Motorsport Games reports Q2 net income of $2.1M; warns cash insufficient for next year

Motorsport Games Inc.

2024-Q2 EPS reported $0.40 revenue$4,910,689

Revenue $1.9M (+8.2% YoY); net income $2.1M vs loss $8.2M; EPS $0.87 vs loss $3.04.
Adjusted EBITDA loss improved to $0.2M from $2.7M; gains from INDYCAR ($2.5M), BTCC ($0.6M), asset sale ($0.3M).
Cash $0.5M at June 30, increased to $1.3M after July RDO raising $1M gross; company states insufficient cash for next year, exploring funding.
Released first paid DLC for Le Mans Ultimate in July; plans to accelerate console launch.

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