- ESE Entertainment (ESE) has filed its unaudited interim consolidated financial statements and management’s discussion and analysis for Q2, 2022
- The company reported quarterly revenue of $15.00 million, a 1,994 per cent increase YoY
- Gross profit for Q2, 2022 was $3.82 million, an increase of 2,748 per cent from Q2 2021
- ESE is a Europe based entertainment and technology company focusing on gaming and esports
- ESE Entertainment Inc. (ESE) was down 9.64 per cent, trading at C$0.75 per share at 3:55 pm ET
ESE Entertainment (ESE) filed its unaudited consolidated financial statements and related management’s discussion for Q2, 2022.
Q2 2022 financial and operating highlights:
- Q2 2022 revenue of $15.00 million, a 1,994 per cent increase YoY
- Gross profit of $3.82 million, a 2,748 per cent increase from Q2 2021
- Adjusted EBITDA of $884,751 compared to adjusted EBITDA loss of ($832,195) in the comparable period
- Total assets as at April 30, 2022 of $38.06 million, compared to total assets of $15.94 million as of April 30, 2021
Konrad Wasiela, CEO of ESE commented on the results.
“We are excited to share our Q2 2022 financial performance with shareholders, which is our seventh straight quarter in a row of record growth. This was the first quarter that included the financial performance of our most recent acquisition, Gameaddik. The combined operations have proven to deliver record revenue growth, improve margins, and reach a critical milestone of achieving positive adjusted EBITDA for the first time in company history.”
Q2 2022 operational highlights:
- Announced a partnership agreement with Opera, one of the world’s major browser developers and a leading internet consumer brand. The agreement focuses on providing advertising services in connection with the promotion of Opera GX, Opera’s gamer-oriented browser
- Acquired 9327-7358 Quebec Inc. DBA Gameaddik, adding new technology to ESE’s global 360 esports business
- Appointed the Founder and CEO of Gameaddik, Eric Jodoin, as the Chief Operating Officer (COO) of ESE Entertainment
- Announced that the company’s subsidiary, Digital Motorsports signed a reseller agreement with Corsair Gaming
- Announced that its media division, Frenzy, is launching a new broadcast studio in Warsaw, Poland. The first project produced from the new studio will be VRL East: Surge, a competition in the game VALORANT carried out in 20 countries
- Announced starting a new division of its business focused on expanding existing business products and services to internet gambling companies
- Signed a Partnership Agreement with Waveform Entertainment Inc.
- Announced a Partnership Agreement with Cowana GmbH (“Cowana”)
ESE is a Europe-based entertainment and technology company focusing on gaming and esports. The company provides services to leading video game developers, publishers, and brands by providing technology, infrastructure, and fan engagement services internationally. The company also operates its e-commerce channels, esports teams, and gaming leagues.
ESE Entertainment Inc. (ESE) was down 9.64 per cent, trading at C$0.75 per share at 3:55 pm ET.
