Allied Gaming & Entertainment, Inc. (AGAE) announced its financial results for the second quarter ended June 30, 2025, reporting total revenues of $1.9 million. This represents a 27% decrease compared to $2.6 million in the second quarter of 2024.
The decline in revenue was primarily attributable to a $1.0 million decrease in mobile gaming revenues, partially offset by a $0.2 million increase in in-person revenues from arena events. The company's net loss for Q2 2025 widened to $4.8 million, compared to a net loss of $3.9 million in the prior year period.
Total costs and expenses increased slightly to $8.0 million, driven by a $0.5 million increase in legal and professional fees incurred in connection with complaints filed by a dissident stockholder and a proxy contest. As of June 30, 2025, cash and short-term investments stood at $60.0 million, down from $71.5 million at December 31, 2024, indicating a reduction in liquidity.
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