TORONTO, ON / ACCESSWIRE / October 27, 2022 / GameSquare Esports Inc. (CSE:GSQ)(OTCQB:GMSQF)(FRA:29Q1) (“GameSquare“, or the “Company“), today announced revenue guidance for its 2023 fiscal year of US$45 to US$50 million, and gross margin of 35-40%. Additionally, the company reaffirms its increased 2022 revenue guidance of US$27.5 to US$30.0 million, and gross margin of 35% to 40%.
“GameSquare is showing significant revenue growth across its businesses and year-to-date revenue performance is in line with our previously increased 2022 guidance,” said Justin Kenna, CEO of GameSquare. “We are continuing to rapidly grow our sales pipeline in both number and size of RFPs throughout all our businesses, and the Company has booked significant revenue for the next fiscal year which supports our guidance including our ability to achieve a 65% increase in revenue year-over-year.”
“GameSquare has quickly become a leading company in gaming and esports, and brands are recognizing the benefits of investing in the industry. Accelerating growth trends reflect the value we provide to brands and to consumers, and we are successfully executing our growth strategy,” added Mr. Kenna. “The company’s revenue guidance is based upon several factors including accelerating year-to-date revenue growth, closing of significant contracts expected to be recognized in 2023, and a robust sales pipeline.”
Today’s announcement reflects increasing interest from brands seeking to reach esports and gaming fans through GameSquare’s unique and vertically integrated business model. In less than two years, the Company has grown to include leading creative agencies, some of the largest content creators and influencers in gaming, a unique media network, esports teams, industry leading talent in content production, merchandise and consumer products, and an audience of more than 220 million followers which is one of the largest in gaming.
About GameSquare Esports Inc.
GameSquare Esports Inc. is a vertically integrated, international digital media and entertainment company enabling global brands to connect and interact with gaming and esports fans. GameSquare owns a portfolio of companies including Code Red Esports Ltd., an esports talent agency serving the UK, GCN, a digital media company focusing on the gaming and esports audience based in Los Angeles, USA., Cut+Sew (Zoned), a gaming and lifestyle marketing agency based in Los Angeles, USA, Complexity Gaming, a leading esports organization operating in the United States, Fourth Frame Studios, a multidisciplinary creative production studio, and Mission Supply, a merchandise and consumer products business. The Company is headquartered in Toronto, Canada.
Investor Relations
For further information, please contact, Investor Relations for GameSquare Esports Inc.:
Kevin Wright, President
Phone: (216) 464-6400
Email: IR@gamesquare.com
Andrew Berger
Phone: (216) 464-6400
Email: IR@gamesquare.com
Forward-Looking Information
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements“) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: the Company’s future performance, revenue and gross margin; continued growth and profitability; and the Company’s ability to execute its business plan. These forward-looking statements are provided only to provide information currently available to us and are not intended to serve as and must not be relied on by any investor as, a guarantee, assurance or definitive statement of fact or probability. Forward-looking statements are necessarily based upon a number of estimates and assumptions which include, but are not limited to: the Company being able to grow its business and being able to execute on its business plan, the Company being able to complete and successfully integrate acquisitions, the Company being able to recognize and capitalize on opportunities and the Company continuing to attract qualified personnel to supports its development requirements. These assumptions, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: the Company’s ability to achieve its objectives, the Company successfully executing its growth strategy, the ability of the Company to obtain future financings or complete offerings on acceptable terms, failure to leverage the Company’s portfolio across entertainment and media platforms, dependence on the Company’s key personnel and general business, changes in economic, competitive, political and social conditions including impact of the COVID-19 pandemic and any variants. These risk factors are not intended to represent a complete list of the factors that could affect the Company which are discussed in the Company’s most recent MD&A. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. GameSquare assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
In addition, the estimates of revenues and gross margin may be considered “future oriented financial information” or “financial outlooks” (collectively, “FOFI”) within meaning of applicable securities legislation. FOFI has been prepared by the Company’s management to provide an outlook of the Company’s activities and has been approved as of the date of this news release. The Company believes that the prospective financial information has been prepared on a reasonable basis, reflecting management’s best estimates and judgments, and represents, to the management’s knowledge and opinion, the Company’s course of action. The reader is cautioned that this information may not be appropriate for any other purpose and the reader should not place undue reliance on such future-oriented financial information and financial outlooks. FOFI, as with forward-looking statements generally, are, without limitation, based on assumptions and subject to the risks set out above. The Company’s actual financial position and results of operations may differ materially from management’s current expectations and, as a result, the Company’s revenue and gross margin may differ materially from the guidance provided in this news release. Except as required by law, GameSquare assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
Neither the Canadian Securities Exchange (“CSE“) nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: GameSquare Esports Inc.
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