The following is a summary of the GameSquare Holdings, Inc. (GAME) Q1 2024 Earnings Call Transcript:

Financial Performance:

• GameSquare reported Q1 pro forma revenue of $23.5 million, a slight decrease from the previous year due to a $4.2 million reduction in FaZe Clan revenue.

• Gross margin for Q1 was $3.7 million, or 15.7% of sales, compared to $4 million or 16.5% for the same period the previous year.

• The adjusted EBITDA loss for Q1 2024 was $7.9 million, compared to a loss of $14.3 million the previous year.

Business Progress:

• They have recent acquisitions and strategic transactions, including FaZe Clan for $14 million in stock, and a $10.4 million sale of Complexity Gaming. The business also raised $10 million of new capital in a private placement during Q1.

• They've also noted strong engagement and achieved the #1 trending topic on Twitter in the U.S. due to the relaunch of FaZe Clan's brand.

• They are accelerating content strategies that leverage the resources of Fourth Frame Studios, with expectations to achieve over $100 million in annual revenue with an annual gross margin ranging between 22.5% to 27.5% for the remainder of the year.

More details: GameSquar IR

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