$XONI Xtreme One Entertainment Announces Second Quarter 2024 Financial Results Marked by Continued Progress in Live Event Execution and Growth in XFC Brand
https://www.globenewswire.com/en/news-release...Brand.html
DETROIT, Aug. 14, 2024 (GLOBE NEWSWIRE) -- Xtreme One Entertainment, Inc. (OTCPink:XONI) (the “Company” or “Xtreme One”) today announced its financial results for the second quarter ending June 30, 2024, details of which have been filed within the Company’s quarterly disclosure statement accessible at https://www.otcmarkets.com/stock/XONI/disclosure.
“I’m incredibly proud of the efforts our team demonstrated, as their dedication culminated in the successful production of two live XFC Main events during the quarter, XFC 50 and XFC: Grand Prix II,” commented Chris Defendis, Xtreme One President. “As we continue to evolve in the space, it is clear that our strategy is working; XFC Grand Prix II saw a 52% increase in ticket sales along with a 71% increase in concurrent streams, endorsing our team and business model and giving us momentum going into our next event in Milwaukee in September. Our strategy to be the premier league for emerging pro MMA fighters is on track and we continue to attract top-tier talent both in the ring and out.”
For the second quarter of 2024, the Company incurred a loss of $2.0 million, or ($0.01) per diluted share as the Company continue to make significant investments in the production of live events and building the XFC brand within the MMA category.
During the quarter, the Company achieved a number of significant milestones in pursuit of its strategy to build a successful global Xtreme sports business:
Successfully produced XFC 50: Resurrection in Lakeland Florida on April 12, 2024, featuring eight total bouts with a variety of male and female fighters in various weight classes. The event was held for a live ticketed audience and broadcast live to pay-per-view audiences in the United States and internationally.
XFC Grand Prix II in Detroit, Michigan on May 31, 2024 set a new standard for live and fully produced fights, featuring nine bouts of male and female fighters in various weight classes held in conjunction with the Chevrolet Detroit Grand Prix racing event held that same weekend. The second main event marked sequential improvements in a number of key performance measures, including increased ticket sales, increased streaming viewership, and significant improvements in fan engagement through the Company’s website and social media channels.
The Company is in the final preparations for XFC 51: Evolution which is to be held at the Baird Center in Milwaukee, Wisconsin on September 27, 2024.
Additionally, during the second quarter the Company announced an agreement with the U.S. Department of Defense to broadcast XFC events live on the American Forces Network.
Defendis added, “While establishing a strong, vibrant, global MMA league can be challenging, we are convinced that the one-two combination of our 50-main event heritage and the investment we’re making to build a fighter-first league will resonate with fans and drive the long-term success of Xtreme One. I am convinced the excitement we saw among the fans at Lakeland and Detroit will only continue to grow at XFC 51 and beyond.”
https://www.globenewswire.com/en/news-release...Brand.html
DETROIT, Aug. 14, 2024 (GLOBE NEWSWIRE) -- Xtreme One Entertainment, Inc. (OTCPink:XONI) (the “Company” or “Xtreme One”) today announced its financial results for the second quarter ending June 30, 2024, details of which have been filed within the Company’s quarterly disclosure statement accessible at https://www.otcmarkets.com/stock/XONI/disclosure.
“I’m incredibly proud of the efforts our team demonstrated, as their dedication culminated in the successful production of two live XFC Main events during the quarter, XFC 50 and XFC: Grand Prix II,” commented Chris Defendis, Xtreme One President. “As we continue to evolve in the space, it is clear that our strategy is working; XFC Grand Prix II saw a 52% increase in ticket sales along with a 71% increase in concurrent streams, endorsing our team and business model and giving us momentum going into our next event in Milwaukee in September. Our strategy to be the premier league for emerging pro MMA fighters is on track and we continue to attract top-tier talent both in the ring and out.”
For the second quarter of 2024, the Company incurred a loss of $2.0 million, or ($0.01) per diluted share as the Company continue to make significant investments in the production of live events and building the XFC brand within the MMA category.
During the quarter, the Company achieved a number of significant milestones in pursuit of its strategy to build a successful global Xtreme sports business:
Successfully produced XFC 50: Resurrection in Lakeland Florida on April 12, 2024, featuring eight total bouts with a variety of male and female fighters in various weight classes. The event was held for a live ticketed audience and broadcast live to pay-per-view audiences in the United States and internationally.
XFC Grand Prix II in Detroit, Michigan on May 31, 2024 set a new standard for live and fully produced fights, featuring nine bouts of male and female fighters in various weight classes held in conjunction with the Chevrolet Detroit Grand Prix racing event held that same weekend. The second main event marked sequential improvements in a number of key performance measures, including increased ticket sales, increased streaming viewership, and significant improvements in fan engagement through the Company’s website and social media channels.
The Company is in the final preparations for XFC 51: Evolution which is to be held at the Baird Center in Milwaukee, Wisconsin on September 27, 2024.
Additionally, during the second quarter the Company announced an agreement with the U.S. Department of Defense to broadcast XFC events live on the American Forces Network.
Defendis added, “While establishing a strong, vibrant, global MMA league can be challenging, we are convinced that the one-two combination of our 50-main event heritage and the investment we’re making to build a fighter-first league will resonate with fans and drive the long-term success of Xtreme One. I am convinced the excitement we saw among the fans at Lakeland and Detroit will only continue to grow at XFC 51 and beyond.”
