Super League Enterprise, Inc. (SLE) creates and oversees a comprehensive digital ecosystem within the metaverse gaming sphere. This ecosystem encompasses various games, ...
Super League Enterprise, Inc. (SLE) is a publicly traded company headquartered in Santa Monica, California, founded in 2014 and known for developing and publishing interactive content and media experiences across immersive platforms. The company operates at the intersection of gaming, digital entertainment, and brand advertising, focusing on “playable media” and ...Super League Enterprise, Inc. (SLE) is a publicly traded company headquartered in Santa Monica, California, founded in 2014 and known for developing and publishing interactive content and media experiences across immersive platforms. The company operates at the intersection of gaming, digital entertainment, and brand advertising, focusing on “playable media” and community-driven experiences where audiences can both watch and participate.
From a business perspective, Super League’s core positioning centers on helping brands engage consumers more effectively by turning attention into interaction. It provides a digital ecosystem that includes games and related tools, content channels, and an advertising/monetization layer designed for engagement within metaverse-adjacent gaming environments. Its proprietary platform integrates audience access, in-game community experiences, and specialized ad technology aimed at brands and advertisers seeking measurable marketing outcomes.
In terms of products and services, Super League offers a combination of (1) playable and interactive game experiences, (2) monetization tooling and capabilities that support revenue generation for the ecosystem, (3) content distribution through a network of channels and original programming across major social and live-streaming platforms (e.g., Instagram, TikTok, Snapchat, YouTube, and Twitch), and (4) cloud-based livestream production tools along with esports-related programming and events such as an invitational tournament series. These offerings collectively support multiple “entry points” for audiences: gamers can play, viewers can watch gameplay content, and brands can run campaigns and seek insights derived from engagement.
On costs and business operations, the company’s operating model typically requires investment in platform development (software and infrastructure), content production and creator/community relationships, and go-to-market/advertising partnerships. While specific cost breakdowns are not provided here, companies in this category generally carry ongoing expenses tied to engineering, content operations, and platform/creator tooling.
Financially, like many growth-oriented media and platform businesses, Super League’s results can be influenced by platform investment cycles and the performance of monetization and advertising demand. Investors also track liquidity, working capital, and cash flow dynamics closely, given the capital requirements of maintaining and expanding a digital content and technology ecosystem.
Key people include Matthew Evan Edelman, who serves as President, CEO, and Chairman. The company operates with a relatively lean headcount for a public platform/media business (reported full-time employees in the low 30s), which typically suggests a strategy focused on leveraging scalable technology and a distributed creator/content model.
Overall, Super League’s “wish” or strategic direction, as implied by its product framing, is to be a defining playable-media and metaverse gaming engagement partner—enabling brands to connect through interactive content, helping creators and developers reach audiences, and entertaining fans through both games and multi-platform media experiences.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$11.3M
-29.9%
+0.2%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$-20.7M
-24.5%
-8.4%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+21.3%
-43.5%
+130.8%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
-114.5%
-10.6%
+12.5%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
-182.7%
-77.7%
-8.2%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$-10.6M
+11.3%
+14.0%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
-93.4%
-26.6%
+14.1%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
0.0%
-100.0%
—
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
4.36x
+699.9%
-39.7%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Greetings, and welcome to Super League's Second Quarter 2026 Conference Call. Please note, this conference is being recorded. Before we begin, I'd like to caution listeners that comments made by management during this call may include forward-looking statements within the meaning of applicable securities laws. These statements involve material risks and uncertainties, and actual results could differ from those projected in any forward-looking statements due to numerous factors. For a description of these factors -- for a description of these risks and uncertainties, please see Super League's financial statements and MD&A for the second quarter 2026 ended June 30, 2026, available on EDGAR. Important qualifications regarding forward-looking statements are also contained in Super League's earnings release distributed earlier this morning, also available on EDGAR. Furthermore, the content of this conference call contains time-sensitive information accurate only as of today, August 14, 2026. Super League undertakes no obligation to revise or otherwise update any statements to reflect events or circumstances after the date of this call. I would now like to turn the conference call over to Matt Edelman, President and Chief Executive Officer. Matt, please go ahead.
Matthew Edelman: Good morning, and thank you for joining us. I'm pleased to share our financial results and business updates for the second quarter of 2026, along with our perspective on the progress we continue to make across Super League's media and advertising business. As we entered this year, we said 2026 would be about execution. Our second quarter results reflect continued progress against that priority even as the broader advertising environment presented several challenges during the period. Gross revenue was approximately $3 million, essentially flat both year-over-year and sequentially and generally in line with analyst expectations. While we are not satisfied with flat revenue, we believe the stability of our top line demonstrates resilience in a quarter when advertising budgets and brand priorities were affected by several macro factors, including significant spending around the World Cup, uncertainty surrounding tariffs and geopolitical events such as the Iran war, as well as evolving Roblox policies affecting certain brand activations. More importantly, we continue to make progress beneath the top line, in areas critical to the health and scalability of the business. Net revenue increased 16% sequentially to approximately $1.24 million from $1.08 million in the first quarter, despite gross revenue remaining essentially flat. Gross margin improved to 41%, up from 36% in Q1. Adjusted EBITDA improved approximately 20% year-over-year to a loss of approximately $1.7 million, compared with a loss of approximately $2.1 million in the prior year quarter. On a sequential basis, our pro forma cash basis operating performance also continued to improve. These results reflect our …