Company: GAME
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023589
Chunk: 183

Company: GameSquare Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 183
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Yield

DAT yield revenue for the three months ended September 30, 2025, was $0.6 million, in comparison to $0 for the same
period in 2024. The Company launched its DAT in the third quarter of 2025.

37

Cost
of Revenue

Cost
of revenue for the three months ended September 30, 2025, was $5.7 million, in comparison to $5.1 million for the same period in
2024. The increase was primarily related to the increase in revenue discussed above, and varying margins of the Company product
mix.

Operating
expenses

General
and administrative

General
and administrative expenses for the three months ended September 30, 2025, was $6.2 million, in comparison to $3.7 million for the
same period in 2024. The increase was primarily due to $1.9 million in stock based compensation recorded during the current period from
new RSU grants to employees and warrant grant to a service provider, in addition to the operations of Click that contributed 19 days of
operating results post close in the current period.

Selling
and marketing

Selling
and marketing expenses for the three months ended September 30, 2025, was $1.5 million, in comparison to $1.2 million for the same
period in 2024. The variance between the periods was not significant.

Research
and development

Research
and development expenses for the three months ended September 30, 2025, was $0.5 million, in comparison to $0.5 million for the same
period in 2024. The variance between the periods was not significant.

Depreciation
and amortization

Depreciation
and amortization for the three months ended September 30, 2025, was $0.3 million, in comparison to $0.4 million for the same period
in 2024. The decrease was primarily related to intangible asset impairments taken at December 31, 2024, reducing the go forward
amortization as compared to the same period in the prior year.

Restructuring
charges

Restructuring charges for the three months ended September 30, 2025, were $(1.5) million, in comparison to $0.3 million
for the same period in 2024. The decrease was due to initiative the Company started in the third quarter of