Brass tacks: The company posted "record breaking results" in the final quarter of 2021 and management "expect this momentum to carry into 2022 and beyond.”
Enthusiast generated revenue of $133.8M ($167.4M CAD), a sizeable increase from $58.2M ($72.8M CAD) in 2020.
Its cost of sales amounted to $104M ($130M CAD) leaving a gross margin of $30.2M ($37.8M CAD).
Despite the significant increase in revenue, Enthusiast reported a net loss of $41.6M ($52M CAD). It had a net loss of $21.5M ($26.9M CAD) in 2020.
Screenshot: Enthusiast Gaming
Enthusiast's website states it owns over 100 gaming websites & 1,000 YouTube channels, reaching over 300M gamers on a monthly basis.
Operations: It's not cheap to run the "largest gaming property in the United Kingdom and Canada," a title it has claimed following recent Comscore ratings.
Total operating expenses for the year came to $68.2M ($85.3M CAD), a sharp increase from 2020's $28.4M ($35.5M CAD).
The company spent $20M ($25.1M CAD) on salaries and wages and $4.4M ($5.5M CAD) on esports player, team, and game expenses.
Enthusiast's portfolio: The Canadian company has plenty on the go.
In media, Enthusiast Gaming owns and operates a number of gaming publications including Destructoid, PC Invasion, Escapist, and Upcomer — the latter of which laid off the majority of its editorial staff out of the blue earlier in March 2022.
The company has Luminosity Gaming, Overwatch League franchise Vancouver Titans, and Call of Duty League franchise Seattle Surge in its esports team portfolio.
It also runs EGLX, which it describes as the "largest gaming expo in North America," and acquired League of Legends data service U.GG for $45M in November 2021.
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