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Overview
Signing Day Sports Inc is a technology company that has redefined the student-athlete recruiting landscape with its innovative digital recruitment platform. Focused on sports technology and digital recruiting, the company provides a comprehensive ecosystem that enables high school athletes to create and manage video-verified profiles. The platform facilitates connections with college coaches and recruiters, empowering athletes with the tools and data necessary to showcase their athletic prowess. With an emphasis on quality, the platform supports key sports such as football and baseball, with planned expansion to additional sports as its technology and market presence grow.
Technology and Operations
The core of Signing Day Sports lies in its sophisticated app that integrates video technology, detailed athletic metrics, and academic records into a single, user-friendly profile. The application enables athletes to upload key performance indicators such as measurables and skill videos. This rich, multimedia profile is designed to capture the attention of recruiters and provide coaches with a comprehensive overview of a candidate’s abilities. By emphasizing video-verified data, the platform not only enhances the credibility of the athlete’s information but also streamlines the evaluation process for recruiting professionals.
Business Model and Revenue Streams
The company operates on a hybrid revenue model that combines subscription services and event-based income. Student-athletes and their families are offered subscription plans to maintain active, comprehensive profiles on the app. In parallel, signing day events and recruiting combines serve as crucial revenue drivers, as these events provide athletes with exposure while offering recruiters direct access to a curated pool of talent. This dual approach allows Signing Day Sports to continuously refine its offerings and adapt to the evolving demands of the recruitment ecosystem.
Market Position and Competitive Landscape
Positioned at the intersection of sports technology and digital recruitment, Signing Day Sports stands out in a competitive market that includes traditional scouting services and newer digital platforms. The company differentiates itself through its detailed, video-verified profiles and strategic partnerships with major recruitment events. By fostering an environment that emphasizes transparency and robust data, the platform builds trust among both student-athletes and college programs. Its methodical approach to nurturing talent and fostering connections contributes to its reputation as a trusted intermediary in the recruitment process.
Strategic Partnerships and Industry Collaborations
Signing Day Sports has strategically aligned itself with leading recruitment events and key industry stakeholders. By partnering with events such as nationally recognized combine series, the company enhances its exposure and user engagement. These partnerships not only drive subscription growth but also solidify the app’s role as an essential tool in the high school to college recruiting continuum. The integration of event-based features within the platform underscores the company's commitment to providing a holistic and data-rich recruitment experience.
Operational Excellence and User-Centric Approach
The company’s operational strategy focuses on delivering a seamless user experience, from creating a recruitment profile to accessing exclusive recruitment events. By continually enhancing application features and incorporating user feedback, Signing Day Sports provides an intuitive interface that simplifies the complex process of athletic recruitment. The app’s design is rooted in transparency and precision, ensuring that users can easily navigate the system, update their information, and connect directly with college programs through features such as enhanced coach search functionalities.
Impact on the Sports Recruitment Ecosystem
At its core, Signing Day Sports is committed to broadening access to college sports by democratizing the exposure for student-athletes. The company’s emphasis on digital innovation and strategic event partnerships creates a supportive infrastructure for athletes seeking opportunities in higher education sports programs. Through its comprehensive platform, Signing Day Sports addresses critical gaps in the traditional recruitment process, offering reliable data analytics and an engaging community that benefits both athletes and recruiters. This commitment not only bolsters the recruitment process but also helps to level the playing field for talented individuals from diverse backgrounds.
Conclusion
In summary, Signing Day Sports Inc represents a robust blend of technology and sports recruiting expertise. With a clear focus on empowering student-athletes through an innovative digital profile system and strategic event partnerships, the company stands as a pivotal resource in the athletic recruitment landscape. Its integrated approach to video verification, comprehensive data sets, and streamlined communication positions it as a trusted platform for athletes, families, and college recruiters alike.
Signing Day Sports (NYSE: SGN) has announced the termination of its previously announced stock purchase agreement to acquire 99.13% of Dear Cashmere Group Holding Company (Swifty Global). The decision came after determining that certain material conditions for closing the transaction could not be satisfied within the foreseeable future.
The company is now refocusing its strategy on technology and customer growth opportunities while exploring potential merger and acquisition opportunities and additional financing options. Signing Day Sports plans to expand its services through recruiting webinars, enhanced app features like the coaches' contact list, and potential new strategic transactions.
CEO Daniel Nelson emphasized the company's commitment to achieving growth by prioritizing customer needs in the athletic recruiting industry. The company aims to expand its customer base and geographic reach while focusing on delivering long-term shareholder value through strategic approach, disciplined capital allocation, and consistent execution.
Signing Day Sports (NYSE: SGN) has filed audited financial statements for Swifty Global's fiscal years 2023-2022 and unaudited statements for Q1-Q3 2024-2023, along with pro forma financials related to its planned acquisition of 99.13% of Swifty Global.
Swifty Global's performance shows net gaming revenues of $8.7M in 2023 (up from $2.4M in 2022) and net income of $2.4M (up from $0.4M). For the first nine months of 2024, revenue was $5.1M with net income of $0.6M.
The pro forma combined financials for 2023 show total net revenues of $9.0M with a net loss of $3.0M. For the first nine months of 2024, combined revenues were $5.6M with a net loss of $4.8M, primarily due to operating expenses of $9.4M against a gross profit of $5.5M.
Signing Day Sports (NYSE American: SGN) has extended its rights as 'National Recruiting Partner' to the U.S. Army Bowl through 2026. The new Sponsorship Agreement allows SGN to manage National and Regional Combines while promoting its app and services with revenue-sharing opportunities.
The collaboration has already brought over 8,000 new football users to SGN's SaaS platform. In 2024, nearly 3,000 student-athletes participated in Regional Combines, with projections exceeding 4,000 in 2025. The company will receive a $60 stipend per athlete attending the National Combine and $135 of any academy fee, plus commissions for academy sales.
Participants receive video-verified combine data in their Signing Day Sports app, which allows direct communication with coaches nationwide through an updated coaches search tab after a free trial period.
Signing Day Sports (NYSE: SGN) has signed a Stock Purchase Agreement to acquire 99.13% of Dear Cashmere Group (Swifty Global), a profitable online sports and casino technologies company. Swifty Global reported $128 million in revenue and $2.44 million in net profit for FY2023.
The deal structure involves SGN issuing shares representing 19.99% of its outstanding common stock at closing, with additional shares in convertible preferred stock. Post-transaction, legacy SGN shareholders will retain approximately 8.24%, while Swifty Global stockholders will receive about 91.76%. James Gibbons will become SGN's CEO and join its board.
Both companies aim to raise $2 million in financing, split equally. The transaction requires Nasdaq approval and stockholder consent. The merger is expected to leverage Swifty Global's SaaS technology to reduce costs by over 50% and accelerate product development, while expanding into European, African, and Middle Eastern markets.
Signing Day Sports (NYSE: SGN) has announced its schedule as National Recruiting Partner for the 2025 U.S. Army Bowl Regional Combine Series. The series will feature 14 events from February through May 2025, expecting to attract over 3,500 student-athletes across major football states including Georgia, Florida, Texas, California, Ohio, and Alabama.
Each event is anticipated to host at least 250 athletes, who will receive access to the Signing Day Sports app and platform, designed to support their recruiting journey. The series has shown significant growth, expanding from 600 participants in 2023 to an expected 3,500 in 2025. The combines serve as a qualification step for athletes seeking selection for the 2025 U.S. Army Bowl National High School All-American game.
Signing Day Sports (NYSE American: SGN) announces the upcoming 3rd Annual US Army Bowl National Combine, scheduled for December 18-21, 2024, at The Star, the Dallas Cowboys Practice Facility in Frisco, Texas. The event, expected to be the largest combine-style event in the country, will feature prospects from nearly every state. All participants will receive a one-month free trial of the Signing Day Sports app to enhance their visibility to college recruiters. The event generates revenue through registration fees and exclusive apparel sales, while strengthening the company's brand presence.
Signing Day Sports (NYSE: SGN) reported financial results for Q3 2024, showing 119% revenue growth to $0.49 million for the nine months ended September 30, 2024, compared to $0.23 million in 2023. The company experienced a 60% increase in student-athlete subscriptions compared to Q3 2023. However, net loss widened to $5.41 million ($0.34 per share) from $2.68 million ($0.35 per share) in the comparable period. Q3 2024 quarterly revenue remained flat at $0.06 million, while quarterly net loss increased to $1.60 million from $0.9 million year-over-year.
Signing Day Sports (NYSE: SGN) has extended the deadline to close its acquisition of Swifty Global from October 31 to November 22, 2024. The extension aims to secure necessary regulatory approvals. Swifty reported strong financial performance with $128 million in revenue and $2.4 million in net profit for FY2023. The planned acquisition would combine Signing Day Sports' recruitment platform with Swifty's SaaS-based gaming software and licensed operations in sports betting. The transaction involves acquiring 95-99% of Swifty's shares, subject to due diligence, definitive agreements, stockholder approval, and NYSE American listing requirements.
Signing Day Sports (NYSE American: SGN) announced a 1-for-48 reverse stock split effective November 16, 2024. The split will reduce outstanding shares from approximately 27.02 million to 0.56 million, and the public float from 20.56 million to 0.43 million shares. Trading under the same symbol SGN will begin on a split-adjusted basis on November 18, 2024, with a new CUSIP number 82670R 305.
Signing Day Sports (NYSE American: SGN) has provided an update on its acquisition of Swifty Global (OTC:DRCR). Key points include:
1. Both management teams are working on a strategic roadmap for growth and shareholder value.
2. Swifty has committed $150,000 in capital to Signing Day Sports via a promissory note to facilitate the closing process.
3. The companies have signed a binding term sheet for Signing Day Sports to acquire 95-99% of Swifty's shares.
4. The closing is subject to due diligence, definitive agreements, and post-closing requirements including NYSE American approval.
5. Both CEOs expressed confidence in the progress and potential of the combined entity.
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