Earnings Releases·Nov 12, 2026, 5:00 PM ET

Motorsport Games — Third Quarter 2026 Earnings Summary

Q3 2026 revenues reached $3.8 million (up 21.8% YoY) and net income was $0.7 million, marking the seventh consecutive quarter of profitability; Adjusted EBITDA for the nine-month period rose 99.0% YoY to $4.0 million.
Balance sheet strength improved significantly with cash and cash equivalents rising to $5.4 million and working capital turning positive to $4.2 million, while deferred revenue hit a post-IPO high of $1.6 million.
RaceControl subscription revenues grew 17.3% of total revenue to $2.0 million for the nine months ended September 30, 2026, driven by organic subscriber growth of 157% to over 45,000 paid users.
Strategic milestones include *Le Mans Ultimate* surpassing 2 million combined unit sales, the upcoming December 2026 launch of the company-owned RaceControl web portal, and the completion of the U.S. Track Pass for *Le Mans Ultimate*.
Management confirmed the business recovery is complete with a focus on diversified growth; capital activities included a $3.7 million share repurchase in Q2 2026 and $0.9 million in proceeds from warrant exercises in August 2026.