Movers and SHAKERS
eSports Entertainment Group, Inc. (GMBL)
Score One For The House
Esports Entertainment Group Inc is a development-stage online gambling company focused purely on esports. The company's principal business operations include design, develop and test wagering systems.
Michael Kupinski, Director of Research, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Off to a good start. Fiscal first quarter revenues were on point at $16.4 million, with lower than expected Adj. EBITDA loss of $2.6 million, versus our $4.3 million loss estimate. The results were influenced by a large number of acquisitions, including the recent acquisition of BetHard. In addition, Gross Margins significantly improved from 59% in fiscal Q4 to 61% in the latest quarter.
Reiterates fiscal 2022 revenue guidance. The first quarter indicates that the company is on a trajectory to achieving its fiscal 2022 revenue goal of $100 million. At this time, we are maintaining our more conservative estimate of $95.0 million. Given a more favorable Gross Margin assumption, we are lowering our adj. EBITDA loss for the year from $11.5 million to a loss of $9.0 million, which also ...
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.