Motorsport Games(MSGM) - 2024 Q4 - Annual Results

Sales Performance - Motorsport Games Inc. achieved a milestone of 100,000 net unit sales of Le Mans Ultimate, the official game of the FIA World Endurance Championship[8]. Revenue Projections - The company anticipates fourth quarter 2024 revenues between $1.8 million and$2.1 million, compared to $1.7 million in the fourth quarter of 2023, representing an increase of approximately 5.9$8.5 million and $8.8 million, up from$6.9 million in 2023, indicating a growth of approximately 23.2% to 27.7%[8]. Operating Expenses - Total operating expenses for the fourth quarter of 2024 are projected to be between $2.0 million and$2.4 million, down from $3.8 million in the same quarter of 2023, reflecting a decrease of approximately 36.8$11.1 million to $11.5 million, a reduction from$22.7 million in 2023, indicating a decrease of approximately 51.1% to 51.0%[8]. Net Loss Expectations - The company expects a net loss of between $2.5 million and$2.9 million for the fourth quarter of 2024, compared to a net income of $2.7 million in the fourth quarter of 2023[8]. - For the full year 2024, the anticipated net loss is between$2.6 million and $3.0 million, a significant improvement from a net loss of$14.3 million in 2023[8]. Financial Reporting - The financial information provided is preliminary and has not been audited, indicating potential changes in the final audited results[10]. - The company is classified as an emerging growth company, which may affect its financial reporting and compliance requirements[5]. - Forward-looking statements regarding future performance are subject to various risks and uncertainties, which may lead to actual results differing materially from expectations[9].