UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT OF 1934 From the transition period from _________ to _________ Commission File Number 001-38819 SUPER LEAGUE GAMING, INC. (Exact name of small business issuer as specified in its charter) Delaware 47-1990734 (State ...

Super League Gaming, Inc. (SLGG) Q2 2022 Earnings Conference Call August 11, 2022 4:30 PM ET Company Participants Ann Hand - President and CEO Clayton Haynes - CFO Conference Call Participants Operator Good afternoon, everyone. And welcome aboard, as I take you to Super League Gaming Metaverse. We thought we would try something a little different this earnings season. And in place of our traditional earnings call, given who we are and what we do, we would show you our world. I am Ann Hand, the CEO and Chair ...

Financial Data and Key Metrics Changes - The company reported Q1 2022 revenues of $3.8 million, a 378% increase year-over-year, exceeding consensus expectations and setting a new record for a first quarter [5][9][26] - Gross margin for Q1 was 49%, a four-point increase from Q4 2021, aligning with the target range of 45% to 50% [9][29] - The company had $7.8 million in cash on hand as of March 31, 2022, and closed on an additional $4 million in financing [9][34][35] - The net loss for Q1 2022 was $7.9 million, or $0.21 per share, compared to a net loss of $4.6 million, or $0.23 per share in the prior year [32] Business Line Data and Key Metrics Changes - Advertising and sponsorship revenues increased by 328% to $1.9 million, comprising approximately 49% of total revenues [26][27] - Content-related revenues rose by 384% to $1.4 million, accounting for 37% of total revenue [27][28] - Direct-to-consumer revenues surged by 692% to $507,000, representing 13% of total revenues [28] Market Data and Key Metrics Changes - The company reaches approximately 70 million monthly active players in its Metaverse gaming network, generating close to 1 billion monthly impressions [7][9] - The global advertising spend in-game is projected to reach $56 billion by 2024, indicating a significant market opportunity for the company [7] Company Strategy and Development Direction - The company aims to strengthen its position in connecting advertisers to young gaming audiences through its Metaverse games and content channels [6][10] - The strategy includes creating custom game worlds for brands and leveraging innovative in-game advertising products [11][12] - The company is focused on expanding its ad inventory and partnerships, including a notable collaboration with iHeartMedia [18][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving another record quarter in Q2 2022, reaffirming annual revenue expectations in the range of $20 million to $22 million [24][36] - Despite challenging economic conditions, the company is committed to delivering top-line growth while identifying cost levers to narrow operating losses [36][37] Other Important Information - The company completed the integration of last year's acquisitions and strengthened its Metaverse strategy in Q1 2022 [10] - A significant campaign with MTV showcased the company's ability to create engaging experiences that blend gaming and entertainment [13][14] Q&A Session Summary Question: Should the strong content revenue be viewed as a new run rate? - Management indicated that both content and technology revenue streams help smooth out seasonality in ad revenues, with repeat business from partners like Twitch contributing to the strong performance [39] Question: What are the expectations for gross profit margin for the remainder of the year? - Management reiterated the target gross margin range of 45% to 50%, emphasizing that fluctuations may occur based on deal sizes and opportunities [40][41] Question: How will the additional capital be utilized? - The capital will be used for both working capital and to support growth initiatives, with a focus on achieving revenue goals [43] Question: Clarification on the Samsung deal and other million-dollar deals? - The Samsung campaign launched in May and will contribute to Q2 revenue, while management is pursuing several other million-dollar deals, which are expected to close soon [50][52]

PART I. FINANCIAL INFORMATION This section provides the unaudited condensed consolidated financial statements and management's discussion and analysis for the first quarter [Condensed Consolidated Financial Statements](index=4&type=section&id=Item%201.%20Condensed%20Consolidated%20Financial%20Statements) This section presents Super League Gaming, Inc.'s unaudited condensed consolidated financial statements, including balance sheets, statements of operations, cash flows, and detailed notes on accounting policies and acquisitions [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets decreased from **$96.8 million** to **$88.4 million**, primarily due to a reduction in cash, while liabilities and equity also declined Condensed Consolidated Balance Sheets (Unaudited, in thousands) | | March 31, 2022 (in thousands) | December 31, 2021 (in thousands) | | :--- | :--- | :--- | | **Current Assets** | | | | Cash and cash equivalents | $7,784 | $14,533 | | Total current assets | $14,688 | $22,195 | | **Total Assets** | **$88,412** | **$96,805** | | **Current Liabilities** | | | | Accounts payable and accrued expenses | $3,987 | $5,514 | | Total current liabilities | $4,060 | $5,590 | | **Total Liabilities** | **$4,532** | **$6,108** | | **Total Stockholders' Equity** | **$83,880** | **$90,697** | [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Revenues surged **378%** to **$3.77 million**, but net loss widened to **$7.92 million** due to increased operating expenses, despite a slight improvement in loss per share Condensed Consolidated Statements of Operations (Unaudited, in thousands) | | Three Months Ended March 31, 2022 (in thousands) | Three Months Ended March 31, 2021 (in thousands) | | :--- | :--- | :--- | | **Revenues** | **$3,768** | **$788** | | Gross Profit | $1,859 | $446 | | Total Operating Expenses | $9,820 | $5,072 | | Net Operating Loss | ($7,961) | ($4,626) | | **Net Loss** | **($7,916)** | **($4,625)** | | Basic and Diluted Loss Per Share | ($0.21) | ($0.23) | | Weighted-Average Shares Outstanding | 36,838,957 | 19,807,775 | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operating activities increased to **$6.3 million**, with no financing activities in Q1 2022, leading to a **$6.7 million** decrease in cash and equivalents Condensed Consolidated Statements of Cash Flows (Unaudited, in thousands) | | Three Months Ended March 31, 2022 (in thousands) | Three Months Ended March 31, 2021 (in thousands) | | :--- | :--- | :--- | | Net cash used in operating activities | ($6,287) | ($4,370) | | Net cash used in investing activities | ($462) | ($267) | | Net cash provided by financing activities | $0 | $33,437 | | **Increase (Decrease) in Cash** | **($6,749)** | **$28,800** | | Cash and Cash Equivalents - end of period | $7,784 | $36,742 | [Notes to Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) These notes detail business operations, 2021 acquisitions, revenue streams, intangible assets, and financing activities, while addressing going concern uncertainty and subsequent convertible note offerings - The company's business model focuses on building and operating networks of games, monetization tools, and content channels across major gaming platforms, including metaverse environments[16](index=16&type=chunk) - Financial results include the impact of three key acquisitions made in 2021: Mobcrush (live streaming platform), Bannerfy (creator collaboration platform), and Bloxbiz (metaverse ad platform)[18](index=18&type=chunk)[19](index=19&type=chunk)[20](index=20&type=chunk) Revenue by Type (in thousands) | Revenue Stream | Q1 2022 (in thousands) | Q1 2021 (in thousands) | | :--- | :--- | :--- | | Advertising and sponsorships | $1,856 | $434 | | Content sales | $1,405 | $290 | | Direct to consumer | $507 | $64 | | **Total** | **$3,768** | **$788** | - Management has concluded there is a going concern uncertainty due to recurring net losses (**$7.9 million** in Q1 2022) and cash used in operations (**$6.3 million** in Q1 2022)[28](index=28&type=chunk)[30](index=30&type=chunk) However, they believe current cash and financing facilities are sufficient to fund operations through at least May 2023 - Subsequent to the quarter end, on May 16, 2022, the company entered into a Securities Purchase Agreement for the sale of senior convertible notes with an aggregate principal amount of **$4.32 million**[132](index=132&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=34&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) This section analyzes Q1 2022 financial performance, noting a **378%** revenue increase to **$3.8 million** driven by acquisitions, but also a wider **$7.9 million** net loss and a decrease in cash, with liquidity supported by recent financing - The company's strategy focuses on monetizing its three primary revenue streams: advertising, content, and direct-to-consumer offers across gaming and metaverse platforms[139](index=139&type=chunk)[140](index=140&type=chunk)[141](index=141&type=chunk) - The 2021 acquisitions of Mobcrush, Bannerfy, and Bloxbiz significantly expanded the company's premium advertising inventory, creator network, and presence in the metaverse (specifically Roblox), contributing to revenue growth[144](index=144&type=chunk) Key Performance Indicators (KPIs) | KPI | Q1 2022 | Q1 2021 | | :--- | :--- | :--- | | Views and Impressions | ~3.0 billion | 600.0 million | | Monthly Active Users | >70.0 million | 1.0 million | | Gameplay Hours | ~222.0 million | ~34.0 million | [Results of Operations](index=36&type=section&id=Results%20of%20Operations) Q1 2022 revenues grew **378%** to **$3.8 million**, but a **94%** increase in operating expenses, driven by acquisitions and cloud costs, widened the net operating loss to **$8.0 million** Comparison of Operations (in thousands) | | Q1 2022 (in thousands) | Q1 2021 (in thousands) | Change % | | :--- | :--- | :--- | :--- | | **Revenues** | **$3,768** | **$788** | **378%** | | Gross Profit | $1,859 | $446 | 317% | | Total Operating Expenses | $9,820 | $5,072 | 94% | | **Net Loss** | **($7,916)** | **($4,625)** | **71%** | - The increase in operating expenses was primarily due to higher personnel costs following the Mobcrush acquisition, a **$1.0 million** increase in cloud services and platform costs, and amortization of intangible assets from the FY 2021 acquisitions[161](index=161&type=chunk)[163](index=163&type=chunk)[164](index=164&type=chunk) [Liquidity and Capital Resources](index=39&type=section&id=Liquidity%20and%20Capital%20Resources) Cash and equivalents decreased to **$7.8 million** by Q1 2022, with **$6.3 million** used in operations, but management expects sufficient liquidity through May 2023 via a **$10 million** stock purchase agreement and a **$4.32 million** convertible note offering - Cash and cash equivalents decreased by **$6.7 million** during the quarter, ending at **$7.8 million** on March 31, 2022[165](index=165&type=chunk) - On March 25, 2022, the company entered into a common stock purchase agreement with Tumim Stone Capital, providing the right to sell up to **$10 million** of its common stock[118](index=118&type=chunk)[168](index=168&type=chunk) - On May 16, 2022, the company secured a **$4.32 million** convertible note offering with three institutional investors to provide additional capital[172](index=172&type=chunk) [Critical Accounting Estimates](index=45&type=section&id=Critical%20Accounting%20Estimates) Critical accounting estimates involve significant judgment in revenue recognition, business combinations, and goodwill impairment testing, with management concluding no goodwill impairment as of March 31, 2022 - Significant judgment is required for revenue recognition, including identifying performance obligations and determining if revenue should be recognized over time or at a point in time[196](index=196&type=chunk)[214](index=214&type=chunk) - Accounting for business combinations requires significant estimates in determining the fair value of assets acquired and liabilities assumed, which affects the amount of goodwill recorded[215](index=215&type=chunk) - Goodwill of **$50.3 million** was tested for impairment[221](index=221&type=chunk) Management performed a qualitative assessment and concluded it was not "more likely than not" impaired as of March 31, 2022, despite a downturn in macroeconomic conditions and the company's stock price[222](index=222&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=51&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company reports no current material exposure to market risks from interest rates, foreign currency exchange rates, or derivatives in its ordinary course of business - The company reports no current material exposure to market risks from interest rates, foreign currency exchange rates, or derivatives[227](index=227&type=chunk) [Controls and Procedures](index=51&type=section&id=Item%204.%20Controls%20and%20Procedures) The CEO and CFO affirmed effective disclosure controls and procedures, with no material changes to internal controls, while integration of acquired businesses' controls is ongoing - The CEO and CFO concluded that disclosure controls and procedures were effective as of the end of the period[228](index=228&type=chunk) - No material changes were identified in the company's internal control over financial reporting during the quarter[229](index=229&type=chunk) - The company is still in the process of integrating and evaluating the internal controls for the acquisitions of Mobcrush and Bannerfy, completed in June and August 2021, respectively[230](index=230&type=chunk)[231](index=231&type=chunk) PART II. OTHER INFORMATION This section covers legal proceedings, risk factors, unregistered sales of equity securities, and exhibits [Legal Proceedings](index=53&type=section&id=Item%201.%20Legal%20Proceedings) The company reported no legal proceedings during the period - There are no legal proceedings to report[236](index=236&type=chunk) [Risk Factors](index=53&type=section&id=Item%201A.%20Risk%20Factors) The company refers to risk factors detailed in its Annual Report on Form 10-K, with no new material changes reported in this period - The company refers to the risk factors discussed in its Annual Report on Form 10-K for the year ended December 31, 2021[237](index=237&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=53&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) No previously unreported unregistered equity securities were sold during the three months ended March 31, 2022 - No previously unreported sales of unregistered securities occurred during the quarter[238](index=238&type=chunk) [Exhibits](index=54&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including CEO and CFO certifications and Inline XBRL documents - Exhibits filed include CEO and CFO certifications (31.1, 31.2, 32.1) and various Inline XBRL data files[241](index=241&type=chunk)

T INVESTOR PRESENTATION MARCH 2022 teg FORWARD-LOOKING STATEMENTS Certain statements in this presentation constitute "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Any statements that refer to expectations or other characterizations of future events, circumstances or results are forward-looking statements. You can also identify these statements by use of the words "may," "will," "should," "plans," "explores," "expects," "anticipates," "cont ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT OF 1934 From the transition period from to Commission File Number 001-38819 SUPER LEAGUE GAMING, INC. (Exact name of small business issuer as specified in its charter) (State or other jurisdiction of incorporation or or ...

Financial Data and Key Metrics Changes - Q4 2021 revenue reached $6.2 million, a 695% increase year-over-year, while full year 2021 revenue was $11.7 million, up 465% year-over-year [18][61] - Gross margin for Q4 2021 was 45%, a 7-point increase over Q3 2021, and full year gross margin was 44% [20][66] - The company had $14.5 million in cash as of December 31, 2021, with no debt and total shareholders' equity of $90.7 million [21][56] Business Line Data and Key Metrics Changes - Advertising and sponsorship revenue in Q4 2021 was $4.7 million, comprising 76% of total revenue, up from 45% in Q4 2020, with a 584% increase year-over-year [19][38] - Content-related revenues increased 172% year-over-year to $991,000, accounting for 16% of Q4 2021 revenue [40] - Direct-to-consumer revenues rose 645% to $477,000, representing 8% of Q4 2021 revenue [43] Market Data and Key Metrics Changes - The company reached approximately 75 million monthly active players in its game world network, with a significant portion coming from Roblox [17][87] - The number of revenue-generating advertisers increased by 154% in Q4 2021, with a 429% increase in revenue per advertiser [39] Company Strategy and Development Direction - The company aims to deepen its reach in metaverse gaming and enhance its offerings through strategic acquisitions and partnerships [73] - Super League is focused on creating immersive brand campaigns and leveraging its unique inventory to attract advertisers [12][29] - The company plans to target annual revenue in the range of $20 million to $22 million for 2022 [34] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the continued growth of advertising revenue, with strong visibility into Q1, Q2, and Q3 of 2022 [76] - The company is focused on improving bottom-line performance while maintaining top-line growth, with a current monthly net cash burn rate expected to be between $1.5 million and $1.7 million [57][34] - Management highlighted the importance of brand safety and compliance in attracting advertisers, noting their inventory is certified by the kidSAFE Seal Program [28] Other Important Information - The company has made significant progress in integrating its acquisitions, enhancing its ad tech stack, and expanding its team [73] - Super League operates a remote-first model, which has positively impacted employee retention and productivity [82] Q&A Session Summary Question: Is there a way to disaggregate advertising revenue in Q4 between seasonal benefits and underlying trends? - Management acknowledged that Q4 typically sees seasonal boosts but indicated that the trend line is expected to carry through into the new year, with stronger estimates for Q1 and visibility into Q2 and Q3 [76] Question: Can gross margin return to mid to high 50% range? - Management stated that while targeting 50% gross margin is consistent, they are focused on introducing more advertisers to their unique inventory, which may involve lower margins initially [79] Question: What has been the experience with employee retention and hiring? - Management reported little to no churn in their product and engineering teams, attributing this to the flexibility and trust provided to employees in a remote-first environment [82] Question: What is the updated count on Bloxbiz monthly users and Roblox games in the portfolio? - Management confirmed that they have about 150 Roblox games and can reach approximately 75 million monthly players, with a significant portion coming from Roblox [87] Question: Are the 7-figure deals from existing customers or new customers? - Management indicated that the 7-figure deals are a mix of both existing and new customers, with existing customers expanding their engagement and new customers seeking to enter the metaverse [89]

Super League Gaming, Inc. (SLGG) Q3 2021 Earnings Conference Call November 15, 2021 5:00 PM ET Company Participants Ann Hand - President and Chief Executive Officer Clayton Haynes - Chief Financial Officer Conference Call Participants Jack Vander Aarde - Maxim Group Bill Morrison - National Securities Operator Good afternoon, everyone and thank you for participating in today’s conference call to discuss Super League Gaming’s Financial Results for the Third Quarter ended September 30, 2021. Joining us today ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 OR ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT OF 1934 From the transition period from _________ to _________ Commission File Number 001-38819 SUPER LEAGUE GAMING, INC. (Exact name of small business issuer as specified in its charter) Delaware 47-1990734 (S ...

| --- | --- | --- | --- | --- | |-------|-------|----------|-------|-----------------------------| | | | | | | | | | INVESTOR | | PRESENTATION SEPTEMBER 2021 | | | | | | | FORWARD-LOOKING STATEMENTS Certain statements in this presentation constitute "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Any statements that refer to expectations or other characterizations of future events, circumstances or results are forward-looking statements. You ...