Business
Motorsport Games Reports Fourth Quarter & Full Year 2021 Financial Results
MIAMI, March 30, 2022 (GLOBE NEWSWIRE) -- Motorsport Games Inc. (NASDAQ: MSGM) (“Motorsport Games” or the “Company”) today reported financial results for its
About this update from Motorsport Games Inc.
[{"type":"text","content":"MIAMI, March 30, 2022 (GLOBE NEWSWIRE) -- Motorsport Games Inc. (NASDAQ: MSGM) (“Motorsport Games” or the “Company”) today reported financial results for its fourth quarter and fiscal year ended December 31, 2021. The Company has also posted a 2021 Year End Review video and Q4 ‘21 and fiscal year-end earnings slides highlighting key milestones that occurred in the period, which are accessible on the Company’s investor relations website. Dmitry Kozko, Chief Executive Officer of Motorsport Games, commented, “We head into 2022 with an incredible arsenal of world-class IP, following a transformational year for our Company in which we went public, expanded organically and through acquisitions and we launched new major NASCAR-branded gaming experiences. January 2022 brought our full-release of KartKraft racing for PCs, as well as a significant user experience upgrade to our rFactor 2 racing simulation game. Our Esports team delivered world class events for the Le Mans Virtual Series, culminating in the 24 Hours of Le Mans Virtual Event in January 2022, and we held the inaugural 2022 INDYCAR Pro-challenge in February 2022. Between our existing IP, our emerging esports business and our global presence, we are confident we have put together an exciting product roadmap that we believe will create a diversified and multi-layered, high quality revenue base in the future and that we will resolve our liquidity headwinds.” Kozko added, “Motorsport Games is fundamentally opposed to the current situation in Ukraine, and we firmly stand in support of democracy, freedom and peace. The economic sanctions have, so far, not impacted our productivity. Speed, agility and proactive leadership from our resilient team has allowed us to avoid significant impacts from this catastrophe to our product roadmap. We are executing our business continuity plan and adapting to developments in real-time. However, our primary concern remains the well-being of our colleagues within the region, as we are working to mitigate disruptions and, most importantly, do everything possible to ensure that our employees and their families remain safe.” Fourth Quarter 2021 and Subsequent Business Update INDYCAR 2022 Esports Pro-challenge. The challenge took place on February 9, 2022, and featured current NTT INDYCAR SERIES drivers, including reigning champion Alex Palou, 4-time In...