Thursday, October 14, 2021
eSports Entertainment Group, Inc. (GMBL)
A Moose Or A Golden Goose?
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.
Fiscal Q4 falls short. While revenues were in line with expectations at $8.8 million, adjusted EBITDA loss was greater than expected at $5.4 million versus our loss estimate of $3.8 million. Operating expenses were significantly higher, which more than offset the better than expected gross margins.
Lowering our fiscal 2022 adj. EBITDA estimate. Management’s Fiscal Q1 revenue guide was lighter than what we were looking for at $16.0 million to $16.5 million versus our $19.0 million estimate. Fiscal full year 2022 revenue guide was reiterated at $100 million to $105 million. We are keeping our more conservative $95 million revenue estimate. Given elevated investment levels, we are raising our …
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.
