secwatch.observer — SEC 8-K summary
======================================

Issuer:     Motorsport Games Inc. (MSGM)
CIK:        0001821175
Form:       8-K
Filed at:   2023-03-24T23:59:59+00:00
Accession:  0001493152-23-008879
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Motorsport Games reports 2022 revenue down 31.5%; warns cash insufficient to fund 2023 ops
--------------------------------------------------------------------------------

- Revenue for FY2022 $10.3M, down 31.5% YoY; Q4 revenue $3.8M, down 54% YoY.
- Net loss FY2022 $36.8M ($30.73/share) vs $33.7M in 2021; Adj EBITDA loss $21.2M vs $17.4M.
- Cash and equivalents $6.5M as of March 22, 2023; company says insufficient to fund 2023 operations.
- Esports segment revenue up 46.1% YoY to $1.2M; restructuring savings target $4M annualized by end 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1821175/000149315223008879/0001493152-23-008879-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1821175/000149315223008879/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-008879

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer