Motorsport Games(US:MSGM)2023-04-02 03:10Financial Performance - Q4 2022 revenues were $3.8 million[3] - Q4 2022 net loss was $4.8 million[3] - Q4 2022 adjusted EBITDA loss was $3.5 million[3] - Year Ended December 31, 2022 Net Loss was $36.84 million[19] - The company expects to generate annualized cost reductions of approximately $4 million by the end of 2023[26] Key Initiatives and Releases - Released rFactor 2 Q4 update and content on November 7, 2022[3] - Released NASCAR Rivals on Nintendo Switch on October 14, 2022[3] - Released 2022 Season Expansion Update for NASCAR 21: Ignition on October 6, 2022[3] - Delivered the first 4 of 5 Rounds of the 2022-23 Le Mans Virtual Series[3] Liquidity and Going Concern - As of December 31, 2022, the Company had approximately $1 million of available cash on hand[21] - As of March 22, 2023, the Company had approximately $6.5 million of available cash on hand[21]