Expansion follows the award-winning “Farm to Fork” Fortnite campaign, which earned a coveted Shorty Impact Award for Gamification.
FRISCO, TEXAS / ACCESS Newswire / January 21, 2026 / Zoned, a GameSquare (NASDAQ:GAME) company, today announced that it has renewed and expanded its multi-year partnership with Dairy MAX, one of the country’s leading dairy organizations. This is the fourth annual renewal of the longstanding partnership between Dairy MAX and Zoned. The renewal comes on the heels of the widely acclaimed “Farm to Fork” initiative for Dairy MAX, which was recently honored with a Shorty Impact Award in the Gamification category, recognizing the campaign’s innovation and impact in digital education.
“Farm to Fork” introduced a new model for mission-driven education inside Fortnite, beginning with Farm Tycoon in April 2024, an immersive world that teaches players how modern dairy farms operate. Farm Tycoon delivered more than 85,000 hours played, over 20 million impressions, and 45,000+ direct engagements, with an average session time of 27 minutes, nearly double Fortnite’s average. It proved that real-world education could drive virtual immersion.
In July 2025, the program expanded with Diner Tycoon, a second custom Fortnite world that brings the dairy journey full circle and allows players to run a diner, craft dairy-rich meals, and learn about nutrition and sustainability in an engaging, interactive format. Diner Tycoon surged to #1 Top Rated Fortnite experience in the U.S. and globally within its first weekend. Together, the two experiences delivered millions of impressions, strong completion rates, and deep engagement among Gen Z and Gen Alpha audiences. Ultimately, they are helping shape real-world perceptions about dairy farming and nutrition.
“This partnership demonstrates how powerful gaming can be as a storytelling and education platform,” said Justin Kenna, GameSquare’s CEO. “Our work with Dairy MAX has set a new standard for purpose-driven worldbuilding in Fortnite, and the Shorty Impact Award validates the innovation and creativity behind this program. We’re excited to expand this partnership and continue pushing boundaries together.”
“Dairy MAX is deeply committed to meeting younger audiences where they spend their time. And today, that’s in games like Fortnite,” said Essence Riley, vice president of consumer growth at Dairy MAX. “Zoned has helped us translate the dairy story into an authentic, interactive experience that uses entertainment as a powerful gateway to learning and connecting with students, families and communities. The next phase of this partnership allows us to build on that success and bring even more educational content to life through engaging experiences.”
Under the renewed partnership, Zoned will continue to build custom gaming experiences, new educational modules, influencer extensions, and content that further modernize how dairy education is delivered.
The partnership underscores the growing demand for purpose-driven experiences in gaming, while extending GameSquare’s position as a leader in connecting brands, communities, and mission-oriented organizations with next-generation audiences.
About Dairy MAX:
Dairy MAX represents dairy farm families across eight states, who together are responsible for producing 15% of all U.S. milk. Our mission is to bring the joy and power of dairy to everyone to create a stronger, healthier tomorrow. By caring for animals, protecting resources and investing in sustainability, farmers are creating a future where dairy becomes the choice that nourishes every life for generations to come. For more information, visit DairyMAX.org.
About GameSquare Holdings, Inc.
GameSquare (NASDAQ:GAME) is a cutting-edge media, entertainment, and technology company transforming how brands and publishers connect with Gen Z, Gen Alpha, and Millennial audiences. With a platform that spans award-winning creative services, advanced analytics, and FaZe Clan Esports, one of the most iconic gaming organizations, we operate one of the largest gaming media networks in North America. As a digital-native business, GameSquare provides brands with unparalleled access to world-class creators and talent, delivering authentic connections across gaming, esports, and youth culture. Complementing our operating strategy, GameSquare has developed an innovative treasury management program designed to generate yield and enhance capital efficiency, reinforcing our commitment to building a dynamic, high-performing media company at the intersection of culture, technology, and next-generation financial innovation.
ZONED is a marketing firm built to move the internet forward. Powered by chronically online strategists, creatives, and niche experts, we help brands authentically connect with their audiences by decoding consumer behavior and identifying hot pockets of culture that create early adaptor advantages. Our team draws from mixed backgrounds of gaming, music and sports that allows Zoned campaigns to cover all corners of the internet. Using our combined experience, we work to create unique cultural crossover opportunities that will leave a footprint on the digital landscape.
ZONED doesn’t follow culture, we help create it. For more information – visit www.zoned.gg.
Forward-Looking Information
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: the Company’s future performance, revenue, growth and profitability; and the performance of the live streaming market . These forward-looking statements are provided only to provide information currently available to us and are not intended to serve as and must not be relied on by any investor as, a guarantee, assurance or definitive statement of fact or probability. Forward-looking statements are necessarily based upon a number of estimates and assumptions which include, but are not limited to: the Company’s ability to grow their business and being able to execute on their business plans, the Company being able to complete and successfully integrate acquisitions, the Company being able to recognize and capitalize on opportunities and the Company continuing to attract qualified personnel to supports its development requirements. These assumptions, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: the Company’s ability to achieve its objectives, the Company successfully executing its growth strategy, the ability of the Company to obtain future financings or complete offerings on acceptable terms, failure to leverage the Company’s portfolio across entertainment and media platforms, dependence on the Company’s key personnel and general business, economic, competitive, political and social uncertainties. These risk factors are not intended to represent a complete list of the factors that could affect the Company which are discussed in the Company’s most recent MD&A. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. GameSquare assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
Appointments underscore acceleration of GameSquare’s multi-year growth strategy
FRISCO, TEXAS / ACCESS Newswire / January 20, 2026 / GameSquare Holdings, Inc. (“GameSquare” or the “Company”) (NASDAQ:GAME), a next-generation media, entertainment, technology, and digital-native platform company, today announced the appointment of Doug Rosen as Chief Commercial and Strategy Officer. The Company also announced the promotion of Paul Ioakim to Head of Agency.
These leadership appointments reflect GameSquare’s continued growth and recent organizational optimization as the Company accelerates its strategy to deliver innovative marketing, content, and interactive experiences across gaming, entertainment, and emerging media.
Doug Rosen Appointed Chief Commercial and Strategy Officer
As Chief Commercial and Strategy Officer, Rosen will lead GameSquare’s global commercial strategy and revenue growth, with responsibility for scaling the Company’s operating businesses, expanding strategic partnerships, and driving integrated go-to-market execution across gaming, media, and emerging platforms. In this role, he will work closely with GameSquare’s agency, media, and platform teams to build durable, repeatable revenue streams and accelerate long-term growth.
Rosen brings a proven track record as a senior operator and builder of media and gaming businesses. Most recently, he served as Head of Games & Emerging Media at Paramount, where he built and led the company’s global games and emerging media business. There, Rosen oversaw strategy, marketing, partnerships, and operations across console, mobile, and connected platforms, transforming the organization from a traditional licensing model into an active game developer and publisher with direct ownership of product, creative direction, and P&L performance. His leadership helped position games and interactive experiences as a core growth engine within the broader media portfolio.
Prior to Paramount, Rosen held senior leadership roles at NBCUniversal, DIRECTV, and HBO.
“Doug’s career reflects exceptional leadership in strategic growth and execution across leading media and entertainment organizations,” said Justin Kenna, Chief Executive Officer of GameSquare. “His vision for commercial innovation and deep understanding of dynamic media ecosystems will be invaluable as we enhance our platform and deepen our impact with global brand partners.”
“Gaming is a powerful force shaping modern culture,” said Rosen. “By bringing creators, media, and technology together under one organization, GameSquare has become a next-generation media and entertainment company that is redefining how audiences experience content and how brands connect with the next generation. I look forward to helping guide this next chapter of growth and innovation.”
Paul Ioakim Promoted to Head of Agency
As Head of Agency, Ioakim will lead GameSquare’s Agency Services division, unifying the Company’s full suite of marketing, creative, and media capabilities under a single strategic business unit. Under his leadership, the Agency Services group will focus on delivering cohesive, integrated solutions across creative strategy, influencer and community engagement, branded content, and immersive experiences.
Ioakim joined GameSquare in 2023 and most recently served as Head of Experiences, where he played a pivotal role in building live experiences, brand activations, and cross-platform campaigns that drove audience engagement and measurable client outcomes. His leadership has materially strengthened GameSquare’s experiential and integrated marketing capabilities.
Prior to GameSquare, Ioakim has 20 years of award winning experience leading Agency teams at leading Experiential, Sponsorship & Marketing agencies in the US & Australia
“Paul’s promotion reflects his exceptional leadership and deep expertise in agency operations,” Kenna added. “Bringing our agency services together under his direction enhances our ability to deliver cohesive, strategic solutions for brands seeking to connect with audiences through games, entertainment, and digital culture.”
These appointments further align GameSquare’s leadership structure with its long-term growth objectives. As the Company continues to scale its commercial platform and unify its agency capabilities, GameSquare believes it is positioned to drive sustained revenue growth, operational leverage, and long-term shareholder value.
About GameSquare Holdings, Inc.
GameSquare (NASDAQ:GAME) is a cutting-edge media, entertainment, and technology company transforming how brands and publishers connect with Gen Z, Gen Alpha, and Millennial audiences. With a platform that spans award-winning creative services, advanced analytics, and FaZe Clan Esports, one of the most iconic gaming organizations, we operate one of the largest gaming media networks in North America. As a digital-native business, GameSquare provides brands with unparalleled access to world-class creators and talent, delivering authentic connections across gaming, esports, and youth culture. Complementing our operating strategy, GameSquare has developed an innovative treasury management program designed to generate yield and enhance capital efficiency, reinforcing our commitment to building a dynamic, high-performing media company at the intersection of culture, technology, and next-generation financial innovation.
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: the Company’s future performance, returns generated by its business strategies, revenue, growth and profitability; and the Company’s ability to execute on its current and future business plans. These forward-looking statements are provided only to provide information currently available to us and are not intended to serve as and must not be relied on by any investor as, a guarantee, assurance or definitive statement of fact or probability. Forward-looking statements are necessarily based upon a number of estimates and assumptions which include, but are not limited to: the Company’s ability to grow its business and being able to execute on its business plans and strategies, the success of Company’s vendors and partners in their provision of services to the Company, the Company being able to recognize and capitalize on opportunities and the Company continuing to attract qualified personnel to support its development requirements. These assumptions, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: the Company’s annual meeting and corporate governance, its ability to achieve its objectives, the Company successfully executing its growth strategy, the ability of the Company to obtain future financings or complete offerings on acceptable terms, failure to leverage the Company’s portfolio across entertainment and media platforms, dependence on the Company’s key personnel and general business, economic, competitive, political and social uncertainties. These risk factors are not intended to represent a complete list of the factors that could affect the Company which are discussed in the Company’s most recent MD&A. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. GameSquare assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
Investor Relations Andrew Berger Phone: (216) 464-6400 Email: ir@gamesquare.com
Media Relations Chelsey Northern / The Untold Phone: (254) 855-4028 Email: pr@gamesquare.com
FRISCO, TEXAS / ACCESS Newswire / January 16, 2026 / GameSquare Holdings, Inc. (“GameSquare” or the “Company”) (NASDAQ:GAME), a next-generation media, entertainment, technology and digital native treasury company, today announced that its management team will be participating at the upcoming Sequire Investor Summit 2026.
The fourth edition of the Sequire Investor Summit is scheduled for January 20-22, 2026, at the Condado Vanderbilt Hotel in San Juan, Puerto Rico. This event brings together 75+ presenting companies, and over 500 investors, funds, family offices, and analysts. Justin Kenna, Chief Executive Officer, will deliver a presentation and host one-on-one meetings with investors.
For more information about the Sequire Investor Summit 2026, or to register, please visit the conference website at: https://puertorico.srax.com/.
About GameSquare Holdings, Inc.
GameSquare (NASDAQ:GAME) is a cutting-edge media, entertainment, and technology company transforming how brands and publishers connect with Gen Z, Gen Alpha, and Millennial audiences. With a platform that spans award-winning creative services, advanced analytics, and FaZe Clan Esports, one of the most iconic gaming organizations, we operate one of the largest gaming media networks in North America. As a digital-native business, GameSquare provides brands with unparalleled access to world-class creators and talent, delivering authentic connections across gaming, esports, and youth culture. Complementing our operating strategy, GameSquare has developed an innovative treasury management program designed to generate yield and enhance capital efficiency, reinforcing our commitment to building a dynamic, high-performing media company at the intersection of culture, technology, and next-generation financial innovation.
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: the Company’s future performance, returns generated by its business strategies, revenue, growth and profitability; and the Company’s ability to execute on its current and future business plans. These forward-looking statements are provided only to provide information currently available to us and are not intended to serve as and must not be relied on by any investor as, a guarantee, assurance or definitive statement of fact or probability. Forward-looking statements are necessarily based upon a number of estimates and assumptions which include, but are not limited to: the Company’s ability to grow its business and being able to execute on its business plans and strategies, the success of Company’s vendors and partners in their provision of services to the Company, the Company being able to recognize and capitalize on opportunities and the Company continuing to attract qualified personnel to support its development requirements. These assumptions, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: the Company’s annual meeting and corporate governance, its ability to achieve its objectives, the Company successfully executing its growth strategy, the ability of the Company to obtain future financings or complete offerings on acceptable terms, failure to leverage the Company’s portfolio across entertainment and media platforms, dependence on the Company’s key personnel and general business, economic, competitive, political and social uncertainties. These risk factors are not intended to represent a complete list of the factors that could affect the Company which are discussed in the Company’s most recent MD&A. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. GameSquare assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
FRISCO, TEXAS / ACCESS Newswire / January 6, 2026 / GameSquare Holdings, Inc. (“GameSquare” or the “Company”) (NASDAQ:GAME), a next-generation media, entertainment, technology and digital native treasury company, today announced it repurchased 543,057 shares of its common stock for $248,319, representing an average price of approximately $0.46 per share. Following this transaction, the Company has approximately $3.0 million remaining under its current authorization.
Consistent with its capital allocation priorities, GameSquare intends to continue to opportunistically repurchase its common stock. Since October 2025, the Company has repurchased a total of 3,535,574 shares of its common stock for $1,977,075, representing an average price of approximately $0.56 per share.
“We are pleased to announce our fourth consecutive monthly share repurchase,” said Justin Kenna, CEO of GameSquare. “The yield produced by our Digital Asset Treasury strategy enhances our financial flexibility and supports consistent share repurchases, while improving fundamentals across our operations underscore the underlying strength of GameSquare’s platform. Our continued buybacks reflect our conviction in the Company’s trajectory and our commitment to disciplined, shareholder-focused capital allocation.”
About GameSquare Holdings, Inc. GameSquare (NASDAQ:GAME) is a cutting-edge media, entertainment, and technology company transforming how brands and publishers connect with Gen Z, Gen Alpha, and Millennial audiences. With a platform that spans award-winning creative services, advanced analytics, and FaZe Clan Esports, one of the most iconic gaming organizations, we operate one of the largest gaming media networks in North America. As a digital-native business, GameSquare provides brands with unparalleled access to world-class creators and talent, delivering authentic connections across gaming, esports, and youth culture. Complementing our operating strategy, GameSquare has developed an innovative treasury management program designed to generate yield and enhance capital efficiency, reinforcing our commitment to building a dynamic, high-performing media company at the intersection of culture, technology, and next-generation financial innovation.
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: the Company’s future performance, returns generated by its business strategies, revenue, growth and profitability; and the Company’s ability to execute on its current and future business plans. These forward-looking statements are provided only to provide information currently available to us and are not intended to serve as and must not be relied on by any investor as, a guarantee, assurance or definitive statement of fact or probability. Forward-looking statements are necessarily based upon a number of estimates and assumptions which include, but are not limited to: the Company’s ability to grow its business and being able to execute on its business plans and strategies, the success of Company’s vendors and partners in their provision of services to the Company, the Company being able to recognize and capitalize on opportunities and the Company continuing to attract qualified personnel to support its development requirements. These assumptions, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: the Company’s annual meeting and corporate governance, its ability to achieve its objectives, the Company successfully executing its growth strategy, the ability of the Company to obtain future financings or complete offerings on acceptable terms, failure to leverage the Company’s portfolio across entertainment and media platforms, dependence on the Company’s key personnel and general business, economic, competitive, political and social uncertainties. These risk factors are not intended to represent a complete list of the factors that could affect the Company which are discussed in the Company’s most recent MD&A. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. GameSquare assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
Investor Relations Andrew Berger Phone: (216) 464-6400 Email: ir@gamesquare.com
Media Relations Chelsey Northern / The Untold Phone: (254) 855-4028 Email: pr@gamesquare.com
FRISCO, TEXAS / ACCESS Newswire / December 12, 2025 / GameSquare Holdings, Inc. (“GameSquare” or the “Company”) a next-generation media, entertainment, technology and digital native treasury company, today announced it repurchased 1,038,787 shares of its common stock for $563,801, representing an average price of approximately $0.54 per share. Following this transaction, the Company has approximately $3.3 million remaining under its current authorization.
Consistent with its capital allocation priorities, GameSquare intends to continue to opportunistically repurchase its common stock. Since October 2025, the Company has repurchased a total of 2,992,517 shares of its common stock for $1,728,756, representing an average price of approximately $0.58 per share.
“We are pleased to announce our third consecutive monthly share repurchase, highlighting the durability of our balance sheet and the continued execution across both our operating business and our digital asset treasury,” said Justin Kenna, CEO of GameSquare. “This repurchase is another step in advancing our strategic priorities as we scale our platform, expand margins, and position GameSquare for sustained value creation.”
About GameSquare Holdings, Inc. GameSquare (NASDAQ:GAME) is a cutting-edge media, entertainment, and technology company transforming how brands and publishers connect with Gen Z, Gen Alpha, and Millennial audiences. With a platform that spans award-winning creative services, advanced analytics, and FaZe Clan Esports, one of the most iconic gaming organizations, we operate one of the largest gaming media networks in North America. As a digital-native business, GameSquare provides brands with unparalleled access to world-class creators and talent, delivering authentic connections across gaming, esports, and youth culture. Complementing our operating strategy, GameSquare has developed an innovative treasury management program designed to generate yield and enhance capital efficiency, reinforcing our commitment to building a dynamic, high-performing media company at the intersection of culture, technology, and next-generation financial innovation.
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: the Company’s future performance, returns generated by its business strategies, revenue, growth and profitability; and the Company’s ability to execute on its current and future business plans. These forward-looking statements are provided only to provide information currently available to us and are not intended to serve as and must not be relied on by any investor as, a guarantee, assurance or definitive statement of fact or probability. Forward-looking statements are necessarily based upon a number of estimates and assumptions which include, but are not limited to: the Company’s ability to grow its business and being able to execute on its business plans and strategies, the success of Company’s vendors and partners in their provision of services to the Company, the Company being able to recognize and capitalize on opportunities and the Company continuing to attract qualified personnel to support its development requirements. These assumptions, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: the Company’s annual meeting and corporate governance, its ability to achieve its objectives, the Company successfully executing its growth strategy, the ability of the Company to obtain future financings or complete offerings on acceptable terms, failure to leverage the Company’s portfolio across entertainment and media platforms, dependence on the Company’s key personnel and general business, economic, competitive, political and social uncertainties. These risk factors are not intended to represent a complete list of the factors that could affect the Company which are discussed in the Company’s most recent MD&A. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. GameSquare assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
Corporate Contact Lou Schwartz, President Phone: (216) 464-6400 Email: ir@gamesquare.com
Investor Relations Andrew Berger Phone: (216) 464-6400 Email: ir@gamesquare.com
Media Relations Chelsey Northern / The Untold Phone: (254) 855-4028 Email: pr@gamesquare.com
Launch of the FaZe Esports Pass ushers in a new era of fan engagement by merging gaming culture, collectibles, and community into one ecosystem.
FRISCO, TEXAS / ACCESS Newswire / November 21, 2025 / GameSquare Holdings, Inc. (“GameSquare” or the “Company”) (NASDAQ:GAME), a next-generation media, entertainment, and technology company, today announced the launch of the FaZe Esports Pass, an all-access digital membership developed in partnership with Clout, an emerging fan-engagement platform transforming how audiences connect with the brands, teams, and creators they love.
The FaZe Esports Pass, located on the Clout platform, introduces a new, scalable digital product designed to deepen fan engagement, expand recurring revenue streams, and unlock a long-term, gamified marketplace for FaZe fans worldwide. The FaZe Esports Pass gives fans access to exclusive rewards, challenges, and benefits through a gamified setting, allowing users to progress through a battlepass-styled marketplace for real rewards and unique drops.
Season 1 runs through February 18th, 2026. Fans can sign up for the FaZe Esports Pass Clout platform (available on iOS, and Android).
“The FaZe Esports Pass and our partnership with Clout mark major milestones in executing our digital strategy and building scalable, high-margin products across the GameSquare ecosystem,” said Justin Kenna, CEO of GameSquare. “The FaZe Esports Pass is purpose-built for today’s fan offering an interactive, gamified, and reward-driven online experience. It expands our monetization opportunities, strengthens the FaZe Esports brand, and creates a new repeatable product framework we can extend into other GameSquare properties, teams, and partners.”
“The FaZe Esports Pass represents the next evolution of fan engagement, and we’re excited to bring this to fans on Clout,” said Stu Porter, CEO of Clout. “Fans have always wanted to be part of the story and rewarded for their engagement. Now they can play, earn, and collect inside an experience built entirely for them.”
The FaZe Esports Pass expands GameSquare’s growing portfolio of owned digital products and fan monetization channels. It provides:
A new recurring digital revenue stream through season-based memberships
A scalable foundation for future brand integrations across GameSquare’s ecosystem
High-margin digital rewards and low-friction onboarding for fans
A direct engagement layer between FaZe Esports and millions of fans worldwide
Future seasons will introduce new collaborations, partner integrations, reward tiers, and expanded cross-ecosystem features powered by GameSquare’s growing technology infrastructure.
About Clout
Clout gamifies fandom by turning engagement into real rewards. Fans engage, compete, earn XP & coins, and redeem marketplace prizes while connecting with the teams, brands, and creators they love most. Built for fans and powered by community, Clout’s mission is to reward fan engagement and redefine participation in the online culture, gaming and sports ecosystem. For more information – visit www.playclout.gg.
About FaZe Esports
FaZe Esports is the competitive arm of the FaZe organization, representing one of the most recognized names in global esports. Known for its championship teams and impact across titles like Counter-Strike, Call of Duty, and Fortnite, FaZe Esports continues to shape the future of competitive gaming and fan-driven entertainment.
About GameSquare Holdings, Inc.
GameSquare (NASDAQ: GAME) is a cutting-edge media, entertainment, and technology company transforming how brands and publishers connect with Gen Z, Gen Alpha, and Millennial audiences. With a platform that spans award-winning creative services, advanced analytics, and FaZe Esports, one of the most iconic gaming organizations, we operate one of the largest gaming media networks in North America. As a digital-native business, GameSquare provides brands with unparalleled access to world-class creators and talent, delivering authentic connections across gaming, esports, and youth culture. Complementing our operating strategy, GameSquare has developed an innovative treasury management program designed to generate yield and enhance capital efficiency, reinforcing our commitment to building a dynamic, high-performing media company at the intersection of culture, technology, and next-generation financial innovation.
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: the Company’s future performance, returns generated by its business strategies, revenue, growth and profitability; and the Company’s ability to execute on its current and future business plans. These forward-looking statements are provided only to provide information currently available to us and are not intended to serve as and must not be relied on by any investor as, a guarantee, assurance or definitive statement of fact or probability. Forward-looking statements are necessarily based upon a number of estimates and assumptions which include, but are not limited to: the Company’s ability to grow its business and being able to execute on its business plans and strategies, the success of Company’s vendors and partners in their provision of services to the Company, the Company being able to recognize and capitalize on opportunities and the Company continuing to attract qualified personnel to support its development requirements. These assumptions, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: the Company’s annual meeting and corporate governance, its ability to achieve its objectives, the Company successfully executing its growth strategy, the ability of the Company to obtain future financings or complete offerings on acceptable terms, failure to leverage the Company’s portfolio across entertainment and media platforms, dependence on the Company’s key personnel and general business, economic, competitive, political and social uncertainties.
These risk factors are not intended to represent a complete list of the factors that could affect the Company which are discussed in the Company’s most recent MD&A. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. GameSquare assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
Corporate Contact Lou Schwartz, President Phone: (216) 464-6400 Email: ir@gamesquare.com
Investor Relations Andrew Berger Phone: (216) 464-6400 Email: ir@gamesquare.com
Media Relations Alana Battaglia / The Untold Email: pr@gamesquare.com
FRISCO, TEXAS / ACCESS Newswire / November 20, 2025 / GameSquare Holdings, Inc. (“GameSquare” or the “Company”) a next-generation media, entertainment, technology and digital native treasury company, today announced it repurchased 1,120,606 shares of its common stock for $565,806, representing an average price of approximately $0.50 per share. Following this transaction, the Company has approximately $3.9 million remaining under its current authorization.
Consistent with its capital allocation priorities, GameSquare intends to continue to opportunistically repurchase its common stock. Since October 2025, the Company has repurchased a total of 1,953,730 shares of its common stock for $1,164,955, representing an average price of approximately $0.60 per share.
“GameSquare has never been in a stronger financial and operating position,” said Justin Kenna, CEO of GameSquare. “At current share prices, we see a compelling dislocation between our intrinsic value and market value, and we will continue to allocate capital to opportunistic repurchases where we believe it meaningfully enhances shareholder value. This buyback is a clear signal of that conviction and the strength of our business model.”
About GameSquare Holdings, Inc. GameSquare (NASDAQ:GAME) is a cutting-edge media, entertainment, and technology company transforming how brands and publishers connect with Gen Z, Gen Alpha, and Millennial audiences. With a platform that spans award-winning creative services, advanced analytics, and FaZe Clan Esports, one of the most iconic gaming organizations, we operate one of the largest gaming media networks in North America. As a digital-native business, GameSquare provides brands with unparalleled access to world-class creators and talent, delivering authentic connections across gaming, esports, and youth culture. Complementing our operating strategy, GameSquare has developed an innovative treasury management program designed to generate yield and enhance capital efficiency, reinforcing our commitment to building a dynamic, high-performing media company at the intersection of culture, technology, and next-generation financial innovation.
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: the Company’s future performance, returns generated by its business strategies, revenue, growth and profitability; and the Company’s ability to execute on its current and future business plans. These forward-looking statements are provided only to provide information currently available to us and are not intended to serve as and must not be relied on by any investor as, a guarantee, assurance or definitive statement of fact or probability. Forward-looking statements are necessarily based upon a number of estimates and assumptions which include, but are not limited to: the Company’s ability to grow its business and being able to execute on its business plans and strategies, the success of Company’s vendors and partners in their provision of services to the Company, the Company being able to recognize and capitalize on opportunities and the Company continuing to attract qualified personnel to support its development requirements. These assumptions, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: the Company’s annual meeting and corporate governance, its ability to achieve its objectives, the Company successfully executing its growth strategy, the ability of the Company to obtain future financings or complete offerings on acceptable terms, failure to leverage the Company’s portfolio across entertainment and media platforms, dependence on the Company’s key personnel and general business, economic, competitive, political and social uncertainties. These risk factors are not intended to represent a complete list of the factors that could affect the Company which are discussed in the Company’s most recent MD&A. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. GameSquare assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
Corporate Contact Lou Schwartz, President Phone: (216) 464-6400 Email: ir@gamesquare.com
Investor Relations Andrew Berger Phone: (216) 464-6400 Email: ir@gamesquare.com
Media Relations Chelsey Northern / The Untold Phone: (254) 855-4028 Email: pr@gamesquare.com
The four-week campaign attracted over 3.6 million players and the Cowboys received 56.6 million impressions for their brand
FRISCO, TEXAS / ACCESS Newswire / November 18, 2025 / Zoned, a GameSquare Company (NASDAQ:GAME) announced today a highly successful world building campaign for the Dallas Cowboys. As part of the campaign, the Dallas Cowboys leveled up their presence in gaming with a landmark Fortnite collaboration, bringing the iconic Cowboys Star and brand into custom creative maps inside Fortnite. Powered by Lenovo and in partnership with Zoned, this activation represented a bold step in engaging the next generation of Cowboys fans in an interactive way. Watch the trailer HERE.
The four-week campaign attracted over 3.6 million players and the Cowboys received 56.6 million impressions for their brand. The campaign began on October 3, and featured a month-long takeover across four fan-favorite Fortnite Creative maps, each debuting on a different date. Maps included:
Secret Red vs. Blue – featuring Cowboys logos and banners in the arena, custom gear like a backpack and helmet power-up, and even a throwable football weapon
Fortnite Finishers FFA – featuring custom Cowboys finishing moves, unlockable jerseys, and other Cowboys branding
Speed Realistic 2v2 – repping the Cowboys with branded arenas, team takeovers, and custom loadouts
Zombie Escape Tag – set in an apocalyptic Cowboys stadium with branded helmets and hats and MVP moments powered by the Dallas Cowboys
“At Zoned, we build campaigns that are focused on engaging the target audience where they organically spend their time,” said Carlos Tovar, President of Zoned. “Fortnite has become a social hub for young football fans and we’re thrilled to partner with the Cowboys to bring the energy of this team to fans through this new lens. Together, we’re creating an interactive experience for Fortnite fans and Cowboys fans alike.”
Together, the Cowboys, Zoned and Lenovo continue to blend sports tradition with digital innovation, creating signature experiences for fans inside Fortnite. By pairing the Cowboys’ iconic brand with Zoned’s creative expertise, the partnership ensures players encounter authentic, football-inspired moments throughout the game.
This historic collaboration marks the Cowboys’ continued expansion into the gaming space, underscoring the organization’s commitment to fan engagement across a wide array of platforms. For updates and access to the collaboration, fans can follow announcements on the Cowboys’ social media channels and on the Cowboys United app.
About ZONED: ZONED is a marketing firm built to move the internet forward. Powered by chronically online strategists, creatives, and niche experts, we help brands authentically connect with their audiences by decoding consumer behavior and identifying hot pockets of culture that create early adaptor advantages. Our team draws from mixed backgrounds of gaming, music and sports that allows Zoned campaigns to cover all corners of the internet. Using our combined experience, we work to create unique cultural crossover opportunities that will leave a footprint on the digital landscape.
ZONED doesn’t follow culture, we help create it. For more information – visit www.zoned.gg.
About GameSquare Holdings, Inc. GameSquare (NASDAQ: GAME) is a cutting-edge media, entertainment, and technology company transforming how brands and publishers connect with Gen Z, Gen Alpha, and Millennial audiences. With a platform that spans award-winning creative services, advanced analytics, and FaZe Clan Esports, one of the most iconic gaming organizations, we operate one of the largest gaming media networks in North America. As a digital-native business, GameSquare provides brands with unparalleled access to world-class creators and talent, delivering authentic connections across gaming, esports, and youth culture. Complementing our operating strategy, GameSquare has developed an innovative treasury management program designed to generate yield and enhance capital efficiency, reinforcing our commitment to building a dynamic, high-performing media company at the intersection of culture, technology, and next-generation financial innovation.
Forward-Looking Information This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: the Company’s future performance, returns generated by its business strategies, revenue, growth and profitability; and the Company’s ability to execute on its current and future business plans. These forward-looking statements are provided only to provide information currently available to us and are not intended to serve as and must not be relied on by any investor as, a guarantee, assurance or definitive statement of fact or probability. Forward-looking statements are necessarily based upon a number of estimates and assumptions which include, but are not limited to: the Company’s ability to grow its business and being able to execute on its business plans and strategies, the success of Company’s vendors and partners in their provision of services to the Company, the Company being able to recognize and capitalize on opportunities and the Company continuing to attract qualified personnel to support its development requirements. These assumptions, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: the Company’s annual meeting and corporate governance, its ability to achieve its objectives, the Company successfully executing its growth strategy, the ability of the Company to obtain future financings or complete offerings on acceptable terms, failure to leverage the Company’s portfolio across entertainment and media platforms, dependence on the Company’s key personnel and general business, economic, competitive, political and social uncertainties. These risk factors are not intended to represent a complete list of the factors that could affect the Company which are discussed in the Company’s most recent MD&A. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. GameSquare assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
Corporate Contact Lou Schwartz, President Phone: (216) 464-6400 Email: ir@gamesquare.com
Investor Relations Andrew Berger Phone: (216) 464-6400 Email: ir@gamesquare.com
Media Relations Alana Battaglia / The Untold Email: pr@gamesquare.com
Net income from continuing operations of $5.9 million in Q3 2025
Gross margin increased 20.0% sequentially to 49.4%
Balance sheet at September 30, 2025, strongest in the Company’s history with $81.5 million in DAT assets and cash, no debt and shareholders’ equity of $78.7 million
Management expects continued positive momentum in Q4 2025
FRISCO, TEXAS / ACCESS Newswire / November 13, 2025 / GameSquare Holdings, Inc. (NASDAQ:GAME), (“GameSquare”, or the “Company”), today announced financial results for the three- and nine-months ended September 30, 2025.
“2025 is a defining year for GameSquare and our third quarter results confirm that our strategy is working,” stated Justin Kenna, CEO of GameSquare. “We are sharper, stronger, and more focused than ever as the actions we have taken over the past year have improved profitability, strengthened our balance sheet and positioned us with a differentiated, end-to-end platform built for scale.”
“During the third quarter, we wound down Frankly Media, consolidated our technology businesses under Stream Hatchet, and acquired Click Management (“Click”). These actions have expanded GameSquare’s profitability and strengthened our go forward operating platform. Click is already demonstrating its strategic and financial value by deepening our reach into creator-led brand partnerships, accelerating growth across our media and agency ecosystems, and unlocking new expansion opportunities. Combined with Zoned, Stream Hatchet, GameSquare Experiences, FaZe Clan Esports, and global media partnerships, we now operate one of the most comprehensive and integrated platforms in the industry.”
“This quarter also marked a milestone with the launch of our digital asset treasury strategy. With the support of established onchain advisors and partners, we have built an institutional-grade, yield-generating asset strategy that enhances our balance sheet, introduces a compounding return engine, and creates strategic optionality that complements our core operating business. Importantly, this also enabled us to fund our initial share repurchase program, reflecting our commitment to driving shareholder value.”
“GameSquare has never been in a stronger strategic, operational, or financial position. We have proactively streamlined our business, invested in high-growth areas, strengthened margins, and expanded our total addressable market. As we enter the next chapter of growth, we are doing so with momentum, a fortified balance sheet, and a scalable platform built to win in media, creators, gaming, and Web3. The progress we are making today sets the stage for durable growth, expanding profitability, and long-term value creation for our shareholders,” concluded Mr. Kenna.
GameSquare’s Treasury Management Assets at September 30, 2025:
Ethereum (“ETH”) Assets: The Company held 15,618 ETH, with an original cost basis of $55.5 million, almost all of which was in its onchain yield strategy with Dialectic, with an unrealized gain on ETH of $9.3 million in the third quarter.
NFT Holdings: The Company owned eight CryptoPunks for a total value of $6.9 million, which the Company expects will begin contributing to its yield strategy in the fourth quarter.
Altcoin Assets: The Company had $3.8 million of altcoins on its balance sheet at September 30, 2025, primarily in $Anime and $Rekt Coin.
Yield Strategy: GameSquare’s onchain yield strategy with Dialectic commenced August 1, 2025, and achieved a yield of $0.6 million for the last two months of the quarter.
Total DAT + Cash: The Company had $81.5 million in ETH, NFT, Altcoin investments, interests in the Dialectic onchain yield strategy and cash, or $0.83 per share and no debt outstanding as of September 30, 2025.
Stock Repurchase: On October 3, 2025, GameSquare announced its initial stock repurchase under its previously announced $5 million authorization. The Company repurchased 833,124 shares of its common stock for $599,148, representing an average price of approximately $0.72.
Reported results for the three months ended September 30, 2025, compared to September 30, 2024
Revenue of $11.3 million, compared to $9.3 million
Gross profit of $5.6 million, compared to $4.2 million
Gross margin of 49.4%, compared to 45.3%
Net income from continuing operations of $5.9 million, compared to a net loss from continuing operations of $3.9 million
Net loss attributable to GameSquare of $0.8 million, compared to a net loss of $5.5 million
Net loss attributable to GameSquare was 7.1% of revenue, versus 58.9% of revenue
Adjusted EBITDA loss of $0.6 million, compared to a loss of $0.9 million
Adjusted EBITDA loss was 5.3% of revenue, versus 9.5% of revenue
Proforma* results for the three months ended September 30, 2025
Revenue of $15.5 million
Gross profit of $6.7 million
Adjusted EBITDA loss of $0.2 million
* Proforma financial results includes the results of Click for the full 2025 third quarter
Reported results for the nine months ended September 30, 2025, compared to September 30, 2024
Revenue of $26.5 million, compared to $19.9 million
Gross profit of $11.0 million, compared to $7.5 million
Gross margin of 41.6%, compared to 37.6%
Net loss from continuing operations of $1.8 million, compared to a net loss from continuing operations of $15.3 million
Net loss attributable to GameSquare of $9.0 million, compared to a net loss of $22.4 million
Net loss attributable to GameSquare was 33.8% of revenue, versus 112.2% of revenue
Adjusted EBITDA loss of $6.3 million, compared to a loss of $8.8 million
Adjusted EBITDA loss was 23.9% of revenue, versus 44.3% of revenue
Use of Non-GAAP Financial Measures
This release includes measures that are not in accordance with U.S. generally accepted accounting principles (“Non-GAAP measures”). These Non-GAAP measures should be viewed in addition to, and not as a substitute for, the Company’s reported GAAP results, and may be different from Non-GAAP measures used by other companies. In addition, these Non-GAAP measures are not based on any comprehensive set of accounting rules or principles. GameSquare’s management uses these Non-GAAP measures for internal budgeting and forecasting purposes and to evaluate GameSquare’s financial performance. GameSquare’s management believes the presentation of these Non-GAAP measures is useful to investors for comparing prior periods and analyzing ongoing business trends and operating results. For further information regarding these Non-GAAP measures, please refer to the tables presenting reconciliations of our Non-GAAP results to our U.S. GAAP results and the “Management’s use of Non-GAAP Measures” that accompany this press release.
Updated 2025 Outlook
The Company believes its operating and financial trajectory in the second half of 2025 will be significantly stronger, supported by the Company’s digital asset treasury strategy, sales pipeline, the contribution of the September 11, 2025, Click Management acquisition, and the benefit of ongoing restructuring initiatives.
On a proforma basis, GameSquare continues to expect second half revenue of $36.8 million and adjusted EBITDA of $2.9 million.
Conference Call Details
Justin Kenna, CEO, Lou Schwartz, President, and Mike Munoz CFO are scheduled to host a conference call with the investment community. Analysts and interested investors can join the call via the details below:
Corporate Contact Lou Schwartz, President Phone: (216) 464-6400 Email: ir@gamesquare.com
Investor Relations Andrew Berger Phone: (216) 464-6400 Email: ir@gamesquare.com
Media Relations Chelsey Northern / The Untold Phone: (254) 855-4028 Email: pr@gamesquare.com
About GameSquare Holdings, Inc.
GameSquare (NASDAQ:GAME) is a cutting-edge media, entertainment, and technology company transforming how brands and publishers connect with Gen Z, Gen Alpha, and Millennial audiences. With a platform that spans award-winning creative services, advanced analytics, and FaZe Clan Esports, one of the most iconic gaming organizations, we operate one of the largest gaming media networks in North America. As a digital-native business, GameSquare provides brands with unparalleled access to world-class creators and talent, delivering authentic connections across gaming, esports, and youth culture. Complementing our operating strategy, GameSquare has developed an innovative treasury management program designed to generate yield and enhance capital efficiency, reinforcing our commitment to building a dynamic, high-performing media company at the intersection of culture, technology, and next-generation financial innovation.
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: the Company’s future performance, revenue, growth and profitability; and the Company’s ability to execute on its current and future business plans. These forward-looking statements are provided only to provide information currently available to us and are not intended to serve as and must not be relied on by any investor as, a guarantee, assurance or definitive statement of fact or probability. Forward-looking statements are necessarily based upon a number of estimates and assumptions which include, but are not limited to: the Company’s ability to grow its business and being able to execute on its business plans, the success of Company’s vendors and partners in their provision of services to the Company, the Company being able to recognize and capitalize on opportunities and the Company continuing to attract qualified personnel to support its development requirements. These assumptions, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: the Company’s ability to achieve its objectives, the Company successfully executing its growth strategy, the ability of the Company to obtain future financings or complete offerings on acceptable terms, failure to leverage the Company’s portfolio across entertainment and media platforms, dependence on the Company’s key personnel and general business, economic, competitive, political and social uncertainties. These risk factors are not intended to represent a complete list of the factors that could affect the Company which are discussed in the Company’s most recent MD&A. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. GameSquare assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
GameSquare Holdings, Inc. Consolidated Balance Sheets (Unaudited)
September 30 2025
December 31, 2024
Assets
Cash
$
6,012,219
$
12,094,950
Restricted cash
1,475,593
1,054,030
Accounts receivable, net
13,268,734
21,330,847
Digital assets
4,020,415
–
Government remittances
286,973
119,721
Promissory note receivable, current
202,507
379,405
Prepaid expenses and other current assets
954,885
1,493,619
Total current assets
26,221,326
36,472,572
Investment
2,332,071
2,199,909
Investment in ETH
64,539,714
–
Promissory note receivable, non-current
8,581,770
9,212,785
Property and equipment, net
137,269
303,950
Goodwill
4,220,754
12,704,979
Intangible assets, definite lived, net
6,678,804
15,265,736
Intangible assets, indefinite lived
6,906,820
–
Right-of-use assets
1,500,731
2,570,516
Total assets
$
121,119,259
$
78,730,447
Liabilities and Shareholders’ Equity
Accounts payable
$
18,445,123
$
27,349,372
Accrued expenses and other current liabilities
12,089,146
13,694,179
Players liability account
47,535
47,535
Deferred revenue
5,239,322
2,726,121
Current portion of operating lease liability
433,390
748,916
Line of credit
(118,945
)
3,501,457
Convertible debt carried at fair value, current
–
6,481,704
Warrant liability
7,045
14,314
Deferred purchase consideration
3,996,548
–
Arbitration reserve
164,091
199,374
Total current liabilities
40,303,255
54,762,972
Convertible debt carried at fair value, non-current
–
9,908,784
Contingent purchase consideration, non-current
807,000
–
Operating lease liability
1,265,332
2,054,443
Total liabilities
42,375,587
66,726,199
Commitments and contingencies (Note 14)
Preferred stock ($0.0001 par value, 50,000,000 authorized, 3,433 and 0 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively)
–
–
Common stock ($0.0001 par value, 100,000,000 shares authorized, 98,380,767 and 32,635,995 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively)
9,838
3,264
Additional paid-in capital
210,411,286
119,438,370
Accumulated other comprehensive loss
(524,003
)
(208,617
)
Non-controlling interest
–
14,942,287
Accumulated deficit
(131,153,449
)
(122,171,056
)
Total shareholders’ equity
78,743,672
12,004,248
Total liabilities and shareholders’ equity
$
121,119,259
$
78,730,447
GameSquare Holdings, Inc. Consolidated Statements of Operations and Comprehensive Loss (Unaudited)
Three months ended September 30,
Nine months ended September 30,
2025
2024
2025
2024
Revenue
$
11,315,003
$
9,306,777
$
26,542,646
$
19,930,359
Cost of revenue
5,722,273
5,091,393
15,500,495
12,439,479
Gross profit
5,592,730
4,215,384
11,042,151
7,490,880
Operating expenses:
General and administrative
6,170,930
3,744,312
13,766,667
11,806,277
Selling and marketing
1,464,040
1,196,593
4,188,399
4,116,694
Research and development
519,275
450,637
1,550,378
1,447,954
Depreciation and amortization
271,484
350,324
727,789
1,025,004
Restructuring charges
(1,535,097
)
330,167
(814,377
)
330,167
Other operating expenses
1,095,258
1,287,223
2,387,823
3,417,687
Total operating expenses
7,985,890
7,359,256
21,806,679
22,143,783
Loss from continuing operations
(2,393,160
)
(3,143,872
)
(10,764,528
)
(14,652,903
)
Other income (expense), net:
Interest income (expense)
166,831
178,008
309,733
(17,072
)
Loss on debt extinguishment
–
(1,032,070
)
–
(1,032,070
)
Change in fair value of convertible debt carried at fair value
(38,033
)
(98,937
)
289,883
357,822
Change in fair value of warrant liability
19,659
26,482
7,275
79,382
Arbitration settlement reserve
45,917
113,583
35,283
252,208
Other income (expense), net
8,145,567
21,267
8,276,426
(246,066
)
Total other income (expense), net
8,339,941
(791,667
)
8,918,600
(605,796
)
Loss from continuing operations before income taxes
5,946,781
(3,935,539
)
(1,845,928
)
(15,258,699
)
Income tax benefit
–
–
–
–
Net income (loss) from continuing operations
5,946,781
(3,935,539
)
(1,845,928
)
(15,258,699
)
Net income (loss) from discontinued operations
(6,755,224
)
(3,528,876
)
(9,154,597
)
(9,469,805
)
Net loss
(808,443
)
(7,464,415
)
(11,000,525
)
(24,728,504
)
Net loss attributable to non-controlling interest
–
1,979,943
2,018,132
2,369,533
Net loss attributable to attributable to GameSquare Holdings, Inc.
$
(808,443
)
$
(5,484,472
)
$
(8,982,393
)
$
(22,358,971
)
Comprehensive loss, net of tax:
Net loss
$
(808,443
)
$
(7,464,415
)
$
(11,000,525
)
$
(24,728,504
)
Change in foreign currency translation adjustment
70,071
360,004
(315,386
)
373,187
Comprehensive loss
(738,372
)
(7,104,411
)
(11,315,911
)
(24,355,317
)
Comprehensive loss attributable to non-controlling interest
–
1,979,943
2,018,132
2,369,533
Comprehensive loss
$
(738,372
)
$
(5,124,468
)
$
(9,297,779
)
$
(21,985,784
)
Income (loss) per common share attributable to GameSquare Holdings, Inc. – basic and assuming dilution:
From continuing operations
$
0.07
$
(0.13
)
$
(0.03
)
$
(0.58
)
From discontinued operations
(0.08
)
(0.05
)
(0.13
)
(0.27
)
Loss per common share attributable to GameSquare Holdings, Inc. – basic and assuming dilution
$
(0.01
)
$
(0.18
)
$
(0.16
)
$
(0.85
)
Weighted average common shares outstanding – basic and diluted
87,949,202
31,270,253
54,733,322
26,378,453
Management’s use of Non-GAAP Measures
This release contains certain financial performance measures, including “EBITDA” and “Adjusted EBITDA,” that are not recognized under accounting principles generally accepted in the United States of America (“GAAP”) and do not have a standardized meaning prescribed by GAAP. As a result, these measures may not be comparable to similar measures presented by other companies. For a reconciliation of these measures to the most directly comparable financial information presented in the Financial Statements in accordance with GAAP, see the section entitled “Reconciliation of Non-GAAP Measures” below.
We believe EBITDA is a useful measure to assess the performance of the Company as it provides more meaningful operating results by excluding the effects of expenses that are not reflective of our underlying business performance and other one-time or non-recurring expenses. We define “EBITDA” as net income (loss) before (i) depreciation and amortization; (ii) income taxes; and (iii) interest expense.
Adjusted EBITDA
We believe Adjusted EBITDA is a useful measure to assess the performance of the Company as it provides more meaningful operating results by excluding the effects of expenses that are not reflective of our underlying business performance and other one-time or non-recurring expenses. We define “Adjusted EBITDA” as EBITDA adjusted to exclude extraordinary items, non-recurring items and other non-cash items, including, but not limited to (i) share based compensation expense, (ii) transaction costs related to merger and acquisition activities, (iii) arbitration settlement reserves and other non-recurring legal settlement expenses, (iv) restructuring costs, primarily comprised of employee severance resulting from integration of acquired businesses, (v) impairment of goodwill and intangible assets, (vi) gains and losses on extinguishment of debt, (vii) change in fair value of assets and liabilities adjusted to fair value on a quarterly basis, (viii) gains and losses from discontinued operations, and (ix) net income (loss) attributable to non-controlling interest.
Reconciliation of Non-GAAP Measures
A reconciliation of Adjusted EBITDA to the most directly comparable measure determined under US GAAP is set out below. (Unaudited)
Three months ended September 30,
Nine months ended September 30,
2025
2024
2025
2024
Net loss
$
(808,443
)
$
(7,464,415
)
$
(11,000,525
)
$
(24,728,504
)
Interest expense
(166,831
)
(178,008
)
(309,733
)
17,072
Income tax benefit
–
–
–
–
Amortization and depreciation
271,484
350,324
727,789
1,025,004
Share-based payments
1,871,720
267,117
1,906,334
1,288,484
(Gain) loss on digital assets
(8,060,149
)
–
(8,060,149
)
–
Transaction costs
1,095,258
1,287,223
2,387,823
3,417,687
Arbitration settlement reserve
(45,917
)
(113,583
)
(35,283
)
(252,208
)
Restructuring costs
(1,535,097
)
330,167
(814,377
)
330,167
Loss on extinguishment of debt
–
1,032,070
–
1,032,070
Change in fair value of warrant liability
(19,659
)
(26,482
)
(7,275
)
(79,382
)
Change in fair value of convertible debt carried at fair value
FRISCO, TEXAS / ACCESS Newswire / November 10, 2025 / GameSquare Holdings, Inc. (NASDAQ:GAME), (“GameSquare”, or the “Company”), announced today that it expects to release its third-quarter 2025 financial results after the close of business on Thursday, November 13, 2025. A copy of the news release will be available on the investor website.
Shareholders, investors, interested parties, and media are encouraged to join the Company’s earnings call via webcast on Thursday, November 13, 2025, at 5:00 p.m. ET. The call will be hosted by Justin Kenna, GameSquare’s CEO and will be joined by other members of GameSquare’s management team. Please join the call at
GameSquare (NASDAQ:GAME) is a cutting-edge media, entertainment, and technology company transforming how brands and publishers connect with Gen Z, Gen Alpha, and Millennial audiences. With a platform that spans award-winning creative services, advanced analytics, and FaZe Clan Esports, one of the most iconic gaming organizations, we operate one of the largest gaming media networks in North America. As a digital-native business, GameSquare provides brands with unparalleled access to world-class creators and talent, delivering authentic connections across gaming, esports, and youth culture. Complementing our operating strategy, GameSquare has developed an innovative treasury management program designed to generate yield and enhance capital efficiency, reinforcing our commitment to building a dynamic, high-performing media company at the intersection of culture, technology, and next-generation financial innovation.
