Sports Entertainment Gaming Global Media (SEGG) Q1 2026 earnings summary

Executive summary

• Q1 revenue rose to $1.20M from $224K, largely reflecting Veloce results from its February 17 acquisition; the quarter remained loss-making, with a $5.17M operating loss and $3.54M net loss.

• Results are not directly comparable with Q1 2025 due to Veloce’s partial-quarter consolidation and corrections to historical financial statements.

• Substantial doubt about going concern remains; operations continue to depend on external financing amid recurring losses and negative operating cash flow.

Financial highlights

• Revenue was $1.201M, up $977K, or 437% YoY; cost of revenue was $869K, up $707K, or 435% YoY.

• Gross profit was $332K versus $61K; operating expenses rose 61% to $5.504M, including $2.317M in professional fees.

• Operating loss was $5.173M versus $3.348M; net loss was $3.540M versus $3.159M.

• Basic and diluted loss per share was $2.49 versus $9.42; comparative EPS reflects the 7-for-1 reverse split and corrected prior-period amounts.

• Operating cash use was $8.265M versus $575K; financing provided $7.295M, and cash and restricted cash ended at $785,905.

Outlook and guidance

• Near-term operating costs are expected to remain elevated as acquisitions are integrated, infrastructure is developed, and restatement work continues.

• Management expects lottery affiliate-model revenue to begin in Q4 2026; planned capital uses include operations, acquisition obligations, technology, platform development, and sales and marketing.

• Over the next 12 months, execution depends on additional capital; initiatives may be delayed, modified, or discontinued if funding is insufficient.

• Sports.com Predict expanded to full public access in permitted jurisdictions on July 22, 2026; revenue depends on transaction activity and regulatory approvals.