Annual revenue increased over 160% to an annual record of $28.1 million
Provides timetable for 2023 first quarter release and combined company pro-forma 2023 guidance
TORONTO, ON / ACCESSWIRE / May 2, 2023 / GameSquare Holdings, Inc. ("GameSquare", or the "Company") (NASDAQ:GAME)(TSXV:GAME) announced that GameSquare Esports, Inc. has filed its standalone financial results for its fourth quarter ended December 31, 2022. GameSquare Esport's fourth quarter financial results do not include the April 10, 2023 arrangement with Engine Gaming and Media, Inc. ("Engine Gaming"). The Company plans to issue first quarter financial results for GameSquare Esports, which will include a pro-forma income statement of the combined company and expectations for the remainder of 2023, and host a conference call during the week of May 15, 2023. The Company expects to file its second quarter 2023 consolidated financial statements for the combined entity, in August of 2023.
"I am very pleased with the progress we made in 2022 as we grew revenue over 160 percent, while comparable period expenses grew by only 13 percent (including one-time expenses), invested in our business, added new capabilities, and worked to complete the merger with Engine Gaming. 2022 revenue was in line with our increased guidance, reflecting the positive trends underway across our business," said Justin Kenna, CEO of GameSquare Holdings, Inc.
"The integration of GameSquare and Engine Gaming is well underway and I look forward to updating investors on the progress we are making on our call in mid-May. I want to thank everyone at GameSquare for all their hard work, as we focus on successfully integrating the merger, reducing expenses, growing revenue, and increasing overall value for our shareholders," concluded Mr. Kenna.
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SOURCE: GameSquare Holdings, Inc.
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