Esports Entertainment Group. (NASDAQ: (GMBL) the stock gained by 2.48% at the last close while the GMBL stock price surges by 17.98% in the after-hours trading session. Esports Entertainment Group is a full-stack esports and online gambling firm that has benefited from the rise of video gaming and esports among younger generations.
GMBL stock’ Financial Highlights
Esports Entertainment Group announced financial results for the fourth quarter and fiscal year 2021.
- Net sales of $8.8 million, the rise of $8.8 million from 4Q20, and up 63% from $5.4 million in 3Q21.
- Gross profit of $5.2 million, up to $5.2 million from 4Q20 and up 69% from $3.1 million in 3Q21.
- Gross margin as a proportion of net sales was 59 percent, up from 57 percent in the previous quarter.
- $5.1 million in sales and marketing costs, up from $0.3 million in 4Q20 and $2.4 million in Q3 2021.
- $10.5 million in general and administrative expenditures, up from $1.8 million in 4Q20 and $6.3 million in the previous quarter.
- Operating loss of $10.5 million, up from $2.1 million in the fourth quarter of last year and $5.6 million in the third quarter of 2021.
Financial Results for the Fiscal Year 2021:
- Net revenue of $16.8 million, an increase of $16.8 million from FY20.
- Gross profit was $8.9 million, a surge of $8.9 million from the previous fiscal year.
- The gross profit margin as a proportion of net sales was 53%.
- $10.0 million in sales and marketing costs, up to $9.7 million from the Fiscal year 2020.
- General and administrative costs totaled $24.6 million, up to $3.7 million over the previous fiscal year.
- $25.7 million in operating deficit, a rise of $21.7 million from the Fiscal year 2020.
- In FY20, the company reported a GAAP net loss of $26.4 million, or $1.68 per basic common share, relative to a net loss of $10.4 million, or $1.50 per share, in FY20.
Future Outlook
The Company forecasts net sales to grow by at least 490 percent in FY22, from $100 million to $105 million, owing to numerous acquisitions made in calendar 2021.
