ESE Entertainment posts $6.9M loss in Q3 2022

Gaming and technology company ESE Entertainment has shared its financial performance for Q3 2022.

Brass tacks: The following results are for the three months ending July 31, 2022.

• Revenue of $11.6M (CAD $15.9M).
• Total expenses of $8.6M (CAD $11.8M), including $678K (CAD $929K) in wages and benefits and $6.2M (CAD $8.5M) in share-based payments. It's worth noting that the shared-based payments relate to acquisition costs.
• Net loss of $6.9M (CAD $9.5M) for the period.

The company: It has plenty on its plate.

• It produces esports events for publishers, including work on Ubisoft's Rainbow Six Siege in Europe.
• As well as owning European esports organization K1CK, its portfolio includes fan engagement company WPG, media and production company Frenzy, motorsport games tech company Virtual Pitstop, sim racing solutions provider Digital Motorsports, and gaming advertisement company GameAddik.
• "Traditionally, summer is one of the slowest periods of the year for gaming," said CEO Konrad Wasiela. "ESE was still able to achieve another record quarter and continue its operational momentum."