Signing Day Sports Announces Selected Financial Results for Quarter Ended June 30, 2025, and Provides Business Update

Rhea-AI Summary

Signing Day Sports (NYSE American: SGN) reported its Q2 2025 financial results, highlighting improvements in its balance sheet despite ongoing losses. The company's total assets reached $1.4 million, exceeding total liabilities of $1.1 million. Cash and cash equivalents increased significantly to $657,000 from $181,000 at year-end 2024.

Revenue declined to $67,000 in Q2 2025 from $205,000 in Q2 2024, while net loss slightly increased to $1.4 million from $1.3 million year-over-year. The company achieved a 69.8% reduction in accounts payable compared to December 2024 and fully repaid its outstanding loans, demonstrating progress in strengthening its financial foundation.

Positive

• Total assets of $1.4M now exceed total liabilities of $1.1M
• Cash and cash equivalents increased by 263% to $657K
• 69.8% reduction in accounts payable compared to December 2024
• Full repayment of outstanding loans
• Cost of revenues decreased significantly from $62K to $5K

Negative

• Revenue declined 67% to $67K from $205K year-over-year
• Net loss increased to $1.4M from $1.3M year-over-year
• General and administrative expenses increased to $1.6M from $1.3M
• Decrease in event fee payments impacting revenue

Insights

Financial Analyst

Signing Day Sports improved its balance sheet but faces concerning revenue decline and ongoing losses in Q2 2025.

Signing Day Sports has achieved its primary objective of strengthening its balance sheet, but the underlying performance metrics reveal significant challenges. The company now maintains $1.4 million in total assets against $1.1 million in liabilities, creating a positive net asset position. Cash reserves have improved substantially to $657,000 from $181,000 at year-end 2024, while accounts payable decreased by 69.8%.

However, the revenue picture is alarming. Q2 revenue plummeted to just $67,000, representing a 67% year-over-year decline from $205,000. This significant revenue contraction, attributed to decreased event fee payments, signals potential difficulties in the company's core business model despite reduced development costs.

While cost of revenues decreased substantially from $62,000 to $5,000, general and administrative expenses increased to $1.6 million from $1.3 million in the prior year. This 23% increase in operating overhead during a period of declining revenue raises efficiency concerns, despite being partially offset by decreased legal expenses and stock-based compensation.

The net loss widened slightly to $1.4 million from $1.3 million year-over-year, showing the company remains far from profitability despite balance sheet improvements. The burn rate and continued losses indicate that while the company has strengthened its immediate financial position, its operational model still requires significant refinement to achieve sustainability.

Reports Strengthened Balance Sheet

SCOTTSDALE, AZ, Aug. 12, 2025 (GLOBE NEWSWIRE) -- Signing Day Sports, Inc. (“Signing Day Sports” or the “Company”) (NYSE American: SGN), the developer of the Signing Day Sports app and platform to aid high school athletes in the recruitment process, today announced selected financial results for the quarter ended June 30, 2025, and provided a business update.

As of June 30, 2025, total assets were approximately $1.4 million, surpassing total liabilities of approximately $1.1 million. The Company reported that accounts payable decreased by 69.8% compared to accounts payable at December 31, 2024, and had fully repaid its outstanding loans payable. Cash and cash equivalents increased to approximately $657 thousand compared to approximately $181 thousand at December 31, 2024.

Daniel Nelson, Chief Executive Officer and Chairman of Signing Day Sports, stated, “Our primary goal entering 2025 was to strengthen our financial foundation by reducing accounts payable, preserving cash, and positioning our assets to exceed liabilities, and we have delivered on that objective.”

“While our net loss remained relatively consistent year-over-year—totaling approximately $1.4 million in the second quarter of 2025 compared to $1.3 million in the prior-year period—we continued to implement measures aimed at improving long-term financial performance. Streamlined operations and disciplined cost management remain central to our strategy as we work to strengthen our position heading into the second half of 2025.”

Financial highlights for the quarter ended June 30, 2025

Revenue totaled approximately $67 thousand for the three months ended June 30, 2025, compared to approximately $205 thousand for the comparable period in 2024, due to a decrease in event fee payments.

Cost of revenues was approximately $5 thousand for the three months ended June 30, 2025, compared to approximately $62 thousand for the prior-year period, primarily due to a decrease in development labor cost.

General and administrative expenses were approximately $1.6 million for the three months ended June 30, 2025, compared to approximately $1.3 million for the second quarter of 2024, primarily due to increases in non-legal professional fees and salaries and wages, offset by a decrease in legal expenses and a decrease in stock-based compensation.

Net loss was $1.4 million for the three months ended June 30, 2025, compared to a net loss of approximately $1.3 million for the same period in 2024.

The selected results included in this press release should be reviewed together with the Company’s complete financial results for the quarter ended June 30, 2025. The complete financial results are available in the Company’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 12, 2025 and available at www.sec.gov.

Signing Day Sports, Inc.

Signing Day Sports' mission is to help student-athletes achieve their goal of playing college sports. Signing Day Sports' app allows student-athletes to build their Signing Day Sports' recruitment profile, which includes information college coaches need to evaluate and verify them through video technology. The Signing Day Sports app includes a platform to upload a comprehensive data set including video-verified measurables (such as height, weight, 40-yard dash, wingspan, and hand size), academic information (such as official transcripts and SAT/ACT scores), and technical skill videos (such as drills and mechanics that exemplify player mechanics, coordination, and development). For more information on Signing Day Sports, go to https://bit.ly/SigningDaySports.

Forward-Looking Statements

This press release contains "forward-looking statements" that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as "may," "could," "will," "should," "would," "expect," "plan," "intend," "anticipate," "believe," "estimate," "predict," "potential," "project" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties, and other factors. These risks, uncertainties and other factors are described more fully in the section titled “Risk Factors” in the Company’s periodic reports which are filed with the Securities and Exchange Commission. These risks, uncertainties and other factors are, in some cases, beyond our control and could materially affect results. If one or more of these risks, uncertainties or other factors become applicable, or if our underlying assumptions prove to be incorrect, actual events or results may vary significantly from those implied or projected by the forward-looking statements. No forward-looking statement is a guarantee of future performance. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.

Investor Contacts:
Crescendo Communications, LLC
212-671-1020
SGN@crescendo-ir.com

FAQ

What were Signing Day Sports (SGN) Q2 2025 earnings results?

SGN reported a net loss of $1.4 million on revenue of $67,000 for Q2 2025, compared to a net loss of $1.3 million on revenue of $205,000 in Q2 2024.

How much cash does Signing Day Sports (SGN) have as of June 2025?

As of June 30, 2025, SGN reported cash and cash equivalents of $657,000, up from $181,000 at December 31, 2024.

What is the current balance sheet position of Signing Day Sports (SGN)?

As of June 30, 2025, SGN's total assets were $1.4 million, exceeding total liabilities of $1.1 million, with a significant reduction in accounts payable and full repayment of outstanding loans.

How did Signing Day Sports (SGN) reduce its operating expenses in Q2 2025?

SGN reduced its cost of revenues to $5,000 from $62,000 year-over-year, primarily through decreased development labor costs, though G&A expenses increased to $1.6 million.

What caused the revenue decline for Signing Day Sports (SGN) in Q2 2025?

SGN's revenue declined to $67,000 from $205,000 year-over-year primarily due to a decrease in event fee payments.