Motorsport Games Projects Q4 2024 Revenues Of $1.8M-$2.1M, FY24 Revenues Of $8.5M-$8.8M; Operating Expenses For Q4 2024 To Reach $2M-$2.4M, Year-End $11.1M-$11.5M. Net Loss Expected At $2.5M-$2.9M For Q4 2024, $2.6M-$3M For Year-End.

Author: Benzinga Newsdesk | February 04, 2025 10:13am

2024 Financial Results

The Company currently expects to report revenues ranging from $1.8 million to $2.1 million for the fourth quarter of 2024, and from $8.5 million to $8.8 million for the year ended December 31, 2024. During the fourth quarter and year ended December 31, 2023, the Company reported revenues of $1.7 million and $6.9 million, respectively.

Total operating expenses are expected to range from $2.0 million to $2.4 million for the fourth quarter of 2024, and from $11.1 million to $11.5 million for the year ended December 31, 2024. During the fourth quarter and year ended December 31, 2023, the Company reported total operating expenses of $3.8 million and $22.7 million, respectively.

Net loss is expected to range from $2.5 million to $2.9 million for the fourth quarter of 2024, and from $2.6 million to $3.0 million for the year ended December 31, 2024. During the fourth quarter and year ended December 31, 2023, the Company reported net income of $2.7 million and net loss of $14.3 million, respectively.

The Company expects to report its full fourth quarter and fiscal year 2024 financial results later this quarter. The preliminary financial results described in this update have not been audited and are subject to adjustment based on the Company's completion of year-end financial close processes.

Posted In: MSGM