Very close to being profitable. Revenue from sales is less (typically not a great indicator), but cost of sales is reduced as well as SG&A, so the business is more efficient. Hence improved overall.
Cash position very similar to last year.
All in all this isn’t bad result.
Descressing sales is a concern, but hard to really understand without more detailed info. While it could mean your competition has taken market share, it could also mean better focus on more profitable products.
People are also spending less as economic concern are in the air.
Their cash reserves are now making decent returns on t bills, which is good while they are figuring out/working on the next play.
I recently visited a store in a mall and it was not looking well. I wanted to buy physical used copies for console but selection was weak.
I guess they will be e-commerce first company but I do have they update store format and continue to carry physical media. Its a niche market but I think gamers might trying to go back to disk in current SaaS bullshit environment.
