Thank you for standing by, and welcome to Motorsport Games, Inc.'s Third Quarter 2025 Earnings Call. [Operator Instructions] As a reminder, today's conference is being recorded. I would like to turn the conference over to Ben Rossiter-Turner from Motorsport Games. Please go ahead.

Thank you, and welcome to Motorsport Games Third Quarter 2025 Earnings Conference Call and Webcast. On today's call is Motorsport Games' Chief Executive Officer, Stephen Hood; and Chief Financial Officer, Stanley Beckley. By now, everyone should have access to the company's third quarter 2025 earnings press release filed today after market close. This is available on the Investor Relations section of Motorsport Games' website at www.motorsportgames.com. During the course of this call, management may make forward-looking statements within the meaning of U.S. federal securities laws. These statements are based on management's current expectations and beliefs and involve risks and uncertainties that could cause actual results to differ materially from those described in these forward-looking statements. Except as required by law, the company undertakes no obligation to update any forward-looking statement made on this call or to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise. Please refer to today's press release and company filings with the SEC, including its most recent quarterly report on Form 10-Q for the quarter ended September 30, 2025, for a detailed discussion of certain risks that could cause actual results to differ materially from those expressed or implied in any forward-looking statements made today. In today's conference call, we will refer to certain non-GAAP financial measures such as adjusted EBITDA as we discuss the third quarter 2025 financial results. You will find a reconciliation of these non-GAAP measures to their most directly comparable GAAP measures as well as other related disclosures in the press release issued earlier today, which is also available on the Investor Relations section of Motorsport Games website at www.motorsportgames.com. And now I'd like to turn over the call to Stephen Hood, Chief Executive Officer of Motorsport Games. Stephen?

Thank you, everyone, for joining this conference call today. I'm delighted to say that the positive trends reported in Q2 have continued into this quarter's results. We've entered a profit generation phase. The restructuring enacted some time ago continues to pay off. Our key gaming product in Le Mans Ultimate is scaling, and this helps improve margins quite significantly. Our model is working. Our player base is growing. Cash and cash equivalents, once a challenging element of our business has improved considerably relative to our scale, and we're again generating profit from operations for the second consecutive quarter. We have continued to improve and expand our core gaming offering in Le Mans Ultimate and associated service platform, RaceControl. This has demonstrated a commitment to product improvement and resonates well with our audience. It's a testament to the unwavering energy of our prized employees, contractors and partners. This quarter delivered more success for our current focus product, Le Mans Ultimate, fresh from a record-breaking month in June, the title exited the Steam Early Access program into a full release on July 22. This delivered another record high concurrent and daily active user counts. What is particularly pleasing about these numbers is that they were achieved outside of the noise and fanfare of the real-world 24 hours of Le Mans. Players were strongly and actively engaged in what our game offered and we're not just reacting to the licensed event upon which our game is based. We believe this bodes well for our future product planning, which I will touch on shortly. Since then, our player engagement has remained higher as we delivered the first elements of our latest Le Mans Ultimate expansion pack, the licensed European Le Mans series, which runs alongside the real-world championship on which our core game is…

Thank you, Stephen, and good evening, everyone. As with previous earnings calls, I won't be offering any forward-looking guidance today. Instead, I will focus on providing an update on our financial results and highlights from the third quarter of 2025. I will be providing some information shortly on 2 significant milestones that the company achieved during the third quarter of 2025. Revenues for the quarter were $3.1 million, up by $1.3 million or 71.9% when compared to the same period in the prior year. The increase in revenues was primarily due to a $1.8 million increase in 2025 from sales of our Le Mans Ultimate racing title, particularly DLC sales, a $0.4 million increase from RaceControl and a $0.1 million increase in our rFactor 2 title compared to 2024 offset by a $1 million decrease in NASCAR-related revenues, a gaming title we are no longer authorized to sell starting in 2025. With the release of our Le Mans Ultimate title in February 2024, the company has more than made up for the loss of revenues from our NASCAR title, the license to which we sold in October 2023. NASCAR-related revenues were approximately $1 million and $3.5 million during the 3 and 9 months ended September 30, 2024, respectively. In comparison, revenues from our Le Mans Ultimate title were approximately $2.3 million and $5.7 million during the 3 and 9 months ended September 30, 2025, respectively, significantly more than NASCAR-related revenues during the same prior year period. Net income for the third quarter of 2025 was $0.8 million compared to net loss of $0.6 million for the same period in the prior year, an improvement of approximately $1.4 million or 234.1%. The increase in net income is driven by an increase in consolidated revenues of $1.3 million, decreases of $1.3 million…

Thank you, everyone, for joining this call today. We're delighted with the ongoing progress outlined today. For a second consecutive quarter, we've turned to profit from operations and have built a healthy cash reserve off the back of continuing success of our core product, Le Mans Ultimate and the online platform, which supports our ecosystem approach, RaceControl. This puts users first and they are repaying us with enormous support. Base game sales continue at pace, additional content or DLC sales for our game remain very strong and more people are joining our value-adding RaceControl subscription service every month. We're now in active development of a console version of our Le Mans game and believe we are not too far from another major step forward for the company as we become a multi-format developer and publisher. We believe in our future, and I hope you follow our journey. Thank you again for joining this call today. I'll now pass it back to the operator.

[Operator Instructions] And it does appear that there are no questions at this time. This does conclude today's program. Thank you for your participation. You may disconnect at any time, and have a wonderful rest of your day.