Clubhouse Media Group, Inc. Q1 2024 Financial Results

Ticker: CMGR

Company Name: Clubhouse Media Group, Inc.

Exchange: OTC

Sector: Communication Services

Industry: Entertainment

Report Type: Financial Results

Calendar Year: 2024

Period: Q1

Filing Date: 2024-05-13

Publication Date: 2024-03-31

Update Date: 2024-05-14

Accepted Date: 2024-05-13

Reported Currency: USD

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Cash Flows

Net Income: -$1.75B

Depreciation & Amortization: $32.59M

Stock-Based Compensation: $75.00M

Accounts Receivables: -$4.04M

Accounts Payables: $235.52M

Net Cash Used for Investing Activities: Not Available

Net Cash Used/Provided by Financing Activities: $12.50M

Net Change in Cash: -$110.37M

Cash at Beginning of Period: $125.21M

Cash at End of Period: $14.84M

Balance Sheet

Total Current Assets: $240.22M

Total Non-Current Assets: $431.53M

Total Assets: $671.75M

Total Current Liabilities: $9.62B

Total Liabilities: $9.62B

Total Stockholders' Equity: -$9.27B

Total Liabilities & Stockholders' Equity: $671.75M

Market Data and Ratios

Market Cap: $3.27M

Working Capital: -$9.38B

Altman Z-score: -92.35

Piotroski F-score: 4

Gross Profit Margin: 31.95%

Operating Income Ratio: -68.93%

Net Income Ratio: -435.60%

Return on Assets (ROA): -260.39%

Return on Equity (ROE): 18.88%

Debt-to-Equity Ratio: -44.93%

Current Ratio: 2.50%

Peer Comparison

CMGR shows significant variation when compared to its peers in various financial ratios.

• Gross Profit Margin TTM: Highest compared to peers at 48.15%
• Operating Profit Margin TTM: -12.04%, relatively better than the sector average of -1,926.79%
• Net Profit Margin TTM: -125.66%, still a large deficit when contrasted with peers' average of -2,064.37%
• Return on Equity (ROE) TTM: 84.57%, considerably higher than the sector average of -43.50%
• Price to Earnings Ratio (P/E) TTM: -166.70, underperforming compared to the sector average of 226.54
• Debt-to-Equity Ratio TTM: -44.93%, below the sector average of 97.40%

Conclusion

Clubhouse Media Group, Inc. has faced significant financial challenges in Q1 2024. The company recorded substantial losses in net income and operating income. Despite achieving strong gross profit margins relative to peers, the operating and net profit margins remain deeply negative.

Cash flow and balance sheet assessments indicate considerable liabilities overshadowing the company's asset base, exacerbating the net debt scenario. Comparative peer analysis suggests considerable performance swings with high figures in gross profit margins and ROE, but severe deficits in net profit margins and the P/E ratio.

Overall, while the company's strategic operations and market hold certain advantages, substantial debt and operational losses pose critical areas for financial and strategic optimization moving forward.