Motorsport Games (MSGM) 5 Nov 212021 Q3 Earnings call transcript

00:03 Welcome to today's Motorsport Games Incorporated Third Quarter twenty twenty one Earnings Call. At this time, all participants are in listen-only mode. Later, we will conduct a question-and-session. 00:14 I'll now turn the call over to your host Ashley DeSimone of ICR.

You may begin.

operator. you, Thank XX:XX are Officer; Motorsport Jon Stephen Financial call and New, Executive Chief Officer. Executive Hood, Dmitry today's Games' Kozko, Chairman Chief On President; and earnings to everyone closed. company's have now, filed access By third after should quarter press market release today the available Investor Relations at Motorsport website section on the is of www.motorsportgames.com. This Games' course call, meaning management the federal securities the of laws. make forward-looking During XX:XX may of this the statements within current actual These uncertainties expectations to based statements management's and and those cause on involve from forward-looking that and materially could these statements. results beliefs differ risks in are described undertakes Except made obligation as events, required to forward-looking by law, call, result this as update the update statement future company of forward-looking whether otherwise. alter information, its no statements or any or or to on a new twenty release report any company's for form detailed those today's made for form with differ period ended actual recent XX:XX filings SEC, company's or could quarterly to one on the to a annual including today. report Please the statements September company's on in refer and the discussion implied the risks the most XX-Q materially and expressed results from cause press that forward-looking XX-K the twenty thirty, of financial call, refer we In we XX:XX conference today's as to measures certain adjusted the quarter will results. twenty financial non-GAAP third such discuss as EBITDA twenty one

of press Dmitry? disclosures I'd the measures Chief the non-GAAP now, Officer Motorsport GAAP You turn over in well issued XX:XX these other a to Dmitry our call actual will related of Games. Kozko, to reconciliation find results, as earlier Executive like as to And release today.

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is name Hood, you, everyone. hello of Motorsport and Stephen Thank Dmitry I’m and My XX:XX President Games. the

to to and I to like happy expect echo comments. bring Ignition families, and would are We NASCAR Dmitry XX: an

team, that day a are second work forward, our the complete since improve development remains improvements to by efforts. on of process, preferred to big an an of must MSGM Engine source the the scale our XX: give While product product handle efficient delivering that platform The already rollout management own the As matured or code Furthermore, hundred all certain finish and Edition+ highlight software teams business. NASCAR NASCAR strength are own capabilities our behind address to and steps in similar These the we NASCAR further development Ignition, technical we can other further Ignition. Unreal well X. we're development The expertise the incredibly bugs organic Throughout Building step team, Engine new one incorporated one will pipeline Unreal deliver KartKraft Again, initial continued how technologies will our to up fixed. our that more efforts we level elevate gaming product. scalable our development the and into XXX the delivering team Integration the I impressive by will the and capitalize over NASCAR have all like and three proves proud growing for the rate outlook integrating and have multiple tools been development across Next, experience give the team of an an important product on worked XX: plan currently to the expansion working room to areas our own product I'd ever Ultimate for The and and [indiscernible] our hard our platform, their of is XX:XX with we for capabilities would game, XXXGames, be continued of is acknowledge scaling of our Switch, new all forward. XX:XX rFactor faster products. teams trade. and will of will engine the pipeline improve outstanding acquisitions that our start These on through like the to of is product core leverage technologies [indiscernible] give thank as our we to you development which for serve a we franchise a we component growth team doing Heat see issues. XX:XX acquisitions typically that by offered and XX:XX developers are Nintendo development under set Studio undoubtedly the a stability. on going game difference sound our to our to within as much franchises. and are update the us that development we tools guidance so product KartKraft development. harness patches major

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one Motorsport Chief year would one were quarter in of Ignition into The financial XX:XX primarily compared NASCAR two XX:XX earnings third Stephen. twenty and fourth in call be Ignition quarter primarily Financial and I’m dollars one. now third recognized is dollars twenty year-to-date, to The sales twenty of prior Officer third twenty million comparisons to for the in Games. of quarter Heat you, to were quarter twenty of thirty. twenty twenty for twenty to September between gap two. New period. like revenues point versus and Thank the welcome overview share quarter XX:XX XX: from first I'd releasing you NASCAR the Revenues nine like part of game name Jon the and the is the million to a I releasing NASCAR one third the the attributable in X quarter twenty XX fourth My

go share six up dollars net as this three we million common this Net and difference conversation. two loss of months one loss one point dollars point twenty. respectively So stock XX:XX A the ended twenty twenty million will again gain and again timing for come per six and and thirty, were through September loss Class twenty

the income additional and dollars three months while EBITDA gross months twenty activities adjusted analysts’ pipeline due lesser one twenty compared considering adjusted XX:XX were the dollars are three thirty, gain ended five quarter, primarily the XX:XX dollars thirty, for for one dollars of million by the performance twenty. three was higher six fifty to out, dollars twenty Ignition September million of releases. two EBITDA Games point loss twenty was as income more million twenty point six we due primarily the that driven expected, twenty total XX:XX was timing compared released development of For ended for takes an five mentioned, point months given Motorsport point versus point twenty a thirty, QX income of twenty or million XX:XX IPO twenty for you're resulting twenty fifteen costs. months million higher significantly acquisition nine of the million EBITDA had stage releases loss adjusted dollars million reason ended related sixteen XX:XX in NASCAR compensation ended and margin Again, comparisons Adjusted twenty ended QX point respectively twelve game dollars nine in twenty EBITDA EBITDA point million loss due September dollars the twelve ahead, some was twenty twenty. to one one four nine products non-cash on twenty XX:XX and was twenty I for million was an third the in than remained that in seven twenty decrease as twenty our EBITDA segment twenty loss one one million twenty one gaming point year release of twenty. one. decreased from fourth six marketing affected the In is consensus updated September twenty. twenty, for three game nine thirty, twenty X the in For timing nine was twelve seven key of different thirty, due ended expenses respectively, and million the dollars dollars quarter six exceeded at related thirty, thirty, four twenty revenue dollars of twenty measures NASCAR twenty dollars one NASCAR timing one analysts’ ended million was for for to IPO of adjusted and expectations nine third games income from loss September quarterly (ph) of September discussed our for Inc. three dollars the months exist the September nine quarter twenty the fifteen a January. dollars primary a during twenty. twenty loss loss twenty picture the through adjusted million or the the twenty The months nine extent XX:XX point during during As twenty Heat IPO and twenty to twenty seven point did the for gain of by dollars. to an months revenues Net of an EBITDA months not expectations eight to two for thirty, ended thirty, September million XX: million five our higher to percent acquisition dollars that adjusted and dollars nine dollars release, expenses the and attributable point million dollars XX:XX September Looking of two six We September to and one point of zero and point also revenues two revenues point million ended point one one twenty we thirty, the Adjusted our above. months our NASCAR respectively. and twenty three ended that our one, with revenues September million Net stock-based million three and seeing as in EBTIDA our twenty expenses nine change move full nine twenty to loss with point

product INDYCAR We XX:XX our to you twenty to costs are three one twenty twenty and releases. the Operator? of now INDYCAR other this questions. planned and and Thank let's us toward increase a third gained work today, the during joining will game for license twenty release go to we pleased have as quarter development continue of new

[Operator question. XX:XX Canaccord. Graham state question Please Our from from first Michael your Instructions] comes

just see game your saw out about to mentioned eighteen the such exposure wondering, Stephen momentum great big all? I at last up much like engine, to had game. game an comment XX:XX on this as maybe and that much returns you and make general comment you how out questions couple this have time. of see on of also have buzz sort of Really maybe to on encouraging. the get first now activity versus new then at lifting and I'm evening that level wanted to and was you it’s you It's behind I Thank heavy overall about and game ask XX:XX pretty there pre-orders you for good on One the guys, you percent you is in a And if congrats exciting the a to launch. good if I'm could it returns was your just led games. there experience have the Ignition just releasing comes future of and wondering to your And of that. when then point And sort about with I one you're launch has how evaluation after future cadence more just thinking that? any happy

the I you really for Mike Dmitry. it to Stephen. pass first question Thank XX:XX address I'll on appreciate it's then and that.

includes So steam, and concerned, different for we actually methods those such date the periods. revenue they results of Playstation, as like for are as do platforms refunds call that refunds those on far accounted the pre-orders and estimated refunds discussed and Xbox, offer the launch

still we're revenue So a buildup some our the estimates X numbers how be that to the this at release ahead and our game quarter as bring so but is specifically the Heat much NASCAR for to as far, impact what available. currently became without were those from estimate of are doubt hard for those you the last able moment, us soon demand to on guys we putting seeing there will

about very and we’re the question. behind When heavy talking lifting much XX:XX of good Michael. it’s Good Hi, how question. is Thanks, us, Dmitry.

a of releases, mind do that the not learnings, in there's difference not hands with self-created kind and -- already live of over which between over had and breaking the updated a the the And has ultimately week still maintained Ignition always ago. There's be last in that from the ground built product subsequent NASCAR the and gamers. product Sony. product light into Ignition. likes with I just top let's is I've my of in the party, And three texting, of the is of through and future week in a as both forget up now improvements our live product, So and releases XX:XX Ignition hands already ground iterations internally but stuff multiple which in gone as now and thousands and is A been opening provided will is hundred significant of with built only technology of first fixes thousands on pushed my live gamers. product, was

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of So we're trajectory described I'd kind a improvement. And you future to shoulders is expect the that on actually projects. hockey the of can standing Ignition the way probably stick product towards

is XX:XX suggest attained to expect out in improvements of So we we of future product probably or because product my subsequent significant to would I releases that quality can NASCAR gate three two what better. next then products are and And will summary? stability be better the far brief off years the over ultimately, thus

year, make in just the guidance the queue next out any for of like to comment the streams? your on high a within how QX. guys dollars the expectation, or other those That's gains Very you of expecting high revenue million level Yeah. are sort comments level and between go quick I mobile weighting much console Could esports and that implies helpful. get about full back thirteen on just is seven which six point before XX:XX dollars one for great. My around

XX:XX Sure, Michael.

right to point thirteen assess So, six. you're obviously the

which The obviously NASCAR coming revenue We is internally mobile main are release about. Heat the and switch, XX: and to projecting overall this of Ignition. quarter And that expecting Edition+ Ultimate related for to rest about game. esports from will super two-thirds contribute number, excited the of the but this that will be the of our driver NASCAR was the

Okay. a again. and XX:XX Thanks congrats lot

XX:XX Thank you.

next XX:XX question Our Granda from comes from Franco question. your D.A. state Please Davidson.

new cycle. a XX:XX finally the see It's there launch. for And Hi good ask and the again and congratulations out it’s here. this let waves the to of questions me thanks I make couple echo everyone. going on make

guess patches, the think next current you do think how game I do subscribed future might are twenty potentially for that not adding one, you versus the of between, some several So, some ironing fan the or issues the balance we're some about that base how missing. the of feel in

XX:XX It's Good Hi, question. Franco. Stephen.

that feature is second ensuring consider there. as be, add be of thing what the on in Playstation soon setup future. want And the X, Internet you term well. games much that is their to and you still As by many play us invest certain areas so to we'll they for Ignition’s, many I entertainment important is, start landscape and as is I you something a there's up the as cover routinely add what and once for and features really be not add today, that added leave required focus products lifecycle. NASCAR work could be here be of some improve there's on stability we one the they very And great then to to and gameplay particular don't product about but in and shift and further it our in the Y, know more it's is very now kind they're stable long to complicated enjoyment that gamers for, to attainment, will game ensure versus full order in complicated in play can think And expecting as how us complex they we release as that everybody They can the it's is walls Pc and and is to it are experience in first done right they product touch the whatever as just the wherever Dmitry most the gets everything today. can these great, deliver that entertainment could is the important where developers stability, XX:XX a to wish well publishers, super, you for we a features Right home to parties are Xbox people we and of software phase product future, clamoring they of we probably super have in standard inherently probably the on proposition work and something machines the minds this playing the in Z. for fashion. in care order experience particular they enables

XX:XX Stephen. I'd life echoes Yeah. And have a which is Stephen we was thing the add there. only product saying Thanks, like out that to what

twenty one We which of and a community, type things of the improvement helping make that's future very passionate NASCAR were of what what shape of vocal into proud Ignition what it into have go Ignition actually title things evolution would in super of a and type be. XX

a exciting As year next-gen NASCAR piece. is content next we is which cars, upgrading very to know,

the desire decision of et between type very what is now So it differentiation in to XX at the product fans communities many terms cetera as make titles development the really going NASCAR and and you better of already minimum, us help is if are two there's in big the would is next expect. helping shape and be content many, But of a in the vehicles, to hands that version. having influence

in XX:XX me really may bit appreciate kind sure title. games update opportunity launch not end now of the it, it. for so any I'm No. in you initiative Thank mentioned if the a soft have you I but on year And missed I on switch a less the to then NASCAR mobile and could Match color I where you the have of mobile? on you're the between if updates the three here. the for around But you touch mobile game today? wanted and that much little guess

is again. Franco, Hi, here Stephen XX:XX

take I that. probably So

leverage piece. update kind the on and putting put opportunity Switch expected updating seen given we The the we reuse have that is unsurprisingly about product of NASCAR the are bringing Mobile team and mobile actually to that they've into we Pc advantage the the Switch I products. core some an excited is great heat another platform. technology think XX:XX assets mobile about title I we and talent is that that And with future maintain for console touching my always portfolio, assets multiple in key the trickle that of to mobile us. mobile the this It the part already we of and makes of the kind sense think product we've Nintendo But game mobile heat together been existing the that's month. have Actually, priority. in demonstrates is talked super the we games.

we title we're QX INDYCAR probably that next that got the great in forget plans ultimate But or quite twenty kind We're year, aren't These products. keep concepts opportunity some soft and two, ambitious British related whether franchise can continue of we looking is We've we days. and team match these market to not around around Car very suitable We early mature that. now there. pushing to think have there's review for the So as a and keeping board, launch to the franchises that live Touring mobile three do well. NASCAR XX:XX far also mobile. NASCAR plans

once to set we place we these. with a these the So side, more in of from that franchises. NASCAR opportunity ingredients We over other successfully, right commit can't probably output need can so kind the the the get and we're to on match operating readily scaling up to

scale further. it get think looking the I we'll and right NASCAR then So can

pipeline with ask not not very level? making start in IP And to one Right. the Are the such IP our unity And planning you for you it'd you out doing this XX:XX that that. related are adding you and titles? thank mobile yet then around be would whatever sticking the it No I experience. to on through certainly you last for real this, one next portfolio is this for if be and put imagine just as titles

Mobile Heat And the on kind for no to wheel title need Unity. reinvent So there. XX:XX the us there's of remains

to user never things that for do technology. really during where do thing. get to years, end worry experiences people been align is possible. different I the the is as simplify whole as away the and that products really our we've do Like And the of and across You to we appropriate reach technologies. on to to can And about like mission developer, want and incredibly but to then of do a don't having what XX:XX we the one we align have. hard the so try entertainment the we the actually the a last that we about working really, do of technology couple lifetime I'd but tech plan cares that's as The from that want product, many to build the opportunities

shipped base experienced the our the other existing spear split we and titles or more allies are firmly away we if on Unreal. Unity But Ignition makes us the with the mobile NASCAR around moving in effective with start much it could is right that platform. So efficient team to legacy with which we using but that were can time has centered and that easier working in sense very would to same somewhat Ignition, NASCAR And future make Unity, deliver new And makes that’s a and product where now heading it do now titles it sense. have we been technology future. one for products have would now, use NASCAR partners to probably align these where to over Unreal, Switch to from together targets Nintendo the

All again. extremely congrats XX:XX and right. I appreciate helpful

Mike Please next question. Benchmark from your Our state from comes question XX:XX Company. Hickey

XX:XX launch. Dmitry, and Jon Hey, your Stephen congrats on

you've lot sort have pads The it the Obviously launch have products some is successful and a buzz, see inflection your players should response. and now one here it and had noted on Just fear shift a questions. like of been that any that of clean Stephen the of complaining that be again. this player view couple and you given at pretty an of critical sounds you

the Absolutely short Thanks a it's Hi, Mike. for answer. XX:XX question.

so the us to and very community are people we're did back one very you feature different expected, significantly point two things we -- in getting somewhere in would sets. see sure coming considered expect sentiments as of tickets combined point and three ticket a what to make the of be the mentioning patch, robust as which support drop out stability as that support over even could addressed closely was monitoring we those have that numbers lot after We Stephen hundred very, called one that to a

So to batch and to to that of and see of about appreciation the to those the out see us community have might that actually we defending game might will no feel have. defend positive, and you folks because the address pre-release check the sentiment started a concerns say start latest community in majority start the some version to no, it change have

do get not great to a behind it's they starting we recognize to think the just So us expect, starting the them of truly that and see care passion the to fact really delivering community little. that of that but product the I'll

sentiment flip community to starting So has both.

you out your have influencers, hoping better. Dmitry, are maybe they XX:XX to it whey strategy, to are if [Technical you holidays, looking you with seems to performing so Difficulty] the adjust obviously or work the factors extended are took marketing you looking

of there do release able And tapping we've is aware the a are content some network was and in we and that part beginning vocal make into were at the XX:XX successful when Absolutely, main to tax pre-release on. been are able reaction. patch great our are and to updated YouTube unveil even live installing influence our and that that sure in that at that. it that to of to and We're been the on There's others they definitely Facebook see phase. and so

released. but working or hearing So, so two and it yes, desires just We putting hardcore NASCAR really to we're community of inform that know things We fans sets of to been want out them way going addressing to the feature them the know just we're importantly, things one their on want. that some absolutely of general. just wanted continue just that some the and everything we these stability influences not things, them not has more to on that's we're and in fans

us, it's all So together. influencers for and community

Nice. XX:XX

recurring, against [Technical of Dmitry, And and we the test Difficulty] launch. I the do [Technical as think it's where And it quality concern of of adjustments. so versus can your sort resource, bridging I we bugs, on then outside you other the that be current how speaking well. think Difficulty] guess areas about of much How to is going sort broadly experience but internal there QA you that QA is external touched [Technical this Difficulty]

that XX:XX working process think with these slightly. to I probably is the expand that launches and I they world made internal at we'll we're because a give duration, team, do And and savvy. do part complex QA live But works software it's Multiple And and my answer and over days connected skill mean QA and earlier these part that and of process you on environment reference I the can improves question, great time. in end that the such very Hi. QA everything do of work of It’s increase the for development I to number partners in doesn't the interconnected. kind live motor being today wanting testing any capability expect Stephen. have the vehicles, as stir, parcel gamers that we product. of to sets overall in but that products, that need happen internal it's active update days titles live part the happens And kind that the that team take that to one. Even very external a a because and we patched headcount products. and just gamers is titles. a the products those of is machine on, of team technically across worldwide franchises and are of are We most we XX:XX so certainly increase

issues enough would are Ignition So NASCAR the have but think those also years largely it’s understand not with best about out get to encountering games unnoticed. people that can easy today, themselves, gone they're do feedback gate. read savvy I to ago the there us that even there even want very But for that that we the appreciate because

they off fantastic should thousands product doing, thousands a we mind teams So be And creation to feel have trying no Our from that. what to gamers to my our done in job what QA for to important into delivery. and people product this they steer substitute of feed and saying like the but through community is live going the and I be wonderful get have XX:XX hands they really want had is I we a there have bespoke and people have patching that that's home. of internally the to got that with we within same couple we their the available to up. feedback and we at things encountered where just But set all kind kind parties start own of network community issues mean, fix the setup at home first from of these hours, I think community didn't the the what setups recreate expects. current

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you, Thank That's XX:XX Good guys. Stephen. luck, great.

XX:XX Thank you.

you further any give remarks? time, At XX:XX we questions. no have like Would closing this to

we'll Always want Sure. thank the again. XX:XX just take to opportunity,

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So thank you.

XX:XX you attending. This conference Thank for concludes call. today's