Company: GAME
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023589
Chunk: 180

Company: GameSquare Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 180
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2024. The variance between the periods was not significant.

35

Research
and development

Research
and development expenses for the nine months ended September 30, 2025, was $1.5 million, in comparison to $1.4 million for the same
period in 2024. The variance between the periods was not significant.

Depreciation
and amortization

Depreciation
and amortization for the nine months ended September 30, 2025, was $0.7 million, in comparison to $1.0 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 prior year period.

Restructuring
charges

Restructuring
charges for the nine months ended September 30, 2025, were $(0.8) 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 2025 to write off significantly aged AP (three
+ years) relating to discontinued operations and services, wherein the local statute of limitations has expired for legal recourse
by the vendor. This was partially offset by increases related to continued efforts made by the Company to reduce operating expenses
during the second half of 2024 and  2025, primarily through reductions in headcount, technology expenses and other
overhead.

Other
operating expenses

Other
operating expenses for the nine months ended September 30, 2025, was $2.4 million, in comparison to $3.4 million for the same period
in 2024. Other operating expenses between the quarters consisted primarily of transaction related expenses. The Company incurred
transaction costs in the 2025 period connected to the disposal of Faze Media Inc. on April 1, 2025 and acquisition of Click on
September 11, 2025, in addition to a couple of M&A opportunities that were pursued during the current period but ultimately did
not sign. The 2024 period included transaction costs related to the acquisition of FaZe and disposal of Complexity and Frankly Media
assets.

Other
income and expenses

Interest
income (expense), net

Interest
(income) expense, net for the nine months ended September 30, 2025, was $0.3 million, in comparison to