Management expects over $100 million in annual revenue and annual gross margin to range between 22.5% to 27.5% for 2024
FaZe Media, a GameSquare Company, Announces New Multi-Year, Multi-Million Dollar Sponsorship and Licensing Deal with G Fuel
GAME just joined the Russell Microcap This Summer
GameSquare Holdings Reports Record 2024 Second Quarter Results
GameSquare’s largest investors are Dallas Cowboys owner Jerry Jones and the Goff family
READ THE INVESTOR PRESENTATION HERE
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Hello Everyone,
We have a brand new profile for you to take a look at heading into Tuesday’s session.
This is a company that is sitting at that critical $1 level right now.
Pull up GAME (GameSquare Holdings) right away and start your research on it.
GAME’s mission is to revolutionize the way brands and game publishers connect with hard-to-reach Gen Z, Gen Alpha, and Millennial audiences. Their next generation media, entertainment, and technology capabilities drive compelling outcomes for creators and maximize our brand partners’ return on investment. Through their 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, they are reshaping the landscape of digital media and immersive entertainment. GameSquare’s largest investors are Dallas Cowboys owner Jerry Jones and the Goff family.
GameSquare Holdings Reports Record 2024 Second Quarter Results
Q2 2024 proforma revenue increased 24% YoY and expanded 22% QoQ to a quarterly record of $28.6 million, reflecting value of operating enhanced platform and success of growth initiatives
Q2 2024 proforma adjusted EBITDA loss improves significantly YoY and QoQ to $5.4 million, demonstrating benefits of growth strategies and cost reduction initiatives
$2.5 million sequential improvement in proforma adjusted EBITDA, supports efforts to reach profitability by the fourth quarter of 2024 as the Company expects further revenue growth, higher gross margin and additional operating cost reductions to benefit Q3 and Q4 results
FRISCO, TX / ACCESSWIRE / August 14, 2024 / GameSquare Holdings, Inc. (NASDAQ:GAME), (“GameSquare”, or the “Company”), today announced its financial results for the three and six-months ended June 30, 2024.
Justin Kenna, CEO of GameSquare, stated, “GameSquare delivered strong growth and record quarterly revenue, demonstrating the benefits of the next generation media platform we have created. Second quarter revenue of $28.6 million increased 22% over proforma revenue for the 2024 first quarter, as we continue to focus on integrating the FaZe Clan acquisition, and benefit from accelerating momentum across many areas of our business. Highlights for the quarter include expanding demand for our Unreal Editor for Fortnite (UEFN) world building creative services, and FaZe Media’s reboot and new creator roster, which garnered over 1.2 billion views during the quarter, a 28% increase over the past three months. FaZe Clan’s engaged community, combined with GameSquare’s technology assets, and media and creative services, has developed a powerful platform that provides global brands with significant value. As a result, we are seeing more demand for our offerings and expect to achieve between $55 and $60 million in higher-margin revenue during the second half of 2024.”
“During the second quarter, we pursued initiatives aimed at optimizing our business model and driving efficiencies across our business, which resulted in a $2.5 million improvement over the past three months in proforma adjusted EBITDA. In addition, throughout 2024, we have strengthened our balance sheet by raising over $36 million of non-dilutive capital, raised $6.5 million of capital through a paid advance agreement with Yorkville Advisors Global, and repaid the balance of our $5.7 million senior secured convertible note. We believe GameSquare has never been in a stronger financial position. As we look to the second half of the year, we are extremely excited by the direction GameSquare is headed. We believe our recent results reflect a clear path to reach positive adjusted EBITDA by the fourth quarter, supported by additional revenue growth, higher gross margin, and further operating cost reductions in the second half of the year,” concluded Mr. Kenna.
Reported results for the second quarter ended June 30, 2024, compared to June 30, 2023
- Revenue of $28.6 million, compared to $11.4 million
- Gross profit of $4.2 million, compared to $2.8 million
- Net loss of $12.0 million, compared to a net loss of $4.1 million
- Adjusted EBITDA loss of $5.4 million, compared to a loss of $3.3 million
Proforma* results for the second quarter ended June 30, 2024, compared to June 30, 2023
(unless otherwise noted)
- Revenue of $28.6 million, compared to $23.1 million
- Gross profit of $4.2 million, compared to $4.6 million
- Operating expenses of $10.0 million, or 35.1% of revenue, compared to $14.7 million or 63.6% of revenue last year
- Adjusted EBITDA loss of $5.4 million, compared to a loss of $10.0 million last year, and a loss of $7.9 million for the quarter ended March 31, 2024
- Adjusted EBITDA loss was 18.9% of revenue versus 43.5% of revenue last year, and 33.7% of revenue for the quarter ended March 31, 2024
* Proforma financial results includes a full quarter contribution of FaZe Clan in the 2024 periods, and includes a full quarter contribution of Engine and FaZe Clan in the 2023 periods.
Reported results for the six months ended June 30, 2024, compared to June 30, 2023
- Revenue of $46.3 million, compared to $14.2 million
- Gross profit of $7.6 million, compared to $4.1 million
- Net loss of $17.3 million, compared to a net loss of $8.4 million
- Adjusted EBITDA loss of $9.5 million, compared to a loss of $4.8 million
Proforma* results for the six months ended June 30, 2024, compared to June 30, 2023
- Revenue of $52.1 million, compared to $47.2 million
- Gross profit of $7.9 million, compared to $8.6 million
- Operating expenses of $21.6 million, or 41.5% of revenue, compared to $32.9 million or 69.8% of revenue last year
- Adjusted EBITDA loss of $13.3 million, compared to a loss of $24.3 million
- Adjusted EBITDA loss was 25.6% of revenue versus 51.5% of revenue last year
* Proforma financial results includes a full year-to-date contribution of FaZe Clan in the 2024 period, and includes a full year-to-date contribution of Engine and FaZe Clan in the 2023 period.
2024 Annual Guidance
- Management expects over $100 million in annual revenue and annual gross margin to range between 22.5% to 27.5% for 2024
- 2024’s annual guidance is based on a proforma basis and includes a full 12 months of contribution from FaZe Clan, which was acquired on March 7, 2024
- When comparing the second quarter of 2024 and 2023 results of Faze Clan, the Company has removed approximately $18 million of annualized costs, and expects to remove additional costs during the second half of 2024
- Management anticipates continual quarterly improvements to profitability throughout 2024 supported by sales growth, gross margin improvement, and the benefit of cost saving initiatives
FaZe Media, a GameSquare Company, Announces New Multi-Year, Multi-Million Dollar Sponsorship and Licensing Deal with G Fuel
G FUEL partnership is one of the largest transactions in GameSquare’s history
FRISCO, TX / ACCESSWIRE / September 3, 2024 / FaZe Media, one of the most prominent and influential gaming organizations in the world, and subsidiary of GameSquare Holdings, Inc. (NASDAQ:GAME), (“GameSquare”, or the “Company”), today announced a new multi-year, multi-million-dollar sponsorship and licensing deal with G FUEL, the top energy drink brand for gamers and creators. FaZe Media will receive an equity component in G FUEL as part of the contract. This new multi-million-dollar partnership is one of the largest transactions in GameSquare’s history, adding predictable revenue to the Company’s growing backlog.
To kick off the partnership, G FUEL will be the presenting sponsor for the FaZe Clan Subathon, a month-long streaming marathon running throughout September 2024. This event will set the tone for the collaboration, showcasing the power of user generator content and the influence of FaZe Clan’s creators. FaZe Media and G FUEL will also host in-person events and launch co-branded products throughout the partnership to further solidify the synergy between energy drinks and gaming culture.
“We are thrilled to partner with G FUEL and reunite these two brands that have played such a critical role in the rise of gaming and youth culture. In fact, G FUEL was FaZe Clan’s first-ever partner and sponsored the original content house. Today’s announcement is a direct result of the successful reboot of FaZe Clan under FaZe Banks’ leadership and the power of GameSquare’s platform. We are excited by the opportunities this new partnership with G FUEL represents,” stated Justin Kenna, GameSquare’s CEO.
“I’ve always felt that the original G FUEL and FaZe partnership was best-in-class, so it’s exciting to work with Banks and the FaZe team to reignite this collaboration and deepen our relationship within our diverse community of fans, customers, creators, and partners. This comes at a perfect time; with FaZe pushing boundaries and nurturing the next generation of content creators, we are continuing to innovate with new products and categories to meet the needs of our evolving customer base. As our partnership takes shape, we’re excited to drive engagement across the global gaming and creator communities,” said G FUEL CEO Bryan Crowley.
“As we focus on reconnecting with our roots, this partnership represents more than just a business deal-it’s a revival of the legendary history from the OG FaZe days. We’re excited to kick off this new chapter with G FUEL and look forward to creating content and new products together,” said FaZe Banks, CEO of FaZe Media.
G FUEL has a strong record of successful creator partnerships, crafting authentic, trend-setting formulas for gaming culture enthusiasts. This collaboration builds on a celebrated lineup of influencer-driven creations, including hits like Jynxzi, PewDiePie, Ninja, Butters, FaZe Rug, and more, paving the way for future product launches and giveaways. An early adopter, G FUEL continues to be a leader in bringing communities the best products, collectibles, and experiences for pop culture, gaming, and lifestyle enthusiasts.
The partnership emphasizes a strategic focus on content from FaZe Media’s renewed talent roster, which has been attracting rapidly growing audiences with live streaming viewership tripling in July 2024 (Stream Hatchet). The formation of FaZe Media put control back in the hands of its creators and, after a historic relaunch in April 2024, the brand’s content and community has been reignited. By partnering with G FUEL, FaZe’s talent aims to prioritize fan engagement through authentic and organic creativity.
About FaZe Clan
FaZe Clan is one of the most prominent and influential gaming organizations in the world. Created by gamers, for gamers, FaZe began in 2010 by a group of internet kids who turned their passion into a successful career path and formed a die-hard community along the way. Today, FaZe Clan represents a vast roster of creators who aim to inspire the next generation in making their dreams a reality.
FaZe operates across multiple verticals designed to reimagine gaming, sports, culture and entertainment. FaZe has partnered with blue-chip brands such as Porsche, GHOST® and McDonald’s, and record-breaking fashion and lifestyle collaborations featuring Nike, Takashi Murakami, Lyrical Lemonade and more – all centered around its top-tier talent collective with gaming rooted at the core. Reaching over 240M followers across social platforms globally, FaZe’s roster consists of world-class gamers, streamers, content creators and esports professionals known for delivering disruptive, original content and its gaming division houses 10+ competitive esports teams.
For more information, visit www.fazeclan.com, and follow FaZe Clan on Twitter, Instagram, YouTube, TikTok, and Twitch.
About G FUEL
G FUEL is a game-changing, performance-driven alternative to standard energy and hydration products. Founded in 2012, G FUEL boasts an expansive, Zero Sugar product lineup that includes its signature Energy Formula in powder tub, stick packs and ready-to-drink cans, a powderedEnergy + Protein Formula and powdered Hydration Formula. G FUEL maintains the industry’s largest and most passionate community of fans, with a global social media footprint of over 500 million followers and product distribution to over 125 countries. Thanks to its years of proven success and resonance in gaming and entertainment, G FUEL has forged iconic partnerships with pop culture creators, professional athletes, major game publishers and internationally-recognized entertainment studios.
Zoned, a GameSquare Company and 5-Hour ENERGY(R) Partners to Host First-Ever Fortnite Streamer Community Competition
Fans have the chance to represent their favorite streamer in Flavor Wars and win a $10,000 cash prize
FRISCO, TX / ACCESSWIRE / August 13, 2024 / Zoned, a GameSquare (Nasdaq:GAME) company and 5-hour ENERGY® partner to host Flavor Wars, a streamer community competition, to celebrate Fortnite’s 230 million monthly active players and its cultural phenomenon status. This pinnacle move in mainstream gaming culture gives fans the opportunity to level up their skills and represent their favorite streamer to battle it out for a $10,000 cash prize and bragging rights as the ultimate gaming fanbase.
Since gaming audiences prefer interactive and native ways of brand engagement over traditional ads, this new experience engages gamers in an innovative way that intersects one of the most popular digital game with the number one selling energy shot in the United States. 5-hour ENERGY’s® entry into Fortnite comes as the gaming industry is leveling up in scale of the audience and cultural impact, as research by Newzoohas found that 72% of 35-54s and 46% of over 55s game at least once a week.
“We understand the intense focus and energy required for competitive gaming,” said Jeff Sigouin, President and COO of Living Essentials, LLC, makers of 5-hour ENERGY®. “Flavor Wars is our way of fueling that passion and giving our consumers a truly unique way to compete with their favorite streamers and show off their Fortnite skills.”
The Flavor Wars custom Unreal Editor for Fortnite (UEFN) map launches Tuesday, August 13 at 10:30 a.m. PST. Fans will compete battle royale-style in a custom-built map by Zoned, divided into three distinct zones representing the 5-hour ENERGY® Gamer Shot flavors: Apple Bash, Pineapple Charge and Rocket Raspberry.
Each representing their favorite flavor from the Gamer Shot variety pack, team captains and popular Fortnite streamers CouRage, LEGIQN and Sparkles_QT, will lead teams of five through 12 rounds in a high-stakes ‘Zone Wars’ game mode. During rounds, players can collect in-game 5-hour ENERGY® power-ups to enhance specific in-game abilities, giving them a competitive edge. The winning team will not only claim the grand prize, but also solidify their status as the ultimate gaming champions.
“Zoned is thrilled to partner with 5-hour ENERGY® to create the Flavor Wars UEFN map and competition. Our goal is to give back to the gaming community, adding value to one of the most popular Fortnite game modes, Zone Wars, by giving players new mechanics to explore!” said Kyle Hurder, Account Director at Zoned. “The Flavor Wars map and 5-hour ENERGY® are part of the ever-growing Fortnite ecosystem, here to amplify the gaming experience and supercharge skills with Gamer Shots!”
To join the Flavor Wars, search “Flavor Wars” or search map code 9664-6397-4487 into the Fortnite search bar. Watch the competition unfold on the participating streamers’ Twitch channels starting August 13. 5-hour ENERGY’s® Gamer Variety Pack, featuring Apple Bash, Pineapple Charge, and Rocket Raspberry flavors, is available online now.
About 5-hour ENERGY®
Living Essentials launched its 5-hour ENERGY® brand in 2004. The effective formula is found in its iconic shot and a 16-ounce carbonated drink. Trusted by hard-working people to get them through a hectic day, 5-hour ENERGY® products are widely available in convenience, grocery, retail, club stores, and online outlets. 5-hour ENERGY® shots are not intended for consumption by minors.
NEWS
09/04/2024
GameSquare to Present at the 26th Annual H.C. Wainwright Global Investor Conference
09/03/2024
08/29/2024
08/26/2024
08/14/2024
GameSquare Holdings Reports Record 2024 Second Quarter Results
08/13/2024
08/08/2024
Zoned, a GameSquare Company, Announces New Project Wins Under New President
08/07/2024
GameSquare to Report Q2 2024 Financial Results on August 14, 2024
08/06/2024
GameSquare and the NFL Partner to Launch New Traveling Creator Series “NFL 4 THE FANS LIVE”
07/31/2024
GameSquare’s Stream Hatchet Publishes 2024 Second Quarter Report
07/22/2024
GameSquare Clarifies July 18, 2024 Form S-1 Filing
07/10/2024
GameSquare Announces Preliminary Second Quarter 2024 Results and Provides Business Update
07/09/2024
06/26/2024
Stream Hatchet, a GameSquare Company, Announces Riot Games Renewal and Expansion
06/18/2024
GameSquare Sells 25.5% Interest in FaZe Media for $9.5 Million
06/14/2024
06/03/2024
GameSquare Sells Non-Core Content Management Software and PR Media Distribution Assets
05/29/2024
05/20/2024
GameSquare Holdings Reports 2024 First Quarter Results
05/17/2024
GameSquare to Report Q1 2024 Financial Results on May 20, 2024
05/16/2024
05/02/2024
GameSquare’s Stream Hatchet Publishes 2024 First Quarter Report
04/30/2024
04/16/2024
GameSquare Holdings Reports 2023 Results
04/11/2024
GameSquare to Report Q4 2023 Financial Results on April 16, 2024
03/28/2024
GameSquare Announces Completion of Voluntary Delisting from the TSXV on March 28, 2024
03/22/2024
GameSquare Announces Voluntary Delisting from the TSXV
03/21/2024
FaZe Clan is Building a Licensing Empire at Retailers Across the Nation
03/14/2024
03/12/2024
GameSquare to Participate at the 36th Annual ROTH Conference
03/08/2024
GameSquare Announces Completion of Faze Clan Acquisition
03/04/2024
GameSquare Completes Sale of Complexity Gaming
03/01/2024
02/29/2024
GameSquare Celebrates Multiple World-Building Activations During the 2024 First Quarter
02/27/2024
GameSquare Receives Stockholder Approval for Merger with FaZe Holdings
02/15/2024
GameSquare’s Stream Hatchet Publishes 2023 Yearly Report
02/14/2024
GameSquare Announces Special Meeting of Stockholders to Vote on Plan of Merger with FaZe Holdings
01/31/2024
01/25/2024
01/11/2024
GameSquare and Stream Hatchet Reveal the Top Gaming and Live Streaming Trends Report for 2024
01/02/2024
GameSquare Completes the Sale of Its Non-Core Radio Business Assets
MANAGEMENT TEAM
JUSTIN KENNA – CEO
Experienced executive in gaming, esports, and media. Former CFO at FaZe Clan. Previously at Madison + Vine, Goldman Sachs, Deloitte, and Ernst & Young, and belongs to the Institute of Chartered Accountants.
LOU SCHWARTZ – PRESIDENT
Lou brings more than two decades of experience building and leading global digital technology and media companies, including founder and CEO of Multicast Media, CEO of Total Movie (UUX), and Chief Digital Officer at WWE. Lou is an internationally recognized speaker and expert in new media and monetization.
MICHAEL MUNOZ – CFO
Mike Munoz is an experienced finance executive with 15 years of experience in public accounting and corporate finance and 8 years serving as CFO of various public companies listed on the Nasdaq and TSXV.
TYLER BLEVINS – CIO
Tyler “Ninja” Blevins is one of the most recognizable gaming and entertainment personalities in the world. With more than 74 million fans worldwide on major digital networks, Tyler “Ninja” Blevins became a pop culture phenomenon in 2018, after he streamed on Twitch playing Fortnite alongside rappers Drake, Travis Scott, and Pittsburgh Steelers wide receiver Juju Smith-Schuster.
JOHN WILK – GENERAL COUNSEL
Mr. Wilk’s career spans an appellate judicial clerkship, tenure as a special counsel for Phillips Nizer in the practice areas of entertainment, intellectual property, and new media law, and two decades of experience as in-house counsel for media and technology companies.
MATT EHRENS – CTO
Technology & product leader with a proven track record for efficiently delivering versatile and valuable technical solutions to business challenges. Previously held leadership roles at Scripps Networks Interactive (now Warner Bros. Discovery), AARP, and AOL.
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