Guild Esports posts $6.1M loss in latest financial report

British organization Guild Esports has announced its financial results for the six-month period ending March 31, 2022.

Brass tacks: The org is perhaps best known for its ties with former footballer David Beckham.

• Total revenue of $1.3M (£1.09M GBP) and a gross profit of $0.86M (£0.71M GBP) for the period.
• Its biggest financial win was closing a sponsorship deal with Bitstamp worth $5.5M (£4.5M GBP) over three years.
• Guild posted a pre-tax loss of $6.1M (£5M GBP) citing investments in teams and operational staff, corporate infrastructure, content creation, and building out its academy system.

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The company: Guild gave some context for its performance over the six months.

• In its interim management report, the organization revealed that it has cut approximately 15 staff members since March 31 due to the "growing global economic uncertainty and challenging capital market conditions."
• Sponsorships are undoubtedly the biggest sources of revenue for Guild and it has stated that it has approximately 30 prospective deals in negotiations, several of which are in advanced stages. It's looking to add to its roster of Bitstamp, Subway, Samsung, HyperX, and Razer.
• It launched its headquarters in London on June 2, having signed a 10-year lease for the property as announced in January. This will also serve as a base for the Guild Academy program which aims to help aid budding competitors aged 11 and above.