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OG Esports Reports € 3 Million Losses in 2024
OG Esports has released their financial statement for the year 2024 and it is not looking good. The organization lost nearly 3 million euros, due to rising operating costs and weaker performances across gaming titles.
Dedicated readers can check out the full 32 page document here. But for those who are short on time, we'll summarize all you need to know here.
OG losses in Dota 2 have severely hurt the company
The organization rose to prominence with their commitment to Dota 2. That worked well for the company when they won multiple Majors in a row, along with two International titles back-to-back.
But OG's Dota 2 branch has faltered in recent years, mostly in the last two.
After releasing their star player, Ammar "ATF" Al-Assaf in 2022, OG never regained the same presence in international events. They didn't crack top three at any tournament, and their biggest pay day was a 14th place finish at Riyadh Masters.
2024 was a harsh time for the company. They not only continued to struggle in events, but some tournaments had smaller prize pools. Despite making it to top 12 in Riyadh Masters, the shrinking prize pool means they only took home USD $100,000 home, half of what they received in 2023.
I'm not a financial expert, but a quick look at their statement shows that OG's income received several blows in 2024. Apart from their gaming titles, they also suffered in their investments. They made nearly €360,00 in 2023, but lost €88,000 in 2024. That's a € 448,000 swing. But it's not only reduced income that hurt OG.
OG has lost 75% of their assets
Running a business essentially comes down to making more money than you spend. It sounds easy but anyone who has tried to run any sort of team knows it's not.
We know that OG wasn't making much money in 2024, but that's only half the problem. The other half was sky-rocketing expense on the organization.
The first was staff costs. It was € 1.86 million in 2023, but nearly doubled to € 3.1 million the following year. Due to investing in other Esports titles, such as Rocket League. OG had to recruit players, coaches, and equipment for their staff. And that's not including the additional €430,000 added in 2024.
All in all, OG lost € 980,000 in 2023, and nearly tripled that to €2,833,400 last year. That is no easy debt to incur.
And debts must be paid. OG has had to dip into their savings to keep the company afloat and those savings are starting to run out. Despite having nearly € 4 million in 2024, the company is down to €776,000 in 2024. This has reduced the overall company value from € 6.2 million to € 1.5.
It's a lot of numbers to throw at you dear readers, but essentially, OG's worth at the end of 2024 is about a quarter of what it was as 2023. It's sad news to write but hopefully 2025 can turn things around.
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