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Super League Enterprise Inc. (SLE-2.17%) 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%.
Operating expenses were reduced to $22.9 million from $42.6 million, reflecting cost optimization efforts.
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.
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.
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.
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.
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.