Motorsport Games Inc. Q1 FY2025 earnings call

• Received a $2.5 million investment from Pimax on April 15. - Future updates for Le Mans Ultimate planned, including teams and driver swap functionality on June 10 and adding the final pack of the 2024 season pass. - Roadmap in collaboration with ACO planned to be announced after the June release. - Le Mans Ultimate expected to move from early access to Version 1.0 or full release this year and exploring console opportunities for the game. - Intends to revisit the 24 hours of Le Mans Virtual and has a live relationship with F1 Arcade.

Revenues for the quarter were $1.8 million, down by $1.3 million or 41.9% compared to the same period in the prior year. Net revenues from the Le Mans Ultimate racing title were $0.4 million higher in Q1 2025 versus the same prior year period. Total revenues were lower primarily due to the reduction in the back catalog of games available following the sale of the NASCAR license. RaceControl subscription platform is a component contributing to new revenue growth.

• Received $2.5 million investment which gives the business additional breathing room. - Le Mans Ultimate to move to Version 1.0 this year with more details to come. - Continuing to explore console opportunities for Le Mans Ultimate by working with potential porting and publishing collaborators. - Assessing new ways to expand the Le Mans Ultimate audience.

• Risks related to forward-looking statements where actual results could differ materially. - Liquidity shortfall as the company expects net cash outflow from operations in the foreseeable future. - Need to explore additional funding options such as equity/debt financing, strategic alternatives like asset sale/licensing, and further cost reduction/restructuring initiatives.