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GameSquare Holdings Reports 2026 Second Quarter Results with Revenue up 137% YoY and Record Second Quarter Adjusted EBITDA

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  • GameSquare Holdings reported second quarter 2026 revenue of $18.5 million, a 137% year-over-year increase from $7.8 million.
  • Gross margin for the quarter reached 49.0%, representing a 19.6 percentage point year-over-year increase from 29.4%.
  • The company posted a net loss of $10.6 million for the quarter, which included a $7.8 million unrealized loss on digital assets & investments in the ETH fund.
  • Adjusted EBITDA for the second quarter was positive $1.0 million, driven by higher sales, gross margin expansion, & improved operating leverage.
  • Revenue for the six months ended June 30, 2026, totaled $33.0 million, compared to $15.2 million in the prior year period.
  • Six-month net loss was $28.2 million, impacted by a $22.4 million change in fair value loss on digital assets & transaction costs related to the TubeBuddy acquisition.
  • Six-month adjusted EBITDA loss narrowed to $0.1 million from a $5.7 million loss in the previous year period.
  • Proforma results for the six months ended June 30, 2026, showed revenue of $34.3 million & adjusted EBITDA of $0.3 million.
  • The company repurchased 2.8 million shares in the second quarter for $1.2 million & an additional 1.0 million shares in July for $0.4 million.
  • As of August 7, 2026, total share repurchases since October 2025 exceeded 8.8 million shares for nearly $4.1 million, with $10.9 million remaining under authorization.
  • GameSquare reiterated its 2026 annual guidance of $85 million to $90 million in revenue, a gross margin of 35% to 40%, & adjusted EBITDA of over $5 million.
  • The company held 15,080.51 ETH & total cash, digital assets, & investments valued at $25.9 million as of June 30, 2026.
  • Deferred revenue increased 35.0% from December 31, 2025, reflecting growth in technology & SaaS revenue streams.
  • Strategic additions to the portfolio included the Esports Awards, The Mobies, & World of Dance, while Click added major creators Steak & SypherPK.
  • CEO Justin Kenna highlighted partnerships with Riot Games, Stream Hatchet, the U.S. Army, & FaZe Esports as key drivers of platform value.