RE:RE:NEW RECORD Q2!DRiPInc wrote: While the increase in eyes on the apps/Esports and an increase in the gaming handle is encouraging, these numbers need to efficiently be turned into $$$. With Q2 gross gaming revenue of $443,000 and a negative net gaming revenue of $195,000, there is a lot of work to be done in this regard. EBITDA loss of $8.6 MM vs. $2.2 MM in 2019 is concerning.
Third-quarter is going to be very, very ugly, but I am hopeful they can tighten costs and reduce the $ spent it takes to drive revenue moving forward.
Stay healthy all,
DRIP
Finally someone else that looked at the numbers. Despite what others say, the numbers here are not good. $8.6M loss is massive. They are down to $33M in current assets (down from $45M last quarter!). That's not a huge amount of runway when there is no revenue coming in. These are just facts.
Now I think this will all turn around eventually, and won't be selling, but these next few months and next couple of earnings will be ugly. Hopefully we get some good news from: sports coming back, expanding into more states, legalization in Canada & provinces, and hopefully soon a net positive gaming revenue.