Motorsport Games Inc Stock Price, News & Analysis

Motorsport Games (NASDAQ: MSGM) will participate in the H.C. Wainwright Global Investment Conference on May 24, 2022. CEO Dmitry Kozko is scheduled to present at 10:00 a.m. ET. Interested individuals can access a live webcast of the presentation via the Motorsport Games Investor Relations site, with a replay available for a year. The company, a leading developer and publisher of racing games, offers titles based on various official motorsport series, including NASCAR and INDYCAR. More information can be found on their official website.

Motorsport Games reported Q1 2022 revenues of $3.3 million, a 34% increase from Q1 2021's $2.5 million. Key achievements included the launch of the KartKraft racing simulation and a successful 24 Hours of Le Mans Virtual esports event, attracting over 81 million fans. Despite revenue growth, the company faced a net loss of $16 million due to a $9.3 million non-cash write-down of goodwill and intangible assets. The company is exploring funding options to address liquidity needs as it anticipates ongoing negative cash flows.

Motorsport Games (NASDAQ: MSGM) announced participation in the 17th Annual Needham Technology & Media Conference on May 19, 2022. CEO Dmitry Kozko will host a fireside chat at 8:00 a.m. ET, accessible via a live webcast on the company’s Investor Relations site. A replay will be available for one year. Motorsport Games is a premier developer and publisher of motorsport video games, holding licenses for renowned series like NASCAR and INDYCAR. The company also excels in esports, partnering with events like 24 Hours of Le Mans.

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.