le Mans Ultimate achieved ...

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 Champion ...

Core Points - The first DLC pack for 'Le Mans Ultimate' has been released, marking the beginning of four planned DLC releases for 2024, which can be purchased individually or as part of a discounted Season Pass [1][11] - The inaugural DLC pack is themed around the Italian "Tifosi" and includes the Imola Circuit, Lamborghini SC63 LMDH, and Peugeot 9X8 LMH, available at an early access price of £9.99 / €11.99 / $12.99 [2][11] - Motorsport Games continues to support its community with free updates, including the release of two GT3 cars for free download and quality-of-life fixes [3][11] Company Overview - Motorsport Games is a racing game developer and publisher, officially licensed for the 24 Hours of Le Mans and the FIA World Endurance Championship, and has recently released 'Le Mans Ultimate' in Early Access [13] - The company aims to create an engaging racing ecosystem that combines video games with esports competitions, enhancing the experience for racing fans and gamers [13] Future Plans - Three additional DLC packs are expected to be released in September/October 2024, December 2024, and Early 2025, along with plans for new free features in the coming months [1][15]

MIAMI, July 10, 2024 (GLOBE NEWSWIRE) -- Motorsport Games Inc. (NASDAQ:MSGM), a racing game developer and publisher, today disclosed its preliminary financial results on an unaudited basis for the quarter ending June 30, 2024. The company anticipates reporting net income ranging between $1.6 million and $1.8 million for the quarter ending June 30, 2024, compared to a net loss of $8.2 million reported during the same period in the previous year. This expected increase in net income is primarily due to: Recog ...