HOFV Earnings Prediction
The chart below shows how HOFV performed 10 days before and after its earnings report, based on data from the past quarters. Typically, HOFV sees a +13.27% change in stock price 10 days leading up to the earnings, and a +0.53% change 10 days following the report. On the earnings day itself, the stock moves by -7.78%. This data can give you a slight idea of what to expect for the next quarter's release.
HOFV Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
4.70M
-23.30%
12.13%
Gross Margin
-178.52%
14.81%
5.50%
Operating Margin
-178.52%
14.81%
5.50%
Net Margin
-329.58%
51.92%
-5.58%
EPS
-2.41
-0.84%
4.78%
No Data Available
HOFV Earnings Analysis
Hall of Fame Resort & Entertainment Company Common Stock Corporation (HOFV.O) Earnings Conference Call
Positive
The company successfully hosted a series of diverse and record-breaking events, including the NFL flag football event, the American Cornhole League Championships, Intriman event, and a concert for legends with Carrie Underwood. These events showcased the company's ability to execute at a high level and attract large audiences.
Revenue growth is being driven by the synergy created by hosting various events on the campus, leading to increased guest engagement and revenue opportunities. The company is focused on improving bundling, customer satisfaction, and operational efficiency to maximize profitability.
The restructuring of the balance sheet, including the restructured loans totaling $21 million and additional financing of $11 million, reflects the company's efforts to simplify its financial structure and secure long-term financing. The support from stakeholders, including local communities, grants from the state, and a $500,000 grant from the Stark Community Foundation, indicates confidence in the company's potential for success.
The company's media division is experiencing significant growth, with a 50% increase in projects in the pipeline compared to the previous year. Projects like "Hometown Heroes" and "The GOAT Code" are set to premiere on television networks, showcasing the company's expanding presence in the media space and revenue opportunities.
The gaming vertical is seeing growth, with the hosting of major gaming events like the Gridiron Gateway tournament and the largest fantasy football expo in the country. The company's investment in mobile betting partner Better is expected to yield positive returns, contributing to the overall gaming revenue growth and brand expansion.
Negative
- Revenue for Q2 2024 was lower year-over-year due to the mix of events at the Hall of Fame Village, resulting in a decrease from $6.1 million to $4.7 million in the quarter.
- Q2 2024 adjusted EBITDA was at a loss of $4.2 million compared to a loss of $6.2 million in the same period last year, indicating ongoing challenges in achieving profitability.
- The company reported a net loss of $15.8 million in the second quarter of 2024, signaling continued financial struggles and potential need for improvement in cost management.
- Despite a cash and liquid investment balance of approximately $6.4 million, the company's usage of cash was primarily attributed to operating activities, highlighting potential financial strain.
- Revenue expectations for 2024 have been revised to be in the range of $20 million to $22 million, signaling a downward adjustment from previous forecasts and potential difficulty in meeting revenue targets.
