GameSquare Holdings, Inc. (NASDAQ:GAME) Q4 2024 Earnings Conference Call April 16, 2024 5:00 PM ET

Company Participants

Justin Kenna - Chief Executive Officer
Mike Munoz - Chief Financial Officer

Conference Call Participants

Sean McGowan - ROTH Capital Partners

Operator

Good afternoon and thank you for joining us for the GameSquare Holdings 2023 Full Year Conference Call. On the call today, we have Justin Kenna, GameSquare's CEO; Lou Schwartz, President; and Mike Munoz, CFO. [Operator Instructions]

Before management discusses the results, I'd like to remind everyone that certain statements in this call may be forward-looking in nature. These include statements involving known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied in our forward-looking statements. For information about forward-looking statements and risk factors, please see our 10-K for the year ended December 31, 2023 which is available on the company's website or with the Securities and Exchange Commission.

I will now turn the call over to GameSquare's CEO, Justin Kenna. Please go ahead.

Justin Kenna

Thank you and good afternoon to everyone joining us on today's call. I'm extremely excited to review the progress we are making at GameSquare as we pursue strategic priorities aimed at creating a next-generation media business. Since GameSquare's inception in August of 2020, we have quickly scaled revenue primarily through an M&A strategy focused on acquiring industry-leading technology, media and creative assets and we ended 2023 with $52 million in annual revenue compared to $28 million in 2022 and just $11 million in 2021.

Growth in 2023 would have been stronger had we owned Engine Gaming for the full year and revenue would've increased to $61 million in 2023. As you can see, we have been extremely active in executing our growth strategies, optimizing our business model and building a disruptive platform that we believe will create lasting value for our shareholders. To date, we have completed 5 acquisitions while divesting 2 non-core assets since August of 2020. Integrating acquisitions takes a significant amount of focus, resources and time. There are also onetime expenses over the near term that we incur before we start to see the financial benefits of operating and cost synergies. I want to recognize the dedication and efforts of the Board, management team and associates at GameSquare as well as our acquisition partners.

I believe we will see the benefits of our M&A efforts in 2024 and beyond and I want to use my time today to review our 2023 performance, the actions we have completed in 2023 and so far this year and the go-forward strategies we are pursuing before turning the call over to Mike to run through our financial results in 2023.