GameSquare Q2 Revenue Up 137% to $18.5M, Adjusted EBITDA Turns Positive
GAME sits 74% above its 52-week low of $0.235.
Summary
GameSquare reported Q2 revenue of $18.5 million, up 137% year-over-year, with adjusted EBITDA turning positive at $1.0 million. The company reiterated full-year guidance and repurchased 3.8 million shares.
Key Events · Earnings and Guidance · GAME
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Q2 Revenue Up 137%
Revenue reached $18.5 million, up from $7.8 million a year ago, beating the $17.15 million consensus.
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Adjusted EBITDA Turns Positive
Adjusted EBITDA was $1.0 million, a $4.2 million improvement from a $3.2 million loss in Q2 2025.
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Gross Margin Expands to 49.0%
Gross margin increased 19.6 percentage points year-over-year, driven by higher sales and operating leverage.
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Net Loss Includes Non-Cash Digital Asset Hit
Net loss of $10.6 million included a $7.8 million non-cash loss on digital assets and ETH fund investments.
Analysis · GAME · Trade & Services
GameSquare delivered a strong Q2 with revenue up 137% year-over-year to $18.5 million and adjusted EBITDA of $1.0 million, a swing from a $3.2 million loss a year ago. Gross margin expanded nearly 20 points to 49.0%. The net loss of $10.6 million was driven by a $7.8 million non-cash digital asset write-down, not operating weakness. The company also repurchased 3.8 million shares for $1.6 million in Q2 and July, and reiterated full-year guidance of $85-90 million in revenue with adjusted EBITDA over $5 million. This is a meaningful inflection for a company that has faced going concern and Nasdaq delisting warnings.
How filings like this one have moved
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At the time of this filing, GAME was trading at $0.41 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $42.6M. The 52-week trading range was $0.24 to $1.00. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.