secwatch.observer — SEC 8-K summary
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Issuer:     Motorsport Games Inc. (MSGM)
CIK:        0001821175
Form:       8-K
Filed at:   2024-05-07T23:59:59+00:00
Accession:  0001493152-24-018092
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 Q1 revenue $3.0M, net loss narrows to $1.7M; warns cash insufficient for next 12 months
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- Revenue of $3.0M (up 75.2% YoY); gross margin 78.0% vs 27.8% in prior year.
- Net loss of $1.7M ($0.60 per share) vs $5.3M ($2.33) in Q1 2023; adjusted EBITDA loss $0.4M.
- Launched 'Le Mans Ultimate' Early Access selling ~79,000 units in Q1; BTCC settlement reached.
- Cash of $1.3M as of April 30; company says insufficient to fund operations over next year.
- Exploring additional funding, asset sales, and cost reductions; no assurances of success.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1821175/000149315224018092/0001493152-24-018092-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1821175/000149315224018092/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-018092

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