The following is a summary of the Super League Enterprise, Inc. (SLE) Q1 2024 Earnings Call Transcript:
Financial Performance:
Super League reported Q1 2024 revenue of $4.2 million, representing a 26% growth compared to the same quarter the previous year.
Operating expenses were reduced by 22% compared to the same period in the previous year, leading to a savings of $1.5 million.
The pro forma net loss improved by 26% compared to Q1 2023.
The company made cost reductions, including infrastructure cuts and workforce adjustments and is targeting profitability by Q4.
Business Progress:
Super League recently rebranded to reflect a new stage and vision and is focused on productization.
The company concluded seven-figure deals with Visa and Toyota, increasing revenues and deal sizes.
The company saw customer growth, both with retention and addition of new customers, with 48 new brands in the pipeline.
The company sold Minecraft server community asset, Minehut, resulting in $2.4 million in annual operating expense reductions.
Super League's partnership with Skechers to open a virtual store in Roblox garnered over 3 million visits and 45 million marketing impressions within the first five weeks.
The sales team is expanding and has plans to grow from six to up to ten members by the year-end.
The company showed promising signs through recurring revenues and strong business relationships, and is focused on accelerating their growth and operational efficiency.
They are also exploring opportunities in data and analytics for potential future revenue streams.
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