NASDAQ : MSGM
Motorsport Games Inc. — Financial statements
Communication Services · Electronic Gaming & Multimedia · United States
Last price 4.66 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 21.38M
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Motorsport Games Inc. (MSGM) reported revenue of 14.52M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 14.52M | 11.30M | 8.69M | 6.91M | 10.32M | 15.08M |
| Cost of Revenue | 2.33M | 2.09M | 3.23M | 3.62M | 4.96M | 7.53M |
| Gross Profit | 12.18M | 9.20M | 5.46M | 3.29M | 5.36M | 7.55M |
| Selling, General & Admin | 6.92M | 5.76M | 7.62M | 11.06M | 19.94M | 31.65M |
| Research & Development | 2.14M | 1.76M | 3.38M | 7.24M | 10.42M | 9.62M |
| Other Operating Expenses | -804.00K | -1.61M | 50.00K | -37.34K | ||
| Operating Expenses | 8.29M | 5.96M | 11.26M | 18.66M | 30.77M | 41.56M |
| Operating Income | 3.90M | 3.25M | -5.80M | -15.37M | -25.41M | -34.01M |
| Interest Expense | -20.13K | -18.79K | -120.76K | -772.99K | -1.15M | -504.16K |
| Earnings From Equity Investments | 1.37M | |||||
| Currency Exchange Gain (Loss) | 3.20M | -1.30M | 800.00K | -800.00K | -222.50K | |
| Other Non Operating Income (Expenses) | -489.86K | -5.38K | 122.54K | 2.02M | 134.15K | -22.27K |
| EBT Excluding Unusual Items | 3.39M | 6.42M | -7.10M | -13.32M | -27.22M | -33.39M |
| Impairment of Goodwill | -4.79M | |||||
| Gain (Loss) on Sale of Assets | 800.00K | 3.00M | ||||
| Asset Writedown | -27.93K | -4.00M | -4.83M | -317.11K | ||
| Other Unusual Items | -25.00K | 175.00K | 3.25M | |||
| Pretax Income | 2.53M | 6.60M | -3.05M | -14.32M | -36.84M | -33.70M |
| Income Tax Expense | -245.26K | -245.26K | ||||
| Earnings From Continuing Operations | 2.78M | 6.84M | -3.05M | -14.32M | -36.84M | -33.70M |
| Minority Interest in Earnings | -432.99K | 83.17K | 295.12K | 849.65K | 542.75K | |
| Net Income | 2.35M | 6.93M | -2.75M | -14.32M | -35.99M | -33.16M |
| Net Income to Common | 2.35M | 6.93M | -2.75M | -14.32M | -35.99M | -33.16M |
| Shares Outstanding (Basic) | 5.30M | 4.84M | 2.92M | 2.58M | 1.17M | 1.14M |
| Shares Outstanding (Diluted) | 5.53M | 4.84M | 2.92M | 2.58M | 1.17M | 1.14M |
| EPS (Basic) | 0.44 | 1.43 | -0.94 | -5.56 | -30.73 | -29.15 |
| EPS (Diluted) | 0.43 | 1.43 | -0.94 | -5.56 | -30.73 | -29.15 |
| Free Cash Flow | 6.19M | 4.06M | -2.86M | -13.68M | -19.81M | -21.70M |
| Free Cash Flow Per Share | 1.12 | 0.84 | -0.98 | -5.31 | -16.91 | -19.07 |
| Gross Margin | 83.92% | 81.47% | 62.87% | 47.60% | 51.96% | 50.06% |
| Operating Margin | 26.84% | 28.76% | -66.74% | -222.40% | -246.11% | -225.59% |
| Profit Margin | 16.16% | 61.32% | -31.69% | -207.29% | -348.59% | -219.97% |
| Free Cash Flow Margin | 42.67% | 35.95% | -32.96% | -198.03% | -191.90% | -143.91% |
| EBITDA | 3.58M | 3.38M | -4.69M | -14.64M | -24.76M | -33.50M |
| EBITDA Margin | 24.63% | 29.91% | -53.95% | -211.87% | -239.85% | -222.24% |
| D&A For EBITDA | -320.68K | 130.22K | 1.11M | 727.77K | 646.28K | 506.44K |
| EBIT | 3.90M | 3.25M | -5.80M | -15.37M | -25.41M | -34.01M |
| EBIT Margin | 26.84% | 28.76% | -66.74% | -222.40% | -246.11% | -225.59% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 3.95M | 4.99M | 859.27K | 1.68M | 979.31K | 17.82M |
| Cash & Short-Term Investments | 3.95M | 4.99M | 859.27K | 1.68M | 979.31K | 17.82M |
| Accounts Receivable | 1.74M | 2.24M | 1.45M | 735.84K | 1.81M | 5.49M |
| Other Receivables | 206.53K | 137.57K | ||||
| Receivables | 1.74M | 2.24M | 1.45M | 735.84K | 2.02M | 5.63M |
| Prepaid Expenses | 705.74K | 350.49K | 490.22K | 1.11M | 1.05M | 1.18M |
| Total Current Assets | 6.39M | 7.59M | 2.80M | 3.52M | 4.04M | 24.62M |
| Property, Plant & Equipment | 53.44K | 55.56K | 106.44K | 445.00K | 1.49M | 727.09K |
| Goodwill | 4.87M | |||||
| Other Intangible Assets | 4.27M | 3.77M | 3.37M | 5.80M | 13.36M | 20.49M |
| Long-Term Deferred Tax Assets | 492.93K | 492.93K | ||||
| Other Long-Term Assets | 111.43K | 60.53K | ||||
| Total Assets | 11.32M | 11.97M | 6.27M | 9.76M | 18.90M | 50.70M |
| Accounts Payable | 663.37K | 918.28K | 2.98M | 813.66K | 2.37M | 1.78M |
| Accrued Expenses | 1.35M | 1.17M | 582.71K | 1.03M | 1.73M | 3.35M |
| Short-Term Debt | 234.64K | 3.80M | ||||
| Current Portion of Leases | 17.57K | 31.10K | 153.01K | 380.54K | ||
| Current Income Taxes Payable | 164.14K | 122.63K | 55.13K | 40.00K | 149.84K | 31.49K |
| Current Unearned Revenue | 1.04M | 1.13M | 390.46K | 270.85K | 311.94K | 523.80K |
| Other Current Liabilities | 3.52K | 3.37K | 986.17K | 5.28M | 4.58M | 3.43M |
| Total Current Liabilities | 3.45M | 3.37M | 5.02M | 7.59M | 13.32M | 9.12M |
| Long-Term Leases | 16.31K | 45.66K | 617.29K | |||
| Long-Term Deferred Tax Liabilities | 222.83K | 222.83K | ||||
| Other Long-Term Liabilities | 1.20M | 798.19K | 4.13K | 31.10K | 3.06M | 3.60M |
| Total Liabilities | 6.08M | 4.39M | 5.04M | 7.67M | 16.99M | 12.72M |
| Common Stock | 504.00 | 574.00 | 385.00 | 339.00 | 187.00 | 186.00 |
| Additional Paid-In Capital | 95.69M | 95.21M | 92.96M | 91.92M | 76.45M | 75.65M |
| Retained Earnings | -84.62M | -84.86M | -91.79M | -89.04M | -73.98M | -37.99M |
| Comprehensive Income & Other | -3.47M | -3.58M | -674.43K | -1.85M | -933.41K | -945.38K |
| Total Common Equity | 3.88M | 6.78M | 496.26K | 1.04M | 1.53M | 36.72M |
| Minority Interest | 1.36M | 805.55K | 729.74K | 1.05M | 369.69K | 1.26M |
| Shareholders' Equity | 5.24M | 7.58M | 1.23M | 2.09M | 1.90M | 37.98M |
| Total Liabilities & Equity | 11.32M | 11.97M | 6.27M | 9.76M | 18.90M | 50.70M |
| Total Debt | 1.43M | 17.57K | 47.41K | 198.67K | 4.80M | |
| Net Cash (Debt) | 2.51M | 4.98M | 811.86K | 1.48M | -3.82M | 17.82M |
| Net Cash Per Share | 0.45 | 1.03 | 0.28 | 0.57 | -3.26 | 15.66 |
| Filing Date Shares Outstanding | 4.59M | 5.08M | 3.18M | 2.72M | 2.83M | 1.17M |
| Total Common Shares Outstanding | 4.17M | 5.08M | 3.18M | 2.72M | 1.18M | 1.16M |
| Working Capital | 2.94M | 4.22M | -2.23M | -4.07M | -9.28M | 15.50M |
| Book Value Per Share | 0.93 | 1.33 | 0.16 | 0.38 | 1.30 | 31.56 |
| Tangible Book Value | -387.39K | 3.00M | -2.87M | -4.76M | -11.83M | 11.37M |
| Tangible Book Value Per Share | -0.09 | 0.59 | -0.90 | -1.75 | -9.99 | 9.77 |
| Machinery | 19.07K | 17.91K | 17.50K | 17.45K | 16.58K | |
| Leasehold Improvements | 178.01K | 162.18K | 160.61K | 146.37K | 127.52K |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 2.26M | 6.84M | -2.75M | -14.32M | -35.99M | -33.16M |
| Depreciation & Amortization | -320.68K | 130.22K | 1.11M | 727.77K | 646.28K | 506.44K |
| Other Amortization | 1.35M | 991.94K | 1.48M | 1.39M | 1.42M | 1.28M |
| Loss (Gain) From Sale of Assets | -747.05K | -3.04M | 108.72K | |||
| Asset Writedown & Restructuring Costs | 27.93K | 4.00M | 9.62M | 317.11K | ||
| Loss (Gain) on Equity Investments | -1.37M | |||||
| Stock-Based Compensation | 1.20M | 789.35K | 152.96K | 957.30K | 714.52K | 9.73M |
| Other Operating Activities | 425.81K | -3.74M | -2.01M | 212.50K | 2.35M | 3.77M |
| Change in Accounts Receivable | -59.56K | -676.42K | -718.46K | 1.37M | 1.81M | -3.25M |
| Change in Accounts Payable | -396.40K | -2.10M | 2.17M | -1.64M | 525.29K | 944.53K |
| Change in Unearned Revenue | 509.23K | 689.42K | -119.62K | |||
| Change in Other Net Operating Assets | 1.24M | 1.14M | -1.40M | -3.32M | -716.41K | 302.39K |
| Operating Cash Flow | 6.24M | 4.07M | -2.84M | -13.65M | -19.52M | -20.94M |
| Capital Expenditures | -41.39K | -12.07K | -25.02K | -31.65K | -292.45K | -754.30K |
| Sale of Property, Plant & Equipment | 206.50K | |||||
| Cash Acquisitions | -13.63M | |||||
| Sale (Purchase) of Intangibles | -1.75M | -1.11M | 1.00M | 4.24M | ||
| Investing Cash Flow | -1.79M | -1.12M | 1.18M | 4.21M | -292.45K | -14.39M |
| Short-Term Debt Issued | 3.77M | 2.16M | ||||
| Total Debt Issued | 1.20M | 3.77M | 2.16M | |||
| Short-Term Debt Repaid | -12.97M | |||||
| Long-Term Debt Repaid | -440.17K | |||||
| Total Debt Repaid | -314.88K | -440.17K | -12.97M | |||
| Net Debt Issued (Repaid) | 885.12K | -440.17K | 3.77M | -10.81M | ||
| Issuance of Common Stock | 2.35M | 884.05K | 11.05M | 38.69K | 69.00M | |
| Other Financing Activities | -150.00K | -846.27K | -50.00K | -1.11M | -2.09M | -8.93M |
| Financing Cash Flow | -2.98M | 1.06M | 834.05K | 9.94M | 1.71M | 49.26M |
| Foreign Exchange Rate Adjustments | 119.06K | 120.51K | 6.67K | 199.88K | 1.26M | -102.02K |
| Net Cash Flow | 1.58M | 4.13M | -815.94K | 695.90K | -16.84M | 13.83M |
| Free Cash Flow | 6.19M | 4.06M | -2.86M | -13.68M | -19.81M | -21.70M |
| Free Cash Flow Margin | 42.67% | 35.95% | -32.96% | -198.03% | -191.90% | -143.91% |
| Free Cash Flow Per Share | 1.12 | 0.84 | -0.98 | -5.31 | -16.91 | -19.07 |
| Levered Free Cash Flow | 3.48M | 508.11K | -2.52M | -3.28M | -10.36M | -16.93M |
| Unlevered Free Cash Flow | 3.50M | 519.85K | -2.45M | -2.80M | -9.64M | -16.61M |
| Cash Interest Paid | 20.62K | 11.79K | 34.10K | 415.05K | 190.27K | 804.67K |
| Cash Income Tax Paid | 17.16K | 3.70K | ||||
| Change in Working Capital | 1.29M | -945.54K | -71.49K | -3.58M | 1.62M | -2.01M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 22.07M | 16.10M | 4.27M | 8.41M | 4.84M | 39.56M |
| Enterprise Value | 19.56M | 12.94M | 1.65M | 7.57M | 2.32M | 18.71M |
| Last Close Price | 4.58 | 3.17 | 1.34 | 3.09 | 4.15 | 34.00 |
| PE Ratio | 11.24 | 2.32 | ||||
| PS Ratio | 1.45 | 1.43 | 0.49 | 1.22 | 0.47 | 2.62 |
| PB Ratio | 4.92 | 2.12 | 3.48 | 4.03 | 2.54 | 1.04 |
| P/TBV Ratio | 5.36 | 3.48 | ||||
| P/FCF Ratio | 3.39 | 3.96 | ||||
| P/OCF Ratio | 3.37 | 3.95 | ||||
| EV/Sales Ratio | 1.27 | 1.15 | 0.19 | 1.09 | 0.23 | 1.24 |
| EV/EBITDA Ratio | 5.17 | 3.83 | ||||
| EV/EBIT Ratio | 4.75 | 3.98 | ||||
| EV/FCF Ratio | 2.99 | 3.19 | ||||
| Debt / Equity Ratio | 0.27 | 0.00 | 0.04 | 0.10 | 2.52 | |
| Debt / EBITDA Ratio | 0.40 | 0.01 | ||||
| Debt / FCF Ratio | 0.23 | 0.00 | ||||
| Net Debt / Equity Ratio | -0.48 | -0.66 | -0.66 | -0.71 | 2.01 | -0.47 |
| Net Debt / EBITDA Ratio | -0.70 | -1.47 | 0.17 | 0.10 | -0.15 | 0.53 |
| Net Debt / FCF Ratio | -0.41 | -1.23 | 0.28 | 0.11 | -0.19 | 0.82 |
| Asset Turnover | 1.49 | 1.24 | 1.08 | 0.48 | 0.30 | 0.44 |
| Quick Ratio | 1.65 | 2.15 | 0.46 | 0.32 | 0.23 | 2.57 |
| Current Ratio | 1.85 | 2.25 | 0.56 | 0.46 | 0.30 | 2.70 |
| Return on Equity (ROE) | 51.40% | 155.44% | -183.86% | -717.40% | -184.73% | -170.24% |
| Return on Assets (ROA) | 25.01% | 22.27% | -45.22% | -67.03% | -45.63% | -62.43% |
| Return on Capital Employed (ROCE) | 49.50% | 37.80% | -465.20% | -709.30% | -455.70% | -81.80% |
| Earnings Yield | 8.90% | 43.04% | -64.53% | -170.25% | -742.92% | -83.82% |
| FCF Yield | 29.48% | 25.23% | -67.12% | -162.64% | -408.98% | -54.84% |
| Buyback Yield / Dilution | -51.13% | -65.66% | -13.37% | -120.05% | -2.96% | -5.53% |