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 net loss for Q4 2024 was $5.127 million, compared to a net loss of $13.274 million in Q4 2023, and the full-year net loss was $16.474 million, down from $30.330 million in 2023[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]. - The company reported a gross profit of $999,000 in Q4 2024, down from $3.725 million in Q4 2023[15]. Asset and Liability Management - Total assets decreased from $25.328 million in 2023 to $11.711 million in 2024, while total liabilities reduced from $15.338 million to $11.380 million[14]. - Super League's cash and cash equivalents dropped from $7.609 million in 2023 to $1.310 million in 2024[14]. - Cash and cash equivalents at the end of the period were $1,310,000, down from $7,609,000 at the end of 2023, reflecting a decrease of approximately 83%[21]. - The company did not incur any impairment of intangible assets and goodwill in 2024, a significant change from $7,052,000 in 2023, indicating improved asset valuation[21]. Operational Efficiency - Net cash used in operating activities decreased to $11,581,000 in 2024 from $15,489,000 in 2023, indicating improved operational efficiency[21]. - The company incurred $1,289,000 in stock-based compensation, down from $2,735,000 in 2023, suggesting a reduction in equity compensation expenses[21]. - The company reported a net cash used in investing activities of $164,000, a decrease from $825,000 in 2023, indicating a more conservative investment approach[21]. Strategic Initiatives - The company aims to achieve EBITDA positivity by Q4 2025, focusing on realigning its business and aggressively attacking its cost structure[4]. - The company is focusing on larger revenue, higher margin programs to optimize resource allocation[4]. - Discussions regarding a partnership with Infinite Reality are ongoing, with the exclusivity period expired, allowing exploration of other strategic alternatives[7]. - The company appointed Bant Breen to the Board of Directors to enhance its marketing and media strategy[6]. Shareholder Impact - The weighted-average number of shares outstanding increased from 4,264,905 in 2023 to 13,794,441 in 2024, reflecting potential dilution for shareholders[19]. - The company raised $2,393,000 from the issuance of preferred stock and $1,000,000 from common stock issuance, contributing to a total net cash provided by financing activities of $5,446,000[21]. - Accounts receivable increased by $4,521,000, compared to a decrease of $2,113,000 in the previous year, indicating a potential growth in sales or collection issues[21]. - The company reported a gain of $311,000 from the sale of Minehut assets, which was a new revenue stream for the year[21].
SUPER LEAGUE GAM(SLGG) - 2025 Q1 - Quarterly Results