Latest news with #StephenHood
Metro
11 hours ago
- Automotive
- Metro
Le Mans Ultimate review - the real endurance driving simulator
This new officially licensed World Endurance Championship game is a technical marvel but it's definitely not an arcade racer. Of all the world's most prestigious motor racing series – namely, those run by motorsports governing body the FIA – the World Endurance Championship is probably the most hardcore. The clue is in the word 'endurance' – WEC races are long and brutal, with various classes of cars, each shared by several drivers, and then there's the jewel in the series' crown: the legendary 24 Hours of Le Mans. The long-form nature of endurance racing has meant that in the past, few have attempted to translate the format into video games. But now we have an officially licensed WEC game, in the form of Le Mans Ultimate. It's been developed by Netherlands-based Studio 397, best known for the racing sim rFactor 2, whose parent company, Motorsport Games, is run by Stephen Hood – who helmed Codemasters' Formula One games between 2009 and 2014. There's plenty of motorsports pedigree at work here, but beyond the official licences, Le Mans Ultimate and F1 25 come from very different ends of the motorsport gaming spectrum. Whereas the latter attempts to appeal to all F1 fans, regardless of driving talent, Le Mans Ultimate is a racing simulator, squarely targeted at hardcore petrolheads. For starters, Le Mans Ultimate is PC-only (although Studio 397 and Motorsport Games are thought to be working on console versions). Although it does support conventional gamepads, as well as home rigs with steering wheels and pedals, it forces you to use a mouse to scroll through its menus – gamepad control only kicks in when you've told the game to exit from the pits. Format-wise, Le Mans Ultimate's single-player element is about as simple as you can get: a series of race weekends consisting of three sessions – practice, qualifying and the race – for which you must choose your circuit and your car. At this point, it's important to bear in mind that the game has been in early access for the best part of a year, during which period the developer has been adding a constant drip-feed of cars and tracks. So while it has a relatively small amount of tracks, many of the world's best are included. There's Le Mans, of course, but also Spa, Imola, Fuji, Interlagos, Bahrain, Qatar, and Austin. Silverstone is in the works and at some stage in the future a simulation of the whole European Le Mans Series will be added to the game as an alternative and very welcome single-player option. Sign up to the GameCentral newsletter for a unique take on the week in gaming, alongside the latest reviews and more. Delivered to your inbox every Saturday morning. The choice of cars is pretty strong too, with LMH Hypercars from eight different manufacturers, including Aston Martin, Porsche, Chevrolet, Lamborghini, Ferrari, BMW, and Alpine – so that's nine GT3-class manufacturers represented. Or you can opt to drive a 2024 spec Oreca 07 LMP2-class car. There are various different livery options aping the real-life teams and Le Mans Ultimate also has an editor allowing you to design their own liveries. Jump into a race weekend and you're given by default an hour for practice, 20 minutes for qualifying, and an hour for the race, although you can tweak those times if you want. They do to an extent reflect the real races, however, without forcing you to spend more than an hour contesting the actual racing. It's on the track where Le Mans Ultimate really shines. The courses have been laser-scanned and possess the ring of absolute authenticity. The cars' sound and, most importantly, feel are utterly convincing, to the extent that we could hear a squeak emitted by the brakes of the Aston Martin Hypercar we initially chose. A lot of technology has gone into modelling Le Mans Ultimate's cars, so, for example, you have to work hard to warm up your car's tyres before full grip kicks in, and grip drops off markedly once those tyres age. Even the GT3 cars – supposedly based on road cars, albeit impossibly exotic ones – are thrilling beasts to drive, and being able to race the LMH Hypercars is a real treat. The default cockpit view is great, too, with clever representations of wing-mirrors and the like (Le Mans Ultimate supports VR setups too, should you have a headset) and warnings when you have cars either side of you, which tends to happen a lot in endurance racing. Le Mans Ultimate does make some concessions to those whose driving talents are not the greatest: you can add racing lines to the circuits along a number of assists, including traction control. But beyond that it's pretty uncompromising. Transgress slightly during a race and you will be black-flagged (annoyingly, the terse radio communications with the pits only really give you your lap-times, so we were black-flagged a few times without knowing why). Race starts are initially tricky, since they involve assembling behind the safety car, which requires precision while you attempt to generate some tyre-warmth. But while the single-player game is superb (assuming you're a motor racing fanatic) it very much feels like a preparation for going online, which is where Le Mans Ultimate's real focus lies. There, you can jump into races, matched with drivers of similar ability. Or – and this is an innovation for a racing game, but given the multi-driver format of endurance racing also a necessity – you can take part in asynchronous co-operative races, where you race one stint, then hand over your car to someone else. More Trending Studio 397 and Motorsport Games are working up to enabling full simulations of the 24 Hours of Le Mans using that format, but it is as yet unclear when that will arrive in the game, whose current focus is squarely fixed on esports territory. Certain aspects of Le Mans Ultimate have a work-in-progress feel – the rather amorphous single-player game and terse in-car communications among them – but all the aspects that matter most in a simulation, especially the car feel and authenticity of the circuits, are very impressive. Le Mans Ultimate is not a mainstream racing game like F1 25, but instead a rigorous simulator of one of the world's most popular motor racing experiences. If you're a big enough fan of racing games that you have a home rig with steering wheel, pedals, and a big screen this is very much built for you. But if you're a casual racing fan with a lesser set-up, the chances are that you'll find it a tad intimidating. However, even for a simulator, it is a technical marvel. In Short: A thrillingly uncompromising racing simulator, that is easily the best endurance racer of the modern era, even if it's got a way to go before it's feature complete. Pros: Extremely authentic tracks, incredible car-feel, and a real stamp of authenticity. Decent selection of cars and tracks and innovative asynchronous co-op mode. Cons: Amorphous single-player element. Feels like a work-in-progress in some areas, especially menu navigation and the terse radio communications. Score: 7/10 Formats: PCPrice: £28.99Publisher: Motorsport GamesDeveloper: Studio 397Release Date: 22nd July 2025 Age Rating: N/A Email gamecentral@ leave a comment below, follow us on Twitter. To submit Inbox letters and Reader's Features more easily, without the need to send an email, just use our Submit Stuff page here. For more stories like this, check our Gaming page. 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Yahoo
12-05-2025
- Automotive
- Yahoo
Motorsport Games Inc (MSGM) Q1 2025 Earnings Call Highlights: Navigating Financial Challenges ...
Release Date: May 09, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Motorsport Games Inc (NASDAQ:MSGM) received a $2.5 million investment from virtual reality headset manufacturers Pymax, providing significant financial support. Net revenues from the Le Mans Ultimate Racing title increased by $0.4 million in Q1 2025 compared to the same period in the prior year. The company reported an improvement in net income, achieving a net income of $1.0 billion compared to a net loss of $1.7 million in the prior year. Motorsport Games Inc (NASDAQ:MSGM) has improved cash flow from operations, generating an average positive cash flow of approximately $0.1 million per month. The company is exploring new opportunities, including bringing the Le Mans Ultimate game to PlayStation and Xbox consoles, which could expand its audience. Total revenues for Q1 2025 were down by 41.9% compared to the same period in the prior year, primarily due to a decrease in NASCAR-related revenues. The company is no longer authorized to sell NASCAR-related gaming titles starting in 2025, impacting revenue streams. Despite improvements, Motorsport Games Inc (NASDAQ:MSGM) expects to have a net cash outflow from operations for the foreseeable future as it continues to develop its product portfolio. The company is exploring additional funding options to address liquidity shortfalls, indicating ongoing financial challenges. There is a decrease in revenues from the rFactor 2 title by $0.2 million, contributing to the overall revenue decline. Warning! GuruFocus has detected 5 Warning Signs with MSGM. Q: Can you provide more details on the recent $2.5 million investment and its impact on the company? A: Stephen Hood, CEO: The investment was led by virtual reality headset manufacturers Pymax and has provided significant additional breathing room for our business. It has allowed us to further develop our products and assess future potential. This investment has also increased market confidence, with shares trading more than 2.5 times higher than before the announcement. Q: What are the key financial results for Q1 2025? A: Stanley Beckley, CFO: Revenues for the quarter were $1.8 million, down 41.9% from the prior year, primarily due to a decrease in NASCAR-related revenues. However, net income improved to $1.0 million compared to a net loss of $1.7 million in the prior year, driven by reduced operating expenses and other operating income. Q: How is the Le Mans Ultimate Racing title performing? A: Stephen Hood, CEO: Net revenues from the Le Mans Ultimate Racing title were $0.4 million higher in Q1 2025 compared to the same period last year, despite Q1 2024 being the release quarter. This is a positive result, and we plan to release future updates, including team and driver swap functionality, which will enhance the gaming experience. Q: What are the company's plans for expanding the Le Mans Ultimate audience? A: Stephen Hood, CEO: We expect the game to move from early access to a full release this year, unlocking new sales and marketing tactics. We are also exploring console opportunities to bring Le Mans Ultimate to PlayStation and Xbox, with discussions underway with potential collaborators. Q: How is the company's liquidity position? A: Stanley Beckley, CFO: As of March 31, 2025, we had cash and cash equivalents of $1.1 million, which increased to $3.1 million by April 30, 2025, due to net proceeds from a private placement. We continue to explore options to address liquidity shortfalls, including potential equity and debt financing arrangements. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Yahoo
12-05-2025
- Automotive
- Yahoo
Motorsport Games Inc (MSGM) Q1 2025 Earnings Call Highlights: Navigating Financial Challenges ...
Release Date: May 09, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Motorsport Games Inc (NASDAQ:MSGM) received a $2.5 million investment from virtual reality headset manufacturers Pymax, providing significant financial support. Net revenues from the Le Mans Ultimate Racing title increased by $0.4 million in Q1 2025 compared to the same period in the prior year. The company reported an improvement in net income, achieving a net income of $1.0 billion compared to a net loss of $1.7 million in the prior year. Motorsport Games Inc (NASDAQ:MSGM) has improved cash flow from operations, generating an average positive cash flow of approximately $0.1 million per month. The company is exploring new opportunities, including bringing the Le Mans Ultimate game to PlayStation and Xbox consoles, which could expand its audience. Total revenues for Q1 2025 were down by 41.9% compared to the same period in the prior year, primarily due to a decrease in NASCAR-related revenues. The company is no longer authorized to sell NASCAR-related gaming titles starting in 2025, impacting revenue streams. Despite improvements, Motorsport Games Inc (NASDAQ:MSGM) expects to have a net cash outflow from operations for the foreseeable future as it continues to develop its product portfolio. The company is exploring additional funding options to address liquidity shortfalls, indicating ongoing financial challenges. There is a decrease in revenues from the rFactor 2 title by $0.2 million, contributing to the overall revenue decline. Warning! GuruFocus has detected 5 Warning Signs with MSGM. Q: Can you provide more details on the recent $2.5 million investment and its impact on the company? A: Stephen Hood, CEO: The investment was led by virtual reality headset manufacturers Pymax and has provided significant additional breathing room for our business. It has allowed us to further develop our products and assess future potential. This investment has also increased market confidence, with shares trading more than 2.5 times higher than before the announcement. Q: What are the key financial results for Q1 2025? A: Stanley Beckley, CFO: Revenues for the quarter were $1.8 million, down 41.9% from the prior year, primarily due to a decrease in NASCAR-related revenues. However, net income improved to $1.0 million compared to a net loss of $1.7 million in the prior year, driven by reduced operating expenses and other operating income. Q: How is the Le Mans Ultimate Racing title performing? A: Stephen Hood, CEO: Net revenues from the Le Mans Ultimate Racing title were $0.4 million higher in Q1 2025 compared to the same period last year, despite Q1 2024 being the release quarter. This is a positive result, and we plan to release future updates, including team and driver swap functionality, which will enhance the gaming experience. Q: What are the company's plans for expanding the Le Mans Ultimate audience? A: Stephen Hood, CEO: We expect the game to move from early access to a full release this year, unlocking new sales and marketing tactics. We are also exploring console opportunities to bring Le Mans Ultimate to PlayStation and Xbox, with discussions underway with potential collaborators. Q: How is the company's liquidity position? A: Stanley Beckley, CFO: As of March 31, 2025, we had cash and cash equivalents of $1.1 million, which increased to $3.1 million by April 30, 2025, due to net proceeds from a private placement. We continue to explore options to address liquidity shortfalls, including potential equity and debt financing arrangements. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Yahoo
18-04-2025
- Automotive
- Yahoo
Motorsport Games Stock Jumps 146% After $2.5 Million Investment Led by Pimax
Motorsport Games (MSGM, Financials) shares surged 145.5% to close at $2.75 on April 17 at 5:08 p.m. ET, before falling 4.39% to $2.63 in after-hours trading, following the company's announcement that it raised approximately $2.5 million through a private placement led by virtual reality company Pimax, according to a statement from Motorsport Games. Warning! GuruFocus has detected 4 Warning Signs with MSGM. The company, which develops racing simulation games including Le Mans Ultimate, entered into a definitive agreement on April 11 with institutional and accredited investors, including an affiliate of Pimax Innovation Inc., to issue nearly 1.9 million shares of Class A common stock and a pre-funded warrant to purchase up to about 378,000 additional shares. The shares were priced at $1.10 each, while the pre-funded warrants carried an exercise price of $0.0001 per share. Motorsport Games said the offering represented a 33% premium over its April 10 closing price. The company closed on $2.4 million of the transaction on April 11, with an additional $100,000 expected to close on April 15. The proceeds are intended to bolster working capital, fund corporate expenses, accelerate product development, and help the company regain compliance with the Nasdaq Capital Market's minimum stockholders' equity requirement. As part of the agreement, investors who purchased at least 50.1% of the securities will have the right to appoint a Class II director to Motorsport Games' board, with a term ending at the 2026 annual meeting. They will also have the right to appoint an individual to the management team, subject to board approval. Motorsport Games Chief Executive Officer Stephen Hood said in the statement that the investment, made at a premium, could boost shareholder confidence. He added that synergies with Pimax could improve the virtual reality offerings of Motorsport Games' racing titles. Pimax Founder and Chairman Robin Weng said sim racing players are a vital part of the company's community and that Pimax plans to deepen its focus on immersive virtual reality experiences for this user base. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
21-03-2025
- Business
- Yahoo
Motorsport Games Inc (MSGM) Q4 2024 Earnings Call Highlights: Revenue Growth Amidst Financial ...
Revenue (Q4 2024): $2.0 million, up 13% from the same period in the prior year. Net Loss (Q4 2024): $2.9 million, compared to net income of $2.7 million in the prior year. Adjusted EBITDA Loss (Q4 2024): $2.5 million, compared to an adjusted EBITDA of $0.4 million in the prior year. Full Year Revenue (2024): $8.7 million, up $1.8 million from the prior year. Full Year Net Loss (2024): $3.0 million, compared to $14.3 million in 2023. Adjusted EBITDA Loss (2024): $3.9 million, improved from $9.3 million in 2023. Net Cash Used in Operations (2024): Approximately $3.2 million, with an average monthly net cash burn of $0.3 million. Cash and Cash Equivalents (Dec 31, 2024): $0.9 million, increased to $1.2 million by February 28, 2025. Subscription Service Revenue (First 21 Days): Over $120,000 in gross revenues. Active Subscribers: Nearly 6,000 as of the latest update. Warning! GuruFocus has detected 3 Warning Signs with MSGM. Release Date: March 20, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Le Mans Ultimate launched with strong potential and received positive feedback from consumers and industry influencers. Significant update to Le Mans Ultimate in December led to a surge in player numbers and positive reception. Organic growth achieved without investment in paid marketing, demonstrating strong word-of-mouth influence. Introduction of a subscription service via generated over $120,000 in gross revenues in the first 21 days. Settlement with Luminous improved financial position by $180,000 and resolved a long-standing issue. Net loss for the fourth quarter of 2024 was $2.9 million, a significant decrease compared to the prior year's net income. Adjusted EBITDA loss for the fourth quarter of 2024 was $2.5 million, compared to a positive adjusted EBITDA in the prior year. Cash position remains a concern with only $1.2 million as of February 28, 2025, insufficient to fund operations over the next year. Exploration of additional funding options indicates ongoing liquidity challenges. Net cash used in operations for 2024 was approximately $3.2 million, highlighting continued financial strain. Q: Can you provide an update on the financial performance for the fourth quarter and full year 2024? A: Stanley Beckley, Chief Financial Officer, reported that revenues for the fourth quarter were $2.0 million, a 13% increase compared to the same period last year, driven by higher digital game sales from the release of Le Mans Ultimate. However, the net loss for the quarter was $2.9 million, compared to a net income of $2.7 million in the prior year, primarily due to increased other expenses and the absence of a $3.0 million gain from a NASCAR license sale in 2023. Q: How has the launch of Le Mans Ultimate impacted the company's performance? A: Stephen Hood, Chief Executive Officer, highlighted that Le Mans Ultimate has been positively received, with significant updates leading to increased player numbers and sales. The game has gained traction without paid marketing, relying on organic word of mouth. This success has improved the company's financial health and opened new opportunities for partnerships and potential console ports. Q: What are the company's plans for future growth and development? A: Stephen Hood mentioned that Motorsport Games is exploring strategic alternatives, including potential equity and debt financing, as well as the sale or licensing of assets. The company is also focused on expanding its subscription service and exploring console ports for Le Mans Ultimate, driven by strong player demand. Q: Can you elaborate on the company's liquidity position and cash flow management? A: Stanley Beckley stated that as of December 31, 2024, the company had $0.9 million in cash, which increased to $1.2 million by February 28, 2025. Despite a reduced average monthly cash burn, additional funding will be required to sustain operations over the next year. The company is actively exploring funding options to address this liquidity shortfall. Q: What strategic initiatives have been implemented to improve the company's financial position? A: Stephen Hood noted that the company has undertaken cost reductions and restructuring initiatives, including headcount reductions and strategic licensing deals. Additionally, the recent settlement with Luminous and a favorable legal ruling have improved the financial position, reducing liabilities and enhancing stockholders' equity. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
