Capital RequirementDespite improving financial estimates, SLE will require additional capital before 3Q25.
Financial PerformanceSLE reported 4Q24 results below expectations with revenue of $3.4M below our estimate of $6.0M; and adjusted EBITDA loss of ($4.0M), which was wider than our estimate.
Operational ChallengesSLE did not complete its previously announced pending transaction to acquire certain assets from Infinite Reality, Inc., which created a distraction and played a factor in recent underperformance.