Super League Enterprise Inc. (SLE) reports earnings

The report was filed on March 31, 2025

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Super League Enterprise Inc. (SLE+1.66%) has filed its annual report on Form 10-K filing for the fiscal year ended December 31, 2024.

The filing reports a decrease in revenue to $16.2 million from $25.1 million in the previous year, attributed to industry softness in ad sales and the sale of the Minehut business unit.

Cost of revenue decreased to $10.1 million from $15.3 million, maintaining a gross profit margin of 38%.

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Operating expenses were reduced to $22.9 million from $42.6 million, reflecting cost optimization efforts.

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The company reported a net loss of $16.6 million, or $(2.35) per share, compared to a net loss of $30.3 million, or $(13.67) per share, in the previous year.

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Super League sold its Minehut business unit to GamerSafer, Inc. for $1.0 million, to be paid over two years.

During the year, Super League acquired assets from Melon, Inc. for $900,000, with additional contingent consideration based on revenue milestones.

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The company raised $2.9 million through the issuance of Series AAA Junior Convertible Preferred Stock and $8.4 million through Series AAA Convertible Preferred Stock offerings.

Super League entered into a loan agreement with Agile Capital Funding, LLC for $1.85 million, and a related party promissory note for $1.5 million.

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The company is addressing a Nasdaq non-compliance notice regarding its minimum bid price requirement and annual meeting requirement.

Super League's management is exploring additional funding options to support its operations and strategic initiatives.

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This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Super League Enterprise Inc. annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.