Super League Gaming (SLGG) Q1 2026 earnings summary

Executive summary

• Achieved early progress on 2026 strategic priorities, shifting from stabilization to disciplined execution and focusing on scalable, predictable revenue.

• Gross revenue for Q1 2026 rose to $3.3 million, up from $2.7 million year-over-year, with gross margin improving to 36% from 32% in Q4 2025.

• Integration and acquisition of Misfits Ads Business, along with new partnerships and investments in Solsten and Roblox properties, are expected to drive growth and profitability.

• Significant cost reductions and operating efficiencies achieved, with operating expenses (excluding noncash charges) down 11% year-over-year.

• Engaged 23 new clients year-to-date and increased activity with returning partners.

Financial highlights

• Q1 2026 gross revenue was $3.3 million, up from $2.7 million year-over-year; gross margin improved to 36% from 32% in Q4 2025.

• Net loss for Q1 2026 was $4.05 million, an improvement from $4.23 million in Q1 2025; adjusted net loss (excluding noncash charges) was $2.4 million.

• Cash and investments at quarter-end totaled $11.4 million; no anticipated need to raise capital for ongoing operations.

• Operating expenses increased to $5.24 million from $4.83 million year-over-year.

• Cash-based EBITDA improved 11% year-over-year.

Outlook and guidance

• Path to cash-based EBITDA profitability by year-end remains on track, supported by a strong cash position and expanded capabilities.

• Combined Super League and Misfits pipeline reflects approximately $12 million of gross revenue potential for fiscal year 2026 (pro forma, not formal guidance).

• Expectation of positive financial impact from Misfits Ads acquisition beginning in Q2 2026.

• Management expects continued revenue growth from media and advertising, with seasonally higher results in the second half of the year.

• Ongoing focus on cost control and operating efficiency.