Super League Announces Second Quarter Financial Results
August 14 2023 - 3:15PM
Super League (Nasdaq: SLGG), a
global leader in building immersive entertainment experiences, has
released its second quarter 2023 financial results in the form of a
shareholder letter. A webinar hosted by Ann Hand, CEO of Super
League, and Clayton Haynes, CFO of Super League, will be streamed
here beginning today Monday, August 14, 2023 at 5:00 PM Eastern
Time to further discuss the results.
Management Commentary by Chief Executive
Officer, Ann Hand:
“We continued to deliver step-change top line
growth setting another second quarter record. Our revenues saw a
nice uptick from Q1, growing 52% sequentially to just over $5
million, with particularly strong traction delivering immersive
brand experiences in our publishing and content studio sales, which
increased 258%. Our strategy is working, and operating leverage is
kicking in. We are winning a greater share of advertisers’ wallets,
proven through larger deal sizes and high repeat percentages.
With new strategic partners like LandVault, the
acquisition of Melon, a ground-breaking development studio, over
100 brands serviced in the last year, and last week’s launch of
Hamilton Simulator, where we brought the biggest Broadway hit ever
into the metaverse, our rocket ship to the immersive web has lifted
off. Now it is about acceleration and scale as we march toward $100
million in revenues over the next few years. We will continue to
act on all opportunities to further streamline our cost structure
while expanding into higher margin products with the goal of
near-term profitability to drive sustainable value for our
shareholders.”
The webinar may also be accessed by dialing
877-407-0779 or 201-389-0914 (International). A replay of the
webinar will be available on Super League’s investor relations
website and can also be accessed here.
For any questions related to the Company’s
second quarter 2023 financial results or shareholder letter, please
contact SLGG@mzgroup.us.
About Super League
Super League (Nasdaq: SLGG) is a leading
strategically-integrated publisher and creator of games and
experiences across the world’s largest immersive digital platforms.
From metaverse gaming powerhouses such as Roblox, Minecraft and
Fortnite, to the most popular Web3 environments such as Sandbox and
Decentraland, to bespoke worlds built using the most advanced 3D
creation tools, Super League’s innovative solutions provide
incomparable access to massive audiences who gather in immersive
digital spaces to socialize, play, explore, collaborate, shop,
learn and create. As a true end-to-end activation partner for
dozens of global brands, Super League offers a complete range of
development, distribution, monetization and optimization
capabilities designed to engage users through dynamic, energized
programs. As an originator of new experiences fueled by a network
of top developers, a comprehensive set of proprietary creator tools
and a future-forward team of creative professionals, Super League
accelerates IP and audience success within the fastest growing
sector of the media industry. For more, go to superleague.com.
Forward-Looking Statements
Safe Harbor Statement under the Private
Securities Litigation Reform Act of 1995. 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
and growth strategies, the ability to actualize the benefits of the
acquisition of Melon, 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 events that took place during
and subsequent to the quarter ended June 30, 2023, including the
possibility that the expected benefits, particularly from our
acquisitions consummated in 2021 and 2023, will not be realized or
will not be realized within the expected time period; 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, 2022 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
Information About Non-GAAP Financial
Measures
As used herein, “GAAP” refers to accounting
principles generally accepted in the United States of America. To
supplement our financial statements included in our annual and
quarterly reports filed with the SEC, which financial statements
are prepared and presented in accordance with GAAP, this earnings
release includes pro forma net loss, a financial measure that is
considered a non-GAAP financial measure as defined in Rule 101 of
Regulation G promulgated by the Securities and Exchange Commission.
Generally, a non-GAAP financial measure is a numerical measure of a
company’s historical or future performance, financial position, or
cash flows that either excludes or includes amounts that are not
normally excluded or included in the most directly comparable
measure calculated and presented in accordance with GAAP. The
presentation of this non-GAAP financial information is not intended
to be considered in isolation or as a substitute for, or superior
to, the financial information prepared and presented in accordance
with GAAP.
Investor Relations Contact:Shannon Devine/ Mark
Schwalenberg MZ North AmericaMain: 203-741-8811SLGG@mzgroup.us
Media ContactGillian
Sheldongillian.sheldon@superleague.com
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