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2023-11-14
2023-11-14
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) of the SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): November 14, 2023
Super League Enterprise, Inc.
(Exact name of registrant as specified in its charter)
|
Delaware
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001-38819
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47-1990734
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|
(State or other jurisdiction of
incorporation)
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(Commission File Number)
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(IRS Employer
Identification Number)
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2912 Colorado Avenue, Suite 203
Santa Monica, California 90404
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(Address of principal executive offices)
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(213) 421-1920
(Registrant’s telephone number, including area code)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c))
Securities registered pursuant to Section 12(b) of the Act:
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Title of each class
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Trading Symbol(s)
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Name of each exchange on which registered
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Common Stock, par value $0.001 per share
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SLE
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Nasdaq Capital Market
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Indicate by check mark whether the Registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On November 14, 2023, Super League Enterprise, Inc. (the “Company”) released its financial results for the fiscal quarter ended September 30, 2023 (the “Earnings Press Release”) and posted on its website a letter to shareholders of the Company (the “Letter to Shareholders”) from the Company's Chief Executive Officer, Ann Hand. The Letter to Shareholders discussed, among other matters, operating highlights, capital markets activity and financial results for the fiscal quarter ended September 30, 2023. Copies of the Earnings Press Release and the Letter to Shareholders are attached hereto as Exhibits 99.1 and 99.2, respectively.
Item 7.01 Regulation FD Disclosure.
See Item 2.02.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits Index
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Exhibit
No.
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Description
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99.1
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99.2
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104
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Cover Page Interactive Data Filed (embedded within the Inline XBRL document)
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Disclaimer.
The information in this Current Report on Form 8-K is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), nor shall the exhibits filed herewith be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
This Current Report on Form 8-K may contain, among other things, certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, (i) statements with respect to the Company's plans, objectives, expectations and intentions; and (ii) other statements identified by words such as "may", "could", "would", should", "believes", "expects", "anticipates", "estimates", "intends", "plans" or similar expressions. These statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties.
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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Super League Enterprise, Inc.
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Date: November 15, 2023
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By:
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/s/ Clayton Haynes
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Clayton Haynes
Chief Financial Officer
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Exhibit 99.1
Super League Announces Third Quarter 2023 Financial Results
~ Q3 2023 Highlighted by: Record Revenue Growth, New Roblox Partnership to Boost Marketing Strategy, and the Largest Deal in Company History ~
Santa Monica, Calif. – (November 14, 2023) – Super League (Nasdaq: SLGG), a global leader in providing immersive experiences across the world's largest digital social platforms, has released its third quarter 2023 financial results in the form of a shareholder letter. A webinar hosted by Ann Hand, CEO of Super League, and Clayton Haynes, CFO of Super League, will be streamed here beginning today Tuesday, November 14, 2023 at 5:00 PM Eastern Time to further discuss the results.
Management Commentary by Chief Executive Officer, Ann Hand:
“In the third quarter, we continued to validate the success of our business model and operational strategy, delivering record quarterly company revenues of $7.2 million, an increase of 60% year-over-year. Our partnership with Roblox Partner Programs has supercharged our brand into the digital social platform world which reaches over half a billion people while further solidifying Super League as strategists, innovators and product builders to connect brands to the next generation through immersive experiences and media. This augmented reach combined with our end-to-end solution is proving that we can take an increasingly greater share of advertisers’ wallets with our customers continuously coming back to work with us. Furthermore, as one of the most impactful examples that our business model is working, we recently landed the largest deal in our history, valued at nearly $4 million across multiple quarters.
Looking ahead to Q4, and on the heels of our largest deal ever, we already have line of sight on at least $9 million in revenues at the midpoint of the quarter. We remain confident in our operating strategy and the lucrative long-term opportunity in the space which is visible in our robust pipeline as we keep an eye towards achieving profitability in 2024.”
The webinar may also be accessed by dialing 877-407-0779 or 201-389-0914 (International). A replay of the webinar will be available on Super League’s investor relations website and can also be accessed here.
For any questions related to the Company’s third quarter 2023 financial results or shareholder letter, please contact SLE@mzgroup.us.
About Super League
Super League (Nasdaq: SLE) is a leading strategically-integrated publisher and creator of games and experiences across the world’s largest immersive digital platforms. From metaverse gaming powerhouses such as Roblox, Minecraft and Fortnite, to the most popular Web3 environments such as Sandbox and Decentraland, to bespoke worlds built using the most advanced 3D creation tools, Super League’s innovative solutions provide incomparable access to massive audiences who gather in immersive digital spaces to socialize, play, explore, collaborate, shop, learn and create. As a true end-to-end activation partner for dozens of global brands, Super League offers a complete range of development, distribution, monetization and optimization capabilities designed to engage users through dynamic, energized programs. As an originator of new experiences fueled by a network of top developers, a comprehensive set of proprietary creator tools and a future-forward team of creative professionals, Super League accelerates IP and audience success within the fastest growing sector of the media industry. For more, go to superleague.com.
Forward-Looking Statements
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995. Statements in this press release that are not strictly historical are “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements involve substantial risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied by such statements. Forward-looking statements in this communication include, among other things, statements about Super League’s growth and growth strategies, the ability to actualize the benefits of the acquisition of Melon, our possible or assumed business strategies, new products, potential market opportunities and our ability to secure adequate working capital. Risks and uncertainties include, among other things, our ability to implement our plans, forecasts and other expectations with respect to our business; our ability to realize the anticipated benefits of events that took place during and subsequent to the quarter ended September 30, 2023, including the possibility that the expected benefits, particularly from our acquisitions consummated in 2021 and 2023, will not be realized or will not be realized within the expected time period; unknown liabilities that may or may not be within our control; attracting new customers and maintaining and expanding our existing customer base; our ability to scale and update our platform to respond to customers’ needs and rapid technological change; increased competition in our market and our ability to compete effectively; and expansion of our operations and increased adoption of our platform internationally. Additional risks and uncertainties that could affect our financial condition and operating results will be included in the section titled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the year ended December 31, 2022 and other filings that we make from time to time with the Securities and Exchange Commission (the “SEC”) which, once filed, are available on the SEC’s website at www.sec.gov. In addition, any forward-looking statements contained in this communication are based on assumptions that we believe to be reasonable as of this date. Except as required by law, we assume no obligation to update these forward-looking statements, or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements
Information About Non-GAAP Financial Measures
As used herein, “GAAP” refers to accounting principles generally accepted in the United States of America. To supplement our financial statements included in our annual and quarterly reports filed with the SEC, which financial statements are prepared and presented in accordance with GAAP, this earnings release includes pro forma net loss, a financial measure that is considered a non-GAAP financial measure as defined in Rule 101 of Regulation G promulgated by the Securities and Exchange Commission. Generally, a non-GAAP financial measure is a numerical measure of a company’s historical or future performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with GAAP. The presentation of this non-GAAP financial information is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP.
Investor Relations Contact:
Shannon Devine/ Mark Schwalenberg
MZ North America
Main: 203-741-8811
SLE@mzgroup.us
Media Contact
Gillian Sheldon
gillian.sheldon@superleague.com
Exhibit 99.2
v3.23.3
Document And Entity Information
|
Nov. 14, 2023 |
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|
| Entity, Registrant Name |
Super League Enterprise, Inc.
|
| Document, Type |
8-K
|
| Document, Period End Date |
Nov. 14, 2023
|
| Entity, Incorporation, State or Country Code |
DE
|
| Entity, File Number |
001-38819
|
| Entity, Tax Identification Number |
47-1990734
|
| Entity, Address, Address Line One |
2912 Colorado Avenue, Suite 203
|
| Entity, Address, City or Town |
Santa Monica
|
| Entity, Address, State or Province |
CA
|
| Entity, Address, Postal Zip Code |
90404
|
| City Area Code |
213
|
| Local Phone Number |
421-1920
|
| Written Communications |
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| Soliciting Material |
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| Pre-commencement Tender Offer |
false
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| Title of 12(b) Security |
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| Trading Symbol |
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| Security Exchange Name |
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| Entity, Emerging Growth Company |
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