Company: GAME
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010979
Chunk: 45

Company: GameSquare Holdings, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 2
Chunk 45
---
 250,632  
     14,003,829  
     80,606  
     14,335,067 
  
    Gross profit 

    Teams 
     -  
     981,383  
     -  
     981,383 
  
    Agency 
     128,017  
     403,534  
     -  
     531,551 
  
    SaaS + Advertising 
     -  
     1,180,925  
     699,298  
     1,880,223 
  
    Total
    Gross profit 
    $128,017  
    $2,565,842  
    $699,298  
    $3,393,157 

26

Key
Components and Comparison of Results of Operations

Three
months ended March 31, 2025 and 2024

Revenue

Revenues
for the three months ended March 31, 2025, were $21.1 million, in comparison to $17.8 million for
the same period in 2024. The increase was primarily related to the acquisition of FaZe on March 7, 2024 and FaZe only being in
last 24 days in the prior year period.

Team
Revenue

Teams
revenue for the three months ended March 31, 2025, was $9.5 million, in comparison to $2.6 million for the same period in 2024. The increase
was primarily related to the acquisition of FaZe on March 7, 2024 and FaZe only being in last 24 days in the prior year period.

Agency
Revenue

Agency
revenue for the three months ended March 31, 2025, was $2.9 million, in comparison to $2.3 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 three months ended March 31, 2025, was $9.3 million, in comparison to $12.2 million for the same period
in 2024. The decrease was related to decline in our programmatic advertising business of approximately $3 million.

Cost
of Sales

Cost
of sales for the three months ended March 31, 2025, was $17.