Allied Gaming Reports Cost Reductions and a 21% Increase in Revenue for 2023

AGAE saw its revenue grow by 21% in 2023, reaching $7.7 million. This increase was mainly due to more sponsorship revenue from HyperX Arena Las Vegas and a strategic investment in Z-Tech.

However, despite an overall decrease in expenses, there was a slight rise in professional and legal fees.

AGAE CEO expressed optimism for 2024, citing positive momentum gained in 2023.

 

[Qwert135]

This is good that the company was able to reduce their costs and increase their revenue they should definitely continue to work on increasing their revenue which can boost their income their financial status and their growth in the market and they can this way makes Their employees happy as well by giving them bonuses from time to time and making them happy to work in their premises