Business
FansUnite to Report First Quarter Fiscal 2024 Financial Results and Host Earnings Call
FansUnite to Report First Quarter Fiscal 2024 Financial Results and Host Earnings Call.
About this update from Fansunite Entertainment Inc.
[{"type":"text","content":"Total revenue for the three months ended March 31, 2024, was in the range of $8.2 million to $8.5 million, a 12% to 16% increase as compared to the same period in the prior year.Gross margin in the range of 62% to 64% for the three months ended March 31, 2024 as compared to 64% for the same period in 2023.Total adjusted EBITDA in the range of $1.5 million to $1.8 million for the three months ended March 31, 2024, a 40% to 68% increase year-over-year.Vancouver, British Columbia--(Newsfile Corp. - May 10, 2024) - FansUnite Entertainment Inc. (TSX: FANS) (OTCQB: FUNFF) (\"FansUnite\" or the \"Company\") is pleased to announce that it will file its condensed consolidated interim financial statements and associated management's discussion and analysis (\"MD&A\") for the three months ended March 31, 2024 on Wednesday, May 15, 2024. In addition, the management team of FansUnite will host an earnings call to discuss the Company's first quarter Fiscal 2024 financial results at 10:00 AM EST / 7:00 AM PST on Thursday, May 16, 2024.Q1 Fiscal 2024 Earnings Call DetailsDay: Thursday, May 16, 2024Time: 10:00 AM EST / 7:00 AM PSTTopic: FansUnite's Q1 Fiscal 2024 financial resultsPlease click the link below to register.https://us02web.zoom.us/webinar/register/WN_yQ8abib8T16Jp40dkKSrqw Preliminary Unaudited First Quarter Fiscal 2024 Financial HighlightsThe Company is pleased to report preliminary unaudited revenue, gross margin and adjusted EBITDA results for the three months ended March 31, 2024. The positive results came from increased activations during March Madness, a record-breaking Super Bowl weekend, improved revenue from props.com, and realized savings from cost-cutting measures enacted in previous periods. Scott Burton, CEO of FansUnite, announced, \"We are pleased to share that in the first quarter of Fiscal 2024, the Company has sustained growth in revenue and maintained strong gross margins. Alongside notable progress in our top-line figures, FansUnite has seen a significant increase in adjusted EBITDA, showcasing our commitment to profitability. Looking ahead to 2024, we're poised to expand our betting affiliate operations throughout North America, aiming to sustain our success in the sports betting landscape and fortify our balance sheet.\"About FansUnite Entertainment Inc.FansUnite is a global sports entertainment and gaming c...