Motorsport Games Inc Stock Price, News & Analysis

Motorsport Games, Inc. (NASDAQ: MSGM) will report its financial results for Q1 2022 on May 16, 2022, after the market closes. A conference call and webcast are scheduled for the same day at 5:00 p.m. ET to discuss the results. Motorsport Games is a leading developer and publisher in the racing game sector and an esports ecosystem provider, creating official licensed video games for renowned motorsport series such as NASCAR and INDYCAR, across various platforms.

Motorsport Games (NASDAQ: MSGM) reported Q4 and fiscal 2021 results, showcasing a 180% revenue increase to $8.2 million, driven by the launches of NASCAR 21: Ignition and NASCAR Heat Ultimate Edition+ for Nintendo Switch. Despite gains, the company faced a net loss of $7.0 million, up from $3.0 million a year prior, attributed to higher operating costs. Total revenue for 2021 was $15.1 million, down from $19.0 million in 2020. The company anticipates ongoing losses and may seek additional financing to address liquidity challenges amid an expansive product roadmap and operational adaptations to current geopolitical tensions.

Motorsport Games has extended its partnership with Formula E, becoming the official sim racing platform for the all-electric motorsport series. The integration into rFactor 2 will include updates reflecting Season 8 drivers and teams, allowing players to race on iconic circuits. This partnership aims to enhance esports events and fan engagement through the new Accelerate esports series, powered by rFactor 2. The Formula E update is now live, elevating fan experiences across global venues.

Motorsport Games (NASDAQ: MSGM) has appointed former Formula One driver Romain Grosjean as a technical advisor to enhance its rFactor 2 simulation platform and esports events. Grosjean will participate in four technical test sessions, providing expertise to improve the platform and consult on major esports events like the Le Mans Virtual Series and the INDYCAR-Motorsport Games Pro Challenge. His involvement is expected to strengthen Motorsport Games' offerings in the growing esports market.

Motorsport Games (NASDAQ: MSGM) will report its financial results for Q4 and the fiscal year ending December 31, 2021, on March 30, 2022, after the market closes. A conference call and webcast will follow at 5:00 p.m. ET to discuss the results. The company, known for its official licensing and game development across multiple platforms, is engaged in esports and racing game publishing, partnering with series like NASCAR and Formula E.

Motorsport Games (NASDAQ: MSGM) announced an update for NASCAR 21: Ignition, introducing NASCAR’s Next Gen car, available from February 17, 2022. This update coincides with the upcoming Daytona 500 race on February 20, 2022. Players can experience the new car in a Test Drive mode on all platforms. Additionally, there will be a Free Play Weekend on Xbox from February 17-20, 2022. Live Fast Motorsports will showcase a Motorsport Games-themed paint scheme during the Daytona weekend, marking the start of their second partnership year.

Adam Breeden, known for his success in competitive socialising, has announced an ambitious project to launch immersive F1 racing simulation experiences through a global partnership with Formula 1. This venture will see up to 30 venues worldwide over five years, starting with a location in London by Q4 2022. Kindred Concepts, Breeden's new company, aims to offer top-notch hospitality and entertainment using advanced racing simulators developed in collaboration with Motorsport Games, enhancing the F1 experience for fans and newcomers alike.

Motorsport Games (NASDAQ: MSGM) has announced the release of its first quarterly rFactor 2 content update for 2022. This update features new tracks and car chassis, enhancing user experience with a refreshed interface. The updates aim to improve the rFactor 2 simulation platform, which is being integrated into live esports events. The company plans to continue releasing quarterly updates throughout 2022, set for May, August, and November. This ongoing commitment is expected to elevate Motorsport Games offerings, keeping it competitive in the racing game market.

Motorsport Games (NASDAQ: MSGM) announces its inaugural virtual esports event, the 2022 INDYCAR-Motorsport Games Pro Challenge, set for February 9, 2022. This follows their exclusive partnership with INDYCAR established in July 2021. The event features top NTT INDYCAR SERIES drivers, including reigning champion Alex Palou. Viewers can tune in at 6 p.m. EST, with races featuring various heats and a charity prize pool totaling $23,500. Additionally, a new INDYCAR game is expected to launch in 2023, marking a significant milestone for fans of motorsport gaming.