Motorsport Games(US:MSGM)2025-05-09 22:59Financial Performance - Q1 2025 revenues were $18 million[7] - Q1 2025 net income was $10 million[7] - Q1 2025 adjusted EBITDA was $06 million[7] - Q1 2025 EPS was $033 compared to an EPS loss of $061 for Q1 2024[7] - Net income attributable to Motorsport Games Inc was $104 million in Q1 2025 compared to a net loss of $166 million in Q1 2024 an improvement of $27 million[7,8] Liquidity and Funding - As of March 31 2025 the Company had cash and cash equivalents of approximately $11 million which increased to $31 million as of April 30 2025[10] - The increase in cash was primarily due to $235 million in net proceeds from a private placement of Class A common stock and a pre-funded warrant which closed on April 11 2025[10] - The Company discloses substantial doubt about its ability to continue as a going concern and believes it needs additional funding to continue operations[10] Operational Highlights - Released an update for Le Mans Ultimate in February 2025 including new LMGT3 category cars and quality of life improvements[7]