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
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
$4 mln
Q1 Adjusted EBITDA
$1.5 mln
Q1 Gross Profit
$3.5 mln
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(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.)