On May 30th, GameSquare Esports Inc. announced the company’s financial results for the first quarter of 2022 which ended on March 31st. Needless to say, this was one of the most successful quarters ever for the North American gaming organization.
During the first quarter of this year, the company generated over $5 million in revenue. This is a massive increase compared to the $820,000 in revenues that the company reported during Q1 2021.
Most of these revenues came from two business units. The agency services segment generated $2.99 million. Meanwhile, the teams segment reported revenues of $1.92 million.
On March 1st, 2022, the organization launched Fourth Frame Studios to create bespoke content for major brands and esports orgs. That business unit generated $122,000 in revenues.
“We continue to make excellent progress building a leading esports and gaming company. We exceeded our internal sales target for Q1 2022, and we are progressing well on our path to profitability,” said Justin Kenna, CEO of GameSquare. “Our sales pipeline is robust, and we continue to see significant growth in the number and size of RFPs for our agency businesses and sales activity within Complexity Gaming. We believe that the effect of operating leverage will become increasingly evident throughout 2022 as we have invested in the foundation necessary to support our rapid growth and become a profitable esports and gaming business.”
GameSquare Esports Inc. is a Toronto, Canada-based international gaming organization. The business is the parent company of several well-known entities including Complexity Gaming, Code Red Esports, Reciprocity, and Swingman LLC.