Super League Reports First Quarter 2025 Financial Results
Company Maintains Focus on Streamlining Operations: Substantially Reduces Operating Expenses & Net Loss
On Track to Reach EBITDA Positive in Q4
SANTA MONICA, Calif., May 15, 2025 (GLOBE NEWSWIRE) -- Super League (Nasdaq: SLE), a leader in engaging audiences through playable media, content, and experiences, today released first quarter 2025 financial results.
Super League Chief Executive Officer, Matt Edelman Commented:
"Our first quarter 2025 was a period of realignment for Super League in an effort to adapt to structural shifts in the Roblox ad ecosystem and macro headwinds while positioning ourselves to achieve EBITDA profitability leading to long-term sustainable growth.
As outlined during our previous quarterly conference call, our strategy calls for streamlined operations through cost controls, revenue diversification and a focus on larger, higher margin programs. Our successful entrance into the mobile games arena exemplifies this strategic shift, having already grown to 15% of our revenues.
Against the backdrop of increasing industry consolidation, we recently acquired Supersocial, an award-winning Roblox studio with previous clients including Gucci, e.l.f. beauty, Walmart, Universal Music Group, and more. With just that one deal, we now have a Roblox business that has delivered 49 immersive builds, racking up more than 390 million visits and 3+ billion impressions on the platform. We continue to target potential strategic opportunities that present clear revenue and cost synergies and accelerate our path to EBITDA positive.
Looking ahead, we have a strong pipeline of nearly $20 million in active opportunities across approximately 100 programs. Super League sits at the thriving intersection of interactive entertainment and advertising. We see a lucrative opportunity in the future of playable media and continue to gain the trust of dozens of iconic brands every year, which puts us at the forefront of this important space. We are one of the leaders in making brands playable and believe we will be one of the winners to capitalize on the massive shift of consumer time spent consuming playable content, with a plan and approach designed to create long-term sustainable value for our shareholders."
The Company will host a webinar at 5:00 p.m. Eastern Time today, May 15, 2025, to discuss financial results, provide a corporate update and end with a question-and-answer session. To participate, please use the following information.
Super League First Quarter 2025 Earnings Webinar
Date: Thursday, May 15, 2025 Time: 5:00 pm Eastern Time Dial-in: 1-877-407-0779 International Dial-in: 1-201-389-0914 Webinar: Register Here
A replay will be available within 24 hours after the webinar and can be accessed here or on the Company's investor relations website at https://ir.superleague.com/.
For any questions related to the Company's first quarter 2025 financial results, please contact SLE@mzgroup.us.
About Super League
Super League (Nasdaq: SLE) is redefining how brands connect with consumers through the power of playable media. The Company provides global brands with ads, content, and experiences that are not only seen - they're played, felt, and remembered - within mobile games and the world's largest immersive gaming platforms. Powered by proprietary technology, an award-winning development studio, and a vast network of native creators, Super League is a one-of-a-kind partner for brands looking to stand out in culture, spark loyalty, and drive meaningful impact. In a world where attention is earned, Super League makes brands relevant - by making them playable. For more information, visit superleague.com.
Investor Relations Contact:
Shannon Devine/ Mark Schwalenberg
MZ North America
Main: 203-741-8811
SLE@mzgroup.us
SUPER LEAGUE ENTERPRISE, INC.
CONSOLIDATED BALANCE SHEETS
MARCH 31, 2025 AND DECEMBER 31, 2024
(In U.S. dollars, rounded to the nearest thousands,
except share and per share data)
March 31, 2025 December 31, 2024
-------------- ---------------------
Assets
Cash and cash equivalents $ 747,000 $ 1,310,000
Accounts receivable 2,568,000 3,766,000
Prepaid expenses and other
current assets 958,000 677,000
Total current assets 4,273,000 5,753,000
Property and Equipment, net 18,000 24,000
Intangible and Other Assets,
net 3,629,000 4,070,000
Goodwill 1,864,000 1,864,000
Total assets $ 9,784,000 $ 11,711,000
============ ==============
Liabilities
Accounts payable and accrued
expenses $ 5,373,000 $ 5,282,000
Accrued contingent
consideration 124,000 138,000
Promissory note - contingent
consideration 1,727,000 1,735,000
Contract liabilities 633,000 50,000
Notes payable and accrued
interest 5,008,000 3,240,000
Total current liabilities 12,865,000 10,445,000
Deferred taxes 161,000 161,000
Warrant liability 219,000 935,000
Total liabilities 13,245,000 11,541,000
------------ --------------
Stockholders' Equity
Preferred Stock - -
Common Stock 95,000 94,000
Additional paid-in capital 270,710,000 270,111,000
Accumulated deficit (274,266,000) (270,035,000)
------------ --------------
Total stockholders' equity (3,461,000) 170,000
------------ --------------
Total liabilities and
stockholders' equity $ 9,784,000 $ 11,711,000
============ ==============
SUPER LEAGUE ENTERPRISE, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE THREE MONTHS ENDED MARCH 31, 2025 AND 2024
(In U.S. dollars, rounded to the nearest thousands,
except share and per share data)
Three Months Ended
March 31,
----------------------------
2025 2024
------------ --------------
REVENUE $ 2,718,000 $ 4,209,000
COST OF REVENUE (1,522,000) (2,477,000)
---------- ----------
GROSS PROFIT 1,196,000 1,732,000
OPERATING EXPENSES
Selling, marketing and advertising 2,392,000 2,277,000
Engineering, Technology and
Development 929,000 1,699,000
General and administrative 1,520,000 2,102,000
Contingent consideration (14,000) 259,000
TOTAL OPERATING EXPENSES 4,827,000 6,337,000
---------- ----------
NET OPERATING LOSS (3,631,000) (4,605,000)
---------- ----------
OTHER INCOME (EXPENSE)
Gain on sale of intangible assets 243,000 144,000
Interest expense, including change
in fair value of promissory notes
carried at fair value (1,402,000) (18,000)
Change in fair value of warrant
liability 717,000 (761,000)
Other (157,000) (20,000)
OTHER INCOME (EXPENSE) (599,000) (655,000)
LOSS BEFORE BENEFIT FROM INCOME TAXES (4,230,000) (5,260,000)
PROVISION FOR INCOME TAXES - -
NET LOSS $(4,230,000) $(5,260,000)
========== ==========
Net loss attributable to common
stockholders - basic and diluted
Basic and diluted net loss per
common share $ (0.25) $ (1.00)
========== ==========
Weighted-average number of shares
outstanding, basic and diluted $16,953,860 $ 5,240,755
========== ==========
SUPER LEAGUE ENTERPRISE, INC.
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATION
(UNAUDITED)
FOR THE THREE MONTHS ENDED MARCH 31, 2025 AND 2024
(In U.S. dollars, rounded to the nearest thousands,
except share and per share data)
Three Months Ended
March 31,
----------------------------
2025 2024
------------ --------------
GAAP net loss $(4,230,000) $(5,260,000)
Add back:
Non-cash stock compensation 284,000 332,000
Non-cash amortization of intangibles 541,000 683,000
Change in fair value of warrant
liability (717,000) 761,000
Other 443,000 136,000
Proforma net loss $(3,679,000) $(3,348,000)
========== ==========
Pro forma non-GAAP net loss per common
share -- diluted $ (0.22) $ (0.64)
========== ==========
Non-GAAP weighted-average shares --
diluted 16,953,860 5,240,755
========== ==========
SUPER LEAGUE ENTERPRISE, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE THREE MONTHS ENDED MARCH 31, 2025 AND 2024
(In U.S. dollars, rounded to the nearest thousands)
Three Months Ended
March 31,
----------------------------
2025 2024
------------ --------------
Operating Activities
Net loss $(4,230,000) $(5,260,000)
Adjustments to reconcile net loss to
net cash used in operations:
Depreciation and amortization 547,000 700,000
Stock-based compensation 284,000 332,000
Change in fair value of warrant
liability (717,000) 761,000
Change in fair value of contingent
consideration (59,000) 116,000
Change in fair value of debt at fair
value 495,000 -
Gain on sale of intangible assets (243,000) (144,000)
Fair value of noncash legal
settlement and other noncash
charges - 164,000
Changes in assets and liabilities
Accounts Receivable 1,198,000 2,048,000
Prepaid Expenses and Other Assets (352,000) (48,000)
Accounts payable and accrued expenses 107,000 (2,548,000)
Accrued contingent consideration - 142,000
Contract liabilities 583,000 (6,000)
Accrued interest on notes payable 184,000 -
Net Cash Used in Operating Activities (2,203,000) (3,743,000)
---------- ----------
Investing Activities -
Proceeds from sale of Minehut Assets 383,000 -
Capitalization of software development
costs (100,000) (125,000)
Net Cash Used in Investing Activities 283,000 (125,000)
---------- ----------
Financing Activities
Proceeds from issuance of common stock,
net of issuance costs 231,000 -
Proceeds from the issuance of promissory
notes, net of issuance costs 3,079,000 -
Payments on promissory notes (2,075,000) -
Accounts receivable facility advances 259,000 371,000
Payments on accounts receivable facility (137,000) (801,000)
Net Cash Provided by (Used in) Financing
Activities 1,357,000 (430,000)
---------- ----------
Net Decrease in Cash and Cash
Equivalents (563,000) (4,298,000)
Cash and Cash Equivalents at Beginning
of the Period 1,310,000 7,609,000
---------- ----------
Cash and Cash Equivalents at End of the
Period $ 747,000 $ 3,311,000
========== ==========
(END) Dow Jones Newswires
May 15, 2025 16:15 ET (20:15 GMT)
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