Allied Gaming & Entertainment Inc. (AGAE) reported its financial results for the full year ended December 31, 2024. The company announced total revenue of $9.08 million, an increase from $7.66 million in the prior year.
Despite the increase in revenue, AGAE reported a net loss of $16.76 million for the full year 2024, significantly wider than the $3.44 million net loss reported in 2023. Basic and diluted loss per share from continuing operations both stood at $0.42, compared to $0.09 in the previous year.
The substantial widening of the net loss indicates increased operational costs and other expenses impacting the company's profitability. This financial performance underscores the challenges AGAE faces in achieving sustainable profitability amidst its strategic initiatives and ongoing corporate governance issues.
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