17 November 2023 13:07
Source: GameSquare Esports
GameSquare Holdings revealed its Q3 2023 financial results. During the specified period, the company reported a notable increase in revenue, reaching $16.0 million as compared to $10.1 million in the previous period. The gross margin, representing the difference between revenue and the cost of goods sold, also demonstrated growth, rising to $4.4 million from $3.6 million. However, despite these positive trends, the company experienced a higher net loss of $5.1 million, compared to the net loss of $4.2 million in the preceding period. Additionally, the adjusted EBITDA loss, a measure of operating performance excluding certain non-operating expenses, widened to $3.6 million, reflecting an increase from the $3.2 million loss reported in the prior period. These financial metrics collectively indicate both positive revenue and margin growth but also highlight increased losses during the evaluated periods.