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GameSquare Announces Preliminary Q2 2024 Results and Business Update

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GameSquare Holdings, Inc. (NASDAQ: GAME) has released preliminary financial results for Q2 2024, projecting revenue above $27 million. The Company remains confident in its 2024 annual guidance, forecasting proforma revenue to surpass $100 million with gross margins between 22.5% and 27.5%.

CEO Justin Kenna highlighted the success of the FaZe Clan acquisition in March 2024, which contributed significantly to the company's revenue. GameSquare anticipates achieving $55-$60 million in revenue for H2 2024 and expects improved profitability through higher sales, expanded gross margins, and reduced operating expenses.

The preliminary revenue breakdown includes $12 million from Owned and Operated IP, $13 million from Agency + Media, and $2 million from SaaS. Management predicts $18 million in annualized cost savings from the FaZe Clan acquisition, which will impact Q2 and Q3 2024 positively.

GameSquare plans to announce final Q2 results on August 14, 2024, followed by a conference call to discuss the financial outcomes and future outlook.

R. P.

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