Company: GAME
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004869
Chunk: 2

Company: GameSquare Holdings, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 2
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 expected to be driven by increasing marketing spend from global brands that seek exposure to and connections with these
audiences. The Company’s growth strategy focuses on growing audience and reach within its digital agencies, media network, and
teams segments. GameSquare’s digital agencies, teams, and SaaS and advertising services segments serve the gaming and esports market,
and more broadly sports and entertainment through content creation, audience development and growing brand relationships.

The
digital agency industry is highly fragmented, and these businesses are generally characterized by high revenue growth with healthy earnings
before income, taxes, depreciation and amortization (“EBITDA”) margins, which management believes positions the Company well
for sustainable growth through organic efforts and presents significant opportunities to grow through accretive acquisitions.

3

Outlook

GameSquare
is pursuing organic growth opportunities, as well as M&A growth opportunities. From August 2020 to May 2024, the Company has completed
five acquisitions and divested two non-core assets. GameSquare’s organic growth strategy focuses on growing audience and reach
within its digital agencies, media network, and teams segments. GameSquare’s digital agencies, teams, and services segments serve
the gaming and esports market, and more broadly sports and entertainment through content creation, audience development and growing brand
relationships. The digital agency industry is highly fragmented, and these businesses are generally characterized by high revenue growth
with healthy earnings before income, taxes, depreciation and amortization margins, which management believes positions the Company well
for sustainable growth through organic efforts and presents significant opportunities to grow through accretive acquisitions.

The
combination of Engine Gaming’s best-in-class technology assets with GameSquare’s award-winning agency and creative capabilities,
allows the Company to offer unparalleled insight into consumer behaviors. It also allows GameSquare to develop data-driven creative strategies,
and measure and optimize campaigns towards customer acquisition goals in real-time - creating impactful marketing solutions that drive
ROI for its customers.

The
Company has invested in its sales organization and continues to see significant growth in the number, and the size, of requests for proposals
within its agency businesses. The Company’s financial profile compares 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.

Customers

The
Company has different business segments which often target different customers. For example, our business-to-business S