Super League Enterprise(SLE)

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Super League Sets Fourth Quarter and Full Year 2024 Earnings Date, March 28, 2025
Newsfilter· 2025-03-21 12:00
Core Viewpoint - Super League is set to announce its fourth quarter and full year 2024 financial results on March 28, 2025, and will host a webinar to discuss these results and provide a corporate update [1][2]. Group 1: Financial Results Announcement - The Company will release its financial results before market open on March 28, 2025 [1]. - A webinar will take place at 8:30 am Eastern Time on the same day to discuss the results [2]. Group 2: Company Overview - Super League is a leader in redefining the gaming industry as a media channel, focusing on immersive content for global brands [3]. - The Company provides a unique suite of tools and services aimed at maximizing user engagement and enhancing brand awareness [3]. - Super League aims to inspire customer loyalty and create new revenue sources through innovative gameplay and creativity [3].
AVID Partners with Super League to Launch Educational Experience on Roblox Focused on Executive Function and Durable Skills
GlobeNewswire· 2025-03-11 12:00
Core Insights - AVID and Super League have launched AVID Creator Planet, an educational platform on Roblox aimed at students aged 13 and above, focusing on developing executive function and durable skills [1][2][3] Group 1: Educational Focus - AVID Creator Planet emphasizes the practice of durable skills such as problem-solving, critical thinking, collaboration, and communication through interactive scenarios [2][3] - The platform is set in Equinova, an extraterrestrial environment where users engage in building challenges and face problem-solving tests through unexpected events [3] Group 2: Resources and Support - AVID has developed a comprehensive suite of free resources for teachers and students, including step-by-step lessons to facilitate the learning experience [2] - Super League's commitment to creating educational and immersive experiences aims to enhance the developmental benefits of time spent in virtual worlds [4] Group 3: Company Backgrounds - AVID is a national nonprofit organization that supports schools and educators, preparing millions of students for success in college and careers [5] - Super League, listed on Nasdaq as SLE, is redefining the gaming industry as a media channel, providing immersive content solutions for global brands [6]
American Egg Board Debuts "Tower of Eggs" Activation in Roblox, Featuring Obstacle Gameplay and Recipe Challenges
Newsfilter· 2024-12-12 09:58
Core Insights - The American Egg Board (AEB) has launched a unique gaming activation called "Tower of Eggs" in Roblox, aimed at engaging gamers with egg recipes and gameplay [1][5] - This initiative is part of AEB's "Meant to be Broken" campaign, targeting Millennial and Gen Z consumers who are avid gamers [3][4] Group 1: Gaming Activation Details - The "Tower of Eggs" pop-up features a four-level obstacle course where players can create recipes like Sausage, Egg and Cheese Roll-Ups and Ramen Carbonara [2] - Players can earn egg-inspired accessories for their Roblox avatars as rewards for completing challenges [2][4] - The activation will be featured in popular Roblox games from December 10, 2024, to February 5, 2025, including "Color or Die" and "Ultimate Easy Obby" [3] Group 2: Strategic Partnerships and Marketing - The AEB partnered with Talmont and Super League to create this gaming experience, marking the first-ever Roblox activation by a national commodity checkoff organization [5][6] - The initiative reflects a broader trend of brands engaging in gaming culture to create experiences and build communities [6] - AEB aims to connect with a new generation of consumers by leveraging the creativity and engagement potential of the Roblox platform [6]
Super League Enterprise(SLE) - 2024 Q3 - Quarterly Results
2024-11-14 22:25
Financial Results - Super League Enterprise, Inc. reported its financial results for the fiscal quarter ended September 30, 2024[2]. - The company has not yet disclosed specific financial figures or performance metrics in the provided documents[2]. - The financial results include key metrics that will be detailed in the attached exhibits[5]. Corporate Communications - The company released an Earnings Press Release and a Letter to Shareholders on November 14, 2024[2]. - The Letter to Shareholders was authored by CEO Ann Hand, discussing operating highlights and financial results[2]. - The press release and shareholder letter are available as Exhibits 99.1 and 99.2, respectively[5]. Regulatory Compliance - The report is filed under Form 8-K with the SEC, indicating compliance with regulatory requirements[1]. - The company is classified as an emerging growth company under the Securities Act of 1933[1]. - The report was signed by CFO Clayton Haynes, confirming its authenticity[6]. Forward-Looking Statements - The report contains forward-looking statements regarding the company's plans and expectations[4].
Super League Enterprise(SLE) - 2024 Q3 - Quarterly Report
2024-11-14 21:45
Revenue Performance - Revenue for Q3 2024 totaled $4.4 million, a decrease of $2.8 million or 38% compared to $7.2 million in Q3 2023[253]. - Revenue for the nine months ended September 30, 2024 totaled $12.8 million, down from $15.6 million in the prior year period[257]. - Total revenue for the three months ended September 30, 2024 decreased by $2.8 million, or 38%, to $4.4 million compared to $7.2 million in the prior year quarter[270]. - Total revenue for the nine months ended September 30, 2024 decreased by $2.8 million, or 18%, to $12.8 million compared to $15.6 million in the prior year period[274]. - Media and advertising revenue decreased by $1.3 million, or 47%, to $1.5 million compared to $2.9 million in the prior year quarter[271]. - Publishing and content studio revenue decreased by $1.3 million, or 33%, to $2.6 million compared to $4.0 million in the prior year quarter[272]. - Direct to consumer revenue decreased by $102,000, or 29%, to $247,000 compared to $349,000 in the prior year quarter[273]. - Media and advertising revenue decreased by $2.3 million, or 33%, to $4.6 million compared to $6.9 million in the prior year period[275]. - Direct to consumer revenue decreased by $387,000, or 35%, to $731,000 compared to $1.1 million in the prior year period[277]. - Publishing and content studio revenue was relatively flat at $7.4 million for the nine months ended September 30, 2024, compared to $7.5 million in the prior year[276]. - Minehut related media sales for the nine months ended September 30, 2023 totaled $716,000[275]. Cost and Expenses - Cost of revenue for Q3 2024 decreased by $1.9 million or 42% to $2.7 million, driven by the 38% decrease in quarterly revenues[254]. - Cost of revenue for the nine months ended September 30, 2024 decreased by $1.9 million or 20% to $7.7 million compared to $9.5 million in the prior year[258]. - Total operating expenses for Q3 2024 decreased by $1.9 million or 26% to $5.2 million compared to $7.0 million in Q3 2023[256]. - Total operating expense for the nine months ended September 30, 2024 decreased by $8.7 million, or 34%, to $17.3 million compared to $26.0 million in the prior year period[259]. - Total operating expense for the three months ended September 30, 2024 was $5.2 million, a decrease of $1.9 million, or 26%, compared to $7.0 million in the prior year quarter[266]. - Noncash stock compensation expense for the three months ended September 30, 2024 decreased by $287,000, or 44%, compared to the same period in 2023[281]. - Selling, marketing and advertising expense decreased by $764,000, or 24%, primarily due to a $335,000 reduction in amortization expense related to the write-down of partner relationship intangible assets[291]. - Total amortization expense decreased by $618,000, or 50%, for the three months ended September 30, 2024 compared to the same period in 2023[289]. - Engineering, technology and development costs decreased by $1.2 million, or 56%, primarily due to a $243,000 (60%) reduction in cloud services and a $662,000 (61%) decrease in product and engineering personnel expenses[294]. - For the nine months ended September 30, 2024, engineering, technology and development costs decreased by $3.9 million, or 53%, driven by a $1.2 million (64%) reduction in cloud services and a $1.5 million (48%) decrease in product and engineering personnel expenses[295]. - General and administrative expenses for the three months ended September 30, 2024, totaled $1.935 million, a decrease of $336,000 (15%) compared to $2.271 million in the same period of 2023[297]. - Personnel costs in general and administrative expenses decreased by $164,000 (30%) for the three months ended September 30, 2024, due to headcount reductions[298]. - Professional fees increased by $45,000 (25%) for the three months ended September 30, 2024, due to additional audit and third-party valuation fees related to complex transactions[298]. - Noncash stock compensation expense in general and administrative expenses decreased by $171,000 (43%) for the three months ended September 30, 2024[299]. Net Loss - Net loss for Q3 2024 was $3.6 million or $(0.54) per share, compared to a net loss of $3.0 million or $(3.19) per share in Q3 2023[256]. - Net loss for the nine months ended September 30, 2024 was $11.3 million, or $(2.00) per share, compared to a net loss of $17.1 million, or $(10.25) per share, in the prior year period[259]. Acquisitions and Investments - The company entered into a binding term sheet with Infinite Reality for an asset acquisition, including a cash component of up to $20 million[241]. - The company acquired Melon, Inc. for a total consideration of $900,000, with potential contingent consideration of up to $2.35 million based on revenue milestones[250]. - The Super Biz Acquisition included a contingent consideration liability of $1.765 million as of September 30, 2024, reflecting the cash portion payable[305]. - The Melon Acquisition has a contingent consideration of up to $2.35 million, with $1 million payable for revenue milestones achieved by December 31, 2023, and $1.35 million for the year ending December 31, 2024[309]. - The fair value of the Melon Contingent Consideration was determined using a Monte Carlo simulation model with a closing stock price of $2.15 and a volatility rate of 70%[310]. - The company completed the Melon Acquisition on May 4, 2023, for a total of $900,000, which included $150,000 in working capital advances and $750,000 in common stock[343]. Cash Flow and Financing - As of September 30, 2024, the company reported an accumulated deficit of $263.7 million and net cash used in operating activities of $8.2 million for the nine months ended September 30, 2024[331]. - Cash and cash equivalents decreased from $7.6 million at December 31, 2023, to $0.3 million at September 30, 2024[330]. - The company anticipates seeking additional capital through future issuances of common stock, preferred stock, or debt financings to fund operations[332]. - The Company entered into a Business Loan and Security Agreement, issuing a secured promissory note for an aggregate value of $1.85 million, with total interest payments of approximately $0.78 million[335]. - Net cash used in operating activities for the nine months ended September 30, 2024, was $(8,160) thousand, compared to $(14,090) thousand for the same period in 2023, indicating a 42.5% improvement[339][341]. - Net cash provided by financing activities was $1,297 thousand for the nine months ended September 30, 2024, a significant decrease of 90.3% compared to $13,406 thousand in the same period of 2023[339][345]. - The Company reported a net cash decrease of $(7,320) thousand for the nine months ended September 30, 2024, compared to a decrease of $(1,342) thousand in the same period of 2023[339]. - The company raised approximately $41.98 million in gross proceeds from various preferred stock offerings, with net proceeds totaling $37.56 million after fees[353]. - The company completed a public offering of 778,653 shares of common stock at a price of $2.60 per share, resulting in net proceeds of approximately $1.8 million after deducting underwriting discounts and commissions[357]. Market and Operational Risks - The Company may face challenges in obtaining additional funding due to market volatility, which could adversely impact its financial condition and business strategies[336][338]. - The company is exploring alternatives for raising capital, including strategic partnerships and potential acquisitions, which may require additional equity or debt financing[336][337]. - The company is not currently exposed to market risks from changes in interest rates or foreign currency exchange rates[375]. Other Financial Information - The company has not entered into any off-balance sheet financial guarantees or derivative contracts that are not reflected in its financial statements[363]. - The triggering of the Down Round Feature for the Series AA Preferred Stock resulted in a deemed dividend totaling $6.45 million, impacting retained earnings[353]. - The company issued 5,334 shares of Series AAA-2 Preferred Stock, with a conversion price adjusted to $1.71 as of December 22, 2023[353]. - The company has approximately 3,200 square feet of office space, with 1,650 square feet on a month-to-month basis[362]. - The company granted underwriters a 45-day option to purchase additional shares as part of its common stock offering[355]. - The company has assessed contingent liabilities related to legal proceedings, with potential losses evaluated based on the merits of claims[364]. - The company generates revenue from innovative advertising, content and technology, and direct to consumer offers, including in-game items and digital collectibles[367]. - Revenue is recognized when the company transfers promised goods or services to customers, reflecting the expected consideration[368]. - Management's estimates regarding collectability impact the actual revenue recognized each period, which could materially affect financial results[369]. - The company elected to report as an "emerging growth company," allowing it to take advantage of certain exemptions from rigorous reporting requirements[371]. - The company will remain an "emerging growth company" for up to five years unless the market value of its common stock held by non-affiliates exceeds $700 million[373].
Super League Announces Third Quarter 2024 Financial Results
GlobeNewswire News Room· 2024-11-14 21:20
Core Insights - Super League reported a narrowing of net loss per share in Q3 2024, indicating improved operational efficiency through a significant reduction in operating expenses [1][2] - The company entered a transformative agreement with Infinite Reality, which is expected to reshape its business model and enhance its asset portfolio [2][3] Financial Performance - Revenue remained relatively flat in Q3 2024, but the company achieved a 30% reduction in proforma operating expenses compared to the same quarter last year [2] - There was a 27% reduction in proforma net loss for the same period, showcasing progress towards profitability [2] Strategic Developments - The merger with Infinite Reality will provide Super League with a worldwide perpetual license to produce events and sell sponsorships for the Drone Racing League, which has over 100 million young fans globally [3] - The acquisition of Thunder Studios, TalentX, and Fearless Media is expected to enhance Super League's reach and digital marketing capabilities [3] Market Positioning - Super League is experiencing a positive shift in its business model, with blue-chip brands increasingly choosing the company for immersive and interactive solutions [4] - The company is focusing on higher-margin pop-up experiences and a leaner cost structure to drive recurring revenues and profitability [4] Future Outlook - The integration of Infinite Reality's audience assets is anticipated to position Super League as a leading global entertainment network, capitalized for growth [5] - The company aims to redefine gaming as a digital media channel, leveraging its partnerships with global brands to scale market adoption [5]
Super League Enterprise (SLE) Moves to Buy: Rationale Behind the Upgrade
ZACKS· 2024-08-23 17:01
Core Viewpoint - Super League Enterprise (SLE) has been upgraded to a Zacks Rank 2 (Buy), indicating a positive outlook on its earnings estimates, which significantly influence stock prices [1][3]. Earnings Estimates and Stock Price Impact - The Zacks rating system is based on changes in earnings estimates, which are strongly correlated with near-term stock price movements [4][6]. - An increase in earnings estimates typically leads to higher fair value calculations by institutional investors, resulting in stock price movements [4]. Company Performance Indicators - Super League Enterprise is projected to earn -$1.30 per share for the fiscal year ending December 2024, reflecting a year-over-year change of 90.5% [8]. - Over the past three months, the Zacks Consensus Estimate for Super League Enterprise has increased by 31.6%, indicating a positive trend in earnings estimates [8]. Zacks Rating System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with only the top 20% receiving a 'Strong Buy' or 'Buy' rating [9][10]. - The upgrade of Super League Enterprise to a Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, suggesting potential for market-beating returns in the near term [10].
Super League Enterprise(SLE) - 2024 Q2 - Quarterly Results
2024-08-21 20:27
Financial Performance - Super League Enterprise, Inc. reported financial results for the fiscal quarter ended June 30, 2024, with significant operating highlights discussed in the earnings press release[3]. - The earnings press release and letter to shareholders were made available on the company's website, providing detailed insights into financial performance[3]. - Specific financial metrics and user data were not disclosed in the provided documents, indicating a focus on qualitative insights rather than quantitative specifics[3]. Company Classification and Compliance - The company is classified as an emerging growth company under the Securities Act of 1933, indicating it may have different reporting requirements[1]. - The report was signed by Chief Financial Officer Clayton Haynes, ensuring accountability and compliance with regulatory requirements[6]. - The filing is intended to satisfy the obligations under the Securities Exchange Act of 1934, ensuring transparency for investors[1]. Strategic Initiatives and Growth - The company is actively engaged in strategic initiatives to enhance its market position and operational efficiency[5]. - The company continues to explore opportunities for market expansion and potential acquisitions to drive growth[5]. - The Chief Executive Officer, Ann Hand, emphasized the importance of innovation and new product development in the shareholder letter[3]. Forward-Looking Statements - The report includes forward-looking statements regarding the company's plans and expectations, highlighting potential risks and uncertainties[5].
Super League Enterprise(SLE) - 2024 Q2 - Earnings Call Transcript
2024-08-15 23:33
Super League Enterprise, Inc. (NASDAQ:SLE) Q2 2024 Results Conference Call August 15, 2024 5:00 PM ET Company Participants Ann Hand - CEO Conference Call Participants Scott Buck - H.C. Wainwright Jack Codera - Maxim Group Howard Halpern - Taglich Operator Greetings, and welcome to the Super League Second Quarter 2024 Conference Call. Please note, this conference is being recorded. Before we begin, I'd like to caution listeners that comments made by management during this call may include forward-looking sta ...
Super League Enterprise (SLE) Reports Q2 Loss, Misses Revenue Estimates
ZACKS· 2024-08-15 00:06
Super League Enterprise (SLE) came out with a quarterly loss of $0.60 per share versus the Zacks Consensus Estimate of a loss of $0.62. This compares to loss of $3.40 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 3.23%. A quarter ago, it was expected that this company would post a loss of $1.18 per share when it actually produced a loss of $1, delivering a surprise of 15.25%. Over the last four quarters, the company has sur ...