MSGM · Motorsport Games Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.03M | - | $3.10M | $2.59M | $1.76M | - | $1.80M | $1.88M | $3.03M | - |
| Cost of Revenue | $517.1K | - | $597.8K | $454.9K | $465.4K | - | $716.7K | $771.6K | $666.6K | - |
| Gross Profit | $3.51M | - | $2.50M | $2.14M | $1.29M | - | $1.09M | $1.11M | $2.36M | - |
| R&D | $514.3K | - | $418.9K | $270.3K | $602.0K | - | $848.5K | $868.7K | $1.06M | - |
| SG&A | $1.70M | - | $1.14M | $865.0K | $1.17M | - | $1.95M | $1.41M | $2.19M | - |
| Total Operating Expenses | $2.46M | - | $1.71M | $1.27M | $1.89M | - | $3.02M | $2.55M | $3.58M | - |
| D&A | $176.0K | - | $9.4K | $11.7K | $252.1K | - | $47.2K | $63.1K | $601.9K | - |
| Operating Income | $1.06M | - | $798.9K | $1.97M | ($93.2K) | - | ($1.93M) | $2.06M | ($1.22M) | - |
| Interest Expense | $3.2K | - | $1.4K | $4.7K | $13.0K | - | $29.9K | $29.7K | $30.9K | - |
| Income Tax | - | - | - | - | - | - | - | - | - | - |
| Net Income | $315.8K | - | $789.3K | $4.26M | $1.04M | - | $9.8K | $2.38M | ($1.63M) | - |
| EPS - Basic | $0.06 | - | $0.14 | $0.82 | $0.33 | - | $0.00 | $0.87 | ($0.60) | - |
| EPS - Diluted | $0.06 | - | $0.14 | $0.82 | $0.33 | - | $0.00 | $0.87 | ($0.60) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $5.86M | $4.99M | $4.13M | $2.37M | $1.05M | $859.3K | $751.0K | $529.4K | $1.25M | $1.68M |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $1.18M | $918.3K | $973.9K | $1.03M | $2.73M | $2.98M | $2.60M | $1.76M | $1.51M | $813.7K |
| Current Assets | $9.06M | $7.59M | $6.34M | $4.76M | $2.72M | $2.80M | $2.36M | $2.18M | $4.15M | $3.52M |
| Total Assets | $13.88M | $11.97M | $10.10M | $8.15M | $6.06M | $6.27M | $6.97M | $7.21M | $9.82M | $9.76M |
| Current Liabilities | $3.91M | $3.37M | $3.30M | $2.57M | $4.64M | $5.02M | $4.77M | $4.13M | $8.78M | $7.59M |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $5.32M | $4.39M | $3.31M | $2.58M | $4.65M | $5.04M | $4.80M | $4.18M | $8.83M | $7.67M |
| Stockholders' Equity | $7.05M | $6.78M | $5.85M | $4.82M | $648.4K | $496.3K | $4.09M | $4.30M | $2.06M | $3.04M |
| Retained Earnings | ($84.55M) | ($84.86M) | ($85.70M) | ($86.49M) | ($90.75M) | ($91.79M) | ($86.34M) | ($86.35M) | ($88.67M) | ($87.03M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.65M | - | - | - | $305.2K | - | - | - | ($847.7K) | - |
| Investing Cash Flow | ($650.2K) | - | - | - | - | - | - | - | - | - |
| Financing Cash Flow | ($63.3K) | - | - | - | ($150.0K) | - | - | - | ($50.0K) | - |
| CapEx | $21.6K | - | - | - | - | - | - | - | - | - |
| Free Cash Flow | $1.63M | - | - | - | - | - | - | - | - | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 87.2% | - | 80.7% | 82.4% | 73.5% | - | 60.2% | 59.0% | 78.0% | - |
| Operating margin | 26.2% | - | 25.8% | 75.9% | -5.3% | - | -107.2% | 109.4% | -40.1% | - |
| EBITDA margin | 30.6% | - | 26.1% | 76.4% | 9.0% | - | -104.5% | 112.8% | -20.2% | - |
| Net margin | 7.8% | - | 25.5% | 164.3% | 59.2% | - | 0.5% | 126.3% | -54.0% | - |
| Free cash flow margin | 40.4% | - | - | - | - | - | - | - | - | - |
| FCF / Net income | 5.16 | - | - | - | - | - | - | - | - | - |
| R&D / Revenue | 12.8% | - | 13.5% | 10.4% | 34.2% | - | 47.1% | 46.2% | 35.1% | - |
| SG&A / Revenue | 42.1% | - | 36.9% | 33.4% | 66.4% | - | 108.0% | 75.0% | 72.3% | - |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | 2.3% | - | 7.8% | 52.2% | 17.2% | - | 0.1% | 33.0% | -16.6% | - |
| Return on equity | 4.5% | - | 13.5% | 88.4% | 160.5% | - | 0.2% | 55.2% | -79.5% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 2.32 | 2.25 | 1.92 | 1.85 | 0.59 | 0.56 | 0.49 | 0.53 | 0.47 | 0.46 |
| Quick ratio | 2.32 | 2.25 | 1.92 | 1.85 | 0.59 | 0.56 | 0.49 | 0.53 | 0.47 | 0.46 |
| Cash ratio | 1.50 | 1.48 | 1.25 | 0.92 | 0.23 | 0.17 | 0.16 | 0.13 | 0.14 | 0.22 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | 329.6x | - | 557.1x | 415.2x | -7.2x | - | -64.7x | 69.2x | -39.4x | - |
| Equity multiplier | 1.97 | 1.77 | 1.73 | 1.69 | 9.35 | 12.63 | 1.70 | 1.68 | 4.78 | 3.21 |
| Liabilities / Assets | 0.38 | 0.37 | 0.33 | 0.32 | 0.77 | 0.80 | 0.69 | 0.58 | 0.90 | 0.79 |
| Efficiency | ||||||||||
| Asset turnover | 0.29 | - | 0.31 | 0.32 | 0.29 | - | 0.26 | 0.26 | 0.31 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | 834d | - | 595d | 828d | 2139d | - | 1324d | 835d | 826d | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | 68.3x | - | 20.0x | 3.5x | 3.2x | - | - | 2.7x | - | - |
| P / B | 3.2x | - | 2.6x | 3.1x | 5.2x | - | 1.1x | 1.5x | 2.8x | - |
| P / S | 5.6x | - | 4.9x | 5.8x | 1.9x | - | 2.6x | 3.5x | 1.9x | - |
| EV / EBITDA | 13.5x | - | 13.8x | 6.4x | 14.4x | - | - | 2.8x | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 129.3% | - | 71.9% | 37.7% | -41.9% | - | 6.4% | 8.2% | 75.2% | - |
| Revenue CAGR (3y) | 32.6% | - | 36.3% | 8.9% | -19.1% | - | -41.5% | -21.5% | -2.2% | - |
| Revenue CAGR (5y) | 4.5% | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | 171.8% | - | 130.4% | 92.5% | -45.3% | - | 26.0% | 27.2% | 391.5% | - |
| Operating income growth (YoY) | - | - | - | -4.4% | 92.3% | - | 27.5% | - | 77.5% | - |
| Net income growth (YoY) | -69.7% | - | 7931.9% | 79.2% | - | - | - | - | 68.0% | - |
| EPS growth (YoY) | -81.8% | - | - | -5.7% | - | - | - | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | 24.3% | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 987.4% | 1265.4% | 43.0% | 12.0% | -68.5% | -83.7% | 892.1% | 31.3% | -81.5% | 98.4% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$11.30M totalGaming$11.30M · 100.0%
Product / service
$11.30M totalIngame Revenues$4.97M · 44.0%
Digital Game Sales$4.47M · 39.6%
Subscription And Circulation$1.13M · 10.0%
Software Development$506.7K · 4.5%
Other$216.9K · 1.9%
Peer comparison
Same SIC group: Services-Prepackaged Software
Comparing Motorsport Games Inc. against the 5 most active filers in the same SIC group.