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Edge28 Nov 2025
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GameSquare Holdings (GAME) investor relations material
GameSquare Holdings Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary13 Nov, 2025
Executive summary
Achieved net income from continuing operations of $5.9 million in Q3 2025, reversing a net loss from the prior year and reflecting improved profitability and strategic portfolio changes.
Gross margin rose 20% sequentially to 49.4%, driven by business model optimization, DAT contribution, and higher SaaS and agency revenues.
Balance sheet strengthened with $81.5 million in digital asset treasury (DAT) assets and cash, no debt, and shareholders' equity of $78.7 million as of September 30, 2025.
Strategic actions included divesting Phase Plan Esports, winding down Frankly Media, consolidating technology under Stream Hatchet, and acquiring Click Management.
Launched a digital asset treasury strategy, raising $80M and generating $0.6 million yield in two months, enhancing the balance sheet and accelerating Web3 growth.
Financial highlights
Q3 2025 revenue was $11.3 million, up 22% year-over-year from $9.3 million, with nine-month revenue at $26.5 million, up 33% from $19.9 million.
Gross profit for the nine months rose to $11.0 million from $7.5 million, with gross margin improving to 49.4% in Q3 and 41.6% for the nine months.
Adjusted EBITDA loss narrowed to $0.6 million in Q3 from $0.9 million year-over-year; pro forma Adjusted EBITDA loss was $0.2 million.
Net income from continuing operations was $5.9 million in Q3, compared to a net loss of $3.9 million a year ago.
Cash and digital assets totaled $82 million at quarter-end, with no debt and shareholders' equity of $79 million.
Outlook and guidance
Second-half 2025 pro forma revenue expected at $36.8 million and Adjusted EBITDA at $2.9 million, including Click Management.
2026 guidance targets over 20% annual organic revenue growth and high single-digit to low double-digit adjusted EBITDA margins.
Q4 2025 expected to be the largest quarter, with strong seasonality and robust sales pipeline.
Management continues to focus on organic growth, M&A, and leveraging digital asset strategies for yield and capital allocation.
The company is monitoring compliance with Nasdaq's minimum bid price requirement and has 180 days to regain compliance.
Explain the $8M digital asset loss vs $9.3M ETH gain
Quantify Click acquisition impact on H2 outlook
Future capital allocation beyond share repurchases?
How does DAT yield strategy scale beyond Q3 results?
Click acquisition: quantify new expansion opportunities.
Future operating model post-restructuring?
DAT strategy to mitigate crypto volatility?
Key drivers for 2026 organic revenue growth?
Expected normalized gross margin post-Frankly?
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Next GameSquare Holdings earnings date
AGM 20254 Dec, 2025
Next GameSquare Holdings earnings date
AGM 20254 Dec, 2025
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Frequently asked questions
GameSquare Holdings, Inc. operates as a gaming, esports, and media company providing marketing, creative services, content production, and event management. It serves brands, esports teams, and gaming audiences through its network of agencies and subsidiaries. GameSquare Holdings, Inc. is headquartered in Frisco, Texas, and its shares are listed on the NASDAQ.
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