November 20, 2025 — Leads & Copy — Allied Gaming & Entertainment, Inc. (AGAE) reported its financial results for the third quarter ending September 30, 2025. The company’s total revenues were $1.8 million, a 15% decrease compared to $2.2 million in the third quarter of 2024. The drop is attributed to a $0.3 million decrease in revenue from arena events.
Total costs and expenses rose to $9.2 million from $3.3 million in the prior-year period. This increase was due to a $4.4 million rise in legal and professional fees related to complaints filed by a dissident stockholder and a proxy contest.
The net loss for the third quarter of 2025 was $5.4 million, compared to a net loss of $4.0 million in the same period last year. Adjusted EBITDA loss was $2.0 million, compared to a loss of $0.1 million in the third quarter of 2024.
As of September 30, 2025, the company held $56.0 million in cash and short-term investments, down from $71.5 million at the end of 2024. The working capital position was $36.7 million, compared to $64.3 million at the end of 2024. The company had approximately 38.0 million shares of outstanding common stock.
Subsequent to the third quarter, AGAE completed the acquisition of Saiju School in Japan, which will be renamed Allied International Futuretech Academy (AIFA). The academy will focus on live events production, content creation, esports training, AI, and Web3 blockchain applications.
Allied Gaming & Entertainment has invested in the production of The Angry Birds Movie 3 through Flywheel Media, with Paramount Pictures handling distribution. MrBeast and Salish Matter have joined the cast. The film is set for release on December 23, 2026.
In the third quarter, the company hosted events on 72 days, including 33 proprietary events and 39 third-party events. Noteworthy third-party events included the SOPHOS Corporate Reception, Global Gaming League’s SZN Zero Launch, and Steel City Interactive’s Undisputed Tournament Showcase. The Allied Esports Mobile Gaming Truck attended Anime Expo in Los Angeles and launched the 2025 Rally Cry Tour in Atlanta.
James Li, Chairman & CEO of AGAE, said the company is focused on advancing its strategic initiatives following the disruptions related to a dissident stockholder.
Non-GAAP Measures
The company also mentioned that they make use of non-GAAP financial measures, including EBITDA and Adjusted EBITDA, to provide investors with additional insights into the company’s financial performance.
For inquiries, contact Allied Gaming & Entertainment, Inc.
Source: Allied Gaming & Entertainment
