Allied Gaming & Entertainment Inc. Q2 FY2023 earnings call

• Financial performance: Quarterly revenue up to $3.3 million, 182% YOY growth; G&A reduced by 20%, adjusted EBITDA improved by $1.6 million YOY.
• Event production: 99 events produced (41 proprietary, 58 third-party) including notable events like EStars presents Elder Scrolls Online, World Poker Tour event, etc.
• Original content success: ELEVATED Season 2 had 12.3 million total viewership, 89.5 million live minutes watched, 11.54 million unique viewers; WANNABE Season 2 has over 9.3 million homes reach via YES App.
• Expansion: Broaden gaming and entertainment coverage by establishing two new wholly-owned subsidiaries, Allied Mobile Entertainment and Allied Experiential Entertainment; expanding retail and merchandise offering via partnership with HP/HyperX.

Allied Gaming & Entertainment reported a quarterly revenue of $3.3 million, which is a 182% year-over-year increase. The growth was driven by original content sponsorship and new arena and mobile truck sponsorship. Despite the revenue growth, G&A expenses were reduced by 20%, leading to a $1.6 million year-over-year improvement in adjusted EBITDA. During the quarter, 99 events were produced (41 proprietary, 58 third-party). The original content series ELEVATED Season 2 had a total viewership of 12.3 million, 89.5 million live minutes watched, and 11.54 million total unique viewers over five weeks. WANNABE Season 2 has a reach of over 9.3 million homes through the YES App and distribution channels. Revenue contribution was from original content sponsorship and arena/mobile truck sponsorship, with expense reduction contributing to improved adjusted EBITDA.

Yinghua Chen mentioned that the company looks forward to providing updates on its business and third quarter results in November.