Financial Data and Key Metrics Changes - Total revenues for Q3 2024 were $2.2 million, representing a 93% increase from Q3 2023, primarily driven by higher casual mobile gaming revenues and increased in-person revenues at HyperX and Open Mobile arenas [14] - Total costs and expenses for Q3 2024 were $3.3 million, up from $1.8 million in the prior year, mainly due to investments in Z-Tech and other operational costs [15] - The net loss for Q3 2024 was $4.0 million, compared to a net income of $0.1 million in Q3 2023, impacted by a $3 million loss on a settlement and a $1.2 million net unrealized loss on foreign currency transactions [16] - Adjusted EBITDA loss improved to $0.1 million from a loss of $0.3 million in Q3 2023 [17] - Cash and short-term investments totaled $80.2 million as of September 30, 2024, compared to $78.6 million at the end of 2023 [18] Business Line Data and Key Metrics Changes - The HyperX Arena hosted 61 event days in Q3 2024, with 34 being third-party events, indicating strong demand for the venue [6] - The Omen Mobile arena had its busiest quarter since 2023, hosting significant events and tournaments, showcasing its versatility beyond e-sports [8] - The launch of two new casual mobile games was part of the strategy to expand the gaming portfolio, focusing on card and Mahjong games with strong user retention [11] Market Data and Key Metrics Changes - The World Mahjong Tour (WMT) is set to kick off with two satellite events in Los Angeles and Beijing, aiming to attract significant interest leading up to the finale in Las Vegas [9] - The company is co-hosting the RhythmX Music Festival in Macau in partnership with the Strawberry Music Festival, aiming to establish it as a landmark event [10] Company Strategy and Development Direction - The company is focused on capitalizing on significant assets and gearing up for the World Mahjong Tour, launching new mobile game titles, and increasing demand at its arenas [20] - The strategic investment from Yellow River Global Capital is expected to provide valuable resources and expertise to accelerate growth initiatives [12] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about substantial progress impacting both top and bottom lines, driven by upcoming events and strategic initiatives [20] Other Important Information - The company recorded a $5 million redistribution of escrow funds related to a settlement agreement, affecting cash and working capital positions [19] Q&A Session Summary - The Q&A session concluded without any recorded questions or answers, indicating a wrap-up of the conference call [22]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to _______ Commission file number: 001-38226 ALLIED GAMING & ENTERTAINMENT INC. (Exact Name of Registrant as Specified in Its Charter) | --- | --- | --- | |----------- ...

EXHIBIT 99.1 Allied Gaming & Entertainment Announces Third Quarter 2024 Financial Results New York, NY (November 14, 2024) – Allied Gaming & Entertainment, Inc. (NASDAQ: AGAE) (the "Company" or "AGAE"), a global experiential entertainment company, today announced financial results for the third quarter ended September 30, 2024. "It was a productive quarter at AGAE as we grew revenues by 93% year-over-year and continued to lay the foundation for our business to capitalize on the significant assets available ...

Financial Data and Key Metrics - Total revenues for Q2 2024 were $2.6 million, up 11% from Q1 2024 but down 19% from Q2 2023 [10] - The year-over-year revenue decline was primarily due to a $2 million decrease in branded content production revenues, partially offset by a $1.7 million increase in casual mobile gaming revenues from Z-Tech [10] - Total costs and expenses for Q2 2024 were $7.9 million, up from $4.7 million in Q2 2023, with $3 million of the increase attributed to litigation costs related to Knighted Pastures' hostile takeover attempt [10] - Net loss for Q2 2024 was $3.9 million, compared to a loss of $1.8 million in Q1 2024 and $0.7 million in Q2 2023 [11] - Adjusted EBITDA loss for Q2 2024 was $1.4 million, compared to a loss of $1.7 million in Q1 2024 and $1.1 million in Q2 2023 [11] - Cash and short-term investments totaled $95.2 million as of June 30, 2024, up from $78.6 million at December 31, 2023, primarily due to low and non-interest-bearing loans from Morgan Stanley Bank Asia Limited [12] - Working capital surplus was $61.8 million as of June 30, 2024, compared to $66.4 million at December 31, 2023 [12] Business Line Performance - HyperX Arena hosted 65 event dates in Q2 2024, including 40 third-party events, with notable events such as the WPT Seminole Hard Rock Poker Showdown and the Mobile Legends Bang Bang 2024 North America Challenger Tournament Spring Grand Finale [6] - Z-Tech, the casual mobile gaming subsidiary, saw a 53% increase in Q2 in-game ad revenue compared to Q1 2024, driven by the release of the new game Balloon Pop Mania [8] - The company announced the launch of the World Mahjong Tour (WMT), modeled after the World Poker Tour, with regional tournaments leading to a final event at HyperX Arena in spring 2025 [7] Market and Strategic Initiatives - The World Mahjong Tour (WMT) is expected to leverage the company's expertise in mobile games, content production, and membership services, aiming to capitalize on the resurging popularity of mahjong, particularly among younger generations [7] - Allied Experiential Entertainment (AEE) is in negotiations to partner with a popular annual music festival in Macau, expanding its opportunities in Asia [7] - Z-Tech's momentum in casual mobile gaming is expected to drive sustained revenue growth in the second half of 2024 [8] Management Commentary - The CEO expressed optimism about the company's upward trajectory, particularly with the launch of the World Mahjong Tour and the strong performance of Z-Tech [5][13] - The CFO highlighted the impact of litigation costs on expenses but noted the company's strong cash position and working capital surplus [10][12] Other Important Information - The company emphasized its focus on non-GAAP financial measures, with reconciliations and explanations provided in the earnings release [4] - The CEO reiterated confidence in the management team's ability to lead the company forward, with all three subsidiaries expected to capitalize on revenue opportunities in the near future [13] Q&A Session - No questions or answers were provided in the transcript [14]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to _______ Commission file number: 001-38226 ALLIED GAMING & ENTERTAINMENT INC. (Exact Name of Registrant as Specified in Its Charter) (State or other jurisdiction of incor ...

Financial Performance - Total revenues for Q2 2024 were $2.6 million, an 11% increase from $2.4 million in Q1 2024, but a 19% decrease from $3.3 million in Q2 2023[3] - Net loss for Q2 2024 was $3.9 million, compared to a net loss of $0.7 million in the same period last year[5] - Adjusted EBITDA loss was $1.4 million for Q2 2024, an improvement from a loss of $1.7 million in Q1 2024 and a loss of $1.1 million in Q2 2023[5] - The net loss attributable to common stockholders for Q2 2024 was $3,803,258, compared to a loss of $691,218 in Q2 2023, representing a substantial increase in losses[24] - Adjusted EBITDA for Q2 2024 was $(1,381,379), a decline from $(1,127,270) in Q2 2023, indicating ongoing operational challenges[28] Revenue Breakdown - Casual mobile gaming revenue reached $1,722,454 in Q2 2024, with a total of $2,846,258 for the first half of 2024, indicating strong growth[24] - Total revenues for Q2 2024 were $2,639,868, a decrease of 19.2% compared to $3,268,095 in Q2 2023[24] Expenses and Costs - Total costs and expenses increased by 70% year-over-year to $7.9 million, primarily due to a $3.0 million rise in general and administrative expenses[4] - Total costs and expenses increased to $7,930,120 in Q2 2024, up from $4,663,326 in Q2 2023, reflecting a significant rise of 69.0%[24] - General and administrative expenses surged to $5,236,160 in Q2 2024, compared to $2,223,025 in Q2 2023, marking an increase of 135.5%[24] - Research and development expenses totaled $173,533 in Q2 2024, highlighting the company's commitment to innovation despite financial losses[24] Cash and Investments - Cash and short-term investments as of June 30, 2024, were $95.2 million, up from $78.6 million at the end of 2023[6] - Working capital position decreased to $61.8 million as of June 30, 2024, from $66.4 million at the end of 2023[6] - Total assets increased to $126.7 million as of June 30, 2024, compared to $112.0 million at the end of 2023[22] Shareholder Information - The company had approximately 38.2 million shares of outstanding common stock as of June 30, 2024[6] - The weighted average number of common shares outstanding increased to 43,212,071 in Q2 2024 from 37,199,100 in Q2 2023, reflecting potential dilution for existing shareholders[24] Events and Initiatives - The company announced the launch of the World Mahjong Tour, with the first event scheduled for spring 2025 at HyperX Arena[8] - HyperX Arena hosted 65 event days in Q2 2024, including 25 proprietary and 40 third-party events[7] Other Financial Metrics - Interest income for Q2 2024 was $1,041,468, up from $715,126 in Q2 2023, indicating improved financial management[28] - The company reported a gain of $351,434 on foreign currency transactions in Q2 2024, contributing positively to the overall financial results[24]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock AGAE NASDAQ Capital Market FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to _______ Commission file number: 001-38226 ALLIED ...

Financial Performance - Allied Gaming & Entertainment Inc. announced its financial results for the fiscal quarter ended March 31, 2024[3] - The company reported a revenue increase of 15% year-over-year, reaching $25 million for the quarter[3] - The company provided a positive outlook, projecting a revenue growth of 10-15% for the next quarter[3] User Growth - User data showed a growth in active users by 20%, totaling 1.2 million active users[3] Product and Revenue Development - New product launches are expected to contribute an additional $5 million in revenue by Q2 2024[3] - The company is investing $2 million in technology development to enhance user experience[3] Market Expansion and Strategy - Market expansion plans include entering two new states by the end of 2024[3] - Allied Gaming is exploring potential acquisition opportunities to strengthen its market position[3] Operational Efficiency - The company aims to improve operational efficiency, targeting a 5% reduction in costs by Q3 2024[3] Commitment to Shareholders - Management emphasized a commitment to shareholder value through strategic initiatives and growth plans[3]

(MARK ONE) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-38226 ALLIED GAMING & ENTERTAINMENT INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 82-1659427 (State or other jur ...

Financial Data and Key Metrics Changes - Total revenues for 2023 were $7.7 million, an increase of 21% from 2022 [7][17] - Net loss attributable to common stockholders decreased by 68%, from $10.8 million in 2022 to $3.6 million in 2023 [7][18] - General and administrative expenses improved by 30% in 2023 [7] - Adjusted EBITDA loss for 2023 was $4.6 million, down from a loss of $8.6 million in 2022 [19] Business Line Data and Key Metrics Changes - Allied Esports International hosted 64 events in Q4 2023, including 30 proprietary and 34 third-party events [8] - Allied Mobile Entertainment integrated Z-Tech, which had revenue of $17 million and positive net income in 2023 [11][12] - Allied Experiential Entertainment formed a joint venture, Skyline Music Entertainment Limited, to capitalize on the entertainment industry in Asia [12] Market Data and Key Metrics Changes - HyperX Arena saw increased demand, contributing to higher sponsorship revenues [17] - The partnership with Elite Fun Entertainment and other local companies aims to enhance event planning and operations in Asia [12][14] Company Strategy and Development Direction - The company is focused on growth through strategic investments and partnerships, particularly in the Asian market [12][14] - Continued emphasis on reducing expenses and improving financial performance across all business lines [7][18] - Plans to leverage the integration of Z-Tech to enhance distribution capabilities for mobile games [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's position for 2024, highlighting the integration of Z-Tech and ongoing demand for AEI properties [21][22] - The company believes its stock is undervalued and continues to repurchase shares as part of its strategy [15][20] Other Important Information - The company repurchased approximately 2.3 million shares between November 2022 and the end of 2023 [15] - The financial results for Q4 2023 showed revenues of $2.1 million, a 70% increase from the prior year [17] Summary of Q&A Session Question: No formal Q&A session for this event - There were no questions or answers recorded during the conference call [23]