Signing Day Sports, Inc. (NYSE American: SGN) has announced their financial results for the year ended December 31, 2024, showcasing significant growth and success in their business operations. The company, known for its Signing Day Sports app and platform designed to assist high school athletes in the recruitment process, reported a revenue increase of 100% to approximately $0.6 million from $0.3 million in 2023. Additionally, gross profit rose to approximately $0.4 million, reflecting the success of their strategic initiatives.
Daniel Nelson, the CEO and Chairman of Signing Day Sports, expressed his satisfaction with the company’s performance, attributing the positive results to their commitment to empowering student-athletes with innovative tools and resources. By providing a platform for student-athletes to showcase their skills and connect with college coaches, Signing Day Sports aims to simplify the recruitment process and help aspiring athletes achieve their goal of playing college sports.
In the face of a rapidly evolving athletic recruiting industry, Signing Day Sports has maintained key business relationships, including a collaboration with the U.S. Army Bowl, to solidify their position as a leader in the recruiting space. Moving forward, the company plans to focus on technology and customer growth opportunities to drive strategic growth. Initiatives such as recruiting webinars, an expanded coaches’ contact list, and potential strategic transactions are expected to unlock new opportunities and deliver greater value to users.
Despite facing challenges in 2024, the Signing Day Sports team has demonstrated resilience and dedication, with a strong focus on executing their vision and strengthening relationships with customers and collaborators. By prioritizing disciplined capital allocation, strategic innovation, and consistent execution, the company aims to shape the future of athletic recruiting and create meaningful opportunities for student-athletes nationwide.
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Financially, Signing Day Sports reported revenue of approximately $0.6 million for the year ended December 31, 2024, compared to $0.3 million in 2023. Cost of revenues, advertising and marketing expenses, and general and administrative expenses also showed increases in 2024. The company reported a net loss of approximately $8.7 million for 2024, with a diluted loss per share of $19.86.
Investors and stakeholders are encouraged to review the complete financial results for the year ended December 31, 2024, as detailed in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission. To learn more about Signing Day Sports and their mission to help student-athletes achieve their goals, visit their website at www.signingdaysports.com.