Company: GAME
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004869
Chunk: 158

Company: GameSquare Holdings, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1B
Chunk 158
---
551  
     -  
     8,077,926 
  
    SaaS + Advertising 
     -  
     22,879,308  
     244,625  
     23,123,933 
  
    Total Cost of sales 
     2,065,375  
     28,891,859  
     244,625  
     31,201,859 
  
    Gross profit 

    Teams 
     -  
     -  
     -  
     - 
  
    Agency 
     788,379  
     2,654,596  
     -  
     3,442,975 
  
    SaaS + Advertising 
     -  
     4,715,560  
     1,942,987  
     6,658,547 
  
    Total Gross profit 
    $788,379  
    $7,370,156  
    $1,942,987  
    $10,101,522 

Revenue

Revenues for the year ended December 31, 2024, were
$96.2 million, in comparison to $41.3 million for the year ended December 31, 2023. The increase was primarily related to the acquisition
of Engine on April 11, 2023 and the acquisition of FaZe on March 7, 2024. See below for revenue breakdown by operating segement.

Team
Revenue

Team revenue for the year ended December 31, 2024,
was $32.0 million, in comparison to $0 for the year ended December 31, 2023. The increase was related to our acquisition of FaZe on March
7, 2024. As such, there is no revenue is this operating segment in the prior year.

18

Agency
Revenue

Agency
revenue for the year ended December 31, 2024, was $12.1 million, in comparison to $11.5 million for the year ended December 31, 2023.
The variance was not significant.

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

SaaS
+ Advertising revenue for the year ended December 31, 2024, was $52.1 million, in comparison to $29.8 million for the year ended December 31,
2023. The increase was