GameSquare Holdings Announces Record Third Quarter 2024 Results

GameSquare Holdings, Inc. reported a record revenue of $26.4 million for the third quarter of 2024, marking a 10% year-over-year increase compared to proforma figures from 2023. This positive outcome is attributed to the company's growth strategies and cost reduction initiatives, leading to an adjusted EBITDA loss reduction to $2.2 million.

The company expects the full-year revenue for 2024 to range between $105 million and $110 million, driven by strategic acquisitions and an improved gross margin. CEO Justin Kenna highlighted the company's efforts in integrating acquisitions and advancing towards profitability.

GameSquare also strengthened its financial standing by securing a $10 million convertible note, enhancing flexibility for growth opportunities. The firm reported a significant reduction in operating expenses alongside an increase in gross profit, underscoring robust business momentum as more brands engage with their media platform.