GameSquare Holdings, Inc. announced its financial results for the third quarter ended September 30, 2024, reporting a record revenue of $26.4 million. This represents a 10% increase year-over-year compared to the proforma third quarter of 2023.
The company's adjusted EBITDA loss significantly improved to $2.2 million in Q3 2024, demonstrating progress from both the prior year's proforma Q3 2023 and the sequential second quarter of 2024. This improvement reflects the benefits of GameSquare's growth strategies and ongoing cost reduction initiatives.
GameSquare reaffirmed its expectation for 2024 to be a record year, with annual proforma revenue projected to be between $105 million and $110 million. The strong third-quarter performance aligns with the company's pre-announcement and its strategic focus on driving organic sales growth and achieving profitability.
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