NEW YORK--(BUSINESS WIRE)--Alliance MMA, Inc. ("Alliance MMA" or the "Company") (NASDAQ:AMMA), a professional mixed martial arts (MMA) company that brings together the best regional productions building the next generation of MMA champions, today announced financial results for the first quarter ended March 31, 2017.
“Our first quarter operating results reflect the impact of our building an infrastructure to support the successful implementation of our business plan, and our steady progress in acquisition initiatives that we expect will result in creating an ongoing regional MMA promotional presence in the top 20 domestic media markets,” said Paul Danner, Chief Executive Officer of Alliance MMA. “We are quite pleased with our 28% improvement in revenue over the previous quarter and, while it did not completely offset the $1.3 million in cash used in operating our businesses during the first quarter, this positive trend towards attaining profitability is encouraging.”
John Price, Chief Financial Officer, added, “During the first quarter, the collective contribution of our regional MMA events, performance by our electronic ticking platform, and addition of our fighter management operation, resulted in a 38% operating margin, and supported strong 28% growth in revenue over the previous quarter. As anticipated, our earnings reflected the timing and amount of certain expenses necessitated by the implementation of various internal systems and processes to support our robust acquisition efforts, all investments which we anticipate will provide a positive impact on our future operating margins.”
During the first quarter of 2017, the Company produced 13 regional MMA promotions across the country. On May 5, 2017, Alliance MMA announced it had acquired the National Fighting Championship (NFC), a regional MMA promotion which operates throughout the markets within the states of Georgia and South Carolina.
Please see our Form 10-K for the year ended December 31, 2016 and our Form 10-Q for the three months ended March 31, 2017, which can be found at http://ir.alliancemma.com, for more information concerning our financial condition and performance during such periods.
About Alliance MMA, Inc.
Alliance MMA (NASDAQ:AMMA) is a professional mixed martial arts (MMA) company that brings together the best regional productions. Alliance MMA's mission is to identify and cultivate the next generation of fighters and champions for the Ultimate Fighting Championship (UFC) and other premier MMA promotions.
With some of the world’s leading MMA promotions under the Alliance MMA umbrella, the organization aims eventually to host in excess of 125 events per year, showcasing more than 1,000 fighters. Alliance MMA is also dedicated to generating live original sports media content, attracting an international fan base, and securing major brand sponsorship revenue for live MMA events, digital media, and Alliance MMA fighters.
MMA is the world’s fastest growing sport with worldwide fans of approximately 300 million according to sports marketing research firm Repucom. MMA is a full contact sport that allows a wide range of fighting techniques, including striking and grappling from various martial arts and disciplines including Boxing, Wrestling, Brazilian Jiu Jitsu, Karate and Muay Thai. Professional MMA fights are legal and regulated by state athletic commissions in all 50 states.
Alliance MMA, Inc. was incorporated in 2015 for the purpose of acquiring businesses that engage in the promotion of mixed martial arts (MMA) events. In 2016, the company completed an initial public offering that culminated in a listing on the NASDAQ stock exchange. Alliance MMA is the only mixed martial arts promotion company that is publicly-traded.
For more information visit, www.alliancemma.com
This press release contains forward-looking statements within the meaning of the federal securities laws. These statements relate to anticipated future events, future results of operations or future financial performance. In some cases, you can identify forward-looking statements by terminology such as “may,” “might,” “will,” “should,” “intends,” “expects,” “plans,” “goals,” “projects,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” or “continue” or the negative of these terms or other comparable terminology. Actual results may differ materially from historical results or those indicated by these forward-looking statements as a result of a variety of factors including, but not limited to, those discussed under the heading “Risk Factors” in our registration statement on Form S-1 (Registration No. 333-213166) declared effective by the Securities and Exchange Commission on September 2, 2016. Alliance MMA encourages you to review other factors that may affect its future results in Alliance MMA’s registration statement and in its other filings with the Securities and Exchange Commission.