Super League Announces Third Quarter 2024 Financial Results
Super League (Nasdaq: SLE) released its Q3 2024 financial results, highlighting a transformative agreement with Infinite Reality. While revenue remained flat, the company achieved a 30% proforma operating expense reduction and 27% proforma net loss reduction compared to the previous year. The agreement includes a worldwide perpetual license for Drone Racing League events and ownership of Thunder Studios, TalentX, and Fearless Media. The company continued engaging with major brands like IOC, Visa, Maybelline, Google, and Universal Pictures, noting larger deal sizes and more persistent programs. The anticipated merger and strategic investment are expected to complete by January 1st, strengthening the company's balance sheet and market position.
Super League (Nasdaq: SLE) ha rilasciato i risultati finanziari del terzo trimestre 2024, evidenziando un accordo trasformativo con Infinite Reality. Sebbene i ricavi siano rimasti stabili, l'azienda ha raggiunto una riduzione del 30% delle spese operative proforma e una riduzione del 27% delle perdite nette proforma rispetto all'anno precedente. L'accordo include una licenza perpetua mondiale per gli eventi della Drone Racing League e la proprietà di Thunder Studios, TalentX e Fearless Media. L'azienda ha continuato a collaborare con grandi marchi come IOC, Visa, Maybelline, Google e Universal Pictures, notando dimensioni di affari maggiori e programmi più persistenti. La fusione prevista e l'investimento strategico dovrebbero completarsi entro il 1° gennaio, rafforzando il bilancio e la posizione di mercato dell'azienda.
Super League (Nasdaq: SLE) publicó sus resultados financieros del tercer trimestre de 2024, destacando un acuerdo transformador con Infinite Reality. Aunque los ingresos se mantuvieron estables, la empresa logró una reducción del 30% en los gastos operativos proforma y una reducción del 27% en las pérdidas netas proforma en comparación con el año anterior. El acuerdo incluye una licencia perpetua mundial para los eventos de la Drone Racing League y la propiedad de Thunder Studios, TalentX y Fearless Media. La empresa continuó colaborando con grandes marcas como IOC, Visa, Maybelline, Google y Universal Pictures, señalando tamaños de acuerdos más grandes y programas más persistentes. La fusión anticipada y la inversión estratégica se espera que se completen para el 1 de enero, fortaleciendo el balance y la posición de mercado de la empresa.
슈퍼 리그 (Nasdaq: SLE)는 2024년 3분기 재무 결과를 발표하며 인피니트 리얼리티와의 변혁적인 계약을 강조했습니다. 수익이 정체된 가운데, 회사는 지난해 대비 30%의 프로포르마 운영 비용 절감과 27%의 프로포르마 순손실 감소를 달성했습니다. 이 계약에는 드론 레이싱 리그 이벤트에 대한 전 세계적인 무기한 라이센스와 썬더 스튜디오, 탤런트X, 피어리스 미디어의 소유권이 포함되어 있습니다. 회사는 IOC, 비자, 메이벨린, 구글, 유니버설 픽처스와 같은 주요 브랜드와의 협력을 계속하며 더 큰 거래 규모와 보다 지속적인 프로그램을 주목했습니다. 예상되는 합병 및 전략적 투자는 1월 1일까지 완료될 것으로 보이며, 회사의 재무 상태와 시장 위치를 강화할 것입니다.
Super League (Nasdaq: SLE) a publié ses résultats financiers pour le troisième trimestre 2024, mettant en avant un accord transformateur avec Infinite Reality. Bien que les revenus soient restés stables, l'entreprise a réussi à réduire de 30% ses dépenses d'exploitation proforma et de 27% ses pertes nettes proforma par rapport à l'année précédente. L'accord comprend une licence mondiale perpétuelle pour les événements de la Drone Racing League ainsi que la propriété de Thunder Studios, TalentX et Fearless Media. L'entreprise a continué à s'engager avec des marques majeures comme le CIO, Visa, Maybelline, Google et Universal Pictures, notant des tailles de contrat plus importantes et des programmes plus durables. La fusion anticipée et l'investissement stratégique devraient être finalisés d'ici le 1er janvier, renforçant le bilan et la position de marché de l'entreprise.
Super League (Nasdaq: SLE) hat seine Finanz Ergebnisse für das dritte Quartal 2024 veröffentlicht und dabei eine transformative Vereinbarung mit Infinite Reality hervorgehoben. Während der Umsatz stabil blieb, erzielte das Unternehmen eine Reduktion der proforma Betriebskosten um 30% und eine Reduzierung des proforma Nettoverlusts um 27% im Vergleich zum Vorjahr. Die Vereinbarung umfasst eine weltweite unbefristete Lizenz für Veranstaltungen der Drone Racing League sowie das Eigentum an Thunder Studios, TalentX und Fearless Media. Das Unternehmen führte die Zusammenarbeit mit großen Marken wie IOC, Visa, Maybelline, Google und Universal Pictures fort und bemerkte größere Vertragsgrößen und nachhaltigere Programme. Die erwartete Fusion und strategische Investition sollen bis zum 1. Januar abgeschlossen sein und die Bilanz sowie die Marktposition des Unternehmens stärken.
- 30% reduction in proforma operating expenses year-over-year
- 27% reduction in proforma net loss year-over-year
- Strategic agreement with Infinite Reality including significant investment
- Acquisition of Thunder Studios, TalentX, and Fearless Media
- Increasing deal sizes and longer-term brand partnerships
- Flat revenue growth in Q3 2024
- Continued net losses despite improvements
Insights
The Q3 results show mixed signals with flat revenue but improved operational efficiency. The company achieved a significant
The company's shift toward recurring revenue streams through longer-term brand partnerships with major clients like IOC, Visa and Google indicates an improving business model. However, with a small market cap of
~ Third Quarter Highlighted by Transformative Agreement and Anticipated Strategic Investment from Infinite Reality including Merger of World-Class Audience Assets ~
~ Q3 Net Loss Per Share Narrows to Improve Operational Efficiency on Continued Reduction in Operating Expenses ~
SANTA MONICA, Calif., Nov. 14, 2024 (GLOBE NEWSWIRE) -- Super League (Nasdaq: SLE), a leader in redefining the gaming industry as a media channel, today announced that it has released third quarter 2024 financial results in the form of a shareholder letter, which can be accessed under the Quarterly Results section of the Company’s investor relations website.
Management Commentary by Chief Executive Officer, Ann Hand:
“During the third quarter, while revenue remained relatively flat, we are pleased with our continued march toward profitability illustrated by a
This union goes beyond merging assets and investment; it is about shaping the future of digital and physical interaction and commerce. Super League will be granted a worldwide perpetual license to produce events and sell sponsorships for the Drone Racing League, a tech-driven global sports property with over 100 million young fans across 170 countries, and we will assume ownership of Thunder Studios, TalentX and Fearless Media to bolster our reach and digital marketing capabilities. We see many areas of synergy between Super League and Infinite Reality, from the cross-pollination of sales pipelines and brand partner pursuits to ways we can accelerate our product development roadmaps.
In Q3, we continued to see a pipeline of blue-chip brands choosing Super League as their immersive and interactive solutions provider, proven through our activations with the International Olympic Committee, Visa, Maybelline, Google and Universal Pictures. We also continue to see indications of a positive shift in our business model in terms of both deal size and, as brands increasingly look to engage us repeatedly and for longer, more persistent programs that create more recurring revenues for us. Coupled with our focus on accelerating market adoption of our higher margin pop-up experiences and more efficient, lean cost structure, we are well positioned to turn the corner into profitability.
Looking ahead, our product and technology approach are how we scale market adoption by leading global brands as we continue to redefine gaming as a digital media channel. Bolstered by the addition of Infinite Reality’s audience assets that will transform the collective entity into a leading global entertainment audience and network strongly capitalized for growth, we are looking forward and see a bright future just ahead of us.”
For any questions related to the Company’s third quarter 2024 financial results or shareholder letter, please contact SLE@mzgroup.us.
About Super League
Super League (Nasdaq: SLE) is redefining the gaming industry as a media channel for global brands. As a leading end-to-end immersive content partner, Super League enables marketers, advertisers, and IP owners to reach massive audiences through creativity, innovation, and gameplay within the world’s largest immersive platforms. Boasting an award-winning development studio, a vast community of native creators, and a proprietary suite of tools that maximize user engagement, Super League is a one-of-a-kind holistic solutions provider. Whether a partner is focused on building a world-class creative experience, achieving a lift in brand awareness, inspiring deeper customer loyalty, or finding new sources of revenue, Super League is at the forefront – always pioneering within immersive worlds. For more information, visit superleague.com.
Investor Relations Contact:
Shannon Devine/ Mark Schwalenberg
MZ North America
Main: 203-741-8811
SLE@mzgroup.us
Forward Looking Statements
Statements in this press release that are not strictly historical are “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. These statements involve substantial risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied by such statements. Forward-looking statements in this communication include, among other things, statements about Super League’s growth strategies, the ability to actualize the benefits of the transaction with Infinite Reality, our possible or assumed business strategies, new products, potential market opportunities and our ability to secure adequate working capital. Risks and uncertainties include, among other things, our ability to implement our plans, forecasts and other expectations with respect to our business; our ability to realize the anticipated benefits of the transaction with Infinite Reality, including the possibility that the expected benefits, particularly from both acquisitions made and contracts entered into with Infinite Reality, will not be realized or will not be realized within the expected time period; the ability to obtain the approval of both the preferred stockholders and the common stockholders to approve the transactions with Infinite Reality; unknown liabilities that may or may not be within our control; attracting new customers and maintaining and expanding our existing customer base; our ability to scale and update our platform to respond to customers’ needs and rapid technological change; increased competition in our market and our ability to compete effectively; and expansion of our operations and increased adoption of our platform internationally. Additional risks and uncertainties that could affect our financial condition and operating results will be included in the section titled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the year ended December 31, 2023 and other filings that we make from time to time with the Securities and Exchange Commission (the “SEC”) which, once filed, are available on the SEC’s website at www.sec.gov. In addition, any forward-looking statements contained in this communication are based on assumptions that we believe to be reasonable as of this date. Except as required by law, we assume no obligation to update these forward-looking statements, or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements.
FAQ
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