Finances  ·  Esports

Semper Fortis Esports loses $1.46M in 2021

by Adam Fitch · ${ (new Date("2022-07-29T14:53:00+00:00")).toLocaleString(userLocale, { timeZone: userTimezone, dateStyle: "short", timeStyle: "short" }) }}
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Semper Fortis Esports loses $1.46M in 2021
Semper Fortis Esports

British organization Semper Fortis Esports has published its financial performance for 2021.

Brass tacks: The results are for the year ending January 21, 2022.

  • Total revenue of $38,350 (£31,629 GBP) for the year. The report claims that there was no revenue from "subscribers, sponsors, advertising and merchandising," though it also stated that its sponsorship from The Topps Company is worth $12,125 (£10,000 GBP).
  • Semper Fortis Esports held cash and cash equivalents of $1.58M (£1.33M GBP) at the end of the year. It raised $3.1M (£2.55M GBP) when it was listed on the Aquis Stock Exchange in April 2021.
  • Comprehensive loss of $1.46M (£1.2M GBP) for the period.

The company: It's been relatively quiet since signing two major sports figures as ambassadors.

  • Semper Fortis Esports named England footballers Harry Maguire and Dominic Calvert-Lewin as ambassadors in May 2021.
  • CEO Kevin Soltani stepped down in December 2021 and Nolan Bushnell, the founder of Atari and Chuck E. Cheese, left his role of Non-Executive Director in July 2022.
  • The organization has been looking to "significantly reduce" its overhead costs and has now exited all games but Rocket League. Its website still lists Hearthstone, Fortnite, FIFA 22, Axie Infinity, Super Smash Bros., and Street Fighter as games it actively competes in.