The Esports World Cup brought together the world's best esports clubs who competed for $60+ million in prizes, the largest prize pool in the history of esports
Faze Clan finished in sixth place in the club championship out of over 500 teams, with prize money earnt in six titles and two podium finishes
FaZe Clan took home approximately $2 million in prize winnings, which is expected to contribute to GameSquare's revenue for the 2024 third quarter
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Second quarter revenue grew 59% as the Company continues to scale operations
Recent capital raise and debt conversion represent meaningful inflection points, strengthening the Company's balance sheet and financial flexibility
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Q2 2024 proforma revenue increased 24% YoY and expanded 22% QoQ to a quarterly record of $28.6 million, reflecting value of operating enhanced platform and success of growth initiatives
Q2 2024 proforma adjusted EBITDA loss improves significantly YoY and QoQ to $5.4 million, demonstrating benefits of growth strategies and cost reduction initiatives
$2.5 million sequential improvement in proforma adjusted EBITDA, supports efforts to reach profitability by the fourth quarter of 2024 as the Company expects further revenue growth, higher gross margin and additional operating cost reductions to benefit Q3 and Q4 results
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