Motorsport Games ( (MSGM) ) has shared an update.
Motorsport Games reported its financial results for the fourth quarter and full year 2024, highlighting a revitalizing year with improved revenues and reduced cash burn. The release of ‘Le Mans Ultimate’ in early access and subsequent updates significantly boosted player numbers and consumer sentiment. The company’s revenue for Q4 2024 increased by 13% compared to the previous year, reaching $2.0 million, while full-year revenue rose by 25.7% to $8.7 million. Despite a net loss for the year, the company saw a substantial improvement from the previous year, driven by increased sales and a new subscription service. These developments have opened new opportunities for partnerships and potential business investments.
More about Motorsport Games
Motorsport Games Inc. operates in the gaming industry, focusing on developing and publishing racing video games. The company is known for its titles such as Le Mans Ultimate, which is the official game of the FIA World Endurance Championship and the 24 Hours of Le Mans. Motorsport Games also engages in creating downloadable content and subscription services, aiming to expand its market presence and revenue streams.
YTD Price Performance: -8.76%
Average Trading Volume: 32,351
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $4.87M
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