Record monthly contract wins were driven across all operating segments, including higher margin sales within the Company's Agency, IP, and Teams segments
FRISCO, TX / ACCESSWIRE / September 10, 2024 / GameSquare Holdings, Inc. (NASDAQ:GAME), ("GameSquare", or the "Company"), a next generation media company with roots in gaming and creator entertainment, today announced it closed over $14 million of new contracts in August 2024, representing a record month of new business development for GameSquare. Contract wins were to new and existing customers and are expected to contribute to revenue in 2024 and 2025. New contracts in August were across GameSquare's operating segments and reflect the Company's strategic focus on developing multi-year and higher-margin revenue opportunities.
"After growing pro-forma revenue by 22% in the 2024 second quarter, momentum across our business has remained strong and we ended August 2024 with record new monthly contract wins. I believe these positive trends reflect the growing success of the next-generation media platform we have created, strong execution across our global teams, and expanding demand for our services," stated Justin Kenna, GameSquare's CEO. "The amount of multi-year revenue is especially encouraging as more brands are pursuing long-term relationships. This reflects strategies underway to develop a more predictable backlog of revenue."
Mr. Kenna continued: "The mix of contracts in August was primarily focused on higher-margin areas of our business, including our Agency, IP and Teams segments. As a result, we believe we are well positioned for gross margin to expand on a sequential and year-over-year basis in the second half of 2024."
Record new contracts for the month of August 2024 of over $14 million, were driven by growing demand across GameSquare's operating segments. Highlights include:
New brand partnerships with TopGolf and Dairy Max,
A new agency partnership with 5-Hour ENERGY®,
FaZe Clan Esports largest esports winning of over $2 million at the inaugural Esports World Cup,
FaZe Clan Esports' multi-year, expansion of a multi-million-dollar sponsorship deal with Rollbit, and
A new multi-year, multi-million-dollar sponsorship and licensing deal between FaZe Media and G FUEL.
About GameSquare Holdings, Inc.
GameSquare's (NASDAQ:GAME) mission is to revolutionize the way brands and game publishers connect with hard-to-reach Gen Z, Gen Alpha, and Millennial audiences. Our next generation media, entertainment, and technology capabilities drive compelling outcomes for creators and maximize our brand partners' return on investment. Through our purpose-built platform, we provide award winning marketing and creative services, offer leading data and analytics solutions, and amplify awareness through FaZe Clan, one of the most prominent and influential gaming organizations in the world. With one of the largest gaming media networks in North America, as verified by Comscore, we are reshaping the landscape of digital media and immersive entertainment. GameSquare's largest investors are Dallas Cowboys owner Jerry Jones and the Goff family.
To learn more, visit www.gamesquare.com.
Corporate Contact
Lou Schwartz, President
Phone: (216) 464-6400
Email: ir@gamesquare.com
Investor Relations
Andrew Berger
Phone: (216) 464-6400
Email: ir@gamesquare.com
Media Relations
Chelsey Northern / The Untold
Phone: (254) 855-4028
Email: pr@gamesquare.com
SOURCE: GameSquare Holdings, Inc.
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