GameSquare Esports announced that it has updated its revenue guidance for the fourth quarter of 2021 to approximately $7.5 million on the back of its products, monetization, and recurring revenue opportunities. The Toronto-based gaming and esports company noted that this is a significant jump from sales of $2.5 million in the third quarter. GameSquare said its revenue guidance of $28 million for 2022 remains unchanged.
“The progress we have made to provide revenue guidance of $7.5 million for Q4 2021 is a reflection of our stellar people, products, relationships, and relentless attention to monetization throughout the company,” said Justin Kenna, CEO of GameSquare. “We have streamlined our sales processes and have fostered relationships with global brands throughout 2021. This work reinforces our foundation for achieving our revenue guidance of $28 million in 2022. In addition, we have several exciting opportunities to build recurring revenue within our existing business, and we are developing new businesses that are expected to be profitable from the outset. In my view, this is a strong finish to 2021 and a great start to 2022.”
The company said the financial performance includes a full quarter of contributions from US esports organization Complexity Gaming, Los Angeles-based gaming and lifestyle marketing agency Cut+Sew, Gaming Community Network, and UK esports talent agency Code Red.
The revenue guidance is unaudited and is subject to change in connection with the completion of the company’s year-end accounting procedures.
(All information was provided by Proactive Investors)