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MSGM — Motorsport Games News Story

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Motorsport Games Q1 revenue more than doubles

Overview

Racing game developer's Q1 revenue more than doubled yr/yr to $4.0 mln

Adjusted EBITDA for Q1 rose to $1.5 mln from $0.6 mln a year ago

Company repurchased 904,395 shares and cancelled all Class B common stock

Outlook

Company plans to expand portfolio and bring Le Mans Ultimate to console

Motorsport Games expects ongoing momentum from Le Mans Ultimate and RaceControl platforms

Company says strengthened financial position enables pursuit of next phase of growth

Result Drivers

LE MANS ULTIMATE MOMENTUM - Co said ongoing momentum and player engagement with Le Mans Ultimate title drove revenue growth

CONTENT UPDATES - Release of Le Mans Ultimate Version 1.3, including new track, car, and features, led to record player engagement

Company press release: ID:nGNX2zjg7S

Key Details

MetricBeat/MissActualConsensus Estimate
Q1 Revenue$4 mln
Q1 Adjusted EBITDA$1.5 mln
Q1 Gross Profit$3.5 mln
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com. (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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