Financial Performance - Super League reported Q4 2024 revenue of $3.426 million, a decrease from $9.510 million in Q4 2023, and full-year revenue of $16.182 million, down from $25.079 million in 2023[15]. - The company experienced a net loss of $5.127 million in Q4 2024, compared to a net loss of $13.274 million in Q4 2023, and a full-year net loss of $16.474 million, down from $30.330 million in 2023[15]. - Super League's gross profit for Q4 2024 was $999,000, 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, 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 $5.753 million in 2024 from $16.758 million in 2023, while total liabilities reduced to $11.380 million from $15.338 million[14]. - Super League's cash and cash equivalents decreased to $1.310 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, down from $7,609,000 at the beginning of the period, reflecting a net decrease of $6,299,000[21]. Operational Efficiency - The company reported a significant reduction in operating expenses, totaling $5.602 million in Q4 2024 compared to $16.661 million in Q4 2023[15]. - Net cash used in operating activities decreased to $11,581,000 from $15,489,000, indicating improved operational efficiency[21]. - The company experienced a positive change in accounts receivable of $4,521,000, compared to a negative change of $2,113,000 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]. - Net cash provided by financing activities was $5,446,000, a decrease from $21,441,000 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, 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, 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].
Super League Enterprise(SLE) - 2025 Q1 - Quarterly Results