Esports Mogul looks for traction with tournament gaming model after Q4 revenue boost
Link copied to
Shares in tournament gaming platform Esports Mogul (ASX:ESH) rose this morning following a Q4 revenue boost.
With quarterlies season in full swing, the company said revenue in the December quarter amounted to $171,000.
That was up 441pc from the previous quarter, ESH said, indicating September quarter revenues came in at around $38,000.
Heading into midday trade, shares in the company were up by around 13 per cent, to 1.7c.
The top-line revenue numbers flowed through to receipts from customers of $139,000, ESH said.
Net operating cash outflows for the period amounted to $1.288m, largely due to advertising expenses ($362,000), staff costs ($494,000) and admin costs ($405,000).
While quarterly cash out-flows exceeded the seven-figure mark, ESH closed the quarter with $8.13m in the bank and said it remains well-funded following a successful $8m placement in mid-October priced at 1c per share.
The company said its near-term priorities for deployment of the funds centred around e-commerce and digital sales expertise, scaling product and engineering resources, and data analytics.
ESH said it “continued to develop its revenue model” in the quarter, as it looks to establish gaming and brand partnerships via its mogul.gg platform.
It also flagged further growth opportunities stemming from its October tie-up with the NASDAQ-listed Super League Gaming Inc (SLGG).
With access to SLGG’s technology, ESH said its gaming platform now includes the capacity to provide a “world-class AI powered broadcast, streaming and content creation into its online tournament events”.
“This model has delivered revenue growth during the quarter and continues to generate significant inbound interest from publishers and brands,” ESH said.