---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-038557"
form_type: "8-K"
ticker: "AGAE"
cik: "0001708341"
company_name: "Allied Gaming & Entertainment Inc."
filed_at: "2023-05-11T23:59:59+00:00"
generated_at: "2026-06-15T04:22:13.677321+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Allied Gaming Q1 net loss narrows to $1.9M; revenue down 50% YoY to $1.2M

## Summary
- Revenue $1.2M, down 50% YoY from $2.4M due to timing of ELEVATED series.
- Net loss $1.9M vs $3.8M in Q1 2022; adjusted EBITDA loss $2.0M, 20% improvement.
- Cash and short-term investments $84.4M; working capital $75.6M.
- Bought back 1.1M shares at avg $1.26 for $1.43M in Q1.
- Subsequent: Season 2 of ELEVATED premiered May 3; HyperX/HP naming rights extended.

## SEC filing metadata
- accession: 0001213900-23-038557
- form_type: 8-K
- ticker: AGAE
- cik: 0001708341
- company_name: Allied Gaming & Entertainment Inc.
- filed_at: 2023-05-11T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1708341/000121390023038557/0001213900-23-038557-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1708341/000121390023038557/ea178353-8k_alliedgaming.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-038557
- JSON: https://secwatch.observer/filing/0001213900-23-038557.json
- Plain text: https://secwatch.observer/filing/0001213900-23-038557.txt

## Key facts
- Earnings Releases
  Allied Gaming & Entertainment Inc. reported the first quarter ended March 31, 2023 results: revenue $1.2 million, net income $1.9 million.
  - Period: the first quarter ended March 31, 2023
  - Revenue: $1.2 million
  - Net income: $1.9 million
  - Result: reported results
  source text: First Quarter 2023 Financial Results Revenues: Total revenues of $1.2 million were relatively flat from the fourth quarter of 2022 and down from $2.4 million in the first quarter of 2022. The year-over-year decline was primarily attributable to the timing of the Company’s original content series, ELEVATED , which recognized revenues for Season 1 in the first quarter of 2022 and is expected to recognize revenues for Season 2 in the second quarter of 2023. Costs and expenses: Total costs and expenses were $3.8 million, a decrease of 38% compared to the first quarter of 2022. The decrease was in large part due to a 26% reduction in general & administrative expenses, principally cash, severance and stock-based compensation, as well as the aforementioned timing and related expense recognition of ELEVATED. Net loss for the first quarter of 2023 was $1.9 million compared to a net loss of $3.8 million in the prior year period.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1708341/000121390023038557/0001213900-23-038557-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.