Motorsport Games Inc. historically earned most of its revenue through marquee racing licenses like NASCAR, which comprised over half of its sales before 2024. The sale of the NASCAR license and loss of other key licenses by late 2023 necessitated a strategic pivot. By focusing on new products such as Le Mans Ultimate and operational improvements, the company reported its first operating profit and net income in 2025, signaling a financial turnaround. Despite this progress, material weaknesses in internal controls and capital raising challenges persist, posing risks to sustained growth and Nasdaq listing compliance.