Super League Announces Third Quarter 2024 Financial Results

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Super League Enterprise
Super League Enterprise

~ Third Quarter Highlighted by Transformative Agreement and Anticipated Strategic Investment from Infinite Reality including Merger of World-Class Audience Assets ~

~ Q3 Net Loss Per Share Narrows to Improve Operational Efficiency on Continued Reduction in Operating Expenses ~

SANTA MONICA, Calif., Nov. 14, 2024 (GLOBE NEWSWIRE) -- Super League (Nasdaq: SLE), a leader in redefining the gaming industry as a media channel, today announced that it has released third quarter 2024 financial results in the form of a shareholder letter, which can be accessed under the Quarterly Results section of the Company’s investor relations website.

Management Commentary by Chief Executive Officer, Ann Hand:

“During the third quarter, while revenue remained relatively flat, we are pleased with our continued march toward profitability illustrated by a 30% proforma operating expense reduction relative to the same quarter prior year and 27% proforma net loss reduction for the same time period. We also entered a transformative binding agreement with Infinite Reality to merge dynamic, world-class audience assets, and now stand at the precipice of a game-changing transaction that we anticipate will transform us into a “new company” come January 1st, fueled by a more diverse portfolio of assets and a significant strategic investment providing for a strong balance sheet.

This union goes beyond merging assets and investment; it is about shaping the future of digital and physical interaction and commerce. Super League will be granted a worldwide perpetual license to produce events and sell sponsorships for the Drone Racing League, a tech-driven global sports property with over 100 million young fans across 170 countries, and we will assume ownership of Thunder Studios, TalentX and Fearless Media to bolster our reach and digital marketing capabilities. We see many areas of synergy between Super League and Infinite Reality, from the cross-pollination of sales pipelines and brand partner pursuits to ways we can accelerate our product development roadmaps.

In Q3, we continued to see a pipeline of blue-chip brands choosing Super League as their immersive and interactive solutions provider, proven through our activations with the International Olympic Committee, Visa, Maybelline, Google and Universal Pictures. We also continue to see indications of a positive shift in our business model in terms of both deal size and, as brands increasingly look to engage us repeatedly and for longer, more persistent programs that create more recurring revenues for us. Coupled with our focus on accelerating market adoption of our higher margin pop-up experiences and more efficient, lean cost structure, we are well positioned to turn the corner into profitability.

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