SLGG - Super League Gaming slips 6.3% despite record revenues in Q4
Super League Gaming (SLGG) is 6.3% lower after hours following Q4 earnings where its revenues nearly tripled but fell short of some lofty projections. Revenues hit a record $779,000, but still fell short of expectations for $803,750 (two analysts). Gross profit margins jumped 1,300 basis points, to 62%. And pro forma net loss (excluding noncash charges) was $4.3M, vs. $3.7M the year before. In full-year operating metrics, views and impressions rose to 2.03B vs. 2019's 120M. Registered users nearly tripled to 2.9M (from 1M), and total engagement hours jumped to 72M from the prior year's 15M. “We were able to turn challenges into opportunities and deliver very strong revenue growth," says CEO Ann Hand. More specifically on today's announcement of a deal to acquire Mobcrush: "With this acquisition we are building a formidable, highly scalable gaming-centric media and advertising platform that reaches one of the largest addressable audiences of gamers
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Super League Gaming slips 6.3% despite record revenues in Q4