Esports Entertainment Q3 revenue $4.2M, net loss $13.2M; cuts 37% of workforce

ESPORTS ENTERTAINMENT GROUP, INC.

2024-Q3 EPS reported -$11084.68 revenue$20,190,663

Revenue $4.2M vs $15.7M YoY; net loss improved to $13.2M from $63.6M.
Reduced debt and liabilities by $27.1M in Q3; total YTD liability reduction of ~$43M.
Workforce cut from 158 to 99 employees; expects >$4M in annual OpEx savings.
Closed $4.3M Series D preferred private placement; cash on hand only $0.4M before placement.
Divested Spanish gaming license ($1.2M) and Bethard ($1.7M); liquidating Argyll.

item 1.01 item 3.02 item 5.03 item 2.02 item 7.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.8

ESPORTS ENTERTAINMENT GROUP, INC. reported preliminary financial results for the fiscal third quarter ended March 31, 2023.

Period: the fiscal third quarter ended March 31, 2023
Result: preliminary results

Exact text from the filing

On May 22, 2023, Esports Entertainment Group, Inc. (the “Company”) issued a press release providing a business update for the third quarter ended March 31, 2023.

View on SEC.gov

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

ESPORTS ENTERTAINMENT GROUP, INC.: Filed a certificate of designations to establish Series D Convertible Preferred Stock, amending powers, designations, preferences, and other rights (effective 2023-05-22).

Change: charter amendment
Effective: 2023-05-22

Exact text from the filing

On May 22, 2023, the Company filed a certificate of designations (the “Series D Certificate of Designations”), with the Secretary of State of the State of Nevada regarding the Company’s shares of preferred stock, par value $0.001 per share, designated as Series D Convertible Stock, to amend certain powers, designations, preferences and other rights set forth therein, effective as of May 22, 2023.

View on SEC.gov

Browse all earnings releases →

ESPORTS ENTERTAINMENT GROUP, INC. filing history →

Source: SEC EDGAR

accession 0001493152-23-019336

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.