Friday, January 14, 2022

Engine Media (GAME)(GAME:CA)
Quarter Illustrates The Wisdom Of Diversified Revenue Streams

Engine Media Holdings Inc is engaged in esports data provision, esports tournament hosting, and esports racing. Its brand profile includes Eden Games, Allin sports, and UMG, and others. The company’s operating segments include E-Sports; Media and Advertising and Corporate and Other. It generates maximum revenue from the Media and Advertising segment. The Media and Advertising segment includes platform and advertising services provided to other broadcasters, primarily local tv and radio broadcasters.

Michael Kupinski, Director of Research, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Exceeds fiscal Q1 expectations. The company’s fiscal year started off strongly, with first quarter revenues exceeding our expectations ($14.3 million versus our $12.3 million estimate). First quarter revenues grew 92% year-over-year from $7.5 million in the first quarter of fiscal 2021. Adjusted EBITDA loss of $4.9 million was largely in line with our $4.7 million loss estimate.


Advertising, Game and SaaS were strong.  The company’s software-as-a-service (SaaS) revenue grew 45% from the previous year quarter to $2.1 million. Advertising revenue grew 84% compared with the previous year quarter of $5.5 million, topping our forecast of $6 million by 65%. Game development revenue also topped our forecast, growing 320% year-over-year with $2.1 million compared to our estimate of …

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.