GameSquare Q3 results show FaZe acquisition fills funding gap

Esports and gaming media conglomerate GameSquare holdings announced its financial results for the third quarter of 2023. The company’s revenue for the first three quarters totaled $35.2 million, up 38% from the same period in 2022.

While revenue is up, the holding company’s cost of sales and expenses have also gone up significantly. Its cost of sales climbed 83% to $24.8 million, leaving $10.4 million in gross profit. GameSquare’s expenses totaled nearly $24.3 million, up 28% from the same period last year. The majority of the increase was a result of salaries, consulting and management fees growing 81% year-on-year.