Allied Gaming & Leisure Inc. (NASDAQ:AGAE) This autumn 2023 Earnings Name Transcript March 27, 2024
Allied Gaming & Leisure Inc. is not one of many 30 hottest shares amongst hedge funds on the finish of the third quarter (see the details here).
Operator: Greetings and welcome to the Allied Gaming & Leisure, Integrated Fourth Quarter and Full Yr 2023 Earnings Convention Name. [Operator Instructions] And as a reminder, this convention is being recorded. It’s now my pleasure to introduce to you Tyler Drew with Investor Relations. Thanks, Tyler. You might start.
Tyler Drew: Thanks, operator. Good afternoon, and welcome to the Allied Gaming & Leisure 2023 fourth quarter and full yr earnings convention name. Talking on the decision right this moment are Allied Gaming & Leisure’s Chief Govt Officer Yinghua Chen; and Chief Monetary Officer, Roy Anderson. Earlier than I flip the decision over to administration, please observe that our ready remarks might include forward-looking statements. Phrases resembling might, will, anticipate, intend, plan, imagine, search, may, estimate, judgment, focusing on, ought to, anticipate, purpose and variations of those phrases and related expressions are supposed to be recognized as forward-looking statements. Precise outcomes may differ materially from these implied by such forward-looking statements resulting from a wide range of components mentioned within the firm’s public filings, together with the danger components mentioned in paperwork filed with the Securities and Change Fee.
Though the corporate believes the expectations mirrored in such forward-looking statements are based mostly upon cheap assumptions, it can provide no assurance that its expectations will probably be attained. The corporate undertakes no obligation to replace any forward-looking statements, whether or not on account of new data, future occasions or in any other case. As well as, sure of the monetary data offered on this name represents non-GAAP monetary measures. The corporate’s earnings launch, which was issued this afternoon is obtainable on the corporate’s web site, presents definitions of such non-GAAP monetary measures, reconciliations to the suitable GAAP measures and an evidence of why the corporate believes such non-GAAP monetary measures are helpful to traders.
And with that, it’s now my pleasure to show the decision over to Allied Gaming & Leisure CEO, Yinghua Chen. Yinghua?
Yinghua Chen: Thanks, Tyler, and thanks all for becoming a member of us this afternoon. We have made substantial progress throughout 2023 and have entered 2024 able of energy. Allied Esports Worldwide, Allied Cell Leisure, and Allied Experiential Leisure are all poised for development as we execute on our strategic targets this yr. Let’s start with a evaluation of our monetary efficiency for the yr. In 2023, whole revenues of $7.7 million have been up 21% from 2022. Whereas our internet loss attributable to frequent stockholders decreased by 68%. The development in internet loss was from our continued dedication decreasing our bills. Common and administrative bills improved by 30% and we’re well-positioned for 2024. Turning to Allied Esports Worldwide, or AEI, our HyperX Enviornment was in excessive demand in the course of the fourth quarter, and hosted a wide range of occasions with 64 occasions, comprising 30 proprietary occasions and 34 third-party occasions.
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