Engine Gaming and Media, Inc. (NASDAQ:GAME) Q4 2022 Earnings Conference Call November 30, 2022 4:30 PM ET

Company Representatives

Lou Schwartz - Chief Executive Officer

Tom Rogers - Executive Chairman of Engine Gaming and Media

Conference Call Participants

Michael Kupinski - Noble Capital Markets

Jason Tilchen - Canaccord Genuity

Operator

Greetings! And welcome to the Engine Gaming and Media, Fiscal Fourth Quarter and Full Year 2022 Conference Call.

Please note that this conference call is being recorded. [Operator Instructions].

Before we begin, I would like to caution listeners that comments made by management during this call may include forward-looking statements within the meaning of applicable securities laws. These statements involve material risks and uncertainties, and actual results could differ from those projected in any forward-looking statement due to numerous factors. For a description of these risks and uncertainties, please see Engine's fiscal financial statements and MD&A for its fiscal fourth quarter and full year 2022, ended August 31, 2022 available on SEDAR and EDGAR.

Important qualifications regarding forward-looking statements are also contained in Engine’s earnings release distributed early this afternoon, and also available on SEDAR and in EDGAR. Furthermore, the content of this conference call contains time-sensitive information accurate only as of today, November 29, 2022. Engine undertakes no obligation to revise or otherwise update any statements to reflect events or circumstances after the date of this call.

And I would now like to turn the conference over to Mr. Lou Schwartz, Chief Executive Officer; and Tom Rogers, Executive Chairman of Engine Gaming and Media. Thank you gentlemen, please go ahead.

Lou Schwartz

Thank you, operator, and thanks to everyone for joining us on our fiscal fourth quarter and full year 2022 earnings call. We had very substantial revenue growth when looked at on an annual and sequential basis for the quarter. To begin, total revenue for the full year ended August 31, 2022 increased 25.6% to a record $41.9 million from $33.3 million in the same year ago period.

Total revenue for the fourth quarter increased 24.4% to $11.5 million from $9.2 million in the fiscal third quarter of 2022. The increases were a function of substantial growth in advertising revenue and an increase in SaaS revenue, the two key revenue streams of our business.

For the full year of fiscal 2022, advertising revenue increased 28.6% to $32.7 million from $25.4 million in the prior year. Advertising revenue for the fourth quarter of fiscal 2022 was $9 million, increasing 29.2% from the fiscal third quarter of $7 million.