GameSquare sees Q2 revenue exceeding $27M

Justin Kenna, CEO of GameSquare stated, “Our strong second quarter top-line results demonstrate the growing success of the platform we have created and a full quarter’s contribution of the March 7, 2024, FaZe Clan Acquisition. Positive sales and deal momentum accelerated throughout the second quarter as the value we provide our brand partners expands and we convert more of our pipeline to sales. As a result, we believe we will achieve between $55 and $60 million in revenue during the second half of 2024. In addition, we expect to show a significant improvement in profitability in the second half of the year, benefitting from higher sales, expanded gross margin, and continued operating expense reductions. As a result, we believe we are well positioned to achieve our 2024 guidance. The first half of 2024 was an exceptionally busy period that included multiple non-core asset sales, and the acquisition and integration of FaZe Clan. As a result, we have upgraded our infrastructure, simplified our business model, reduced our cost structure and strengthened our balance sheet. GameSquare has never been in a stronger position, and global brands are taking notice of the valuable platform we have created. I am extremely excited by the direction we are headed and want to thank everyone at GameSquare for their hard work and dedication throughout the year. I look forward to providing additional details on our success and outlook when we report final second-quarter results in the coming weeks.”