On July 25th, GameSquare Esports announced it had increased its 2022 revenue guidance. Now, the organization expects to bring in $27.5-$30 million rather than $23.5-$25 million as originally predicted, signifying a 20% increase.
The company increased its revenue guidance for several reasons. One reason was the closure of significant contracts that will be recognized during Q3 and Q4 of 2022. Moreover, the strong performance of Fourth Frame Studios along with the identification of new business opportunities helped set up this new guidance.
“Brands continue to invest to reach gaming and esports fans, and we are seeing this translate to increased sales activity and opportunities across GameSquare’s media and esports companies,” said Justin Kenna, the CEO of GameSquare. “We are bullish on the Company’s prospects as we are showing leadership within esports and successfully converting our growing pipeline into revenue. I’m extremely pleased with the progress we are seeing across our portfolio of companies. We are executing on our growth strategy, and we are growing the top line strongly while also working toward profitability.”
Based in Toronto, Canada, GameSquare Esports Inc. has emerged as one of the most powerful gaming companies in North America. Some of the organization’s most recognizable assets include Code Red Esports, GCN, Complexity Gaming, and more.
(All information was provided by LinkedIn and Yahoo! Finance)
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