Motorsport Games Inc.

What Motorsport Games Inc. does

Motorsport Games Inc. (NASDAQ: MSGM) is a publicly traded racing game developer, publisher, and esports ecosystem provider headquartered in Miramar, Florida, with a headcount of 51-100 employees. The company develops and distributes official motorsport simulation games and associated esports properties, anchored by three core products: Le Mans Ultimate, the official game of the FIA World Endurance Championship and 24 Hours of Le Mans; rFactor 2, a racing simulation platform developed by wholly owned subsidiary Studio 397 (acquired April 2021); and KartKraft, a karting simulation title. Supporting the product portfolio is RaceControl, a subscription platform providing hosted servers, competitive multiplayer infrastructure, and career-progression tracking for online racing.

The company's business model blends one-time game and DLC sales on Steam (Le Mans Ultimate went to full V1.0 release in July 2025 after early access in February 2024) with a recurring RaceControl subscription and ecosystem revenue from official esports championships (Le Mans Virtual Series, 24 Hours of Le Mans Virtual, Formula E Race at Home Challenge, Le Mans Esports Series) and B2B deployments such as F1 Arcade entertainment venues powered by rFactor 2 through Kindred Concepts. Key enterprise relationships include the Automobile Club de l'Ouest (Le Mans licensing), Genesis Magma Racing (OEM esports partnership, May 2026), and Pimax Innovation (VR technology integration, April 2025 strategic investment).

Recent financial trajectory shows a clear turnaround, with Q1 2026 revenue of $4.03M up 129.3% year-over-year, an 87.2% gross margin, and full-year 2025 net income of $6.8M. Following the April 2026 share repurchase that eliminated its dual-class stock structure and the July 2026 appointment of a new CFO with prior gaming-industry executive experience, the company is positioning for console expansion to PlayStation 5 and Xbox Series X|S in late 2026/early 2027, financed in part by a $3.0M Citibank revolving credit line secured in February 2026.

Name

Motorsport Games Inc.

Legal name

Motorsport Games Inc.

Website

https://motorsportgames.com

Company type

Public

Founded year

2017

Operating status

Operating

Headcount range

51–100 employees

Short description

Motorsport Games Inc. (NASDAQ: MSGM) is a publicly traded racing game developer and esports ecosystem provider that publishes officially licensed motorsport simulations — primarily Le Mans Ultimate, rFactor 2, and KartKraft — for PC gaming enthusiasts and official motorsport racing series partners.

Ownership category

akta.pro rank

Product category

Racing Simulation Video Games

NAICS

Spectator Sports (71121)

SIC

Services-Racing, Including Track Operation (7948)

akta.pro primary industry

Sports/Racing Game Studios (MPAFAAAJ)

Keywords

• Racing simulation games
• Motorsport esports
• Video game development
• Subscription gaming platform
• Esports championship services

Headquarters

HQ city

Miramar Beach

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Others

Revenue model

1. Game Sales and DLC: Primary revenue from sales of racing simulation games including Le Mans Ultimate, rFactor 2, and KartKraft. Additional revenue from downloadable content including Season Pass content, additional cars, tracks, and updates.
2. RaceControl Subscription: Recurring subscription revenue from RaceControl platform providing competitive multiplayer access, hosted servers, and optional subscription features. The platform stores user profile data including results and statistics for career tracking.
3. Console Game Releases: Planned future revenue from PlayStation 5 and Xbox Series X|S releases of Le Mans Ultimate, with negotiations underway with third-party publishers for late 2026/early 2027 launch.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels10 records

Core offering

Motorsport Games develops, publishes, and operates officially licensed racing simulation video games, anchored by Le Mans Ultimate (the official game of the FIA World Endurance Championship and 24 Hours of Le Mans), rFactor 2, and KartKraft. The company runs a connected ecosystem including the RaceControl subscription platform for online multiplayer and an esports portfolio (Le Mans Virtual Series, 24 Hours of Le Mans Virtual, Formula E Race at Home Challenge) that generates revenue through game sales, DLC, subscriptions, and licensing.

Product overview

Motorsport Games is a racing game developer, publisher, and esports ecosystem provider offering a portfolio of products centered around official motorsport racing series. The core product lineup consists of Le Mans Ultimate (the official FIA World Endurance Championship game), rFactor 2 (simulation platform owned through Studio 397 acquisition), and KartKraft (karting simulation). These games are supported by RaceControl, a subscription platform enabling online multiplayer and career tracking. The esports ecosystem includes Le Mans Virtual Series, 24 Hours of Le Mans Virtual, Formula E Race at Home Challenge, Le Mans Esports Series, INDYCAR Pro Challenge, World RX Esport Invitational, and Virtual Race of Champions. The company holds official licenses for 24 Hours of Le Mans and FIA World Endurance Championship, with rFactor 2 also powering F1 Arcade through partnership with Kindred Concepts.

Differentiator

Problem solved

Functional benefit

Brands

• Le Mans Ultimate: Official game of the 24 Hours of Le Mans and FIA World Endurance Championship
• rFactor 2
• KartKraft
• RaceControl
• Studio 397

Products and services

• Le Mans Ultimate Official game of the FIA World Endurance Championship and 24 Hours of Le Mans. An immersive driving simulation featuring hypercars, LMP2, and LMGT3 vehicles across iconic endurance racing circuits, available on Steam with planned console releases for PS5 and Xbox Series X|S.
• rFactor 2 The world's most diverse and dynamic racing simulation platform developed by Studio 397, featuring modding support, extensive car and track selection, and serving as the platform powering F1 Arcade venues through the Kindred Concepts partnership.
• KartKraft Karting racing simulation game featuring photorealistic graphics and immersive driving physics focused on competitive kart racing.
• RaceControl Subscription platform that powers online races on Motorsport Games products including Le Mans Ultimate and rFactor 2, providing competitive multiplayer access, hosted servers, and user profile data including race results and statistics to track online career progression.
• Le Mans Virtual Series Premier endurance esports championship featuring multiple rounds of online racing on the rFactor 2 platform, culminating in the 24 Hours of Le Mans Virtual with a US$250,000 prize fund.
• 24 Hours of Le Mans Virtual Standalone virtual endurance race featuring 50 cars split between LMP and GTE categories, combining professional racing drivers with top sim racers in teams, broadcast globally via TV and streaming platforms.
• Formula E Race at Home Challenge Esports championship run on rFactor 2 featuring a unique Race Royale format where the last-position driver is eliminated each lap, with separate grids for official Formula E drivers and online qualifiers.
• Le Mans Esports Series Competition providing esports gamers and amateur players the opportunity to compete through six qualifying rounds leading to a grand finale with 36 drivers at the Le Mans 24 Hours venue, in partnership with the Automobile Club de l'Ouest.

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature7 records

Partnerships

Four partnerships are on record, tiered minor and core.

• Genesis Magma RacingminorStrategic or Co-development Partner · 7 May 2026Genesis Magma Racing launched GMR Esports as its official esports team, competing on Le Mans Ultimate using virtual models of the GMR-001 Hypercar. The seven-driver roster combines European esports champions with Korean talent. Launch builds on existing partnership with Motorsport Games.
• Studio 397coreStrategic or Co-development Partner · 1 April 2021Motorsport Games completed acquisition of Studio 397 in late April 2021. Studio 397 continues development of the rFactor 2 racing simulation platform. The acquisition enhances Motorsport Games' product portfolio and esports events capabilities.
• Automobile Club de l'OuestcoreStrategic or Co-development PartnerPartnership for Le Mans Esports Series, providing both esports gamers and amateur players opportunity to compete through qualifying rounds to reach grand finale at Le Mans 24 Hours.
• Kindred ConceptsminorStrategic or Co-development PartnerPartnership where rFactor 2 technology powers F1 Arcade entertainment venues through Kindred Concepts.

Scale indicators15 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• iRacing.com: iRacing is a subscription-based motorsport simulation platform and direct competitor to rFactor 2 and Le Mans Ultimate. Notably, iRacing acquired the NASCAR license from Motorsport Games in 2023, making it the most strategically significant peer.
• Codemasters (EA Sports): Codemasters, owned by Electronic Arts, develops F1, DiRT, and WRC racing games — the most direct commercial competitors to Le Mans Ultimate and rFactor 2 in officially-licensed motorsport gaming. Motorsport Games' incoming CFO previously worked at Codemasters.
• Kunos Simulazioni: Italian studio behind Assetto Corsa and Assetto Corsa Competizione, the latter an officially-licensed GT World Challenge simulation. A direct competitor in premium PC racing simulation with comparable physics-driven positioning.
• Milestone S.r.l. Italian developer and publisher of officially-licensed racing games including MotoGP, MXGP, and Hot Wheels Unleashed. A direct peer in officially-licensed motorsport video game publishing with a similar portfolio-driven strategy.
• Slightly Mad Studios: Developer of the Project CARS franchise (now part of Codemasters/EA). A direct peer historically positioned in PC and console racing simulation, competing in the same premium simulation tier as rFactor 2 and Le Mans Ultimate.

Broad incumbents

• Polyphony Digital (Sony): Developer of the Gran Turismo franchise under Sony Interactive Entertainment. A broad incumbent in console racing simulation with significantly larger resources, comparable production values, and exclusive PlayStation positioning that competes with Le Mans Ultimate's planned PS5 launch.
• Turn 10 Studios (Microsoft): Developer of the Forza Motorsport and Forza Horizon franchises under Xbox Game Studios. A broad incumbent with Xbox exclusivity and a much larger installed base, competing for the same console sim-racing audience Motorsport Games is targeting.

Emerging players

• Reiza Studios: Brazilian developer of the Automobilista series and rFractor-based sims. An emerging player in PC sim racing with overlapping technology roots on the rFactor engine, and partial overlap with Motorsport Games' core PC sim audience.
• Rennsport (Competition Company): Rennsport is a free-to-play racing simulation from Competition Company, targeting the same PC sim racing and esports community. An emerging player with platform-agnostic ambitions that could pressure engagement on rFactor 2 and Le Mans Ultimate.

Others

• Studio 397 (Motorsport Games subsidiary): Wholly-owned subsidiary of Motorsport Games since April 2021, developing rFactor 2 and Le Mans Ultimate. Included here as a related entity/ecosystem peer rather than a competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/msportgames
• Facebookfacebook.com/msportgames
• LinkedInlinkedin.com/company/msportgames
• Instagraminstagram.com/msportgames

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

Funding overview

Funding rounds3 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A4 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Motorsport Games Inc.