Reported Q: Q2 2024 Rev YoY: -19.2% EPS YoY: -373.1% Move: -3.38%
Allied Gaming
AGAE
$0.303 -3.38%
Exchange NASDAQ Sector Communication Services Industry Entertainment
Q2 2024
Published: Aug 19, 2024

Company Status Snapshot

Fast view of the latest quarter outcome for AGAE

Reported

Report Date

Aug 19, 2024

Quarter Q2 2024

Revenue

2.64M

YoY: -19.2%

EPS

-0.09

YoY: -373.1%

Market Move

-3.38%

Previous quarter: Q1 2024

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Earnings Highlights

  • Revenue of $2.64M down 19.2% year-over-year
  • EPS of $-0.09 decreased by 373.1% from previous year
  • Gross margin of 21.8%
  • Net income of -3.80M
  • ""While we will utilize resources from across the company, Allied Experiential Entertainment, or AEE, will be very involved in all aspects of WMT... we believe WMT will be a game changer for us."" - Yinghua Chen, CEO
AGAE
Allied Gaming Entertainment Inc

Executive Summary

In Q2 2024, Allied Gaming Entertainment Inc (AGAE) reported a total revenue of $2.6 million, demonstrating an 11% increase from Q1 2024, but a notable decline of 19% year-over-year. The main contributors to this decline were decreases in branded content production, partially offset by gains in casual mobile gaming following the integration of subsidiary Z-Tech. The company's net loss expanded to $3.9 million, attributed to increased operational expenses, including legal costs related to shareholder disputes. Despite these challenges, management remains optimistic about growth opportunities, particularly with the impending launch of the World Mahjong Tour and strong demand for their HyperX Arena, suggesting a strategic pivot towards new revenue-generating avenues that could stabilize the financial outlook moving forward.

Key Performance Indicators

Revenue
Decreasing
2.64M
QoQ: 10.97% | YoY: -19.22%
Gross Profit
Decreasing
576.50K
21.84% margin
QoQ: 33.70% | YoY: -47.92%
Operating Income
Decreasing
-5.29M
QoQ: -97.72% | YoY: -279.15%
Net Income
Decreasing
-3.80M
QoQ: -123.82% | YoY: -450.19%
EPS
Decreasing
-0.09
QoQ: -101.37% | YoY: -373.12%

Revenue Trend

Margin Analysis

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q1 2025 2.28 -0.11 -4.4% View
Q4 2024 1.90 -0.19 -8.5% View
Q3 2024 2.16 -0.11 +93.2% View
Q2 2024 2.64 -0.09 -19.2% View
Q1 2024 2.38 -0.04 +99.4% View