Motorsport Games
Motorsport Games, headquartered in Miami, Florida, is a video game developer and publisher specializing in racing simulations, including KartKraft, Le Mans Ultimate, and NASCAR 21: Ignition.
Company Overview
Motorsport Games, headquartered in Miami, Florida, is a dedicated video game developer and publisher. The company has additional offices in Orlando, Florida, and near Silverstone Circuit in the UK. Motorsport Games specializes in creating officially licensed video game content for major racing events, including the 24 Hours of Le Mans and the FIA World Endurance Championship. The company owns critically acclaimed simulation platforms such as rFactor 2 and KartKraft, and reported significant revenue growth in Q1 2024.
Products
Motorsport Games has a diverse portfolio of racing video games and simulation platforms. Its flagship products include KartKraft, now available in full release, and Le Mans Ultimate, which is available in Early Access. NASCAR 21: Ignition is available on Nintendo Switch. Motorsport Games also owns rFactor 2, which is recognized as the world's most diverse and dynamic racing simulation and serves as the official sim racing platform of Formula E.
Strategic Partnerships
Motorsport Games has engaged in several strategic partnerships to enhance its offerings. The company has partnered with Coach Dave Academy to manage content for its new platform, RaceControl.gg, which is dedicated to Le Mans Ultimate. Additionally, Motorsport Games executed a BTCC Settlement Agreement and entered into a new BTCC License Agreement. The company also announced the sale of Traxion to Traxion.GG Ltd for $250,000.
Financial Performance
Motorsport Games has demonstrated notable financial performance milestones. In Q1 2024, the company reported a revenue increase to $3.0 million, an improvement of $1.3 million compared to Q1 2023. The company's net loss also decreased to $1.7 million in Q1 2024, compared to a net loss of $5.3 million in Q1 2023. The launch of Le Mans Ultimate in Early Access on PC contributed to approximately 79,000 units sold in Q1 2024.
Innovative Initiatives
Motorsport Games is continually innovating within the racing video game and simulation space. The company launched RaceControl.gg, a new platform specifically for Le Mans Ultimate. This platform aims to build a comprehensive virtual racing ecosystem, encompassing products such as Le Mans Ultimate and rFactor 2. These initiatives reflect Motorsport Games' commitment to providing cutting-edge and immersive racing simulation experiences for enthusiasts.