Enthusiast Gaming (EGLX) investor relations material

Executive summary

• Q1 2026 revenue reached $9.4 million, up from $9.0 million year-over-year, driven by growth in web programmatic and events revenue.

• Adjusted EBITDA improved to $1.7 million from $0.7 million year-over-year, reflecting operational efficiency and cost control.

• Net loss narrowed to $1.5 million from $6.0 million in Q1 2025, primarily due to improved discontinued operations and higher gross profit.

• Over 100 million gamers engaged with the product portfolio in Q1 2026.

• CEO Alex Macdonald appointed to the Board of Directors; Jordan Gnat resigned from the board.

Financial highlights

• Revenue increased 5% year-over-year to $9.4 million, with gross profit up 9% to $8.0 million and gross margin rising to 85% from 82%.

• Cost of sales decreased to $1.4 million from $1.6 million, mainly due to lower third-party publisher and event costs.

• Adjusted EBITDA from discontinued operations improved to $(0.3) million from $(4.5) million.

• Net loss per share improved to $(0.01) from $(0.04) year-over-year.

Outlook and guidance

• Product advancements and launches, such as U.GG Plus and new Icy Veins initiatives, are expected to drive future growth.

• Strategic review continues, focusing on refinancing, recapitalization, and deleveraging.

• Anticipated growth from upcoming releases, including Deadlock open beta and new Icy Veins sister site in Q2 2026.