Company: GAME
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010979
Chunk: 46

Company: GameSquare Holdings, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 2
Chunk 46
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8 million, in comparison to $14.3 million for the same period in 2024. The
increase was primarily related to an increase in revenue associated with the acquisition of FaZe discussed above, and varying margins
of the Company product mix.

Operating
expenses

General
and administrative

General
and administrative expenses for the three months ended March 31, 2025, was $5.8 million, in comparison to $4.9 million for the same period
in 2024. The increase was primarily related to our acquisition of Faze as discussed above.

Selling
and marketing

Selling
and marketing expenses for the three months ended March 31, 2025, was $2.0 million, in comparison to $2.2 million for the same period
in 2024. The decrease was due to a $0.3 million reduction in third party marketing costs between the two periods.

Research
and development

Research
and development expenses for the three months ended March 31, 2025, was $0.8 million, in comparison to $0.7 million for the same period
in 2024. The variance between the periods was not significant.

Depreciation
and amortization

Depreciation
and amortization for the three months ended March 31, 2025, was $0.6 million, in comparison to $0.8 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 period in the prior year.

27

Restructuring
charges

Restructuring
charges for the three months ended March 31, 2025, were $0.6 million, in comparison to $0 for the same period in 2024. The increase was
due to more continued restructuring and further operational integration post FaZe acquisition.

Other
operating expenses

Other
operating expenses for the three months ended March 31, 2025, was $0.7 million, in comparison to $1.1 million for the same period in
2024. Other operating expenses between the quarters consisted solely 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, in addition to a couple of M&A opportunities
that were pursued during the