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Super League Enterprise(SLE) - 2025 Q1 - Quarterly Results
SLESuper League Enterprise(SLE)2025-04-03 21:10

Financial Performance - Super League reported Q4 2024 revenue of 3.426million,adecreasefrom3.426 million, a decrease from 9.510 million in Q4 2023, and full-year revenue of 16.182million,downfrom16.182 million, down from 25.079 million in 2023[15]. - The company experienced a net loss of 5.127millioninQ42024,comparedtoanetlossof5.127 million in Q4 2024, compared to a net loss of 13.274 million in Q4 2023, and a full-year net loss of 16.474million,downfrom16.474 million, down from 30.330 million in 2023[15]. - Super League's gross profit for Q4 2024 was 999,000,downfrom999,000, down from 3.725 million in Q4 2023, indicating challenges in maintaining profitability[15]. - The net loss for the fiscal year ended December 31, 2024, was 16,474,000,asignificantimprovementfromanetlossof16,474,000, a significant improvement from a net loss of 30,330,000 in 2023, representing a reduction of approximately 46%[21]. Assets and Liabilities - Total current assets decreased to 5.753millionin2024from5.753 million in 2024 from 16.758 million in 2023, while total liabilities reduced to 11.380millionfrom11.380 million from 15.338 million[14]. - Super League's cash and cash equivalents decreased to 1.310millionin2024from1.310 million in 2024 from 7.609 million in 2023, reflecting liquidity challenges[14]. - Cash and cash equivalents at the end of the period were 1,310,000,downfrom1,310,000, down from 7,609,000 at the beginning of the period, reflecting a net decrease of 6,299,000[21].OperationalEfficiency−Thecompanyreportedasignificantreductioninoperatingexpenses,totaling6,299,000[21]. Operational Efficiency - The company reported a significant reduction in operating expenses, totaling 5.602 million in Q4 2024 compared to 16.661millioninQ42023[15].−Netcashusedinoperatingactivitiesdecreasedto16.661 million in Q4 2023[15]. - Net cash used in operating activities decreased to 11,581,000 from 15,489,000,indicatingimprovedoperationalefficiency[21].−Thecompanyexperiencedapositivechangeinaccountsreceivableof15,489,000, indicating improved operational efficiency[21]. - The company experienced a positive change in accounts receivable of 4,521,000, compared to a negative change of 2,113,000inthepreviousyear[21].StrategicInitiatives−SuperLeagueaimstoachieveEBITDApositivitybyQ42025throughaggressivecoststructurerealignmentandfocusingonhigher−marginprograms[4].−Thecompanyisexploringstrategicalternativestoenhancerevenueandhasidentifiedpotentialpartnershipsthatcouldaccelerateitspathtoprofitability[7].−ThecompanyappointedBantBreentotheBoardofDirectorstoleveragehisextensivemarketingandmediaexperienceforrevenuegrowth[6].FinancingActivities−Proceedsfromtheissuanceofpreferredstock,net,amountedto2,113,000 in the previous year[21]. Strategic Initiatives - Super League aims to achieve EBITDA positivity by Q4 2025 through aggressive cost structure realignment and focusing on higher-margin programs[4]. - The company is exploring strategic alternatives to enhance revenue and has identified potential partnerships that could accelerate its path to profitability[7]. - The company appointed Bant Breen to the Board of Directors to leverage his extensive marketing and media experience for revenue growth[6]. Financing Activities - Proceeds from the issuance of preferred stock, net, amounted to 2,393,000, while proceeds from the issuance of common stock were 1,000,000[21].−Netcashprovidedbyfinancingactivitieswas1,000,000[21]. - Net cash provided by financing activities was 5,446,000, a decrease from 21,441,000intheprioryear,reflectingashiftinfinancingstrategy[21].−Thecompanyincurredalossonextinguishmentofliabilityrelatedtocontingentconsiderationamountingto21,441,000 in the prior year, reflecting a shift in financing strategy[21]. - The company incurred a loss on extinguishment of liability related to contingent consideration amounting to 336,000[21]. - The total cash paid in connection with the Melon Acquisition was 150,000,indicatingongoinginvestmentinstrategicacquisitions[21].ShareholderImpact−SuperLeague′sweighted−averagesharesoutstandingincreasedto13,794,441inQ42024from4,264,905inQ42023,impactingper−sharelosscalculations[19].−Depreciationandamortizationexpensesdecreasedto150,000, indicating ongoing investment in strategic acquisitions[21]. Shareholder Impact - Super League's weighted-average shares outstanding increased to 13,794,441 in Q4 2024 from 4,264,905 in Q4 2023, impacting per-share loss calculations[19]. - Depreciation and amortization expenses decreased to 2,612,000 from 5,376,000,indicatingareductioninasset−relatedcosts[21].−Thecompanyreportedagainof5,376,000, indicating a reduction in asset-related costs[21]. - The company reported a gain of 311,000 from the sale of Minehut assets, contributing positively to cash flow[21].