Capital RequirementsSLE ended 4Q24 with cash of $1.3M and $5.0M of debt, and based on our estimates, we believe SLE will likely require additional capital before 3Q25.
Financial PerformanceSLE reported 4Q24 results below expectations with revenue of $3.4M below our estimate of $6.0M; and adjusted EBITDA loss of ($4.0M), which was wider than our estimate.
Revenue ChallengesRevenue in 3Q24 fell well short of expectations, driven by customer hesitation due to safety concerns on the Roblox platform.