The following is a summary of the Motorsport Games Inc. (MSGM) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Q2 revenue was $1.9 million, increasing 8.2% compared to the previous year.

• Net income for Q2 was $2.1 million, an improvement of $10.3 million from a net loss last year.

• Adjusted EBITDA loss improved from -$2.7 million to -$0.2 million.

• The net cash used in operations over the last six months was reduced significantly from the previous period.

Business Progress:

• Motorsport Games released and updated Le Mans Ultimate game with significant positive reception.

• Launched first paid DLC, with 13% of users purchasing it.

• Exceeded internal projections in early access, planning to expand to gaming consoles and introduce a new subscription service.

• Maintained a productive partnership with Kindred Concepts on the F1 Arcade project.

Opportunities:

• Growing core fan base for Le Mans Ultimate, potential increase in revenue through additional formats and services.

• Opportunities in expanding on multiple gaming platforms and entering subscription services.

Risks:

• Company's liquidity presents a risk, with current funds not sufficient to cover operations over the next year, potentially requiring further financing or strategic changes.

More details: Motorsport Games IR

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