Sports Entertainment Gaming Global Media (SEGG) Q2 2026 earnings summary

Executive summary

• Q2 revenue rose to $3.23M from $192K, primarily reflecting Veloce results consolidated from its February 17 acquisition; comparisons are affected by the acquisition and corrected prior-period figures.

• Operating loss widened to $4.82M, while consolidated net loss narrowed to $2.46M, helped by $2.81M of other income, primarily from writing off time-barred liabilities.

• Liquidity remains constrained: cash and restricted cash were $713K at June 30, and substantial doubt about the ability to continue as a going concern remains.

Financial highlights

• Q2 revenue was $3.23M, up 1,584% YoY; cost of revenue was $2.29M and gross profit was $937K, up 3,129% YoY.

• Q2 operating expenses rose 50% YoY to $5.76M; operating loss was $4.82M versus $3.82M, while net loss was $2.46M versus $3.86M.

• H1 revenue was $4.43M, up 966% YoY; gross profit was $1.27M, operating loss $10.00M, and net loss $6.00M.

• H1 net loss attributable to SEGG Media was $7.95M versus $6.92M; basic and diluted loss per share was $3.15 versus $18.38, with share amounts reflecting reverse splits.

• H1 other income of $5.86M primarily reflected time-barred liability write-offs; a $4.85M noncash write-off also affected the operating cash-flow reconciliation.

Outlook and guidance

• Additional operating losses are anticipated over the next 12 months; operations remain dependent on obtaining additional capital through equity, debt, or convertible debt financing.

• Remainder-of-2026 priorities include growing revenue-generating businesses, supporting operations, improving financial reporting and operational processes, and managing liquidity and capital resources.

• Expected capital uses over the next 12 months include working capital, operating businesses, acquisition obligations, technology and platform development, and sales and marketing.

• Lottery.com’s affiliate model is expected to begin generating revenue in Q4; IGA is expected to fund market entry, licensing, marketing, and customer acquisition in initial Latin American and Canadian markets.

• Sports.com Predict was taken offline in September to conserve resources amid reporting and capital constraints; a relaunch is intended when reporting is current and resources are sufficient.