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

Company: GameSquare Holdings, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 2
Chunk 10
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 very favorably against its esports peers, as well as other
companies seeking to engage with youth audiences.

The
Company believes enterprise growth may come as a result of synergistic approaches to combining the strengths of its multiple SaaS companies
that it can present as a unified offering to the market.

The
following is a summary of the Company’s financial performance highlights for the three and six months ended June 30, 2025 and
2024. This summary should be considered in the context of the additional disclosures in this MD&A which further highlight
Company results by segment.

Results
of Operations

The
following table summarizes our results of operations for the three and six months ended June 30, 2025 compared to the three and six months
ended June 30, 2024. FaZe Media is now reported in discontinued operations, historical results
of operations of FaZe Media are netted in discontinued operations within the below figures.

    Six months ended June 30,  

    2025  
    2024  
    Variance 
  
    Revenue 
    $30,583,937  
    $33,406,699  
    $(2,822,762)
  
    Cost of revenue 
     24,793,857  
     28,816,057  
     (4,022,200)
  
    Gross profit 
     5,790,080  
     4,590,642  
     1,199,438 
  
    Operating expenses: 

    General and administrative 
     8,350,837  
     9,402,195  
     (1,051,358)
  
    Selling and marketing 
     2,944,853  
     3,449,227  
     (504,374)
  
    Research and development 
     1,113,010  
     1,189,305  
     (76,295)
  
    Depreciation and amortization 
     558,825  
     1,182,368  
     (623,543)
  
    Restructuring charges 
     782,541  
     -  
     782,541 
  
    Other operating expenses 
     1,292,565  
     2,088,137  
     (795,572)
  
    Total operating expenses 
     15,042,