TORONTO, ON / ACCESSWIRE / October 27, 2022 /GameSquare Esports Inc. (CSE:GSQ)(OTCQB:GMSQF)(FRA:29Q1) ("GameSquare", or the "Company"), today announced revenue guidance for its 2023 fiscal year of US$45 to US$50 million, and gross margin of 35-40%. Additionally, the company reaffirms its increased 2022 revenue guidance of US$27.5 to US$30.0 million, and gross margin of 35% to 40%.
"GameSquare is showing significant revenue growth across its businesses and year-to-date revenue performance is in line with our previously increased 2022 guidance," said Justin Kenna, CEO of GameSquare. "We are continuing to rapidly grow our sales pipeline in both number and size of RFPs throughout all our businesses, and the Company has booked significant revenue for the next fiscal year which supports our guidance including our ability to achieve a 65% increase in revenue year-over-year."
"GameSquare has quickly become a leading company in gaming and esports, and brands are recognizing the benefits of investing in the industry. Accelerating growth trends reflect the value we provide to brands and to consumers, and we are successfully executing our growth strategy," added Mr. Kenna. "The company's revenue guidance is based upon several factors including accelerating year-to-date revenue growth, closing of significant contracts expected to be recognized in 2023, and a robust sales pipeline."
Today's announcement reflects increasing interest from brands seeking to reach esports and gaming fans through GameSquare's unique and vertically integrated business model. In less than two years, the Company has grown to include leading creative agencies, some of the largest content creators and influencers in gaming, a unique media network, esports teams, industry leading talent in content production, merchandise and consumer products, and an audience of more than 220 million followers which is one of the largest in gaming.