Business
Super League Gaming Reports Record Second Quarter 2021 Results
SANTA MONICA, Calif., Aug. 12, 2021 (GLOBE NEWSWIRE) -- Super League Gaming (Super League or the Company) (Nasdaq: SLGG), a global leader in video gaming and
About this update from Super League Enterprise, Inc.
[{"type":"text","content":"SANTA MONICA, Calif., Aug. 12, 2021 (GLOBE NEWSWIRE) -- Super League Gaming (Super League or the Company) (Nasdaq: SLGG), a global leader in video gaming and esports experiences and entertainment for everyday players of all ages, reported recent operational developments and financial results for the second quarter ended June 30, 2021. Q2 Highlights and Recent Operational Developments Second quarter revenues reach record $1.1 million in 2021, up 235% compared to Q2 2020 with increases in all primary revenue streams.Gross margin continues to be healthy at 51% for Q2 2021.Balance sheet remains strong with $31.5 million of cash on hand as of June 30, 2021 and no debt.Successful shareholder support for the acquisition of Mobcrush, which was completed on June 1st and brings synergies that will drive future revenue growth.In July 2021, Pixel Paradise launched as the first ever Minecraft Bedrock server focused on role-playing, joining our property Mineville as two of seven official Minecraft servers.And today, we announced the acquisition of Bannerfy, a creator monetization and ad technology platform, augmenting our offers to brands and advertisers. Management Commentary“In the second quarter, we continued to execute on our mission of building a world-class gaming-centric media and entertainment platform, delivering record quarterly revenue,” said Ann Hand, Chief Executive Officer of Super League Gaming. “We closed the transformative acquisition of Mobcrush and have already begun to see tremendous synergies with our combined technology stack and advertising inventory. We are well-positioned to take advantage of the mega trends in gaming and esports and expect to continue growing our scale at an accelerated pace. We are quite optimistic about the opportunities that lie ahead for Super League and its network of gamers and creators.” Second Quarter 2021 Financial ResultsRevenues in the second quarter of 2021 increased 235% to $1.1 million compared to $324,000 in the comparable prior year quarter. Advertising and sponsorship revenues comprised approximately 45% of revenues for the second quarter of 2021 as compared to 15% for the comparable prior year quarter, and increased 890% compared to the prior year quarter, due to significant increases in direct sales and programmatic advertising revenues on our owned, operated and partners’ digital ...