Revenue has contracted significantly over the last ten quarters, while gross margins have exhibited extreme volatility, falling from 44.6% in 2025Q3 to 17.9% in 2026Q1.
| Sales/Revenue | 11.63M | 11.34M | 16.18M | 25.08M | 19.68M | 11.67M | 2.06M | 1.08M | 1.05M | 201.18K | 269.89K |
| Revenue Growth % | -20.86% | -29.91% | -35.48% | 27.45% | 68.58% | 465.5% | 90.41% | 3.6% | 420.11% | -25.46% | - |
| Cost of Goods Sold | 8.28M | 8.93M | 10.08M | 15.3M | 11.16M | 6.55M | 856K | 513K | 684.11K | 1.49M | 1.46M |
| COGS % of Revenue | - | 78.69% | 62.29% | 61% | 56.73% | 56.09% | 41.47% | 47.32% | 65.38% | 739.58% | 541.12% |
| Gross Profit | 3.35M | 2.42M | 6.1M | 9.78M | 8.52M | 5.13M | 1.21M | 571K | 362.25K | -1.29M | -1.19M |
| Gross Margin % | 28.83% | 21.31% | 37.71% | 39% | 43.27% | 43.91% | 58.53% | 52.68% | 34.62% | -639.58% | -441.12% |
| Gross Profit Growth % | - | -60.39% | -37.62% | 14.88% | 66.15% | 324.25% | 111.56% | 57.62% | 128.15% | -8.08% | - |
| Operating Expenses | 16.85M | 15.4M | 22.86M | 42.62M | 93.47M | 30.2M | 19.95M | 21.34M | 16.52M | 13.67M | 11.17M |
| OpEx % of Revenue | - | 135.79% | 141.24% | 169.94% | 475.05% | 258.78% | 966.62% | 1968.73% | 1579.04% | 6794.19% | 4140.49% |
| Selling, General & Admin | 4.58B | 14.75M | 17.78M | 21.84M | 22.82M | 19.11M | 12.99M | 15.99M | 16.51M | 13.61M | 11.03M |
| SG&A % of Revenue | - | 130.03% | 109.89% | 87.09% | 115.99% | 163.68% | 629.26% | 1475.09% | 1577.4% | 6763.6% | 4087.74% |
| Research & Development | 669.9M | 2.83M | 4.45M | 9.5M | 15.88M | 11.1M | 6.82M | 4.92M | 17.2K | 61.54K | 142.38K |
| R&D % of Revenue | - | 24.94% | 27.48% | 37.88% | 80.68% | 95.1% | 330.47% | 453.41% | 1.64% | 30.59% | 52.75% |
| Other Operating Expenses | -1.74M | -2.18M | 626K | 11.28M | 54.77M | 12K | 142K | 436K | 2.08K | 0 | 0 |
| Operating Income | -13.5M | -12.98M | -16.75M | -32.84M | -84.96M | -25.08M | -18.74M | -20.77M | -16.16M | -14.96M | -12.37M |
| Operating Margin % | -116.09% | -114.48% | -103.53% | -130.93% | -431.77% | -214.87% | -908.09% | -1916.05% | -1544.42% | -7433.77% | -4581.61% |
| Operating Income Growth % | - | 22.5% | 48.98% | 61.35% | -238.76% | -33.81% | 9.76% | -28.53% | -8.06% | -20.95% | - |
| EBITDA | -11.3M | -10.79M | -14.14M | -27.46M | -79.56M | -21.76M | -17.38M | -19.91M | -15.05M | -13.72M | -11.4M |
| EBITDA Margin % | -97.23% | -95.14% | -87.39% | -109.5% | -404.31% | -186.4% | -841.81% | -1836.53% | -1438.72% | -6818.6% | -4224.78% |
| EBITDA Growth % | 15.13% | 23.7% | 48.5% | 65.48% | -265.66% | -25.22% | 12.72% | -32.24% | -9.74% | -20.31% | - |
| D&A (Non-Cash Add-back) | 2.19M | 2.19M | 2.61M | 5.38M | 5.4M | 3.32M | 1.37M | 862K | 1.11M | 1.24M | 963.05K |
| EBIT | -12.82M | -12.98M | -15.91M | -30.59M | -84.98M | -23.85M | -18.72M | -20.74M | -16.16M | -14.96M | -12.37M |
| Net Interest Income | -7.03M | -8.52M | -559K | -50K | -679K | -5K | -8K | -9.94M | -4.47M | 0 | 0 |
| Interest Income | 271K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 7.3M | 8.52M | 559K | 50K | 679K | 5K | 8K | 9.94M | 4.47M | 0 | 0 |
| Other Income/Expense | -7.05M | -7.74M | 280K | 2.19M | -696K | 1.22M | 11K | -9.91M | -4.47M | 0 | 0 |
| Pretax Income | -20.55M | -20.73M | -16.47M | -30.64M | -85.66M | -23.86M | -18.73M | -30.68M | -20.63M | -14.96M | -12.37M |
| Pretax Margin % | -176.72% | -182.74% | -101.8% | -122.19% | -435.31% | -204.41% | -907.56% | -2830.17% | -1971.29% | -7433.77% | -4581.61% |
| Income Tax | 9K | 9K | 161K | -313K | -205K | -3.11M | 0 | 0 | 4.47M | 2 | -2 |
| Effective Tax Rate % | -0.04% | -0.04% | -0.98% | 1.02% | 0.24% | 13.04% | 0% | 0% | -21.67% | -0% | 0% |
| Net Income | -20.54M | -20.72M | -16.64M | -30.33M | -85.45M | -20.75M | -18.73M | -30.68M | -20.63M | -14.96M | -12.37M |
| Net Margin % | -176.64% | -182.66% | -102.8% | -120.94% | -434.27% | -177.76% | -907.56% | -2830.17% | -1971.29% | -7433.77% | -4581.61% |
| Net Income Growth % | -31.61% | -24.54% | 45.15% | 64.51% | -311.85% | -10.76% | 38.94% | -48.73% | -37.92% | -20.95% | - |
| Net Income (Continuing) | -20.56M | -20.73M | -16.64M | -30.33M | -85.45M | -20.75M | -18.73M | -30.68M | -20.63M | -14.96M | -12.37M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -8.43 | -495.49 | -28.22 | -164.07 | -551.45 | -166.63 | -393.32 | -932.69 | -570.40 | -413.57 | -341.94 |
| EPS Growth % | 13.76% | -1656.09% | 82.8% | 70.25% | -230.94% | 57.63% | 57.83% | -63.52% | -37.92% | -20.95% | - |
| EPS (Basic) | - | -495.49 | -28.22 | -164.07 | -551.45 | -166.63 | -393.32 | -932.69 | -570.40 | -413.57 | -341.94 |
| Diluted Shares Outstanding | 2.44M | 41.07K | 745.02K | 233.25K | 154.96K | 124.51K | 47.63K | 32.89K | 36.16K | 36.16K | 36.16K |
| Basic Shares Outstanding | 2.44M | 41.07K | 745.02K | 233.25K | 154.96K | 124.51K | 47.63K | 32.89K | 36.16K | 36.16K | 36.16K |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - |
Liquidity and dilution risk
As reported in recent financial statements, Super League Enterprise has experienced a sustained decline in top-line performance, with quarterly revenue falling from $9.5M in 2023Q4 to $3.0M in 2026Q1, reflecting a broader struggle to maintain relevance within its core digital advertising and content production segments.
The consistent downward trajectory in revenue suggests that the company's pivot toward a B2B enterprise model has yet to gain meaningful traction with brand partners. Investors should monitor whether this contraction is a result of cyclical weakness in experimental marketing budgets or a more structural loss of competitive positioning against platform-native advertising solutions.
Based on the company's historical income statements, gross margins have exhibited significant volatility, dropping from a peak of 44.6% in 2025Q3 to 17.9% in 2026Q1, which indicates a lack of pricing power and high variable costs associated with third-party platform revenue sharing.
The compression of gross margins appears to reflect the high cost of delivering services within third-party ecosystems like Roblox, where SLE acts as an intermediary rather than a platform owner. This margin profile suggests that the company's value-add may be insufficient to command premium pricing, leaving it vulnerable to any further increases in platform fees or creator payouts.
According to the provided quarterly data, SLE's operating margin of -138.5% in 2026Q1 highlights a failure to achieve operating leverage, as fixed costs continue to significantly outpace the company's ability to generate gross profit from its core advertising and content operations.
The persistent gap between gross profit and operating expenses suggests that the company's current cost structure is misaligned with its revenue scale. Without a substantial increase in top-line volume or a drastic reduction in overhead, the company appears likely to continue consuming cash at an unsustainable rate.
Analysis of the income statement reveals that the company's net margin of -134.9% in 2026Q1, combined with a history of significant stock-based compensation, raises serious questions regarding the long-term viability of the current business model without further dilutive capital raises or a fundamental strategic pivot.
Short-sellers would likely focus on the company's inability to reach cash-flow neutrality despite multiple attempts at restructuring and rebranding. The reliance on equity-based financing to cover operating losses suggests that shareholders may face continued dilution, which warrants further investigation into the company's long-term liquidity runway.
Quick answers to the most common questions about buying SLE stock.
For fiscal year 2025, Super League Enterprise, Inc. (SLE) reported total revenue of $11.3M. This represents a 4102.4% increase compared to $0.3M in 2016.
Super League Enterprise, Inc. (SLE) reported a net loss of $20.7M for the fiscal year ending 2025.
Super League Enterprise, Inc. (SLE) reported an operating income of $-13.0M, resulting in an operating profit margin of -114.5%. This margin reflects the operational efficiency of the business before interest and taxes.
Super League Enterprise, Inc. (SLE) generated $2.4M in gross profit for the year, representing a gross profit margin of 21.3%. This demonstrates the company's core pricing power and production efficiency.