MSGM · Motorsport Games Inc.
Motorsport Games Inc. develops and publishes racing video games for personal computers in the United States. The company operates through Gaming and Esports segments. It provides rFactor 2, a realistic racing simulation game; KartKraft, a kart racing simulator; and Le Mans Ultimate, an official game of the FIA World Endurance Championship and 24 Hours of Le Mans. The company also organizes and facilitates esports tournaments, competitions, and events for its licensed racing games, as well as on behalf of third-party racing game developers and publishers. It offers its products for game consoles, personal computer, and mobile platforms through various retail and digital channels, including full-game and downloadable content. The company was founded in 2018 and is headquartered in Miramar, Florida. Motorsport Games Inc. operates as a subsidiary of Driven Lifestyle Group LLC.
Cap structure and valuation
| Cap structure | |
|---|---|
| SP | $4.05 |
| SO | 4.6M |
| Options | 0.1M |
| Warrants | 1.4M |
| FD SO | 6.0M |
| MC | $24.5M |
| Cash | $3.9M |
| Total debt | $1.2M |
| EV | $21.7M |
| TTM Multiples | |
|---|---|
| EV / Revenue | 1.5x |
| EV / EBITDA | 5.3x |
| MC / Net Income | 8.8x |
| EV / FCF | — |
| MC / FCF | — |
| Ownership & coverage | |
|---|---|
| Institutional | 21.8% |
| Insiders | 45.1% |
| # Institutions | 24 |
| Analysts | 1 |
| Consensus | Strong Buy |
| Avg target | $9.00 |
| Short % float | 3.8% |
| Days to cover | 2.03 |
MC = SP × FD SO. EV = MC + Debt − Cash. SP = previous yfinance close. Balance-sheet figures as of 2026-08-14. Multiples use TTM (sum of last 4 quarters); shown as "—" when the denominator is zero or negative, or when fewer than four quarters are reported — a partial sum is not a trailing twelve months. Ownership & coverage per Yahoo Finance as of 2026-08-25 — institutional % is 13F-based, so it can lag a quarter and exceed 100% on share-count timing. Short interest per FINRA bi-monthly reporting, as of 2026-07-31; the float denominator can be unreliable on tiny floats.
Financial statements
| 6/30/26 | 3/31/26 | 12/31/25 | 9/30/25 | |
|---|---|---|---|---|
| Total Revenue | 3.54 | 4.03 | 3.85 | 3.10 |
| Revenue YoY % | 36.6% | 129.3% | 94.9% | 71.9% |
| Cost of Revenue | 0.64 | 0.52 | 0.58 | 0.60 |
| Gross Profit | 2.90 | 3.51 | 3.27 | 2.50 |
| Gross Profit YoY % | 35.5% | 171.8% | 262.4% | 130.4% |
| Gross Margin % | 81.8% | 87.2% | 85.0% | 80.7% |
| SG&A | 1.51 | 1.91 | 2.22 | 1.28 |
| R&D | 0.74 | 0.51 | 0.47 | 0.42 |
| Operating Expense | 2.26 | 2.46 | 2.70 | 1.70 |
| Operating Income | 0.64 | 1.06 | 0.57 | 0.80 |
| Operating Income YoY % | (67.6%) | 1233.6% | 186.9% | 141.4% |
| Operating Margin % | 18.0% | 26.2% | 14.9% | 25.8% |
| EBITDA | 0.88 | 1.23 | 0.90 | 1.09 |
| EBITDA Margin % | 24.7% | 30.6% | 23.4% | 35.1% |
| Interest Expense | 0.02 | 0.00 | (0.00) | 0.00 |
| Pretax Income | 0.24 | 0.95 | 0.82 | 0.77 |
| Net Income | 0.24 | 0.95 | 0.82 | 0.77 |
| Net Income to Common | 0.40 | 0.32 | 0.84 | 0.79 |
| Net Margin % | 6.9% | 23.6% | 21.2% | 24.8% |
| Diluted EPS | $0.08 | $0.06 | $0.11 | $0.14 |
| Basic EPS | $0.08 | $0.06 | $0.11 | $0.14 |
| Diluted Avg Shares | 5.3 | 5.5 | — | 5.5 |
| Basic Avg Shares | 4.8 | 5.5 | — | 5.5 |
| LTM | 12/31/25 | 12/31/24 | 12/31/23 | 12/31/22 | |
|---|---|---|---|---|---|
| Total Revenue | 14.52 | 11.30 | 8.69 | 6.91 | 10.32 |
| Revenue YoY % | 28.5% | 30.0% | 25.7% | (33.1%) | — |
| Cost of Revenue | 2.33 | 2.09 | 3.23 | 3.62 | 4.96 |
| Gross Profit | 12.18 | 9.20 | 5.46 | 3.29 | 5.36 |
| Gross Profit YoY % | 32.4% | 68.5% | 66.1% | (38.7%) | — |
| Gross Margin % | 83.9% | 81.5% | 62.9% | 47.6% | 52.0% |
| SG&A | 6.92 | 5.76 | 7.62 | 11.06 | 19.94 |
| R&D | 2.14 | 1.76 | 3.38 | 7.24 | 10.42 |
| Operating Expense | 9.12 | 5.96 | 7.21 | 19.66 | 40.39 |
| Operating Income | 3.07 | 3.25 | (1.75) | (16.37) | (35.03) |
| Operating Income YoY % | (5.5%) | 285.7% | 89.3% | 53.3% | — |
| Operating Margin % | 21.1% | 28.8% | (20.1%) | (236.9%) | (339.3%) |
| EBITDA | 4.10 | 4.37 | 0.84 | (14.26) | (32.96) |
| EBITDA Margin % | 28.2% | 38.7% | 9.7% | (206.3%) | (319.3%) |
| Interest Expense | 0.02 | 0.02 | 0.12 | 0.77 | 1.15 |
| Other Income / (Expense) | — | 3.37 | (1.18) | 2.82 | (0.67) |
| Pretax Income | 2.78 | 6.60 | (3.05) | (14.32) | (36.84) |
| Tax Provision | — | (0.25) | — | — | — |
| Net Income | 2.78 | 6.84 | (3.05) | (14.32) | (36.84) |
| Net Income to Common | 2.35 | 6.93 | (2.75) | (14.32) | (35.99) |
| Net Margin % | 19.1% | 60.6% | (35.1%) | (207.3%) | (356.8%) |
| Diluted EPS | $0.39 | $1.43 | -$0.94 | -$5.56 | -$30.73 |
| Basic EPS | $0.39 | $1.43 | -$0.94 | -$5.56 | -$30.73 |
| Diluted Avg Shares | 5.3 | 4.8 | 2.9 | 2.6 | 1.2 |
| Basic Avg Shares | 4.8 | 4.8 | 2.9 | 2.6 | 1.2 |
| 6/30/26 | 3/31/26 | 12/31/25 | 9/30/25 | |
|---|---|---|---|---|
| Cash & Equivalents | 3.95 | 5.86 | 4.99 | 4.13 |
| Other Current Assets | 2.45 | 3.21 | 2.59 | 2.21 |
| Total Current Assets | 6.39 | 9.06 | 7.59 | 6.34 |
| Net PPE | 0.05 | 0.05 | 0.03 | 0.03 |
| Operating Lease ROU | 0.01 | 0.01 | 0.02 | 0.03 |
| Intangible Assets | 4.27 | 4.13 | 3.77 | 3.69 |
| Other Assets | 0.60 | 0.62 | 0.55 | — |
| Total Assets | 11.32 | 13.88 | 11.97 | 10.10 |
| Accounts Payable | 0.66 | 1.18 | 0.92 | 0.97 |
| Current Lease Liabilities | — | 0.01 | 0.02 | 0.03 |
| Other Current Liabilities | 2.79 | 2.72 | 2.43 | 2.30 |
| Total Current Liabilities | 3.45 | 3.91 | 3.37 | 3.30 |
| Other Liabilities | 2.62 | 1.41 | 1.02 | — |
| Total Liabilities | 6.08 | 5.32 | 4.39 | 3.31 |
| Retained Earnings | (84.62) | (84.55) | (85.34) | (85.70) |
| Total Equity | 5.24 | 8.56 | 7.58 | 6.79 |
| LTM | 12/31/25 | 12/31/24 | 12/31/23 | 12/31/22 | |
|---|---|---|---|---|---|
| Cash & Equivalents | 3.95 | 4.99 | 0.86 | 1.68 | 0.98 |
| Other Current Assets | 2.45 | 2.59 | 1.94 | 1.84 | 3.06 |
| Total Current Assets | 6.39 | 7.59 | 2.80 | 3.52 | 4.04 |
| Net PPE | 0.05 | 0.03 | 0.06 | 0.25 | 0.52 |
| Operating Lease ROU | 0.01 | 0.02 | 0.05 | 0.20 | 0.97 |
| Intangible Assets | 4.27 | 3.77 | 3.37 | 5.80 | 13.36 |
| Other Assets | 0.60 | 0.55 | — | — | — |
| Total Assets | 11.32 | 11.97 | 6.27 | 9.76 | 18.90 |
| Accounts Payable | 0.66 | 0.92 | 2.98 | 0.81 | 2.37 |
| Current Lease Liabilities | — | 0.02 | 0.03 | 0.15 | 0.38 |
| Other Current Liabilities | 2.79 | 2.43 | 2.01 | 6.63 | 10.57 |
| Total Current Liabilities | 3.45 | 3.37 | 5.02 | 7.59 | 13.32 |
| Long-term Lease Liabilities | — | — | 0.02 | 0.05 | 0.62 |
| Other Liabilities | 2.62 | 1.02 | — | — | 3.06 |
| Total Liabilities | 6.08 | 4.39 | 5.04 | 7.67 | 16.99 |
| Retained Earnings | (84.62) | (85.34) | (91.79) | (89.04) | (73.98) |
| Total Equity | 5.24 | 7.58 | 1.23 | 2.09 | 1.90 |
| 6/30/26 | 3/31/26 | 12/31/25 | 9/30/25 | |
|---|---|---|---|---|
| Net Income | 0.24 | 0.95 | 0.82 | 0.77 |
| D&A | 0.24 | 0.18 | 0.33 | 0.29 |
| Stock-Based Comp | 0.04 | 0.38 | — | — |
| Δ Working Cap & Other | 0.60 | 0.15 | 0.60 | 0.67 |
| Operating Cash Flow | 1.12 | 1.65 | 1.74 | 1.72 |
| CapEx | (0.01) | (0.02) | (0.01) | — |
| Other Investing | — | (0.63) | — | — |
| Investing Cash Flow | (0.39) | (0.65) | (0.45) | (0.31) |
| Stock Issuance | — | — | 2.45 | 0.00 |
| Other Financing | (2.66) | — | (2.89) | — |
| Financing Cash Flow | (2.66) | (0.06) | (0.44) | 0.18 |
| Free Cash Flow | 1.11 | 1.63 | 1.73 | — |
| LTM | 12/31/25 | 12/31/24 | 12/31/23 | 12/31/22 | |
|---|---|---|---|---|---|
| Net Income | 2.78 | 6.84 | (3.05) | (14.32) | (36.84) |
| D&A | 1.03 | 1.12 | 2.59 | 2.12 | 2.06 |
| Stock-Based Comp | — | 0.79 | 0.15 | 0.96 | 0.71 |
| Δ Working Cap & Other | 2.43 | (4.68) | (2.53) | (2.40) | 14.54 |
| Operating Cash Flow | 6.24 | 4.07 | (2.84) | (13.65) | (19.52) |
| CapEx | — | (0.01) | (0.03) | (0.03) | (0.29) |
| Other Investing | (1.79) | (1.11) | 1.21 | 4.24 | — |
| Investing Cash Flow | (1.79) | (1.12) | 1.18 | 4.21 | (0.29) |
| Stock Issuance | — | 2.35 | 0.88 | 0.64 | 0.04 |
| Other Financing | (2.98) | (1.29) | — | 9.29 | 1.67 |
| Financing Cash Flow | (2.98) | 1.06 | 0.83 | 9.94 | 1.71 |
| Free Cash Flow | — | 4.06 | (2.86) | (13.68) | (19.81) |
| 6/30/26 | 3/31/26 | 12/31/25 | 9/30/25 | |
|---|---|---|---|---|
| Current Ratio | 1.85 | 2.32 | 2.25 | 1.92 |
| Quick Ratio | — | — | — | — |
| Debt / Equity | — | — | — | — |
| EBITDA Margin % | 24.7% | 30.6% | 23.4% | 35.1% |
| Working Capital | 2.94 | 5.16 | 4.22 | 3.05 |
| Net Debt | — | — | — | — |
| ROE % | 4.6% | 11.1% | 10.8% | 11.3% |
| ROA % | 2.1% | 6.9% | 6.8% | 7.6% |
| LTM | 12/31/25 | 12/31/24 | 12/31/23 | 12/31/22 | |
|---|---|---|---|---|---|
| Current Ratio | 1.85 | 2.25 | 0.56 | 0.46 | 0.30 |
| Quick Ratio | — | — | — | — | — |
| Debt / Equity | — | — | — | — | — |
| EBITDA Margin % | 28.2% | 38.7% | 9.7% | (206.3%) | (319.3%) |
| Working Capital | 2.94 | 4.22 | (2.23) | (4.07) | (9.28) |
| Net Debt | — | — | — | — | — |
| ROE % | 53.0% | 90.3% | (248.6%) | (685.4%) | (1935.5%) |
| ROA % | 24.5% | 57.2% | (48.6%) | (146.8%) | (194.9%) |
Insider activity (last 2 years)
| Date Filed | Reporter | Relationship | Trans. Date | Code | Shares | Price | Total Value |
|---|---|---|---|---|---|---|---|
| 2026-08-24 | Red Oak Partners, LLC | 10% Owner | 2026-08-21 | P | 3,410 | $3.67 | $12,511 |
| 2026-08-24 | Red Oak Partners, LLC | 10% Owner | 2026-08-21 | P | 1,802 | $3.67 | $6,612 |
| 2026-08-24 | Red Oak Partners, LLC | 10% Owner | 2026-08-20 | P | 17,949 | $3.86 | $69,319 |
| 2026-08-24 | Red Oak Partners, LLC | 10% Owner | 2026-08-20 | P | 5,194 | $3.86 | $20,059 |
| 2026-08-19 | Red Oak Partners, LLC | 10% Owner | 2026-08-18 | P | 12,815 | $4.00 | $51,234 |
| 2026-08-19 | Red Oak Partners, LLC | 10% Owner | 2026-08-18 | P | 6,894 | $4.00 | $27,562 |
| 2026-08-19 | Red Oak Partners, LLC | 10% Owner | 2026-08-17 | P | 6,765 | $3.87 | $26,147 |
| 2026-08-19 | Red Oak Partners, LLC | 10% Owner | 2026-08-17 | P | 3,639 | $3.87 | $14,065 |
| 2026-08-03 | Sunner Navtej Singh | Director | 2026-07-30 | A | 69,567 | — | $0 |
| 2026-08-03 | Delta John | Director | 2026-07-30 | A | 62,458 | — | $0 |
| 2026-08-03 | Jacobson Andrew P. | Director | 2026-07-30 | A | 77,246 | — | $0 |
| 2026-08-03 | HOOD STEPHEN | Director, Officer (Chief Executive Officer) | 2026-07-30 | A | 100,000 | — | $0 |
| 2026-08-03 | Hansen-Chambers Peter | Officer (Chief Financial Officer) | 2026-07-30 | A | 12,500 | — | $0 |
| 2026-08-03 | Hansen-Chambers Peter | Officer (Chief Financial Officer) | 2026-07-30 | A | 12,500 | — | $0 |
| 2026-08-03 | Huang Guoquan | Director | 2026-07-30 | A | 64,663 | — | $0 |
| 2026-08-03 | Beckley Stanley | Officer (Chief Accounting Officer) | 2026-07-30 | A | 25,000 | — | $0 |
| 2026-07-06 | Red Oak Partners, LLC | 10% Owner | 2026-07-02 | P | 8,208 | $4.14 | $33,989 |
| 2026-07-06 | Red Oak Partners, LLC | 10% Owner | 2026-07-02 | P | 4,529 | $4.14 | $18,755 |
| 2026-07-06 | Red Oak Partners, LLC | 10% Owner | 2026-07-01 | P | 2,062 | $4.07 | $8,392 |
| 2026-07-06 | Red Oak Partners, LLC | 10% Owner | 2026-07-01 | P | 1,138 | $4.07 | $4,632 |
| 2026-07-02 | Red Oak Partners, LLC | 10% Owner | 2026-06-30 | P | 17,879 | $3.95 | $70,676 |
| 2026-07-02 | Red Oak Partners, LLC | 10% Owner | 2026-06-30 | P | 9,865 | $3.95 | $38,996 |
| 2026-04-27 | ZOI MIKE | 10% Owner | 2026-04-23 | S | (904,395) | $4.11 | -$3,717,063 |
| 2026-03-12 | ZOI MIKE | 10% Owner | 2026-03-10 | S | (31,131) | $4.51 | -$140,401 |
| 2026-03-09 | ZOI MIKE | 10% Owner | 2026-03-09 | S | (24,720) | $4.84 | -$119,645 |
| 2026-03-09 | ZOI MIKE | 10% Owner | 2026-03-06 | S | (29,224) | $4.70 | -$137,353 |
| 2026-03-09 | ZOI MIKE | 10% Owner | 2026-03-05 | S | (90,900) | $4.49 | -$408,141 |
| 2026-03-04 | ZOI MIKE | 10% Owner | 2026-03-04 | S | (40,535) | $4.03 | -$163,356 |
| 2026-03-04 | ZOI MIKE | 10% Owner | 2026-03-03 | S | (11,675) | $3.77 | -$44,015 |
| 2026-03-04 | ZOI MIKE | 10% Owner | 2026-03-02 | S | (6,500) | $3.74 | -$24,310 |
| 2026-02-27 | ZOI MIKE | 10% Owner | 2026-02-27 | S | (9,603) | $3.71 | -$35,627 |
| 2026-02-27 | ZOI MIKE | 10% Owner | 2026-02-26 | S | (5,059) | $3.52 | -$17,808 |
| 2026-02-27 | ZOI MIKE | 10% Owner | 2026-02-25 | S | (9,362) | $3.58 | -$33,516 |
| 2026-02-25 | ZOI MIKE | 10% Owner | 2026-02-24 | S | (8,960) | $3.62 | -$32,435 |
| 2026-02-25 | ZOI MIKE | 10% Owner | 2026-02-23 | S | (48,909) | $3.59 | -$175,583 |
| 2026-02-25 | ZOI MIKE | 10% Owner | 2026-02-20 | S | (4,959) | $3.29 | -$16,315 |
| 2025-12-12 | Delta John | Director | 2025-12-12 | P | 4,000 | $2.59 | $10,360 |
| 2025-12-12 | Delta John | Director | 2025-12-11 | P | 1,000 | $2.66 | $2,660 |
| 2025-08-21 | Delta John | Director | 2025-08-20 | P | 3,500 | $2.91 | $10,188 |
| 2025-08-21 | Delta John | Director | 2025-08-19 | P | 3,500 | $2.93 | $10,238 |