SEGG Media Reports More Than 1,500% Year-Over-Year Revenue Growth in Second Quarter, Driven by Veloce

Most quarterly revenue now comes from Veloce's digital media and advertising businesses rather than legacy lottery and gaming operations.

Rhea-AI Summary

SEGG Media (Nasdaq: SEGG) reported second-quarter 2026 revenue of $3.2 million, driven by its first full quarter owning Veloce. Revenue rose 1,584% from $192,000 a year earlier and 169% sequentially; the first quarter included Veloce for only part of the period. Six-month revenue increased 966% to $4.4 million from $416,000.

At June 30, total assets were $121.9 million, versus $52.9 million at year-end, and stockholders' equity was $68.2 million, versus $21.0 million. Most quarterly revenue came from Veloce, acquired February 17, 2026. Management intends to use its capabilities to support other company brands.

The second-quarter Form 10-Q brings all Nasdaq-cited periodic reports current and cures the filing deficiency; Nasdaq's formal compliance determination remains pending. Public warrants expired unexercised on October 29, 2026, with no effect on financial statements or the common-stock listing.

8 points · 0 major

PositiveiHow this balance works

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It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

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0 major · 1 point

Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate pointSecond-quarter revenue rose 1,584% to $3.2 million from $192,000 in Q2 2025, driven by Veloce.
• Moderate pointSecond-quarter Form 10-Q filing brings all Nasdaq-cited periodic reports current and cures the filing deficiency.
• Minor pointSequential revenue increased 169%; the first quarter included Veloce for only part of the period.
• Minor pointSix-month revenue increased 966% to $4.4 million from $416,000 a year earlier.
• Minor pointStockholders' equity increased to $68.2 million at June 30, 2026, from $21.0 million at year-end.

3 minor points

• Minor pointTotal assets increased to $121.9 million at June 30, 2026, from $52.9 million at year-end.
• Minor point. Forward-looking: it has not happened yet and may not happen.Management intends to use Veloce's capabilities to support Sports.com, Concerts.com and Lottery.com growth.
• Minor pointPublic warrants covering 14,375 common shares at $16,100.00 per share expired unexercised; none remain outstanding.

Negative

• Minor pointNasdaq's formal compliance determination remains pending despite the filing deficiency being cured.

News Explained

At June 30, 2026, SEGG's $712,877 in cash equaled 30.7 days of second-quarter operating cash use of $2,112,777—a historical comparison, not a current runway estimate.

The release identifies substantial doubt about SEGG's ability to continue as a going concern and says dependence on external financing may expose existing holders to dilution through equity or convertible-debt financings. A going-concern statement is a disclosure of substantial doubt that the company can fund operations for the next 12 months.

Sources and calculations

• SEGG Media second-quarter 2026 results release (2026-11-02)
• Going-concern qualification definition (2026-07-17)
• SEGG 2026 second-quarter fundamentals (2026Q2)

• Available liquidity against the last reported quarterly operating outflow, in days at that rate $712,877 / ($2,112,777 / 91) = 30.7 days

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Details

Market Reaction – SEGG

+71.9% Peak in 31 min

$1.24 – $2.39 Day Range

$6.18M Mkt Cap at Last Price

On Nov 2, the day this news came out, the latest delayed price for SEGG is 36.16% above the previous close. Argus tracked a peak move of +71.9% during the session. Our momentum scanner has recorded 55 alerts for this stock so far that day. The latest delayed price is $1.81. Relative volume is exceptionally heavy at 420.1x the stock’s average daily volume.

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Key Figures

Q2 revenue: $3.2 million; up 1,584% Sequential revenue growth: 169% Six-month revenue: $4.4 million; up 966% +3 more

Q2 revenue

$3.2 million; up 1,584%

Q2 2026 vs. $192,000 in Q2 2025

Sequential revenue growth

169%

Q2 2026 over Q1 2026; Q1 included Veloce for only part of the period

Six-month revenue

$4.4 million; up 966%

First six months of 2026 vs. $416,000 a year earlier

Total assets

$121.9 million

At June 30, 2026, compared with $52.9 million at December 31, 2025

Stockholders' equity

$68.2 million

Compared with $21.0 million at year-end

Public warrant terms

14,375 shares at $16,100.00 per share

Warrants expired under their original terms; none were exercised

Historical Context

1 past event · Latest: Oct 20

1 event

1. Oct 20

   Nasdaq compliance

   24h Move

   -9.3%

   Requested a hearing and stay after a determination over the overdue June-quarter filing.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

form 10-q, convertible notes, working capital deficit, forward-looking statements

4 terms

form 10-q regulatory

"as filed in its Quarterly Report on Form 10-Q."

A Form 10-Q is a detailed report that publicly traded companies are required to file with regulators three times a year, providing an update on their financial health and business activities. It is important for investors because it offers timely insights into a company's performance, helping them make informed decisions about buying or selling stocks. Think of it as a regular check-up report that shows how well a company is doing.

convertible notes financial

"under its outstanding notes and convertible notes;"

Convertible notes are a type of short-term loan that a company receives from investors, which can later be turned into company shares instead of being paid back in cash. They matter to investors because they offer a way to support a company early on while giving the potential to own a stake in its success if the company grows and later raises more funding.

working capital deficit financial

"negative cash flows from operations, working capital deficit and significant indebtedness"

A working capital deficit occurs when a company's short-term obligations—like bills, supplier payments and near-term debt—are larger than its readily available short-term resources such as cash, money expected from customers, and inventory that can be sold. Like a household whose monthly bills exceed its checking account, it signals potential difficulty paying immediate expenses, which matters to investors because it raises the chance the company will need outside financing or cut operations, affecting risk and value.

forward-looking statements regulatory

"This press release contains statements that constitute "forward-looking statements""

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Revenue reaches $3.2 million as Company files second-quarter Form 10-Q and becomes current on Nasdaq-cited periodic reports

FORT WORTH, Texas, Nov. 02, 2026 (GLOBE NEWSWIRE) -- Sports Entertainment Gaming Global Corporation ("SEGG Media" or the "Company") (Nasdaq: SEGG) today reported financial results for the second quarter ended June 30, 2026, as filed in its Quarterly Report on Form 10-Q. Revenue rose to $3.2 million from $192,000 in the second quarter of 2025, driven by the first full quarter of results from Veloce Media Group ("Veloce"), which the Company acquired on February 17, 2026.

With this filing, the Company is current on all periodic reports cited in its previously announced Nasdaq notices. The filing cures the Company's previously announced deficiency under Nasdaq Listing Rule 5250(c)(1), which requires timely filing of periodic reports with the SEC. The Company will provide an update when it receives Nasdaq's formal compliance determination.

Second Quarter 2026 Highlights (compared with Q2 2025)

• Revenue of $3.2 million, up 1,584% from $192,000.
• Sequential revenue growth of 169% over the first quarter of 2026, which included Veloce for only part of the period.
• Veloce, acquired February 17, 2026, generated most of the quarter's revenue in its first full quarter as part of SEGG Media.

Six-Month and Balance Sheet Highlights

• Revenue for the first six months of 2026 was $4.4 million, up 966% from $416,000 a year earlier.
• Total assets were $121.9 million at June 30, 2026, compared with $52.9 million at December 31, 2025.
• Total stockholders' equity was $68.2 million, compared with $21.0 million at year-end.

Veloce Expands SEGG Media's Revenue Base

A year ago, the Company's revenue came primarily from legacy lottery and gaming operations. Today, most of it comes from digital media and advertising: sponsorships, branded content, media production, content licensing and commercial partnerships across Veloce's portfolio of motorsport, esports, gaming and creator-led brands, including Quadrant. The Company also generates revenue from data services and from its gaming operations in Mexico.

Veloce continues to operate as a standalone business. Management intends to use its content capabilities, commercial relationships and owned media ecosystem of more than 500 million monthly digital views to support the growth of Sports.com, Concerts.com and Lottery.com.

Expiration of Public Warrants

On October 29, 2026, the Company's publicly traded warrants (formerly Nasdaq: LTRYW) expired under their original terms on the fifth anniversary of the Company's 2021 business combination. The warrants were exercisable for an aggregate of 14,375 shares of common stock at $16,100.00 per share, as adjusted for prior reverse stock splits. None were exercised, and none remain outstanding. Nasdaq has filed a Form 25 to remove the warrants from listing.

The expiration simplifies the Company's capital structure and has no effect on the Company's financial statements or on the listing of its common stock, which continues to trade on The Nasdaq Capital Market under the symbol "SEGG."

Management Commentary

Robert J. Stubblefield, Chief Financial Officer and Interim President and Chief Executive Officer of SEGG Media, said:
"A year ago we were doing about $200,000 a quarter in revenue. This quarter we did $3.2 million, and most of it came from businesses we didn't own twelve months ago. There's more work ahead, particularly on our cost structure. But the business underneath is larger and more diversified, and with our reporting current, we can put more of our attention on growing it."

About SEGG Media Corporation

SEGG Media (Nasdaq: SEGG) is a global sports, entertainment, and gaming group operating a portfolio of digital assets including Sports.com, Concerts.com, TicketStub.com, Lottery.com, and Veloce Media Group. Focused on immersive fan engagement, ethical gaming, and technology-driven fan experiences, SEGG Media is redefining how global audiences interact with the content they love.

Important Notice Regarding Forward-Looking Statements

This press release contains statements that constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the Company's business strategy, the expected operation and benefits of the Lottery.com affiliate model and the timing of revenue from it, the use of Veloce's capabilities to support the Company's other brands, the Company's future financial performance, and the listing of the Company's common stock. These statements are based on management's current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially, including, among others: the Company's recurring operating losses, negative cash flows from operations, working capital deficit and significant indebtedness, and the resulting substantial doubt about its ability to continue as a going concern; its dependence on external financing, which may not be available on acceptable terms or at all, and dilution to existing stockholders from equity and convertible debt financings; defaults, alleged defaults, forbearance arrangements and related claims under its outstanding notes and convertible notes; the receipt of Nasdaq's formal compliance determination, its ability to timely file future periodic reports and maintain compliance with Nasdaq listing requirements, and the risk that its common stock could be delisted; the restatement and correction of previously issued financial statements, including the timing and cost of filing amended reports; material weaknesses in its internal control over financial reporting and the conclusion that its disclosure controls and procedures were not effective; the continuing impact of legacy matters, including misconduct by former executives; the outcome of pending and threatened litigation and arbitration; the absence of a permanent Chief Executive Officer and the concentration of executive roles in its Chief Financial Officer; elevated operating and professional costs; the temporary suspension of certain operations, including Sports.com Predict, to conserve financial resources; risks associated with operating and overseeing Veloce and other acquired businesses, including finalization of purchase price allocations and potential impairment of goodwill and intangible assets; its ability to recruit affiliate partners and whether IGA or future partners fund and execute planned market expansion as anticipated; whether pending transactions, including the proposed acquisition of Nook Holdings Limited, are completed; regulatory and licensing requirements applicable to its gaming operations, including in Mexico; foreign currency fluctuations; changes in advertising markets and consumer engagement with digital media; and the other risks described under "Risk Factors" in the Company's Annual Report on Form 10-K filed with the SEC on July 10, 2026, its Quarterly Report on Form 10-Q for the quarter ended June 30, 2026, and its other filings with the SEC. Forward-looking statements speak only as of the date of this press release. Except as required by law, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

This press release was published by a CLEAR® Verified individual.

For additional information

SEGG Media
press@seggmedia.com
737-587-3391

SEGG Investors
ir@seggmedia.com
737-787-3891

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much did SEGG Media's second-quarter 2026 revenue grow?

SEGG Media's second-quarter 2026 revenue increased 1,584% to $3.2 million from $192,000 a year earlier. Revenue also increased 169% from the first quarter of 2026. Veloce contributed most of the quarter's revenue in its first full quarter within SEGG Media.

Has SEGG Media resolved its Nasdaq periodic-report filing deficiency?

The second-quarter Form 10-Q filing cures the deficiency under Nasdaq Listing Rule 5250(c)(1), but Nasdaq's formal compliance determination remains pending. All periodic reports cited in the previously announced Nasdaq notices are now current. The company plans to provide an update when it receives that determination.