Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) Q3 2023 Earnings Call Transcript November 10, 2023

Operator: Good afternoon, and welcome to the Allied Gaming & Entertainment, Inc. Third Quarter 2023 Earnings Conference Call. [Operator Instructions] Please word, this occasion is being recorded. I might now like to show the convention over to Tyler Drew of Addo Investor Relations. Please go forward.

Tyler Drew: Thank you, operator. Good afternoon, and welcome to the Allied Gaming & Entertainment 2023 Third Quarter Earnings Conference Call. Speaking on the decision at present are Allied Gaming & Entertainment’s Chief Executive Officer Yinghua Chen and Chief Financial Officer, Roy Anderson. Before I flip the decision over to administration, please word that our ready remarks could comprise forward-looking statements. Words resembling could, will, count on, intend, plan, consider, search, may, estimate, judgment, concentrating on, ought to, anticipate, objective and variations of those phrases and related expressions are meant to be recognized as forward-looking statements. Actual outcomes may differ materially from these implied by such forward-looking statements on account of a wide range of components mentioned within the firm’s public filings, together with the chance components mentioned in paperwork filed with the Securities and Exchange Commission.

Although the corporate believes the expectations mirrored in such forward-looking statements are primarily based upon affordable assumptions, it may give no assurance that its expectations will likely be attained. The firm undertakes no obligation to replace any forward-looking statements, whether or not on account of new data, future occasions or in any other case. In addition, sure of the monetary data introduced on this name represents non-GAAP monetary measures. The firm’s earnings launch, which was issued this afternoon and is on the market on the corporate’s web site, presents definitions of such non-GAAP monetary measures, reconciliations to the suitable GAAP measures and a proof of why the corporate believes such non-GAAP monetary measures are helpful to buyers.

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An inside shot of a gaming operators facility, gaming machines reflecting the lights.

And with that, it’s now my pleasure to show the decision over to Allied Gaming & Entertainment CEO, Yinghua Chen.

Yinghua Chen: Thank you, Tyler, and thanks all for becoming a member of us this afternoon. As we share our thrilling growth from the previous quarter, we’re dedicated to executing our strategic plan to concentrate on our development within the realms of e-sports, gaming and leisure. Beginning with our monetary efficiency in Q3, we have achieved a big milestone by recording constructive web revenue. This accomplishment displays our relentless effort to boost operational effectivity and scale back bills in anticipation of strong income development in 2024. Our unwavering dedication to bettering profitability stays steadfast regardless of the challenges we confronted in Q3, significantly within the type of a 28% lower in revenues, largely on account of lower of life occasions, reflecting the influence of financial uncertainty.

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