--- title: "GameSquare | 10-Q: FY2026 Q1 Revenue: USD 14.5 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/286467384.md" datetime: "2026-05-14T20:55:11.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/286467384.md) - [en](https://longbridge.com/en/news/286467384.md) - [zh-HK](https://longbridge.com/zh-HK/news/286467384.md) --- # GameSquare | 10-Q: FY2026 Q1 Revenue: USD 14.5 M Revenue: As of FY2026 Q1, the actual value is USD 14.5 M. EPS: As of FY2026 Q1, the actual value is USD -0.18. EBIT: As of FY2026 Q1, the actual value is USD -3.045 M. #### Overall Financial Performance (Continuing Operations) - **Revenue:** For the three months ended March 31, 2026, revenue was $14,503,721, compared to $7,439,124 for the three months ended March 31, 2025. - **Cost of Revenue:** For the three months ended March 31, 2026, cost of revenue was $8,931,440, compared to $4,281,199 for the three months ended March 31, 2025. - **Gross Profit:** For the three months ended March 31, 2026, gross profit was $5,572,281, compared to $3,157,925 for the three months ended March 31, 2025. - **Net Loss:** For the three months ended March 31, 2026, net loss was - $17,704,972, compared to - $7,173,736 for the three months ended March 31, 2025. #### Operating Expenses - **General and Administrative:** For the three months ended March 31, 2026, general and administrative expenses were $4,439,647, compared to $3,707,625 for the three months ended March 31, 2025. - **Selling and Marketing:** For the three months ended March 31, 2026, selling and marketing expenses were $2,143,014, compared to $1,335,761 for the three months ended March 31, 2025. - **Research and Development:** For the three months ended March 31, 2026, research and development expenses were $610,802, compared to $654,053 for the three months ended March 31, 2025. - **Depreciation and Amortization:** For the three months ended March 31, 2026, depreciation and amortization expenses were $430,250, compared to $204,131 for the three months ended March 31, 2025. - **Contract Exit Costs:** For the three months ended March 31, 2026, contract exit costs were $150,855, compared to $617,213 for the three months ended March 31, 2025. - **Other Operating Expenses:** For the three months ended March 31, 2026, other operating expenses were $1,171,697, compared to $745,377 for the three months ended March 31, 2025. - **Total Operating Expenses:** For the three months ended March 31, 2026, total operating expenses were $8,946,265, compared to $7,264,160 for the three months ended March 31, 2025. #### Other Income (Expense), Net - **Interest Income (Expense), Net:** For the three months ended March 31, 2026, net interest income (expense) was - $329,101, compared to $26,586 for the three months ended March 31, 2025. - **Change in Fair Value of Warrant Liability:** For the three months ended March 31, 2026, the change in fair value of warrant liability was $659,383, compared to $5,347 for the three months ended March 31, 2025. - **Realized and Change in Unrealized Gain (Loss) on Digital Assets and Investment in ETH Fund:** For the three months ended March 31, 2026, this was - $14,592,149, compared to $0 for the three months ended March 31, 2025. #### Net Income (Loss) from Discontinued Operations - For the three months ended March 31, 2026, net income (loss) from discontinued operations was - $94,320, compared to - $3,415,030 for the three months ended March 31, 2025. #### Revenue by Segment - **Owned and Operated IP:** For the three months ended March 31, 2026, revenue was $2,957,152, compared to $3,088,506 for the three months ended March 31, 2025. - **Agency:** For the three months ended March 31, 2026, revenue was $9,528,167, compared to $3,255,786 for the three months ended March 31, 2025. - **SaaS and Managed Services:** For the three months ended March 31, 2026, revenue was $2,050,303, compared to $1,094,832 for the three months ended March 31, 2025. - **Yield:** For the three months ended March 31, 2026, revenue was - $31,901, compared to $0 for the three months ended March 31, 2025. #### Gross Profit by Segment - **Owned and Operated IP:** For the three months ended March 31, 2026, gross profit was $714,509, compared to $1,335,662 for the three months ended March 31, 2025. - **Agency:** For the three months ended March 31, 2026, gross profit was $3,098,867, compared to $954,833 for the three months ended March 31, 2025. - **SaaS and Managed Services:** For the three months ended March 31, 2026, gross profit was $1,790,806, compared to $867,430 for the three months ended March 31, 2025. - **Yield:** For the three months ended March 31, 2026, gross profit was - $31,901, compared to $0 for the three months ended March 31, 2025. #### Cash Flow - **Net Cash Used in Operating Activities:** For the three months ended March 31, 2026, net cash used in operating activities was - $6,419,263, compared to - $8,582,365 for the three months ended March 31, 2025. - **Net Cash Used in Investing Activities:** For the three months ended March 31, 2026, net cash used in investing activities was - $2,517,075, compared to - $375,410 for the three months ended March 31, 2025. - **Net Cash Provided by Financing Activities:** For the three months ended March 31, 2026, net cash provided by financing activities was $6,729,777, compared to $1,462,218 for the three months ended March 31, 2025. - **Cash and Restricted Cash, End of Period:** As of March 31, 2026, cash and restricted cash was $4,195,659, compared to $6,374,333 as of December 31, 2025. #### Unique Metrics - **Digital Assets (Fair Value):** As of March 31, 2026, digital assets were $22,836,912, including ETH, ANIME, and REKT, compared to $5,987,720 as of December 31, 2025. - **Investment in ETH Fund (Fair Value):** As of March 31, 2026, investment in ETH Fund was $10,680,541, compared to $41,374,063 as of December 31, 2025. - **Share Repurchase Program:** As of March 31, 2026, GameSquare Holdings, Inc. had repurchased 5,058,590 common shares at a total cost of $2.5 million under its program. Subsequent to March 31, 2026, an additional 2,291,000 common shares were acquired for $1.0 million, with $11.5 million remaining under current authorization. - **ETH-Backed Promissory Notes:** As of March 31, 2026, outstanding borrowings were $9.5 million, collateralized by 6,958.15 ETH with a fair value of $14.6 million, resulting in a collateral coverage ratio of approximately 154%. In April 2026, borrowings expanded from $9.5 million to $11.1 million. #### Future Outlook and Strategy GameSquare Holdings, Inc. plans to pursue organic growth and M&A opportunities to expand its audience and reach across its agency, SaaS, and owned and operated IP segments. The company intends to leverage its technology assets and creative capabilities for data-driven strategies and campaign optimization. Additionally, GameSquare Holdings, Inc. will continue using funds from its treasury strategy for opportunistic common stock repurchases and extending ETH-backed promissory notes until ETH prices recover. ### Related Stocks - [GAME.US](https://longbridge.com/en/quote/GAME.US.md) ## Related News & Research - [GameSquare's Q1 revenue nearly doubles](https://longbridge.com/en/news/286461498.md) - [Hilton Grand Vacations Wins 14 ARDA Awards | HGV Stock News](https://longbridge.com/en/news/286429274.md) - [Electro-Sensors GAAP EPS of -$0.03, revenue of $2.6M](https://longbridge.com/en/news/286518577.md) - [Faron Pharmaceuticals LTD: Holding(s) In Company](https://longbridge.com/en/news/286725255.md) - [Crombie Reit Announces May 2026 Monthly Distribution | CROMF Stock News](https://longbridge.com/en/news/286603129.md)