Core Viewpoint - Signing Day Sports, Inc. reported a 100% revenue growth for the year ended December 31, 2024, reaching approximately $0.6 million compared to $0.3 million in 2023, indicating strong demand for its recruitment platform [2][6]. Financial Performance - Revenue for 2024 was approximately $0.6 million, a 100% increase from approximately $0.3 million in 2023 [2][6]. - Gross profit rose to approximately $0.4 million in 2024 from approximately $0.3 million in 2023 [2]. - Cost of revenues totaled approximately $0.2 million in 2024, compared to approximately $0.04 million in 2023 [6]. - Advertising and marketing expenses were approximately $0.09 million in 2024, down from approximately $0.4 million in 2023 [6]. - General and administrative expenses increased to approximately $7.8 million in 2024 from approximately $4.6 million in 2023 [6]. - The net loss for 2024 was approximately $8.7 million, with a diluted loss per share of $19.86, compared to a net loss of approximately $5.5 million and a diluted loss per share of $19.85 in 2023 [6]. Strategic Initiatives - The company is focused on empowering student-athletes with innovative tools and resources for the recruitment process [2]. - Continued collaboration with the U.S. Army Bowl is part of the strategy to solidify leadership in the recruiting space [2]. - Future initiatives include recruiting webinars, an expanded coaches' contact list, and potential strategic transactions to unlock new opportunities [2].
Signing Day Sports Announces Selected Financial Results for the Year Ended December 31, 2024