Finances  ·  Esports

Enthusiast Gaming loses $21.6M in H1 2022

by Adam Fitch · ${ (new Date("2022-08-15T21:12:00+00:00")).toLocaleString(userLocale, { timeZone: userTimezone, dateStyle: "short", timeStyle: "short" }) }}
Updated ${ (new Date("2022-08-15T22:11:02+00:00")).toLocaleString(userLocale, { timeZone: userTimezone, dateStyle: "short", timeStyle: "short" }) }}
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Enthusiast Gaming loses $21.6M in H1 2022
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Canadian gaming and esports company Enthusiast Gaming has revealed its financial results for the first half of 2022.

Brass tacks: The following are for the quarter and half ending June 30, 2022.

  • Revenue of $39.6M ($51.1M CAD) for the quarter and $71.5M ($92.3M CAD) for the half.
  • Gross profit of $11.9M ($15.3M CAD) for the quarter and $22.3M ($28.8M CAD) for the half.
  • Total operating expenses of $22.5M ($29.1M CAD) for the quarter and $41.7M ($53.9M CAD) for the half.
  • Net loss of $13.1M ($16.9M CAD) for the quarter and $21.6M ($27.9M CAD) for the half.

The company: It lost $8.6M in the first quarter of the year.

  • Enthusiast Gaming is behind competitive gaming brand Luminosity, Call of Duty League franchise Seattle Surge, and Overwatch League brand Vancouver Titans.
  • Its main business is in media. Companies in its portfolio include Destructoid, PC Invasion, Upcomer, Escapist, Sims Resources, Addicting Games, and Siliconera.
  • It counts renewals or new deals with the likes of adidas, the U.S. Navy, HBO Max, LEGO, Toyota, and Logitech as highlights for Q2 2022.
  • The report also notes expanding Luminosity into new titles (Apex Legends, Halo Infinite, and Rocket League) and hosting Pocket Gamer Connects Seattle in May as additional highlights.