GameSquare (GAME) investor relations material

Executive summary

• Revenue grew 137% year-over-year to $18.5 million in Q2 2026, with gross margin expanding by 19.6 percentage points to 49.0%.

• Adjusted EBITDA reached a record $1.0 million for the quarter, compared to a loss of $3.2 million in Q2 2025, driven by acquisitions, organic growth, and platform integration.

• Net loss was $10.6 million in Q2 2026, impacted by $7.8 million in unrealized and realized losses on digital assets and investments.

• Growth was driven by acquisitions (Click, TubeBuddy), expanded talent roster, and integrated platform capabilities, positioning the company as a differentiated player in the creator economy.

• Strategic partnerships and IP additions, including World of Dance, Esports Awards, and The Mobies, enhanced platform value.

Financial highlights

• Q2 2026 revenue was $18.5 million (Q2 2025: $7.8 million); gross profit: $9.0 million (Q2 2025: $2.3 million).

• Gross margin improved to 49% in Q2 2026, up from 29.4% year-over-year.

• Adjusted EBITDA was $1.0 million (Q2 2025: -$3.2 million), representing a 5.2% margin.

• Six months ended June 30, 2026: revenue $33.0 million (2025: $15.2 million), gross profit $14.7 million (2025: $5.4 million), net loss $28.2 million (2025: $7.8 million), adjusted EBITDA loss $0.1 million (2025: -$5.7 million).

• Cash, digital assets, and investments totaled $25.9 million as of June 30, 2026.

Outlook and guidance

• Reiterated FY2026 guidance: revenue of $85–$90 million, gross margin of 35–40%, and adjusted EBITDA over $5 million (excluding one-time items).

• Approximately 60% of annual revenue expected in the second half, with Q4 anticipated as the largest quarter.

• Around 70% of revenue for the year is already locked in as recurring or booked, providing strong visibility.

• Continued focus on organic growth, operating leverage, and disciplined capital allocation.

• Guidance reflects proforma inclusion of TubeBuddy as if acquired January 1, 2026.