SCOTTSDALE, AZ, Jan. 25, 2024 (GLOBE NEWSWIRE) — Signing Day Sports, Inc. (“Signing Day Sports” or the “Company”) (NYSE American: SGN), the developer of the Signing Day Sports app and platform to aid high school athletes in the recruitment process, today provided an update on its holistic approach to student-athlete wellbeing, diversification of its revenue sources, and significant subscriber growth.
Craig Smith, Chief of Development of Signing Day Sports, stated, “We believe a holistic view of student-athlete wellbeing is important in the sports industry and, as such, helps maintain the Company’s key student-athlete recruitment relationships, which are contributing to significant subscriber growth. Our revenue sources currently include flat-fee event registrations and monthly subscriptions. Related to this holistic view, we plan to extend our revenue sources into a comprehensive line of services to support student-athletes through every step of the process. As we diversify and innovate, we are excited about the positive impact this will have on the communities that we serve.”
“Looking to the future, we are optimistic about enhancing both our platform and user experience through the introduction of new products and services. This expansion includes retail items, with planned upcoming launches of branded apparel, nutritional supplements, and other related products and services. Additions like these are expected to create new revenue streams for Signing Day Sports and further deepen the connections we have within our community of users. We are also focused on expanding our relationships with important student-athlete recruitment organizations, such as our collaborations with The U.S. Army Bowl and Elite Development Program Soccer, which we anticipate will continue to lead to significant bulk sign-ups on our app. We view these relationships as key contributors to the long-term growth and financial stability of the Company,” Smith concluded.
Richard Symington, President, and Chief Technology Officer of Signing Day Sports, commented, “Our holistic recruitment strategy and income diversification plans, along with our commitment to ongoing innovation, underscore the strength of our business model. We believe our approach sets us apart from others in the industry and look forward to welcoming more student-athletes to our platform and user community.”
About Signing Day Sports
Signing Day Sports’ mission is to help student-athletes achieve their goal of playing college sports. Signing Day Sports’ app allows student-athletes to build their Signing Day Sports’ recruitment profile, which includes information college coaches need to evaluate and verify them through video technology. The Signing Day Sports app includes a platform to upload a comprehensive data set including video-verified measurables (such as height, weight, 40-yard dash, wingspan, and hand size), academic information (such as official transcripts and SAT/ACT scores), and technical skill videos (such as drills and mechanics that exemplify player mechanics, coordination, and development). For more information on Signing Day Sports, go to https://ir.signingdaysports.com/overview/default.aspx.
Forward-Looking Statements
This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “may,” “could,” “will,” “should,” “would,” “expect,” “plan,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “project” or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties and other factors, including without limitation, the Company’s ability to realize the expected benefits of its collaboration with the owner of the U.S. Army Bowl and with Elite Development Program Soccer, the ability of the collaborations to yield significant revenues or other value for the Company, the Company’s ability to execute the collaboration strategy as expected, the likelihood that the owner of the U.S. Army Bowl and that Elite Development Program Soccer will agree to continue their sponsorship and strategic alliance agreements with the Company following the end of their current terms in December 2024 and October 2024, respectively, the number of student-athletes who will use and purchase subscriptions to the Company’s app through the Company’s U.S. Army Bowl and Elite Development Program Soccer collaborations, the Company’s ability to obtain additional funding to develop additional services and offerings, including planned retail offerings such as branded apparel and nutritional supplements, market acceptance of the Company’s current services and planned offerings, competition from existing online offerings or new offerings that may emerge, impacts from strategic changes to our business on our net sales, revenues, income from continuing operations, or other results of operations, the Company’s ability to attract new users and customers, increase the rate of subscription renewals, and slow the rate of user attrition, the Company’s ability and third parties’ abilities to protect intellectual property rights, the Company’s ability to adequately support future growth, the Company’s ability to comply with user data privacy laws and other current or anticipated legal requirements, and the Company’s ability to attract and retain key personnel to manage its business effectively. These risks and uncertainties are, in some cases, beyond our control and could materially affect results. If one or more of these risks or uncertainties occur, or if our underlying assumptions prove to be incorrect, actual events or results may vary significantly from those implied or projected by the forward-looking statements. No forward-looking statement is a guarantee of future performance. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.
Investor Contacts:
Crescendo Communications, LLC
212-671-1020
SGN@crescendo-ir.com
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