The following is a summary of the GameSquare Holdings, Inc. (GAME) Q4 2024 Earnings Call Transcript:
Financial Performance:
GameSquare witnessed a substantial rise in its total revenue for 2023, registering an 85.2% increase to reach $52.0 million, driven largely by the acquisition of Engine Gaming.
Gross margin for 2023 was $13.4 million or 25.9% of sales, a drop from 34.4% in 2022.
The company reported an adjusted EBITDA loss of $15 million in 2023, a slight increase compared to the loss of $13.2 million in 2022.
GameSquare predicts that it will surpass $100 million in annual revenue in 2024 with an annual gross margin range of 22.5% to 27.5%.
Business Progress:
In 2023, GameSquare completed five acquisitions and divested two non-core assets, increasing its capability and scale.
The company established partnerships with Mastercard, Samsung, Six Flags, and Coca-Cola, advancing its 'world-building capabilities.'
GameSquare sold non-core businesses totaling approximately $13 million and raised about $13.8 million in non-dilutive capital while also collecting $10 million from shareholders.
The company predicts a pro forma annual revenue of over $100 million for 2024, taking into account the full year's contribution from the recently acquired FaZe Clan.
More details: GameSquar IR
Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.