Super League Gaming (SLGG) Q2 2026 earnings summary

Executive summary

• Gross revenue for Q2 2026 was $3.0 million, flat year-over-year and sequentially, reflecting resilience amid a challenging advertising environment; six-month revenue rose 5% to $6.0 million, driven by growth in media, advertising, and publishing, offset by the loss of direct-to-consumer revenue after the Mineville sale.

• Net revenue increased 16% sequentially to $1.24 million, with gross margin improving to 41% from 36% in Q1.

• Adjusted EBITDA loss improved 20% year-over-year to $1.7 million, compared to a $2.1 million loss in the prior year quarter.

• Net loss for Q2 2026 was $4.4 million, up from $2.8 million in Q2 2025, reflecting higher operating and noncash expenses.

• Integration of Misfits Ads assets completed without increasing the overall cost base, expanding programmatic and turnkey media capabilities.

Financial highlights

• Gross revenue stable at $3.0 million, in line with analyst expectations.

• Net revenue up 16% sequentially to $1.24 million.

• Gross margin rose to 41%, up from 36% in Q1.

• Adjusted EBITDA loss improved to $1.7 million, a 20% year-over-year improvement.

• Ended Q2 with $6.7 million in cash and investments, up from $475,000 a year ago.

Outlook and guidance

• Focus remains on converting a growing commercial pipeline into revenue and achieving adjusted EBITDA profitability in Q4 2026.

• Priorities include improving revenue quality and margin, maintaining cost discipline, and leveraging new capabilities from the Misfits acquisition.

• Existing liquidity deemed sufficient to fund ongoing operations for at least the next 12 months, with no need to raise additional capital anticipated.

• Revenue is expected to remain seasonally higher in the second half of the year due to advertising cycles.

• Ongoing cost reduction initiatives since May 2024 have reduced operating expenses by 15% in Q2 and 12% for the six months, excluding noncash charges.