Financial Data and Key Metrics Changes - Revenues for Q4 2024 were $2.0 million, an increase of $0.3 million or 13% compared to the same period in the prior year, driven by higher digital game sales from the release of Le Mans Ultimate [27] - Net loss for Q4 2024 was $2.9 million, a decrease of $5.6 million compared to net income of $2.7 million for the same period in the prior year [28] - Full year 2024 revenues were $8.7 million, up $1.8 million compared to the prior year, primarily due to $3.0 million in digital game and downloadable content sales [30] - Net loss for 2024 was $3.0 million, an improvement from $14.3 million in 2023 [30] - Adjusted EBITDA loss for 2024 was $3.9 million, an improvement from $9.3 million in 2023 [31] - Net cash used in operations for the year ended December 31, 2024, was approximately $3.2 million, with an average monthly cash burn of $0.3 million, down from $1.1 million in 2023 [32] Business Line Data and Key Metrics Changes - The launch of Le Mans Ultimate in February 2024 significantly contributed to revenue growth, with digital game sales being a primary driver [30] - The introduction of downloadable content (DLC) such as the 2024 Pack 3, which included popular car models and tracks, has boosted sales and player engagement [21] Market Data and Key Metrics Changes - The subscription service launched in December generated over $120,000 in gross revenues within the first 21 days, indicating strong early adoption [18] - The company reported nearly 6,000 active subscribers, showcasing potential for long-term monetization [19] Company Strategy and Development Direction - The company is focused on improving product quality while balancing aggressive cost reductions, aiming to reconnect with players and enhance brand perception [9][12] - Future opportunities include exploring console ports for PlayStation and Xbox, contingent on proving success on the PC platform [17] - The company is actively exploring additional funding options and strategic alternatives, including potential equity and debt financing [33] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's turnaround, emphasizing the importance of respect in the sim racing industry and the positive momentum gained from recent successes [36] - The company is optimistic about future growth opportunities, particularly in the underserved racing market [16] Other Important Information - A settlement with Luminis improved the company's financial position by $180,000 and cleared barriers to full ownership of Studio 397 [24] - A positive ruling in litigation with Innovate Corporation may alleviate some legal fee liabilities, enhancing stockholders' equity [25] Summary of Q&A Session - There were no questions during the Q&A session, and the call concluded without any formal inquiries [38]