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Motorsport Games (MSGM) Financials

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$4.58 -0.15 (-3.17%)
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Annual Income Statements for Motorsport Games

Annual Income Statements for Motorsport Games

This table shows Motorsport Games' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -3.56 -1.76 -33 -36 -14 -2.75 6.93
Consolidated Net Income / (Loss)		 -5.76 -0.68 -34 -37 -14 -3.05 6.84
Net Income / (Loss) Continuing Operations		 -5.76 -0.68 -34 -37 -14 -3.05 6.84
Total Pre-Tax Income 		-5.15 -0.61 -35 -37 -14 -3.05 6.60
Total Operating Income		 -5.18 0.00 -35 -35 -16 -1.75 3.25
Total Gross Profit		 6.96 12 7.55 5.36 3.29 5.46 9.20
Total Revenue		 12 19 15 10 6.91 8.69 11
Operating Revenue		 12 19 15 10 6.91 8.69 11
Total Cost of Revenue		 4.89 6.60 7.53 4.96 3.62 3.23 2.09
Operating Cost of Revenue		 4.89 6.60 7.53 4.96 3.62 3.23 2.09
Total Operating Expenses		 12 12 42 40 20 7.21 5.96
Selling, General & Admin Expense		 2.61 4.34 25 14 9.37 6.88 5.13
Marketing Expense		 3.77 3.40 6.48 6.17 1.69 0.74 0.62
Research & Development Expense		 4.78 4.65 9.62 10 7.24 3.38 1.76
Depreciation Expense		 0.40 0.06 0.28 0.42 0.40 0.21 0.05
Other Operating Expenses / (Income)		 - - - - -3.04 -4.00 -1.61
Total Other Income / (Expense), net		 0.03 -0.61 -0.55 -1.81 2.05 -1.30 3.35
Interest Expense		 0.00 0.72 0.50 1.15 0.77 0.12 0.02
Other Income / (Expense), net		 -0.01 0.11 -0.04 -0.67 2.82 -1.18 3.37
Income Tax Expense		 - - - - - 0.00 -0.25
Net Income / (Loss) Attributable to Noncontrolling Interest		 -2.19 1.08 -0.54 -0.85 0.00 -0.30 -0.08
Basic Earnings per Share		 - $0.00 ($29.15) $30.73 ($5.56) ($0.94) $1.43
Weighted Average Basic Shares Outstanding		 - 0.00 1.14M 1.17M 2.58M 2.92M 4.84M
Diluted Earnings per Share		 - $0.00 - $30.73 ($5.56) ($0.94) $1.43
Weighted Average Diluted Shares Outstanding		 - 0.00 11.38M 1.17M 2.58M 2.92M 4.84M
Weighted Average Basic & Diluted Shares Outstanding		 - 0.00 11.38M 5.71M - 6.06M 7.96M

Quarterly Income Statements for Motorsport Games

This table shows Motorsport Games' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -3.56 2.55 -1.66 2.11 -0.55 -2.64 1.04 4.26 0.79 0.84 0.32
Consolidated Net Income / (Loss)		 -3.53 2.67 -1.68 2.09 -0.57 -2.88 1.02 4.24 0.77 0.82 0.95
Net Income / (Loss) Continuing Operations		 -3.53 2.67 -1.68 2.09 -0.57 -2.88 1.02 4.24 0.77 0.82 0.95
Total Pre-Tax Income 		-3.53 2.67 -1.68 2.09 -0.57 -2.88 1.02 4.24 0.77 0.57 0.95
Total Operating Income		 -2.66 0.31 -1.22 2.06 -1.93 -0.66 -0.09 1.97 0.80 0.57 1.06
Total Gross Profit		 0.86 1.07 2.36 1.11 1.09 0.90 1.29 2.14 2.50 3.27 3.51
Total Revenue		 1.69 1.75 3.03 1.88 1.80 1.97 1.76 2.59 3.10 3.85 4.03
Operating Revenue		 1.69 1.75 3.03 1.88 1.80 1.97 1.76 2.59 3.10 3.85 4.03
Total Cost of Revenue		 0.83 0.67 0.67 0.77 0.72 1.07 0.47 0.45 0.60 0.58 0.52
Operating Cost of Revenue		 0.83 0.67 0.67 0.77 0.72 1.07 0.47 0.45 0.60 0.58 0.52
Total Operating Expenses		 3.53 0.76 3.58 -0.95 3.02 1.56 1.39 0.17 1.71 2.69 2.46
Selling, General & Admin Expense		 1.53 1.91 2.19 1.41 1.95 1.33 1.17 0.87 1.14 1.96 1.70
Marketing Expense		 0.36 0.28 0.25 0.21 0.18 0.11 0.10 0.13 0.14 0.26 0.21
Research & Development Expense		 1.57 1.49 1.06 0.87 0.85 0.60 0.60 0.27 0.42 0.47 0.51
Depreciation Expense		 0.08 0.12 0.07 0.06 0.05 0.02 0.02 0.01 0.01 0.01 0.01
Other Operating Expenses / (Income)		 0.00 - 0.00 -3.50 0.00 -0.50 -0.50 -1.10 -0.00 - 0.00
Impairment Charge		 0.00 - - - - - - - - - 0.03
Total Other Income / (Expense), net		 -0.87 2.36 -0.47 0.03 1.36 -2.22 1.12 2.27 -0.03 -0.00 -0.10
Interest Expense		 0.23 0.10 0.03 0.03 0.03 0.03 0.01 0.00 0.00 -0.00 0.00
Other Income / (Expense), net		 -0.64 2.46 -0.44 0.06 1.39 -2.19 1.13 2.27 -0.03 -0.01 -0.10
Net Income / (Loss) Attributable to Noncontrolling Interest		 0.03 0.12 -0.02 -0.02 -0.02 -0.24 -0.02 -0.02 -0.02 -0.02 0.64
Basic Earnings per Share		 ($1.31) $0.99 ($0.61) $0.77 ($0.18) ($0.90) $0.33 $0.82 $0.14 $0.14 $0.06
Weighted Average Basic Shares Outstanding		 2.72M 2.58M 2.72M 2.72M 3.02M 2.92M 3.18M 5.21M 5.46M 4.84M 5.46M
Diluted Earnings per Share		 ($1.31) $0.99 ($0.61) $0.77 ($0.18) ($0.90) $0.33 $0.82 $0.14 $0.14 $0.06
Weighted Average Diluted Shares Outstanding		 2.72M 2.58M 2.72M 2.72M 3.02M 2.92M 3.18M 5.21M 5.46M 4.84M 5.48M
Weighted Average Basic & Diluted Shares Outstanding		 3.42M 0.00 3.42M 3.77M 3.88M 6.06M 5.78M 5.78M 5.78M 7.96M 4.17M

Annual Cash Flow Statements for Motorsport Games

This table details how cash moves in and out of Motorsport Games' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -1.45 2.03 14 -17 0.70 -0.82 4.13
Net Cash From Operating Activities		 -4.42 4.05 -21 -20 -14 -2.84 4.07
Net Cash From Continuing Operating Activities		 -4.42 4.05 -21 -20 -14 -2.84 4.07
Net Income / (Loss) Continuing Operations		 -5.76 -0.68 -34 -37 -14 -3.05 6.84
Consolidated Net Income / (Loss)		 -5.76 -0.68 -34 -37 -14 -3.05 6.84
Depreciation Expense		 0.86 0.72 1.79 2.06 2.12 2.59 1.12
Non-Cash Adjustments To Reconcile Net Income		 1.24 0.42 13 14 1.58 -2.36 -2.70
Changes in Operating Assets and Liabilities, net		 -0.77 3.60 -2.01 0.97 -3.02 -0.02 -1.19
Net Cash From Investing Activities		 -0.59 -1.80 -14 -0.29 4.21 1.18 -1.12
Net Cash From Continuing Investing Activities		 -0.59 -1.80 -14 -0.29 4.21 1.18 -1.12
Purchase of Property, Plant & Equipment		 -0.11 -0.14 -0.75 -0.29 -0.03 -0.03 -1.12
Sale of Property, Plant & Equipment		 - - - - 0.00 0.21 0.00
Divestitures		 - - - - - 1.00 0.00
Net Cash From Financing Activities		 3.56 -0.23 49 1.71 9.94 0.83 1.06
Net Cash From Continuing Financing Activities		 3.56 -0.23 49 1.71 9.94 0.83 1.06
Repayment of Debt		 - 0.00 -13 - - 0.00 -0.44
Repurchase of Common Equity		 0.00 - - - - 0.00 -0.10
Issuance of Common Equity		 - 0.00 64 0.04 11 0.88 2.35
Other Financing Activities, net		 - -0.23 -0.23 -2.09 -1.11 -0.05 -0.75
Effect of Exchange Rate Changes		 - 0.00 -0.10 1.26 0.20 0.01 0.12
Cash Interest Paid		 0.00 0.00 0.80 0.19 0.42 0.03 0.01
Cash Income Taxes Paid		 - - - - - 0.00 0.00

Quarterly Cash Flow Statements for Motorsport Games

This table details how cash moves in and out of Motorsport Games' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -0.78 0.49 -0.42 -0.72 0.22 0.11 0.19 1.32 1.76 0.86 0.87
Net Cash From Operating Activities		 -1.26 -3.55 -0.37 -0.70 -0.68 -1.09 0.38 -0.03 2.06 1.74 1.65
Net Cash From Continuing Operating Activities		 -1.26 -3.55 -0.37 -0.70 -0.68 -1.09 0.38 -0.03 2.06 1.74 1.65
Net Income / (Loss) Continuing Operations		 -3.53 2.67 -1.68 2.09 -0.57 -2.88 1.02 4.24 0.77 0.82 0.95
Consolidated Net Income / (Loss)		 -3.53 2.67 -1.68 2.09 -0.57 -2.88 1.02 4.24 0.77 0.82 0.95
Depreciation Expense		 0.50 0.60 0.60 0.59 0.57 0.83 0.25 0.25 0.29 0.33 0.18
Non-Cash Adjustments To Reconcile Net Income		 0.32 -3.78 0.60 -3.19 -1.31 1.54 -1.15 -2.31 -0.02 0.79 0.38
Changes in Operating Assets and Liabilities, net		 1.46 -3.04 0.10 -0.18 0.64 -0.58 0.25 -2.21 1.02 -0.19 0.14
Net Cash From Investing Activities		 -0.00 4.24 0.00 -0.03 - 1.21 0.00 -0.37 -0.31 -0.45 -0.65
Net Cash From Continuing Investing Activities		 -0.00 4.24 0.00 -0.03 - 1.21 0.00 -0.37 -0.31 -0.45 -0.65
Purchase of Property, Plant & Equipment		 -0.00 -0.00 - - - 0.00 0.00 - -0.31 -0.45 -0.65
Net Cash From Financing Activities		 -0.15 -0.15 -0.05 - 0.88 - -0.22 1.80 -0.15 -0.44 -0.06
Net Cash From Continuing Financing Activities		 -0.15 -0.15 -0.05 - 0.88 - -0.22 1.80 -0.15 -0.44 -0.06
Repayment of Debt		 - - - - - - -0.07 - - - -0.06
Other Financing Activities, net		 -0.15 -0.15 -0.05 - - - -0.15 -0.45 -0.15 - 0.00
Effect of Exchange Rate Changes		 0.62 -0.05 0.00 -0.00 0.02 -0.01 0.04 -0.09 0.16 0.01 -0.07
Cash Interest Paid		 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.00 0.00 -0.00 0.00

Annual Balance Sheets for Motorsport Games

This table presents Motorsport Games' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 13 17 51 19 9.76 6.27 12
Total Current Assets		 7.13 10 25 4.04 3.52 2.80 7.59
Cash & Equivalents		 1.96 3.99 18 0.98 1.68 0.86 4.99
Accounts Receivable		 5.09 5.98 5.63 2.02 0.74 1.45 2.24
Prepaid Expenses		 0.08 0.51 1.18 1.05 1.11 0.49 0.35
Plant, Property, & Equipment, net		 0.13 0.16 0.73 0.52 0.25 0.06 0.03
Total Noncurrent Assets		 5.52 6.75 25 14 5.99 3.42 4.35
Intangible Assets		 5.33 5.57 20 13 5.80 3.37 3.77
Noncurrent Deferred & Refundable Income Taxes		 - - - - - 0.00 0.49
Other Noncurrent Operating Assets		 0.06 1.05 0.00 0.97 0.20 0.05 0.08
Total Liabilities & Shareholders' Equity		 13 17 51 19 9.76 6.27 12
Total Liabilities		 9.17 16 13 17 7.67 5.04 4.39
Total Current Liabilities		 9.17 15 9.12 13 7.59 5.02 3.37
Short-Term Debt		 - - - - - - 0.00
Accounts Payable		 8.31 12 1.90 2.37 0.81 2.98 0.92
Accrued Expenses		 0.85 3.36 4.05 3.42 1.89 0.68 1.29
Current Deferred Revenue		 - - - - - 0.39 1.13
Other Current Liabilities		 - - 3.17 7.53 4.89 0.98 0.02
Total Noncurrent Liabilities		 0.00 0.86 3.60 3.67 0.08 0.02 1.02
Noncurrent Deferred & Payable Income Tax Liabilities		 - - - - - 0.00 0.22
Other Noncurrent Operating Liabilities		 0.00 0.86 3.60 3.67 0.03 0.02 0.80
Commitments & Contingencies		 - 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 3.61 1.62 38 1.90 2.09 1.23 7.58
Total Preferred & Common Equity		 -3.06 -1.03 37 1.53 1.04 0.50 6.78
Preferred Stock		 - 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 -3.06 -1.03 37 1.53 1.04 0.50 6.78
Common Stock		 -3.06 0.00 76 76 92 93 95
Retained Earnings		 - -4.83 -38 -74 -89 -92 -85
Accumulated Other Comprehensive Income / (Loss)		 - 0.00 -0.95 -0.93 -1.85 -0.67 -3.58
Noncontrolling Interest		 6.68 2.65 1.26 0.37 1.05 0.73 0.81

Quarterly Balance Sheets for Motorsport Games

This table presents Motorsport Games' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 11 9.82 7.21 6.97 6.06 8.15 10 14
Total Current Assets		 2.85 4.15 2.18 2.36 2.72 4.76 6.34 9.06
Cash & Equivalents		 1.18 1.25 0.53 0.75 1.05 2.37 4.13 5.86
Accounts Receivable		 0.70 1.42 0.84 0.89 0.87 1.59 1.49 2.27
Prepaid Expenses		 0.96 1.47 0.81 0.71 0.80 0.80 0.72 0.94
Plant, Property, & Equipment, net		 0.31 0.18 0.14 0.09 0.04 0.03 0.03 0.05
Total Noncurrent Assets		 8.25 5.50 4.89 4.52 3.31 3.37 3.73 4.77
Intangible Assets		 8.00 5.35 4.80 4.46 3.26 3.33 3.69 4.13
Noncurrent Deferred & Refundable Income Taxes		 - - - - - - - 0.49
Other Noncurrent Operating Assets		 0.25 0.15 0.10 0.06 0.05 0.04 0.03 0.14
Total Liabilities & Shareholders' Equity		 11 9.82 7.21 6.97 6.06 8.15 10 14
Total Liabilities		 11 8.83 4.18 4.80 4.65 2.58 3.31 5.32
Total Current Liabilities		 7.96 8.78 4.13 4.77 4.64 2.57 3.30 3.91
Short-Term Debt		 - - - - - - - 0.35
Accounts Payable		 1.32 1.51 1.76 2.60 2.73 1.03 0.97 1.18
Accrued Expenses		 3.69 2.48 1.40 1.23 1.26 1.35 2.28 1.46
Current Deferred Revenue		 - - - - - - - 0.90
Other Current Liabilities		 2.95 4.79 0.97 0.94 0.65 0.19 0.04 0.01
Total Noncurrent Liabilities		 2.95 0.06 0.05 0.03 0.01 0.01 0.01 1.41
Noncurrent Deferred & Payable Income Tax Liabilities		 - - - - - - - 0.22
Other Noncurrent Operating Liabilities		 2.95 0.06 0.05 0.03 0.01 0.01 0.01 1.19
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 0.50 0.99 3.03 2.17 1.42 5.57 6.79 8.56
Total Preferred & Common Equity		 0.41 2.06 4.30 4.09 0.65 4.82 5.85 7.05
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 0.41 2.06 4.30 4.09 0.65 4.82 5.85 7.05
Common Stock		 92 92 92 93 93 95 95 95
Retained Earnings		 -91 -89 -86 -86 -91 -86 -86 -85
Accumulated Other Comprehensive Income / (Loss)		 -0.69 -1.27 -1.35 -2.48 -1.56 -3.90 -3.66 -3.62
Noncontrolling Interest		 0.09 -1.07 -1.27 -1.92 0.77 0.75 0.94 1.51

Annual Metrics And Ratios for Motorsport Games

This table displays calculated financial ratios and metrics derived from Motorsport Games' official financial filings.

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 0.00 0.00 18,635,897.00 1,867,359.00 3,422,728.00 3,883,558.00 5,778,450.00
DEI Adjusted Shares Outstanding		 0.00 0.00 1,863,590.00 1,867,359.00 3,422,728.00 3,883,558.00 5,778,450.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 0.00 -17.79 -19.27 -4.18 -0.71 1.20
Growth Metrics		 - - - - - - -
Revenue Growth		 0.00% 60.71% -20.84% -31.51% -33.08% 25.73% 30.05%
EBITDA Growth		 0.00% 119.18% -4,056.77% -2.57% 66.00% 97.05% 2,390.95%
EBIT Growth		 0.00% 102.09% -31,981.87% -3.24% 62.04% 78.40% 326.09%
NOPAT Growth		 0.00% 100.02% -3,010,270.71% -1.45% 53.26% 89.31% 375.09%
Net Income Growth		 0.00% 88.19% -4,857.64% -9.30% 61.12% 78.72% 324.56%
EPS Growth		 0.00% 0.00% 0.00% 0.00% -118.09% 83.09% 252.13%
Operating Cash Flow Growth		 0.00% 191.60% -616.65% 6.79% 30.06% 79.21% 243.51%
Free Cash Flow Firm Growth		 0.00% 0.00% -1,259.76% 88.69% -108.25% 89.71% 201.50%
Invested Capital Growth		 0.00% -243.78% 949.05% -95.42% -50.20% -20.30% 605.65%
Revenue Q/Q Growth		 0.00% 0.00% 54.06% -30.14% -22.65% 2.68% 19.88%
EBITDA Q/Q Growth		 0.00% 0.00% -12.79% 6.63% 38.72% -106.69% 60.30%
EBIT Q/Q Growth		 0.00% 0.00% -13.17% 6.47% 34.41% -208.76% 106.85%
NOPAT Q/Q Growth		 0.00% 0.00% -13.02% 4.38% 25.12% -56.58% 67.44%
Net Income Q/Q Growth		 0.00% 0.00% -13.26% 5.52% 34.43% -221.82% 117.29%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 194.23% 30.67% -216.05% 126.98%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% -58.27% 7.67% -7.47% 46.41% 227.46%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 18.59% -0.98% 60.79% 49.89%
Invested Capital Q/Q Growth		 0.00% 0.00% -11.90% -75.24% 167.33% -74.17% -2.94%
Profitability Metrics		 - - - - - - -
Gross Margin		 58.75% 65.37% 50.06% 51.96% 47.60% 62.87% 81.47%
EBITDA Margin		 -36.46% 4.35% -217.48% -325.73% -165.49% -3.89% 68.51%
Operating Margin		 -43.68% 0.01% -229.02% -339.25% -236.94% -20.14% 28.76%
EBIT Margin		 -43.73% 0.57% -229.32% -345.70% -196.10% -33.70% 58.58%
Profit (Net Income) Margin		 -48.57% -3.57% -223.57% -356.82% -207.29% -35.09% 60.59%
Tax Burden Percent		 111.83% 111.62% 96.09% 100.00% 100.00% 100.00% 103.72%
Interest Burden Percent		 99.31% -561.68% 101.46% 103.22% 105.70% 104.13% 99.72%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -3.72%
Return on Invested Capital (ROIC)		 -219.37% 0.00% -271.75% -232.55% -1,655.81% -296.27% 228.09%
ROIC Less NNEP Spread (ROIC-NNEP)		 -110.59% 0.00% -184.30% -101.46% -1,436.33% -149.76% 109.33%
Return on Net Nonoperating Assets (RNNOA)		 60.02% 0.00% 101.51% 47.82% 938.41% 112.41% -72.65%
Return on Equity (ROE)		 -159.35% -26.01% -170.24% -184.73% -717.40% -183.86% 155.44%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% -231.65% -50.08% -1,588.78% -273.67% 77.74%
Operating Return on Assets (OROA)		 -40.56% 0.72% -101.55% -102.56% -94.57% -36.53% 72.59%
Return on Assets (ROA)		 -45.05% -4.51% -99.00% -105.86% -99.96% -38.04% 75.07%
Return on Common Equity (ROCE)		 135.19% 20.37% -153.43% -177.17% -461.75% -84.99% 128.34%
Return on Equity Simple (ROE_SIMPLE)		 187.82% 66.02% -91.79% -2,402.05% -1,381.98% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -3.62 0.00 -24 -25 -11 -1.22 3.37
NOPAT Margin		 -30.57% 0.00% -160.32% -237.48% -165.86% -14.10% 29.82%
Net Nonoperating Expense Percent (NNEP)		 -108.77% -22.88% -87.45% -131.09% -219.48% -146.51% 118.76%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - -536.69% -99.91% 44.45%
Cost of Revenue to Revenue		 41.25% 34.63% 49.94% 48.04% 52.40% 37.13% 18.53%
SG&A Expenses to Revenue		 21.99% 22.76% 168.34% 133.31% 135.56% 79.23% 45.43%
R&D to Revenue		 40.37% 24.41% 63.82% 100.90% 104.74% 38.89% 15.58%
Operating Expenses to Revenue		 102.42% 65.36% 279.08% 391.21% 284.54% 83.01% 52.72%
Earnings before Interest and Taxes (EBIT)		 -5.18 0.11 -35 -36 -14 -2.93 6.62
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -4.32 0.83 -33 -34 -11 -0.34 7.74
Valuation Ratios		 - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 1.73 5.05 10.20 10.49 2.70
Price to Tangible Book Value (P/TBV)		 0.00 0.00 5.57 0.00 0.00 0.00 6.10
Price to Revenue (P/Rev)		 5.06 3.15 4.20 0.75 1.53 0.60 1.62
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 2.64
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 37.82%
Enterprise Value to Invested Capital (EV/IC)		 39.18 0.00 2.32 7.73 21.73 13.84 5.46
Enterprise Value to Revenue (EV/Rev)		 5.46 3.08 3.10 0.69 1.45 0.58 1.25
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 70.79 0.00 0.00 0.00 0.00 1.83
Enterprise Value to EBIT (EV/EBIT)		 0.00 540.92 0.00 0.00 0.00 0.00 2.13
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 73,053.96 0.00 0.00 0.00 0.00 4.19
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 14.47 0.00 0.00 0.00 0.00 3.47
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 14.56 0.00 0.00 0.00 0.00 12.30
Leverage & Solvency		 - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.02 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.02 0.00 0.00
Financial Leverage		 -0.54 -1.14 -0.55 -0.47 -0.65 -0.75 -0.66
Leverage Ratio		 3.54 5.77 1.72 1.75 7.18 4.83 2.07
Compound Leverage Factor		 3.51 -32.41 1.74 1.80 7.59 5.03 2.06
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 2.14% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 2.14% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 184.84% 163.73% 3.32% 19.42% 49.33% 59.52% 10.63%
Common Equity to Total Capital		 -84.84% -63.73% 96.68% 80.58% 48.54% 40.48% 89.37%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.14 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.14 0.00 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 3.33 2.70 0.35 -11.48 -16.32 -20.46 -4.23
Noncontrolling Interest Sharing Ratio		 184.84% 178.31% 9.87% 4.09% 35.64% 53.78% 17.43%
Liquidity Ratios		 - - - - - - -
Current Ratio		 0.78 0.70 2.70 0.30 0.46 0.56 2.25
Quick Ratio		 0.77 0.67 2.57 0.22 0.32 0.46 2.15
Cash Flow Metrics		 - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 4.03 -47 -5.28 -11 -1.13 1.15
Operating Cash Flow to CapEx		 -4,085.99% 2,963.95% -2,776.30% -6,674.90% -43,129.75% 0.00% 362.75%
Free Cash Flow to Firm to Interest Expense		 0.00 5.61 -92.64 -4.60 -14.23 -9.37 61.13
Operating Cash Flow to Interest Expense		 0.00 5.65 -41.54 -17.00 -17.66 -23.50 216.81
Operating Cash Flow Less CapEx to Interest Expense		 0.00 5.46 -43.03 -17.26 -17.70 -22.00 157.04
Efficiency Ratios		 - - - - - - -
Asset Turnover		 0.93 1.26 0.44 0.30 0.48 1.08 1.24
Accounts Receivable Turnover		 2.33 3.44 2.60 2.70 5.02 7.96 6.12
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 93.02 131.55 33.91 16.53 17.94 57.32 255.93
Accounts Payable Turnover		 0.59 0.66 1.12 2.32 2.27 1.70 1.08
Days Sales Outstanding (DSO)		 156.84 106.05 140.47 135.11 72.67 45.86 59.62
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 620.60 549.83 326.33 157.32 160.59 214.42 339.53
Cash Conversion Cycle (CCC)		 -463.75 -443.78 -185.87 -22.21 -87.92 -168.56 -279.92
Capital & Investment Metrics		 - - - - - - -
Invested Capital		 1.65 -2.37 20 0.92 0.46 0.37 2.59
Invested Capital Turnover		 7.18 -52.68 1.70 0.98 9.98 21.01 7.65
Increase / (Decrease) in Invested Capital		 0.00 -4.03 23 -19 -0.46 -0.09 2.22
Enterprise Value (EV)		 65 59 47 7.14 10.00 5.07 14
Market Capitalization		 60 60 63 7.75 11 5.20 18
Book Value per Share		 ($1.02) ($0.06) $1.97 $0.82 $0.30 $0.13 $1.17
Tangible Book Value per Share		 ($2.84) ($0.38) $0.61 ($6.33) ($1.39) ($0.74) $0.52
Total Capital		 3.61 1.62 38 1.90 2.14 1.23 7.58
Total Debt		 0.00 0.00 0.00 0.00 0.05 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.05 0.00 0.00
Net Debt		 -1.96 -3.99 -18 -0.98 -1.63 -0.86 -4.99
Capital Expenditures (CapEx)		 0.11 0.14 0.75 0.29 0.03 -0.18 1.12
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -4.00 -8.43 -2.32 -10 -5.75 -3.08 -0.77
Debt-free Net Working Capital (DFNWC)		 -2.04 -4.44 16 -9.28 -4.07 -2.23 4.22
Net Working Capital (NWC)		 -2.04 -4.44 16 -9.28 -4.07 -2.23 4.22
Net Nonoperating Expense (NNE)		 2.13 0.68 9.54 12 2.86 1.82 -3.48
Net Nonoperating Obligations (NNO)		 -1.96 -3.99 -18 -0.98 -1.63 -0.86 -4.99
Total Depreciation and Amortization (D&A)		 0.86 0.72 1.79 2.06 2.12 2.59 1.12
Debt-free, Cash-free Net Working Capital to Revenue		 -33.72% -44.27% -15.38% -99.35% -83.21% -35.51% -6.83%
Debt-free Net Working Capital to Revenue		 -17.18% -23.32% 102.82% -89.87% -58.97% -25.62% 37.37%
Net Working Capital to Revenue		 -17.18% -23.32% 102.82% -89.87% -58.97% -25.62% 37.37%
Earnings Adjustments		 - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 ($29.10) ($30.73) $5.06 ($0.94) $1.43
Adjusted Weighted Average Basic Shares Outstanding		 0.00 1.78M 3.27M 1.17M 2.58M 2.92M 4.84M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 ($29.10) $0.00 $5.06 ($0.94) $1.43
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 1.78M 3.27M 5.71M 2.58M 2.92M 4.84M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 ($29.10) $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 1.78M 1.14M 5.71M 0.00 6.06M 7.96M
Normalized Net Operating Profit after Tax (NOPAT)		 -3.22 0.00 -24 -18 -8.66 -1.22 2.27
Normalized NOPAT Margin		 -27.18% 0.00% -158.84% -172.28% -125.29% -14.10% 20.13%
Pre Tax Income Margin		 -43.43% -3.20% -232.67% -356.82% -207.29% -35.09% 58.41%
Debt Service Ratios		 - - - - - - -
EBIT to Interest Expense		 0.00 0.15 -68.57 -31.09 -17.53 -24.24 352.31
NOPAT to Interest Expense		 0.00 0.00 -47.94 -21.35 -14.83 -10.14 179.36
EBIT Less CapEx to Interest Expense		 0.00 -0.04 -70.07 -31.34 -17.57 -22.74 292.54
NOPAT Less CapEx to Interest Expense		 0.00 -0.19 -49.44 -21.61 -14.87 -8.64 119.60
Payout Ratios		 - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% -10.68% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% -10.68% 0.00% 0.00% 0.00% 1.41%

Quarterly Metrics And Ratios for Motorsport Games

This table displays calculated financial ratios and metrics derived from Motorsport Games' official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 3,420,328.00 3,422,728.00 3,422,728.00 3,422,728.00 3,774,656.00 3,883,558.00 6,063,943.00 5,778,450.00 5,778,450.00 5,778,450.00 7,958,835.00
DEI Adjusted Shares Outstanding		 3,420,328.00 3,422,728.00 3,422,728.00 3,422,728.00 3,774,656.00 3,883,558.00 6,063,943.00 5,778,450.00 5,778,450.00 5,778,450.00 7,958,835.00
DEI Earnings Per Adjusted Shares Outstanding		 -1.04 0.75 -0.49 0.62 -0.15 -0.68 0.17 0.74 0.14 0.15 0.04
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 38.49% -53.66% 75.15% 8.20% 6.44% 12.96% -41.95% 37.74% 71.94% 94.93% 129.25%
EBITDA Growth		 64.01% 187.55% 76.95% 136.31% 100.83% -159.74% 222.57% 66.28% 4,458.77% 144.50% -12.18%
EBIT Growth		 60.15% 163.84% 67.34% 126.61% 83.56% -202.85% 162.67% 100.40% 241.75% 120.01% -7.81%
NOPAT Growth		 64.72% 108.44% 77.54% 134.19% 27.50% -251.22% 89.05% -4.40% 159.08% 224.19% 1,233.56%
Net Income Growth		 58.60% 155.08% 67.99% 125.45% 83.79% -207.79% 160.75% 103.03% 234.12% 128.33% -6.95%
EPS Growth		 82.03% 123.52% 73.82% 125.33% 86.26% -190.91% 154.10% 6.49% 177.78% 115.56% -81.82%
Operating Cash Flow Growth		 74.24% -36.57% 93.43% 78.02% 45.83% 69.31% 200.84% 95.62% 402.42% 259.98% 337.86%
Free Cash Flow Firm Growth		 -81.62% -95.07% 837.53% -56.28% -235.54% -147.99% -114.66% 24.73% 87.06% -345.44% -125.98%
Invested Capital Growth		 -118.32% -50.20% -104.74% 71.99% 307.76% -20.30% 240.49% 28.21% 87.77% 605.65% 732.57%
Revenue Q/Q Growth		 -2.60% 3.16% 73.35% -37.88% -4.18% 9.48% -10.91% 47.39% 19.61% 24.12% 4.77%
EBITDA Q/Q Growth		 62.37% 220.35% -131.15% 357.42% -99.14% -8,770.86% 163.91% 249.22% -76.44% -15.36% 26.11%
EBIT Q/Q Growth		 58.47% 183.84% -159.66% 228.12% -125.65% -424.48% 136.35% 309.70% -81.85% -25.98% 67.53%
NOPAT Q/Q Growth		 69.02% 116.41% -377.87% 342.00% -165.69% 65.76% 79.87% 2,211.77% -59.40% -28.03% 83.73%
Net Income Q/Q Growth		 56.91% 175.58% -163.02% 224.00% -127.45% -402.44% 135.52% 314.45% -81.87% 6.12% 16.68%
EPS Q/Q Growth		 56.91% 175.57% -161.62% 226.23% -123.38% -400.00% 136.67% 148.48% -82.93% 0.00% -57.14%
Operating Cash Flow Q/Q Growth		 60.34% -182.35% 89.46% -86.24% 2.25% -59.97% 134.62% -109.98% 6,851.20% -15.38% -5.23%
Free Cash Flow Firm Q/Q Growth		 10.10% -69.80% 538.12% -79.40% -441.30% 89.31% -94.98% 275.27% -135.42% -268.03% 1.08%
Invested Capital Q/Q Growth		 -147.02% 167.33% -156.69% 1,058.21% -43.20% -74.17% -0.07% 774.48% -16.81% -2.94% 17.91%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 50.91% 61.42% 77.99% 58.99% 60.25% 45.75% 73.53% 82.45% 80.72% 85.05% 87.17%
EBITDA Margin		 -165.45% 193.02% -34.68% 143.72% 1.29% -102.08% 73.23% 173.50% 34.17% 23.31% 28.05%
Operating Margin		 -157.32% 17.52% -40.12% 109.41% -107.15% -33.51% -5.30% 75.93% 25.77% 14.94% 26.21%
EBIT Margin		 -195.05% 158.53% -54.56% 112.52% -30.13% -144.33% 58.89% 163.70% 24.84% 14.81% 23.68%
Profit (Net Income) Margin		 -208.64% 152.86% -55.58% 110.94% -31.78% -145.87% 58.15% 163.52% 24.79% 21.20% 23.60%
Tax Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 143.00% 100.00%
Interest Burden Percent		 106.97% 96.43% 101.87% 98.60% 105.50% 101.06% 98.74% 99.89% 99.81% 100.07% 99.66%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 -645.48% 174.93% -87.95% 462.32% -1,723.42% -492.86% -744.35% 216.36% 118.88% 114.29% 208.11%
ROIC Less NNEP Spread (ROIC-NNEP)		 -569.62% -6.37% -64.32% 460.02% -1,804.03% -298.70% -841.25% 59.52% 120.13% 106.07% 211.31%
Return on Net Nonoperating Assets (RNNOA)		 336.50% 4.16% 36.88% -178.04% 1,306.39% 224.21% 804.36% -20.04% -65.38% -70.48% -138.90%
Return on Equity (ROE)		 -308.98% 179.09% -51.07% 284.28% -417.03% -268.65% 60.01% 196.32% 53.50% 43.80% 69.21%
Cash Return on Invested Capital (CROIC)		 0.00% -1,588.78% 0.00% -106.60% -203.23% -273.67% -291.08% -49.91% 37.50% 77.74% 100.28%
Operating Return on Assets (OROA)		 -108.33% 76.45% -28.06% 91.48% -27.73% -156.47% 54.99% 173.20% 27.42% 18.35% 32.23%
Return on Assets (ROA)		 -115.88% 73.72% -28.59% 90.20% -29.25% -158.13% 54.30% 173.01% 27.37% 26.26% 32.12%
Return on Common Equity (ROCE)		 -295.80% 115.27% -54.77% 334.08% -703.78% -124.18% 67.40% 208.23% 59.35% 36.17% 53.43%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% -522.52% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -1.87 0.31 -0.85 2.06 -1.35 -0.46 -0.09 1.97 0.80 0.57 1.06
NOPAT Margin		 -110.12% 17.52% -28.09% 109.41% -75.01% -23.46% -5.30% 75.93% 25.77% 14.94% 26.21%
Net Nonoperating Expense Percent (NNEP)		 -75.86% 181.29% -23.63% 2.30% 80.62% -194.16% 96.90% 156.84% -1.25% 8.22% -3.20%
Return On Investment Capital (ROIC_SIMPLE)		 - 14.34% -85.77% 67.97% -62.29% -37.76% -6.58% 35.33% 11.76% 7.58% 11.86%
Cost of Revenue to Revenue		 49.09% 38.58% 22.01% 41.01% 39.75% 54.25% 26.47% 17.55% 19.28% 14.95% 12.83%
SG&A Expenses to Revenue		 90.13% 109.14% 72.31% 75.03% 107.98% 67.61% 66.45% 33.38% 36.87% 50.84% 42.14%
R&D to Revenue		 92.50% 85.01% 35.11% 46.17% 47.06% 30.28% 34.23% 10.43% 13.51% 12.19% 12.76%
Operating Expenses to Revenue		 208.23% 43.24% 118.11% -50.42% 167.40% 79.26% 78.83% 6.52% 55.07% 70.00% 60.97%
Earnings before Interest and Taxes (EBIT)		 -3.30 2.77 -1.65 2.12 -0.54 -2.85 1.04 4.24 0.77 0.57 0.95
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -2.80 3.37 -1.05 2.70 0.02 -2.01 1.29 4.50 1.06 0.90 1.13
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 30.01 10.20 3.51 1.90 1.43 10.49 9.82 3.48 2.76 2.70 4.63
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 11.26 7.49 6.10 11.19
Price to Revenue (P/Rev)		 1.39 1.53 0.88 0.98 0.69 0.60 0.86 2.06 1.72 1.62 2.40
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 2.40 0.00 0.00 7.96 4.69 2.64 5.26
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 41.70% 0.00% 0.00% 12.56% 21.32% 37.82% 19.01%
Enterprise Value to Invested Capital (EV/IC)		 0.00 21.73 0.00 2.55 2.24 13.84 16.60 4.73 4.87 5.46 9.38
Enterprise Value to Revenue (EV/Rev)		 1.26 1.45 0.60 0.76 0.38 0.58 0.82 1.86 1.38 1.25 2.11
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 2.87 0.63 0.00 3.04 3.99 2.69 1.83 3.78
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 1.18 0.00 0.00 8.03 4.06 2.13 4.38
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 6.46 4.19 6.51
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 10.45 3.47 5.36
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 16.96 12.30 16.71
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.04
Long-Term Debt to Equity		 0.00 0.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 -0.59 -0.65 -0.57 -0.39 -0.72 -0.75 -0.96 -0.34 -0.54 -0.66 -0.66
Leverage Ratio		 4.32 7.18 2.60 3.19 6.89 4.83 6.60 1.79 1.90 2.07 2.00
Compound Leverage Factor		 4.62 6.92 2.65 3.14 7.27 4.89 6.51 1.78 1.90 2.07 1.99
Debt to Total Capital		 0.00% 2.14% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 3.97%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 3.97%
Long-Term Debt to Total Capital		 0.00% 2.14% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 17.31% 49.33% -107.38% -42.02% -88.54% 59.52% 54.24% 13.49% 13.86% 10.63% 16.90%
Common Equity to Total Capital		 82.69% 48.54% 207.38% 142.02% 188.54% 40.48% 45.76% 86.51% 86.14% 89.37% 79.13%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.05
Net Debt to EBITDA		 0.00 0.14 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.73
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.08
Net Debt to NOPAT		 0.00 0.14 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -1.25
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 -11.16 -10.80 -12.43 -13.79 -16.06 -20.42 -18.72 -7.92 -7.40 -5.90 -3.20
Noncontrolling Interest Sharing Ratio		 4.27% 35.64% -7.24% -17.52% -68.76% 53.78% -12.31% -6.06% -10.94% 17.43% 22.80%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.36 0.46 0.47 0.53 0.49 0.56 0.59 1.85 1.92 2.25 2.32
Quick Ratio		 0.24 0.32 0.30 0.33 0.34 0.46 0.41 1.54 1.70 2.15 2.08
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 2.55 0.77 4.91 1.01 -3.46 -0.37 -0.72 1.26 -0.45 -1.65 -1.63
Operating Cash Flow to CapEx		 -53,191.40% -73,035.02% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 670.40% 390.41% 253.74%
Free Cash Flow to Firm to Interest Expense		 11.08 7.78 159.13 34.04 -115.76 -12.21 -55.38 266.43 -311.91 0.00 -508.05
Operating Cash Flow to Interest Expense		 -5.46 -35.84 -12.10 -23.40 -22.79 -35.94 28.96 -6.43 1,434.70 0.00 514.77
Operating Cash Flow Less CapEx to Interest Expense		 -5.47 -35.89 -12.10 -23.40 -22.79 -35.94 28.96 -6.43 1,220.69 0.00 311.90
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.56 0.48 0.51 0.81 0.92 1.08 0.93 1.06 1.10 1.24 1.36
Accounts Receivable Turnover		 12.62 5.02 6.87 8.67 10.59 7.96 6.47 6.69 7.90 6.12 8.66
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 18.17 17.94 25.60 31.42 41.62 57.32 69.40 96.54 148.68 255.93 316.19
Accounts Payable Turnover		 1.63 2.27 2.38 2.23 1.44 1.70 1.43 1.94 1.45 1.08 1.10
Days Sales Outstanding (DSO)		 28.93 72.67 53.12 42.10 34.48 45.86 56.38 54.57 46.19 59.62 42.15
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 224.61 160.59 153.15 163.71 252.86 214.42 255.62 188.48 251.87 339.53 332.57
Cash Conversion Cycle (CCC)		 -195.68 -87.92 -100.03 -121.61 -218.38 -168.56 -199.24 -133.91 -205.68 -279.92 -290.42
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -0.68 0.46 -0.26 2.50 1.42 0.37 0.37 3.20 2.67 2.59 3.05
Invested Capital Turnover		 5.86 9.98 3.13 4.23 22.98 21.01 140.45 2.85 4.61 7.65 7.94
Increase / (Decrease) in Invested Capital		 -4.41 -0.46 -5.76 1.05 2.10 -0.09 0.63 0.71 1.25 2.22 2.68
Enterprise Value (EV)		 11 10.00 4.90 6.38 3.18 5.07 6.09 15 13 14 29
Market Capitalization		 12 11 7.22 8.18 5.85 5.20 6.37 17 16 18 33
Book Value per Share		 $0.12 $0.30 $0.60 $1.26 $1.08 $0.13 $0.11 $0.83 $1.01 $1.17 $0.89
Tangible Book Value per Share		 ($2.22) ($1.39) ($0.96) ($0.14) ($0.10) ($0.74) ($0.43) $0.26 $0.37 $0.52 $0.37
Total Capital		 0.50 2.14 0.99 3.03 2.17 1.23 1.42 5.57 6.79 7.58 8.91
Total Debt		 0.00 0.05 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.35
Total Long-Term Debt		 0.00 0.05 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -1.18 -1.63 -1.25 -0.53 -0.75 -0.86 -1.05 -2.37 -4.13 -4.99 -5.51
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 -0.00 0.00 0.00 0.31 0.45 0.65
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -6.30 -5.75 -5.88 -2.48 -3.16 -3.08 -2.97 -0.18 -1.08 -0.77 -0.35
Debt-free Net Working Capital (DFNWC)		 -5.11 -4.07 -4.63 -1.95 -2.41 -2.23 -1.92 2.18 3.05 4.22 5.51
Net Working Capital (NWC)		 -5.11 -4.07 -4.63 -1.95 -2.41 -2.23 -1.92 2.18 3.05 4.22 5.16
Net Nonoperating Expense (NNE)		 1.67 -2.36 0.83 -0.03 -0.78 2.42 -1.12 -2.27 0.03 -0.24 0.10
Net Nonoperating Obligations (NNO)		 -1.18 -1.63 -1.25 -0.53 -0.75 -0.86 -1.05 -2.37 -4.13 -4.99 -5.51
Total Depreciation and Amortization (D&A)		 0.50 0.60 0.60 0.59 0.57 0.83 0.25 0.25 0.29 0.33 0.18
Debt-free, Cash-free Net Working Capital to Revenue		 -70.48% -83.21% -71.60% -29.72% -37.40% -35.51% -40.04% -2.23% -11.49% -6.83% -2.58%
Debt-free Net Working Capital to Revenue		 -57.25% -58.97% -56.34% -23.38% -28.53% -25.62% -25.88% 26.87% 32.32% 37.37% 40.60%
Net Working Capital to Revenue		 -57.25% -58.97% -56.34% -23.38% -28.53% -25.62% -25.88% 26.87% 32.32% 37.37% 37.99%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($1.28) $0.99 ($0.60) $0.87 $0.00 ($0.90) $0.33 $0.82 $0.14 $0.14 $0.06
Adjusted Weighted Average Basic Shares Outstanding		 2.72M 2.58M 2.72M 2.72M 3.02M 2.92M 3.18M 5.21M 5.46M 4.84M 5.46M
Adjusted Diluted Earnings per Share		 ($1.28) $0.99 ($0.60) $0.87 $0.00 ($0.90) $0.33 $0.82 $0.14 $0.14 $0.06
Adjusted Weighted Average Diluted Shares Outstanding		 2.72M 2.58M 2.72M 2.72M 3.02M 2.92M 3.18M 5.21M 5.46M 4.84M 5.48M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.99 $0.00 $0.00 $0.00 ($0.90) $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 3.42M 0.00 3.42M 3.77M 3.88M 6.06M 5.78M 5.78M 5.78M 7.96M 4.17M
Normalized Net Operating Profit after Tax (NOPAT)		 -1.87 0.21 -0.85 1.44 -1.35 -0.46 -0.07 1.38 0.56 0.40 0.76
Normalized NOPAT Margin		 -110.12% 12.27% -28.09% 76.59% -75.01% -23.46% -3.71% 53.15% 18.04% 10.46% 18.83%
Pre Tax Income Margin		 -208.64% 152.86% -55.58% 110.94% -31.78% -145.87% 58.15% 163.52% 24.79% 14.82% 23.60%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -14.35 28.00 -53.51 71.18 -18.20 -94.09 79.60 895.13 536.94 0.00 297.90
NOPAT to Interest Expense		 -8.10 3.09 -27.55 69.21 -45.30 -15.29 -7.16 415.20 557.15 0.00 329.62
EBIT Less CapEx to Interest Expense		 -14.36 27.95 -53.51 71.18 -18.20 -94.09 79.60 895.13 322.93 0.00 95.03
NOPAT Less CapEx to Interest Expense		 -8.11 3.05 -27.55 69.21 -45.30 -15.29 -7.16 415.20 343.14 0.00 126.74
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 1.41% 0.00%

Financials Breakdown Chart

Key Financial Trends

Motorsport Games (NASDAQ: MSGM) posted a much stronger first quarter in 2026 than it did a year ago, with meaningful revenue growth, solid operating profitability, and a healthy cash balance. That said, the company’s longer-term financial history still shows a very volatile business with heavy reliance on one-time items, large swings in profitability, and a balance sheet that has been stretched in prior periods.

  • Revenue accelerated sharply year over year. Q1 2026 revenue rose to $4.0 million from $1.8 million in Q1 2025, more than doubling and signaling a stronger top line.
  • Gross profit improved significantly. Gross profit was $3.5 million in Q1 2026, up from $1.3 million in Q1 2025, showing better monetization and/or lower direct costs.
  • Operating income turned positive and remained strong. MSGM generated $1.1 million in operating income in Q1 2026 versus an operating loss in Q1 2025, a clear year-over-year improvement.
  • Cash from operations was strong. The company generated $1.65 million in operating cash flow in Q1 2026, well above the prior-year quarter, which is a good sign for near-term liquidity.
  • Cash and equivalents were elevated. The balance sheet showed $5.9 million in cash and equivalents at March 31, 2026, providing a decent cushion for a small-cap company.
  • Expenses remain high relative to revenue. Selling, marketing, and R&D spending are still significant, which means profitability depends heavily on continued revenue growth and cost discipline.
  • Balance sheet leverage is still present. MSGM reported $3.9 million in current liabilities and $5.3 million in total liabilities, so liquidity remains important even with higher cash.
  • Noncontrolling interests complicate the earnings picture. A sizable portion of reported net income is attributable to noncontrolling interests, which makes common shareholder earnings less straightforward to analyze.
  • Historical volatility is a major concern. Over the last several quarters, MSGM has swung from losses to large gains and back again, suggesting earnings can be highly dependent on non-recurring items.
  • Past periods showed weak operating cash flow and heavy balance sheet stress. In 2024 and early 2025, the company posted periods of negative operating cash flow, large losses, and very thin or strained equity levels, highlighting execution risk.

Bottom line: Motorsport Games showed a notable turnaround in Q1 2026, with stronger revenue, improved margins, and positive operating cash flow. Still, investors should view the results with caution because the company’s multi-year track record includes sharp swings in revenue, profitability, and cash generation. The latest quarter is encouraging, but consistency will matter more than one strong quarter.

07/21/26 12:25 PM ETAI Generated. May Contain Errors.

Motorsport Games Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Motorsport Games' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Motorsport Games' net income appears to be on a downward trend, with a most recent value of $6.84 million in 2025, falling from -$5.76 million in 2019. The previous period was -$3.05 million in 2024. See where experts think Motorsport Games is headed by visiting Motorsport Games' forecast page.

Motorsport Games' total operating income in 2025 was $3.25 million, based on the following breakdown:
  • Total Gross Profit: $9.20 million
  • Total Operating Expenses: $5.96 million

Over the last 6 years, Motorsport Games' total revenue changed from $11.85 million in 2019 to $11.30 million in 2025, a change of -4.7%.

Motorsport Games' total liabilities were at $4.39 million at the end of 2025, a 13.0% decrease from 2024, and a 52.1% decrease since 2019.

In the past 6 years, Motorsport Games' cash and equivalents has ranged from $859.27 thousand in 2024 to $17.82 million in 2021, and is currently $4.99 million as of their latest financial filing in 2025.

Over the last 6 years, Motorsport Games' book value per share changed from -1.02 in 2019 to 1.17 in 2025, a change of -214.8%.


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Financial statements for NASDAQ:MSGM last updated on 7/16/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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