GameSquare Esports posts $6.7M loss in H1 2022
by Adam Fitch ·
Esports parent company GameSquare Esports has shared its financial performance for the first half of 2022.
Brass tacks: The following is for the six months ending June 30, 2022.
- Revenue of $11.7M across its several companies for the first half of the year.
- Operating expenses totalled $11.2M for the period, including $5M in salaries and management & consultation fees.
- Comprehensive loss of $6.7M for the period, an improvement upon the $10.5M loss it made for the same period in 2021.
The company: "GameSquare is emerging as a one-stop shop to connect global brands with fans," believes CEO Justin Kenna.
- While perhaps best known as the parent company of veteran esports organization Complexity Gaming, GameSquare's portfolio is quite diverse.
- In addition to Complexity, it owns gaming marketing agency Zoned Gaming, esports talent agency Code Red, media company GCN, and production studio Fourth Frame Studios.
- In this financial report, GameSquare states that it's moving "closer to profitability" and counts the TimTheTatman Tailgate as one of the "largest events of its kind" in esports and the "first-ever hosted by an individual creator."
- "We believe the GameSquare family of companies are at the intersection of culture, commerce, and investment and I am excited by the positive momentum underway across our business," said Kenna.