secwatch.observer — SEC 8-K summary
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Issuer:     Motorsport Games Inc. (MSGM)
CIK:        0001821175
Form:       8-K
Filed at:   2024-08-09T23:59:59+00:00
Accession:  0001493152-24-030977
Event type: earnings
Sentiment:  neutral
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1821175/000149315224030977/0001493152-24-030977-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1821175/000149315224030977/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-030977

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