Motorsport Games Inc. develops and publishes racing simulation games and operates esports content tied to official motorsport series. Company news commonly covers Le Mans Ultimate content updates, online competition features, RaceControl subscriptions, and licensed series content for the 24 Hours of Le Mans, the FIA World Endurance Championship, and the European Le Mans Series.
Updates also address financial results, share repurchases, shareholder meeting matters, and governance actions. The company’s portfolio includes the rFactor 2 and KartKraft simulation platforms, while its esports activities include events such as the Le Mans Virtual Series and technology partnerships connected to F1 Arcade.
Motorsport Games (NASDAQ: MSGM) has released the September Update for Le Mans Ultimate, the official game of the FIA World Endurance Championship. The update includes:
- A new co-op mode allowing players to race with friends
- A save feature for longer races
- Quality of life improvements
- The release of 2024 Pack 2 DLC, featuring two new Hypercars and the Circuit of the Americas
- Updated 2024 LMP2 and Hypercar liveries for all users
The DLC pack is priced at £9.99 / €11.99 / $12.99, with a Season Pass available for £39.99 / €46.99 / $48.99. The game's Early Access pricing will end on October 1, 2024, with the base game price increasing to £28.99 / €34.99 / $37.99 thereafter.
Motorsport Games (NASDAQ: MSGM), a leading racing game developer and esports ecosystem provider, has announced its participation in the upcoming H.C. Wainwright 26th Annual Global Investment Conference. The event will take place from September 9-11, 2024, at the Lotte New York Palace Hotel in New York City.
CEO and President Stephen Hood will deliver a virtual presentation at the conference. Interested parties can access a replay of the webcast through the investor section of Motorsport Games' website. Additionally, Chief Financial Officer Stanley Beckley will be available for one-on-one meetings during the event. Investors wishing to schedule meetings with either Mr. Hood or Mr. Beckley can do so by emailing investors@motorsportgames.com.
Motorsport Games Inc. (NASDAQ: MSGM) reported financial results for Q2 2024. Key highlights include:
- Net income of $2.4 million, compared to a net loss of $8.2 million in Q2 2023
- Revenue increased 8.2% to $1.9 million
- Gross profit margin improved to 59.0% from 50.2%
- Released paid DLC for Le Mans Ultimate in July 2024
- Settled with INDYCAR , reducing liabilities by $2.9 million
- Raised $1 million through a Registered Direct Offering in July
The company faces liquidity challenges and is exploring additional funding options, cost reductions, and strategic alternatives to sustain operations. Cash and cash equivalents stood at $1.3 million as of July 31, 2024.
Motorsport Games (NASDAQ: MSGM), a developer and publisher of racing games and esports ecosystem provider, has announced it will release its Q2 2024 financial results on Friday, August 9, 2024, after market close. The company will host a conference call and webcast at 5:00 p.m. ET on the same day to discuss the results. Investors can access the webcast through the company's investor relations website, where it will remain available for 12 months. Alternatively, participants can join the call by dialing 1-800-717-1738 or 1-646-307-1865.
Motorsport Games (NASDAQ: MSGM) has announced a $1 million registered direct offering priced at-the-market under Nasdaq rules. The company will sell and issue 460,830 shares of Class A common stock (or pre-funded warrants) at $2.17 per share. In a concurrent private placement, MSGM will issue unregistered Series A and B warrants to purchase up to 460,830 shares each. The offering is expected to close around July 29, 2024. H.C. Wainwright & Co. is the exclusive placement agent. Motorsport Games plans to use the net proceeds for working capital and general corporate purposes. The offering is made under a shelf registration statement filed with the SEC on February 1, 2022.
Motorsport Games (NASDAQ: MSGM) has released the first Downloadable Content (DLC) Pack for 'Le Mans Ultimate', the official game of the FIA World Endurance Championship. The '2024 Pack 1' includes the Imola Circuit, Lamborghini SC63 LMDH, and 2024 Peugeot 9X8 LMH. Priced at £9.99 / €11.99 / $12.99, it's available on Steam.
This pack is part of a 2024 Season Pass, which will include four new Hypercars, four circuits, and seven GT3 cars across four DLC releases. Motorsport Games also offers free updates, including the recently released BMW M Hybrid V8 Hypercar and two upcoming GT3 cars. The base game, featuring 2023 FIA World Endurance Championship content, is available at an introductory price of £24.99/€29.99/$32.99.
Motorsport Games (NASDAQ: MSGM) revealed its preliminary financial results for Q2 2024. The company expects net income between $1.6M and $1.8M, a significant improvement from a net loss of $8.2M in the same period last year. Key factors include a $2.5M gain from a Settlement and Licensing Agreement with INDYCAR , a $0.6M gain from another agreement with BARC (TOCA) , and a $250K gain from the sale of non-core assets. Operational net loss is forecasted between $1.2M and $1.4M, down from $8.6M last year. Revenues for the first half of 2024 are expected to be between $4.7M and $4.9M, up from $3.5M in the prior year.
CEO Stephen Hood highlighted cost reduction, operational streamlining, and shareholder value enhancement as key strategies driving these results. However, these figures are preliminary and unaudited, subject to completion of financial closing procedures.
Motorsport Games (NASDAQ: MSGM) has released a major update for Le Mans Ultimate, the official game of the FIA World Endurance Championship and 24 Hours of Le Mans.
The update includes new gameplay features like a Radar for situational awareness, a Replay Suite for race analysis, improved race starts, and Driver Labels for car identification.
The update also introduces the BMW M Hybrid V8 LMDh car with a new Art Car livery, celebrating BMW's 25th anniversary of winning Le Mans.
Additionally, new 2024 Hypercar liveries are available for free, with more updates including new cars and circuits planned for the next 12 months.
The update is available in Early Access on Steam, offering free early access gifts and DLC to players.
Motorsport Games (NASDAQ: MSGM) has announced that it has regained compliance with NASDAQ's listing requirements, a milestone that demonstrates the company's strong corporate governance and financial integrity. The company highlights its dedication to innovation and growth in the racing game and entertainment sectors, driven by significant cost savings from its 2022 Restructuring Plan, which saved $6.7 million annually. Recent strategic moves include reducing headcount, closing unprofitable ventures, and focusing on revenue-driving opportunities such as the newly released Le Mans Ultimate and partnerships like Kindred Concepts' F1 Arcade, utilizing the rFactor 2 software.
Motorsport Games announces a significant update to Le Mans Ultimate, the official game of the FIA World Endurance Championship and 24 Hours of Le Mans, to be released on June 10, 2024. The update includes highly requested features such as a Radar, Replay Suite, and improved Race Starts. Celebrating BMW’s 25th anniversary of its first outright win at Le Mans, the BMW M Hybrid V8 LMDh will be available as a free DLC. Additionally, new 2024 Hypercar liveries will be introduced for free. Over the next 12 months, four DLC packs featuring new Hypercars, circuits, and GT3 cars will be released, with a 2024 Season Pass available at a discount. CEO Stephen Hood highlights the company's dedication to integrating player feedback and enhancing the game experience.