GameSquare (GAME) investor relations material

Operating model and market position

• Strategy centers on connecting brands, creators and consumers across gaming and broader internet culture; enterprise sales brings data, talent and agency services to market as one team.

• Stream Hatchet serves nine of the top 10 global game publishers; Nielsen licenses its data, and it is the official data provider for the Esports World Cup and Esports Nations Cup.

• Creator services span nearly 100 contracted talent, non-exclusive creator campaigns, and support for lifestyle, athlete, music and entertainment creators; brands are shifting budgets toward thousands of smaller, highly engaged creators.

• Agency clients include the Dallas Cowboys, Jack in the Box, Dairy MAX, Topgolf, Converse, Roblox and Epic Games; retainer relationships are contributing recurring, longer-term revenue.

FanEngine acquisition and monetization

• Recently closed FanEngine acquisition adds owned entertainment IP and a Media House focused on athlete content, enabling direct audience monetization through content, merchandise, live events and brand partnerships.

• FanEngine is forecast to generate $50 million revenue and $20 million EBITDA in 2027; the high-margin operation adds about $2 million in annual fixed costs and about 15 employees, with integration underway.

• Simon's Cat generated $50 million revenue and $9 million profit over the prior two periods; a $5 million guaranteed additional profit is attached to the IP.

• Peaky Blinders project planned for mid-November, with about four Fortnite maps planned over the next 12 months; The Two Robbies and athlete division also have revenue opportunities, including planned Champions League and Women's World Cup shows.

• A Two Robbies live World Cup show generated about $2 million revenue in six weeks and incurred about $600,000 in content production costs, which can now be retained in-house.

Financial outlook and capital allocation

• 2026 guidance is $85 million revenue and $5 million EBITDA; results were slightly ahead of target halfway through the year, with seasonality affecting performance.

• Q4 of the prior year marked operating profitability; 2026 is expected to be the first full year of operating profit, with real cash generation expected in 2027.

• Standalone 2027 outlook includes 20% organic growth; management cited conservative expectations of $100 million revenue and $10 million EBITDA, alongside separate FanEngine forecasts of $50 million revenue and $20 million EBITDA.

• Balance sheet had close to $30 million in cash, ETH and cash equivalents, no long-term debt, and about 18 million shares outstanding after the all-stock deal; management said no fundraising is needed.

• About 10,000 ETH is being liquidated, with a goal of holding none by end-Q1; proceeds are intended for operating growth, while stock buybacks remain an option if the share price does not move.