Company: GAME
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-023972
Chunk: 17

Company: GameSquare Holdings, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 2
Chunk 17
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 Teams 
     -  
     614,786  
     -  
     614,786 
  
    Agency 
     67,469  
     148,453  
     -  
     215,922 
  
    SaaS + Advertising 
     -  
     976,990  
     713,596  
     1,690,586 
  
    Total Gross profit 
    $67,469  
    $1,740,229  
    $713,596  
    $2,521,294 

31

Key
Components and Comparison of Results of Operations

Six
months ended June 30, 2025 and 2024

Revenue

Revenues for the six months ended June 30, 2025, were $30.6 million, in
comparison to $33.4 million for the same period in 2024. The decrease was primarily related to decrease in revenue at Frankly Media (SaaS
+ Advertising), primarily driven by decease in ad impressions as compared to prior year period. Further, Frankly Media sold its remaining
SaaS assets on May 31, 2024, contributing to the decline in revenue in the 2025 period.

Team
Revenue

Teams revenue for the six months ended June 30, 2025, was $4.9 million,
in comparison to $2.9 million for the same period in 2024. The increase was primarily related to the acquisition of FaZe on March 7, 2024
and FaZe Esports not being a full six months in the prior year period.

Agency
Revenue

Agency revenue for the six months ended June 30, 2025, was $4.5 million,
in comparison to $5.0 million for the same period in 2024. The variance between the periods was not significant.

Software-as-a-service
(“SaaS”) + Advertising revenue

SaaS + Advertising revenue for the six months ended June 30, 2025, was
$21.2 million, in comparison to $25.5 million for the same period in 2024. The decrease was primarily related to decrease in revenue at
Frankly Media (SaaS + Advertising), primarily driven by decease in ad impressions as compared to prior year period. Further, Frankly Media
sold its remaining SaaS assets on May 31, 2024, contributing to