The balance sheet remains vulnerable with $4.1M in goodwill representing nearly 30% of total assets, while retained earnings remain deeply negative at $84.5M as of 2026Q1.
| Total Current Assets | 9.06M | 7.59M | 2.8M | 3.52M | 4.04M | 24.62M | 10.47M | 7.13M | 8.7M |
| Cash & Short-Term Investments | 5.86M | 4.99M | 859.27K | 1.68M | 979.31K | 17.82M | 3.99M | 1.96M | 3.41M |
| Cash Only | 5.86M | 4.99M | 859.27K | 1.68M | 979.31K | 17.82M | 3.99M | 1.96M | 3.41M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 2.27M | 2.24M | 1.45M | 735.84K | 2.02M | 5.63M | 5.98M | 5.09M | 5.2M |
| Days Sales Outstanding | 51.05 | 72.48 | 60.79 | 38.87 | 71.26 | 136.26 | 114.52 | 156.84 | 128.71 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 938.59K | 350.49K | 490.22K | 1.11M | 1.05M | 0 | 0 | 0 | 0 |
| Total Non-Current Assets | 4.82M | 4.38M | 3.47M | 6.24M | 14.85M | 26.08M | 6.91M | 5.65M | 6.97M |
| Property, Plant & Equipment | 61.37K | 55.56K | 106.44K | 445K | 1.49M | 727.09K | 162.15K | 127.41K | 70.73K |
| Fixed Asset Turnover | 219.81x | 203.33x | 81.62x | 15.53x | 6.91x | 20.73x | 117.46x | 93.02x | 208.62x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 4.87M | 137.72K | 137.72K | 712.73K |
| Intangible Assets | 4.13M | 3.77M | 3.37M | 5.8M | 13.36M | 20.49M | 5.57M | 5.33M | 6.14M |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 126.56K | 60.53K | 0 | 0 | 0 | 0 | 1.05M | 55.36K | 49.78K |
| Total Assets | 13.88M | 11.97M | 6.27M | 9.76M | 18.9M | 50.7M | 17.39M | 12.78M | 15.67M |
| Asset Turnover | 1.23x | 0.94x | 1.39x | 0.71x | 0.55x | 0.30x | 1.10x | 0.93x | 0.94x |
| Asset Growth % | 277.8% | 90.93% | -35.77% | -48.36% | -62.73% | 191.62% | 36.08% | -18.46% | - |
| Total Current Liabilities | 3.91M | 3.37M | 5.02M | 7.59M | 13.32M | 9.12M | 14.91M | 9.17M | 6.3M |
| Accounts Payable | 1.18M | 918.28K | 2.98M | 813.66K | 2.37M | 1.78M | 705.95K | 266.85K | 832.14K |
| Days Payables Outstanding | 170.42 | 156.6 | 336.76 | 82.03 | 174.56 | 86.52 | 39.07 | 19.92 | 54.24 |
| Short-Term Debt | 8.72K | 17.57K | 0 | 0 | 0 | 119.02K | 10.85M | 8.05M | 4.48M |
| Deferred Revenue (Current) | 2.54M | 1.13M | 390.46K | 270.85K | 311.94K | 523.8K | 0 | 0 | 0 |
| Other Current Liabilities | 1.82M | 1.17M | 959.96K | 5.2M | 3.79M | 3.31M | -10.85M | -8.05M | 275.15K |
| Current Ratio | 2.32x | 2.25x | 0.56x | 0.46x | 0.30x | 2.70x | 0.70x | 0.78x | 1.38x |
| Quick Ratio | 2.32x | 2.25x | 0.56x | 0.46x | 0.30x | 2.70x | 0.70x | 0.78x | 1.38x |
| Cash Conversion Cycle | -119.37 | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 1.41M | 1.02M | 20.44K | 76.76K | 3.67M | 3.6M | 856.69K | 0 | 0 |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | 0 | 16.31K | 45.66K | 617.29K | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 445.67K | 222.83K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 1.19M | 798.19K | 4.13K | 31.1K | 3.06M | 3.6M | 856.69K | 0 | 0 |
| Total Liabilities | 5.32M | 4.39M | 5.04M | 7.67M | 16.99M | 12.72M | 15.77M | 9.17M | 6.3M |
| Total Debt | 8.72K | 17.57K | 47.41K | 198.67K | 997.83K | 119.02K | 10.85M | 8.05M | 4.48M |
| Net Debt | -5.85M | -4.98M | -811.86K | -1.48M | 18.52K | -17.7M | 6.86M | 6.09M | 1.07M |
| Debt / Equity | 0.00x | 0.00x | 0.04x | 0.10x | 0.52x | 0.00x | 6.72x | 2.23x | 0.48x |
| Debt / EBITDA | 0.00x | 0.01x | 0.06x | - | - | - | 15.05x | - | - |
| Net Debt / EBITDA | -1.51x | -1.80x | -0.97x | - | - | - | 9.51x | - | - |
| Interest Coverage | 188.07x | 87.32x | -24.24x | -17.53x | -31.09x | -65.85x | 0.05x | - | - |
| Total Equity | 8.56M | 7.58M | 1.23M | 2.09M | 1.9M | 37.98M | 1.62M | 3.61M | 9.37M |
| Equity Growth % | 1319.17% | 518.37% | -41.33% | 9.79% | -94.99% | 2250.62% | -55.26% | -61.44% | - |
| Book Value per Share | 1.56 | 1.57 | 0.42 | 0.81 | 1.62 | 32.60 | 1.57 | 2.07 | 5.37 |
| Total Shareholders' Equity | 7.05M | 6.78M | 496.26K | 1.04M | 1.53M | 36.72M | -1.03M | -3.06M | 499.79K |
| Common Stock | 644 | 644 | 385 | 339 | 187 | 1.86K | 0 | 0 | 499.79K |
| Retained Earnings | -84.55M | -84.86M | -91.79M | -89.04M | -73.98M | -37.99M | -4.83M | 0 | 499.79K |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -3.62M | -3.58M | -674.43K | -1.85M | -933.41K | -945.38K | 4.93K | 0 | 0 |
| Minority Interest | 1.51M | 805.55K | 729.74K | 1.05M | 369.69K | 1.26M | 2.65M | 6.68M | 8.87M |
License Portfolio Expiration Risk
As reported in financial statements, MSGM's total assets have fluctuated significantly, reaching $13.9M in 2026Q1 from a low of $6.1M in 2025Q1, reflecting a balance sheet trajectory that appears driven by episodic capital raises rather than consistent, organic growth in the underlying business asset base.
The erratic movement in total assets suggests that the company's financial foundation is highly sensitive to external financing events. Investors should monitor whether this expansion in asset size translates into sustainable operational capacity or if it merely reflects temporary liquidity injections required to offset ongoing cash burn.
Based on recent SEC filings, the company's current ratio improved to 2.32 in 2026Q1 from a precarious 0.46 in 2023Q4, indicating a temporary strengthening of the short-term liquidity buffer that may provide a brief reprieve from the immediate solvency pressures observed in prior periods.
While the current ratio suggests improved coverage of short-term obligations, the historical trend of sub-1.0 ratios warrants caution regarding the company's ability to maintain this liquidity without further dilutive financing. The reliance on cash accumulation to bolster the current ratio implies that operational cash flow remains insufficient to support the business's working capital needs.
According to the company's balance sheet data, retained earnings remain deeply negative at -$84.5M as of 2026Q1, highlighting a persistent erosion of shareholder equity that underscores the long-term difficulty in achieving profitable operations despite the recent uptick in reported asset values.
The massive accumulated deficit suggests that historical capital allocation has failed to generate sufficient returns to build a self-sustaining equity base. This persistent negative balance in retained earnings may limit the company's future financial flexibility and suggests that the current equity position is highly dependent on external capital infusions.
As indicated by the provided figures, goodwill accounts for $4.1M of the $13.9M total assets in 2026Q1, representing a significant portion of the balance sheet that may be subject to future impairment charges if the company fails to monetize its remaining licensed racing intellectual property.
The concentration of intangible assets relative to total equity suggests that the company's book value is highly sensitive to management's assumptions regarding the future value of its racing licenses. Should the company lose further licensing agreements, the resulting impairment could materially impair the already fragile equity position.
Quick answers to the most common questions about buying MSGM stock.
As of 2025, Motorsport Games Inc. (MSGM) had total assets of $12.0M including $7.6M in current assets.
Motorsport Games Inc. (MSGM) carries total debt of $0.0M, offset by $5.0M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Motorsport Games Inc. (MSGM) has total shareholders' equity (book value) of $6.8M ($1.57 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Motorsport Games Inc. (MSGM) reported a current ratio of 2.25x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.