Motorsport Games (MSGM) 12 Aug 212021 Q2 Earnings call transcript

Thank you for standing by and welcome to the Motorsport Games Inc.

Second Quarter 2021 Earnings Conference Call. All participants are in a listen-only mode. There will be a presentation followed by a question-and-answer session. [Operator Instructions] I would now like to hand over to Ashley DeSimone with Integrated Corporate Relations. ahead. go Please

Officer; and XXXX operator are earnings By This quarter is of the Relations to Games Chief Motorsport Kozko, release Financial available New, and Thank company's call welcome Officer. and access quarter Executive Motorsport the and after Chairman conference section Games' call Hood, webcast. second President; Motorsport Jon at everyone you, on Executive everyone Stephen now, Chief filed On Dmitry www.motorsportgames.com. Games' have today should to second press closed. website market Investor today's

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everyone. I President My Thank you, Stephen hello and Games. and Hood, of name Motorsport Dmitry is am the

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over review a New it our second of give to to hand quarter financial me Let Jon results.

pleased to Thank Stephen. call. We're second you, XXXX quarter conference our everyone welcome to earnings

X.X and XXXX a the quarter for June minority XX%. highlights quarter. Studio XXXGames or the million of and respectively, acquisition, of decrease quarters XXX million X.X were during include X.X of remaining the million second XXXX the Our Revenues interest XX, closing ended and the buyout in

to For months the sales in period our due The revenues period. from June prior million or our PC X.X reduction to a lesser our a XX% the and NASCAR console to gaming XXXX to lower in primarily revenues. decreased million X.X XXXX, gaming compared games, was the X.X three XX, mobile from segment revenues segment extent, million ended and in year of decrease

and Our quarters revenues XXXX June sponsorship decrease ended the Esport XXX,XXX XXXX XX, revenues a were for from zero and of XXX,XXX respectively, received.

and did X.X increase million While was second for we we events revenues or or ended our sponsorship increase million they administrative Esport XX% during expanding not in the were and insurance held million events X.X incurred and XXX,XXX Gross in events costs, expand higher acquisitions, game marketing. growth, The of million X.X in and primarily increase a relating earn June in XXXX, in X.X to ended ended X.X June for quarter as general primarily in was a attributable XX, quarter the expenses fees, was ended these ended increase development revenues and resulted share expense, to quarter to respectively. adjusted compared XXXX XXXX EBITDA stock connection headcount loss ended quarters relating amortization gross respectively, XX, and million, and EBITDA increases expenses XXX,XXX of by quarters expenses quarters of XX, decrease increase of XX% a have or Esport profit at the with in professional stock the XXX,XXX non-cash margin and XXX,XXX for or and gaming XX%. X.X acquisitions from decrease in percentage partially staffing XXX,XXX in loss costs Cost in XXX,XXX $X,XXX general any the prizes, administrative to $X,XXX the respectively, X.X attributable compensation reduction for portfolio Games XXXX. our quarters adjusted Revenues A of respectively. and and a ended X.X $XX,XXX increased million due a and for which percentage our X.X million and Operating million and of Motorsport XXXX increase X.X for planned The primarily XXXX million revenue second in June million increase an XXXX, to the for Net expenses as positive profit and for XXXX of were per decrease June million profit gross we With games salaries of or based XXXX, was six in respectively, XX, sales million XX%. million X.X XXXX, the June common of than the higher offerings. amortization seven XXXX and office X.X benefits, XXXX. to X.X ended Esports Class in June and an a of of Negative XXXX, million million for as the to quarter X.X XXXX expense segment during digital increase of gross of XXXX, and offset million XX, million X.X compared our was in months X.X were revenues includes XX, of X.X the units. million for gross $X.XX physical XX, sale and quarter revenues of June X.X June expenses. our segment the for XXXX XX, lower

XXXX, six revenues from compared $XX,XXX our revenues. the revenues due NASCAR a the in X.X XX% primarily segment to from sales was for ended XX June months our reduction games million the months extent and and were ended For XXXX, June or a XX, our respectively. period Esports The XXXX months gaming XXXX June console XXXX. mobile lesser segment ended for revenues PC segment and XX, six the X.X games $XX,XXX lower million and to million six decrease to X gaming in to decreased of

of XXXX million for and XX, the XX% gross X first due XX%. or profit offset percentage in million XX decrease XXXX decrease of during was million And increase were revenues. Gross in higher ended gaming reduction units. partially gross X.X of months sale or a amortization The have XX% than revenue and in profit decrease and sales revenues the June a held primarily they six of again, the to marketing months XXXX. XX,XXX digital This sponsorship or So margin the by X.X revenues, increased expense. physical that's events of a was respectively, lower efforts. the was primarily We of due an which six to

our expand increase million IPO XX.X expenses, salaries XXX,XXX million of as office stock larger in increase related acquisitions, and X.X insurance XXXX, a a based segment a XXXX far sustain The to increase to resulted We professional to for Esport in Operating events for and a million and respectively. XXXX, and expenses expenses, of XX.X compensation, for months year. of to increase relating costs Esports respectively, X.X June X.X costs XX in million ended was attributable due administrative the a larger loss $XXX,XXX increase in in the the XX, our XX.X increase X.X respectively. XXXX and XXXX an and X.X and million primarily in an we and portfolio, and of six million game million X.X million increase XX.X primarily gross ended and June increase That's portfolio, XX, gaming in benefits related increase was were fees. in and non-cash months million X a the increase million million XXX,XXX and game million months increase at marketing profit in staffing held support comprised expenses to segment expenses revenues, for lower general and XXXX, gaming gross Our general in prizes, ended X.X six development six events and June XX, so this of sales offering. a X.X primarily to expenses, million administrative $XX,XXX product

Class Negative X.X versus Inc. Motorsport six ended XX.X months per was loss to EBITDA $X.XX XXXX. for Our common the versus XX, million net XXXX. Motorsport XX, the for ended million ended Inc. six quarter adjusted for share June net of was months of million, of stock months XXXX June A adjusted Games ended positive a attributable the for or June XX, X.X XX, attributable loss six Games June EBITDA XXX,XXX the XXXX to

XX: the revenues year, Ignition, for million. on Let's for be adjusted million to fourth release balance And to expect XX us be expectations given touch go year today. quarter the financial joining XX.X Thank questions. full EBITDA to of you approximately the of approximately let's Operator? we now our and negative NASCAR

you. Thank

question-and-answer from comes go the Instructions] begin now question ahead. first session. Please from will We Michael [Operator Your Graham Canaccord.

on Hey, guys, congrats you. looks info for the game of The thanks launch the set. video cool. Thank and the all getting

to So earnings thanks start questions. about timing for the as just in And you'd It was launch. a wanted call. well. have a I the month indicated few of than the later that I last just with

one it to was little one there just what question maybe that a just in positive puts the was making? factor And those season you so seems about wondering holiday launch like from were development just a And can anything. then and bit if you extent decision if is to delays, that the closer learned the talk that I'm that thing a your

I Stephen. that Michael. one, probably Hi, it's can take

towards as extended effectively And a for a dynamic planet. our process, us, a it's not relationships. mean, We including been the home different to of certain we're and probably moment. And dotted work fast think Sony impacted about that had test in office in a partners for And that we particular lot the that fair clear challenges it's it we've comes quite and the the at only so reasons and we've hardware Microsoft can't end lot this world. testing At and say from from If rules to the all to I to occur our home us contribute learned the specific why one moving learned that from would the timeline, pandemic. are at tweaking teams and challenge technical predict we have world, very to game liked. has length learned the it environment. this but have around to we've over because people and the those studios going that's a the changing talked times, extent I project from through home there's we've than to how one of when does from us. scenario local more that around meant relocate restrictions it's work have thing from cause a

superstars I have we us kind just can and understand the ever extension it's of also game, recent significant, rolls of this think to their into address opportunity the been games. have quality So input of that that and into given important I to end the leverage product, sport changing I has as improves this quite multiple the address joining also most to of games. think been the which And period dynamic if the subsequent products input from

lot there And as a positives on there's are So take learn. to to well. this

If question. add, for it's I Thank Michael. you may the Dmitry,

from with the added being benefit part, reasoning the you little factors, contributing does but Stephen the the give holiday On us as two on it holiday heard schedule a closer.

be Black especially So going could to the cycles, the than the into our participation. we'll type envision at in being normal discounted titles new us physical more so closer locations the Friday's stores, you demonstrate release that of

to closer cycle, So will believe to newer, holiday as being we us. the be beneficial

just Okay, the makes the is then sense. on other ask guidance. that I to wanted question And

some mobile all, guidance I'm games, just tremendous I think and did console was Esports think of of guidance? primarily Or streams time, revenue? those that's console factor the your of when you outside significantly game the you're into about of it's the your wondering think First issuing around like other revenue great. for I guidance that built your some first

XX: console Go PC was ahead NASCAR Jon. guidance our the Ignition. primarily release of the The and around

revenues we revenues. And also we have have kicking in. Yeah, also

We so from XXX, also kicking ramp up. to revenues have Studio that's in starting

coming bit too. little there from a there's So

Got Heat, at seem release one touch about DLC the queue. of - be excited the back the point just I, also versions and guess, those? okay one of that me, about big big sort on you maybe go And just then jumped be in prior things you a your and out the from game just emphasis. emphasis, the was are much to those in of an I I'll and of to point seemed last two a how addition I of and positive launch can of me for how NASCAR features mode are career the component

build we title had have Elliot champions additional avoided bringing about going champions from with nowadays whole excited to of Billy playable really to of the character, going personalization as to was done importantly, think we're the had edition, have ability good definitely that been schemes. not rolling out, since versions opportunity more - some this we content. before. to excited and I what There robust insight paint an give what this versions to We're and of is really so benefits about, previous content, we've be carry possible to previous a pre-orders scratch, really we're in type a is participate as But by especially been the than from what to kind community they game paint the desire. that deliver fans such to booth very a the really, our more

I of fan will have to type that this the But users from So features brand content new look starting about us brand NASCAR the in allows that. and more new just we're is just some user physics, think of around we and prove And commentary know product of will early graphics, the the of for. to that terms course, going those emotion bring today was that game. it's of the downloadable the We're that and the earlier that's than wow trailer tracking excited more more personalization's released the offerings that concern. contents feel we're since about desired is the so of scratch, game this something excited there just built in

back queue. in go I'll much. the so Thanks great. Okay,

you. Thank

question ahead. from is next from Mike Please Your Hickey go Benchmark.

for thanks great first the meet you. guys, taking quarter one Jon, guess Stephen, questions. to Dmitry, Hey, my I

I sort click sounded mentioned you prepared it iterations. clear was was record double sounded of compared selling, of gave it think on of sort wasn't I that like quite piece? your But to indication substantial. pretty you prior that it an Could physical there. in remarks like some

Thanks, question. Sure. the for Mike

And of our series biggest release, majority in Normally you're what us. is which which estimates to correct. collects is are pretty yes, supplies one. with with the I for order because before a the that one paired the say happens the this those for And is accurate the information through stores is - meetings that pretty is obviously, we into And order, translate So, in one, cycle seen accurate almost their reason what we main distributors. what large distributor during retailers, provide sorry, the estimates. go of have historically, statements,

the on quantity distributor So our order. estimates day it's one accurate of or increase back that when pretty day they're down increase very a their one, certain on but they units afterwards, amount, either they do rare that

is our not largest significantly So momentum that to say today games order. estimates demand. have to has our it as units, where of is large clearly published, that we those breaking we received for definitely sort also record those is when we largest you we a other the compare I'm but it alluded which when data from compare historical distributor, has the able a to, to might it's and it's largest, create Motorsport that us, our Games want against indicated we already it are

time. last of one instead those throughout taking want So come a initial one of just that in, orders continue period we might to to

Nice. you. Thank

exciting. I think up going tomorrow. to what open start expectations? That's you're Or your digital pre-orders you are providing for incentives pre-orders digital? to mentioned you there Are on

the yes, excited unique game, are that pre-orders, to are very Absolutely access pre-order. a early there's give schemes paint somebody will play And, access, additional there's two to folks early and that that's about. if what the day those incentives we're

adopters those So additional indication to for to have what's of those our the good have ramp us give we for good enough a be large incentives do And ups historically that for our to in. that to orders us selling might early is pre-orders proven hop stores.

pass back to continue we our So forth and this distributor. with data

their type it the So even let's though them talk we're to is estimated we bring a day for, doing one essentially call order. to insight pre-order an some have two quantities how of ability order of still about already on day

Nice to? for game or they is the awareness plan NASCAR helping creating are

homepage, a nascar.com only it of channels, And that unveiling, within to proud and are teams. definitely them, social as so not on within trailer within their absolutely on minutes up unveiled earlier They pent our demand there's on. so say today, drivers, and us and we appeared

schedule title. definitely towards the So there's we going be different of to to entire of NASCAR and we're forward promotion received looking things something that this is contributing an that

Dmitry. when Thanks tough think question last was home seeing you sort on I me what of had or sort of issue, are here, you the I as for year confidence audience reality, obviously reopen you Last economy? player the guess, core engagement from and shuffling an

towards do increase an still we now. and see time We if compare pre-pandemic

additional an were during there and of than times pandemic - a if we the compare we're during pandemic if were but increase, before. period higher still course, to compared we now, to Of we now, pre-pandemic

a and stage. that the but go it increase down did times, pre-pandemic did pandemic So plank, little to not bit,

also an are our usual. Of course, than users older experiencing title

So this we cannot wait soon to hands on title. as interaction see what looks their this like new they as get

Awesome, of luck Best in thanks, guys. launch your up October. with coming

Mike. you, Thank

Thank you.

ahead. Davidson. from Granda D.A. Your go is from next Please question Franco

this media, questions on the media social all, noticed people of people my to the there. are talking taking was been cautiously all social excited to I browsing channels, very models. things for are the optimistic, that get It's the attraction one Thanks of look and of kind everybody's through can what excited. everyone. the the are But damage congrats as afternoon. and of some afternoon, Well, I first Good like, about I've launch trailer. of see

me today? like So about you of in your looks damage I how's for ahead model it you guess do launch? question is shaping the to And car how how the feel up

made is on ground, contact they're stuff experience see the to question, more I Stephen. bit of fair NASCAR feel the effort wonder the it's one, fact the everybody Franco, one a visual why. on the the important driving sure car, towards we whole you're us is you a the The gravitate good Hi, we love not us, that get for shell, tires, body do you that to will in things model is something of point the It's damage seems a everybody for believable. engine the into. machine. the to of I'm the the have game, and work that. convey accident try important to an within damage the makes thing A put very day only rubber, whatever or in or on this But will smash Because cars that try really big

even in go and think the So for to did overheat starting I I smoke example, trailer, see see starting live, it team the as can in engine you an the repair garage to it.

on a it in toy rather to trailer, this racing in but game, few the be than up a will driving final more as believable games. most people feel machine in you do pick the like the Now things

showcasing visually, it's damage goes terms step a NASCAR hand believable. the in and making above franchise, the the Heat more of whole us So experience actually for also is which in hand

car. a You're driving

that But people alike. experience do fans for I will So we're be and lot more initial to think add will going this over and know impressed. time. the installment, to to And a suitably it old we new please the

Yeah, giving few And quarter. revenues in that thanks had no hours. a this the assure can them will I you for color. the you they obviously notice then And Esports

in what guess up I of like have XX is you coming rest or the So the segment your Obviously here year? outlook the in so. Mans Le days for

So on event how any you're compared monetizing any changes this year. making whether to last to color you're

the for it's Franco, Hi, question. Thanks Dmitry.

as So we And a if call, at getting marquee to have are QX, look quite few definitely, the events. such. you our ready not did on launch Esport we mentioned

with is talking of going be terms Le results we're that a Mans bit continue grow virtual in course, expect derive difference how to in in here, both So, audience of Esport. the sponsorship so official be targeting launch of of will multiple IndyCar, with Esports year, together this also towards And those official contributions IndyCar, official of something towards recent we QX revenue BTCC end ones that addition be an an our for lines. are we could to could attracting something terms a would of about revenues. of the you of could the of to we quite to soon type And community our year very or that and have quickly the

a on separately We guidance haven't it. given

So we're includes year, which our that. XX.X to the sticking for

Do from later any you. And you on have year? Thank this Esports onto integration last the update then, one traction me.

towards will maybe looking points end call be So said towards sort where Franco we in year, the such. some include events. of our in the we if of conduct are the able own to we their Yes, previous of we're discussed referencing folks functionality where to you're of development

looking We couple our along in we're haven't development with roadmap. a traction. of and features It on announcements other is still to to bring still made that

for you much very color. the All thank right,

you. Thank

Markets. Kupinski question ahead. Your from next Noble Michael Please go Capital from comes

Thank I that. for my taking questions. you greatly appreciate

hand? current couple, Just have I But hand did your all, may on the a you over first of on maybe - go cash missed this. cash

No, we million, didn't, two. million - XX XX between those million today XX

you. I bit curve And sales. games, the sales impact Has the have and prices differently of went this. you've through a video of wondering for in particularly different it then related thank seen from we that that been normal into little you of that Okay, sales unit bell just Has might you been XXXX, terms terms anything games? But in than about talked see to been elevated? the was we different, seen as XXXX normally the curve COVID,

question. the for Michael, thanks Hey,

experienced, reduction seeing new definitely, title and uplift the from since of is July a Also, we year. that COVID kind of some that. So had of we last there

title middle in we last schedules, we year. new is does year. look did we hands see the elevate curve we referenced release does title if haven't you But newer a a COVID sort as This of our year, would terms were pretty throughout last like we year, one. it align the So of to small that different. had there impact the bell in Therefore, but contribution, of help the a had on the

or pricing both. And as was that both and on on well unit sales

sales, unit against information. historical our pretty been has pricing on our consistent Mostly

NASCAR follow and are I of I and And up you that bit call window? mean, would then for reason, any do NASCAR ideal would there to how any season that feel would in window launches XX season in be expect finale, from NASCAR the compete What of the the what case be you - things other pole lunch titles for might sort November terms of the with what question close little X that Ignite? to finale thing. a slips might you on launch be tent the launch your would that just be type would Ignite, to that. would you lift like of the October Got for around Just there a launch hope

in a joined That season we us. so try that launch of a that's September is one our we years trying speculate Similar less to be. year definitely for the for during contribution trying is to only has historical the as time recently, date a from be success allowed compared us more But that optimal window a July that three window shown us. data as has or would did September for their a see launch. good finale month And do time little take it another that it We last like September. us of a to superstars proven in team that referenced. have towards to that bit to how chosen season So we end the Stephen

demand see a of season. the for is towards usually is us. the October like a the at end just season, So But demand one beginning new a of we there do the

those of hope rise. one to ways it's that So we

is in titles, to But Now, as the there far scheduled of November motorsport force as are now of come your that the is IP. a out beginning in additional horizon out question we of coming November. only or

jokes par. So to us of this our game, up else. some from shine a that does really there's quality smirks making guys even to around differently as is on But light Microsoft anything than been the

referencing their own So title. they're maybe

And that's had. all luck. great, good Got you, Thank you. I

Thank you.

you. Thank this further closing now I'll at remarks. Kozko no questions Instructions] hand are to [Operator back There time. for any Dmitry

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