The revenue growth and gross margin improvement are positive signals, but the EPS miss and continued cash burn temper enthusiasm. Watch for Q2 2026 results to see if the Misfits acquisition contributes to EBITDA profitability as guided. The $11.4M cash position provides runway, but without a path to positive cash flow, dilution risk remains.
Price Chart
Executive Summary
Super League reported Q1 2026 revenue of $3.0M (+10.5% YoY from $2.7M) but EPS of -$1.77 missed the -$1.56 consensus by 13.5%. Gross margin improved to 36% from 32% sequentially, and the company ended the quarter with $11.4M in cash. The Misfits Ads acquisition closed post-quarter, adding profitable programmatic revenue. However, the company remains unprofitable with a net loss of $4.1M and negative operating cash flow of $2.5M, and the EPS miss is notable given the small absolute base.
Key Financial Metrics
Key Facts
- Q1 2026 revenue $3.0M vs $2.7M YoY (+10.5%)
- GAAP EPS -$1.77 vs consensus -$1.56 (-13.5% miss)
- Gross margin 36% vs 32% in Q4 2025 (sequential improvement)
- Cash and investments $11.4M at quarter end; cash burn $2.5M from operations
- Misfits Ads Business acquisition closed in May 2026 for $1.5M cash
- 23 new clients YTD; average deal size $157K vs $145K prior year
- Pro forma combined pipeline ~$12M gross revenue potential for FY 2026 (not guidance)
- Net loss $4.1M vs $4.2M YoY (narrowed slightly)
- Operating cash flow -$2.5M vs -$2.2M YoY (slightly worse)
Financial Impact
Revenue grew $0.3M YoY but EPS missed consensus by $0.21; cash burn continues at ~$2.5M/quarter
Risk Factors
- Continued operating losses and negative cash flow
- Integration risk from Misfits Ads acquisition
- Low revenue base makes growth volatile
- Market cap of $7M makes stock highly sensitive to news flow
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001437749-26-017818 |
| Exhibit: ex_964546.htm | 0001437749-26-017818 |
| Document: slgg20260518_8k.htm | 0001437749-26-017818 |
| Document: 0001437749-26-017818-index-headers.html | 0001437749-26-017818 |
| Document: 0001437749-26-017818-index.html | 0001437749-26-017818 |
| Document: 0001437749-26-017818.txt | 0001437749-26-017818 |
| 8-K Data (Synthetic) | 0001437749-26-017818 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 today | 8-K | — | awaiting T+5 | — | — |
Oct 21, 2026 5d ago | 8-K | $5.57 | awaiting T+5 | — | $5.67 (−1.80%) |
Oct 21, 2026 5d ago | 424B5 | $5.57 | awaiting T+5 | — | $5.67 (−1.80%) |
Oct 19, 2026 7d ago | 8-K | $4.80 $5.67 | ▲ +18.13% | ▲ +18.27% | $5.67 (+18.13%) |
Oct 15, 2026 11d ago | DEFA14A | $4.65 $5.57 | ▲ +19.78% | ▲ +20.80% | $5.67 (+21.94%) |
Oct 13, 2026 13d ago | Press Release | $4.88 $5.45 | ▲ +11.68% | ▲ +12.83% | $5.67 (+16.19%) |
Oct 13, 2026 13d ago | 8-K | $4.88 $5.45 | ▲ +11.68% | ▲ +12.83% | $5.67 (+16.19%) |
Oct 9, 2026 16d ago | DEFA14A | $4.86 $4.80 | ▼ −1.23% | ▲ +0.26% | $5.67 (+16.67%) |
Oct 6, 2026 20d ago | DEFA14A | $5.03 $4.88 | ▼ −2.98% | ▼ −2.84% | $5.67 (+12.72%) |
Sep 30, 2026 26d ago | SC 13D/A | $5.42 $4.77 | ▼ −11.99% | ▼ −13.29% | $5.67 (+4.61%) |
US Market Status
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