On August 29th, GameSquare Esports Inc. announced the company’s financial results for the second quarter of this year which ended on June 30th. When compared to past results, GameSquare Esports experienced significant growth during this recent three-month period.
Revenues for this quarter reached $6.65 million, a tremendous rise from $893,000 during the same period last year. Meanwhile, gross margins grew by 13% when compared to the previous quarter.
“The sequential and year-over-year improvement the Company achieved in the second quarter reflects the successful execution of our growth plan, and the positive secular trends underway across the global esports and gaming markets,” said Justin Kenna, CEO of GameSquare. “GameSquare reported more than 30% sequential growth in revenue over the prior quarter and realized gross margin expansion of 13% compared to the first quarter of 2022. The first half of the year is seasonally slower than the second half, which positions the Company extremely well to achieve our recently increased revenue guidance. As noted last quarter, the effect of operating leverage is becoming increasingly evident as we have invested in the foundation necessary to support our rapid growth and become a profitable esports and gaming business. We also continue to optimize our expense structure while driving margin expansion on our path to profitability.”
(All information was provided by StreetInsider)
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