GameSquare Holdings, Inc.
- Open
- 0.39
- Day high
- 0.40
- Day low
- 0.39
- Prev close
- 0.40
- Volume
- 346K
- Mkt cap
- $37M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 2.1
- P/S
- 0.6
- Yield
- —
- Per share
- —
- ▲Insiders net buying $1.7M over the last 3 months (7 open-market buys, 0 sales)
- ◆Cluster buying — multiple insiders bought within days
- 🏛Institutions mixed (13F)
GameSquare Holdings, Inc. (GAME) is a Technology company listed on NASDAQ. The stock is down 54% over the past year. Over the trailing 3 months, insiders filed 7 open-market buys and 0 sales (SEC Form 4).
GameSquare Holdings, Inc. (GAME) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
GAME earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 14, 2026 | $-0.04 | $-0.02 | +50.0% | $16M | +6.0% |
| Nov 13, 2025 | $-0.03 | $-0.03 | +0.0% | $11M | -56.9% |
| Aug 14, 2025 | $-0.10 | $-0.11 | -10.0% | $16M | -46.6% |
| May 15, 2025 | $-0.23 | $-0.13 | +43.5% | $21M | -29.8% |
| Nov 14, 2024 | $-0.14 | $-0.14 | +0.0% | $26M | -0.3% |
| Aug 14, 2024 | $-0.09 | $-0.26 | -188.9% | $29M | +19.1% |
| May 20, 2024 | $-0.29 | $-0.39 | -34.5% | $18M | +29.4% |
| Nov 15, 2023 | $-0.19 | $-0.43 | -126.3% | $16M | — |
| Aug 14, 2023 | — | $-0.32 | — | $14M | — |
| Apr 17, 2023 | — | $-0.45 | — | $9M | — |
| Jan 16, 2023 | — | $-1.40 | — | $10M | -11.3% |
| Nov 29, 2022 | $-0.09 | $-2.64 | -2833.3% | $11M | -57.9% |
GAME insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| May 27, 2026 | Blue & Silver Ventures, Ltd.other: See Footnote (1) | Buy | 144,346 | $0.42 |
| May 27, 2026 | Blue & Silver Ventures, Ltd.other: See Footnote (1) | Buy | 620,100 | $0.43 |
| Apr 27, 2026 | Blue & Silver Ventures, Ltd.other: See Footnote (1) | Buy | 417,813 | $0.60 |
| Apr 27, 2026 | Blue & Silver Ventures, Ltd.other: See Footnote (1) | Buy | 922,890 | $0.60 |
| Apr 27, 2026 | Blue & Silver Ventures, Ltd.other: See Footnote (1) | Buy | 809,109 | $0.58 |
| Apr 27, 2026 | Blue & Silver Ventures, Ltd.other: See Footnote (1) | Buy | 84,552 | $0.60 |
| Apr 24, 2026 | Gorman Jeremidirector | Buy | 65,897 | $0.76 |
| Apr 24, 2026 | Gorman Jeremidirector | Grant | 100,000 | — |
| Apr 24, 2026 | Gorman Jeremidirector | Option | 100,000 | — |
| Feb 10, 2026 | Kenna Justindirector, officer: CEO and Director | Option | 500,000 | — |
| Feb 10, 2026 | Kenna Justindirector, officer: CEO and Director | Option | 125,000 | — |
| Feb 10, 2026 | Kenna Justindirector, officer: CEO and Director | Option | 625,000 | — |
| Jan 5, 2026 | Schwartz Louisdirector, officer: Former President and Chairman | Option | 174,324 | — |
| Dec 9, 2025 | Porter Stuart Ddirector | Option | 150,000 | — |
| Dec 9, 2025 | Blue & Silver Ventures, Ltd.10 percent owner | Option | 150,000 | — |
Source: GAME SEC Form 4 filings, latest May 27, 2026. For informational purposes only — not investment advice.
See the full GAME insider & 13F page →GameSquare Holdings, Inc. company profile
Overview
Engine Gaming and Media, Inc. (NASDAQ:GAME) is a Canadian-based gaming and media company founded in 2011 and headquartered in Toronto. Originally incorporated as Engine Media Holdings, Inc., the company rebranded to its current name in October 2021. The company went public in January 2018 and has grown through strategic acquisitions, most notably the acquisition of FaZe Clan in March 2024. Engine Gaming operates as a diversified gaming and media enterprise that combines esports, influencer marketing technology, content creation, and advertising services across the digital entertainment ecosystem.
Business
Engine Gaming and Media operates in the digital gaming and entertainment industry, providing a comprehensive suite of services that span esports, influencer marketing, content creation, and advertising technology. The company's business is built around connecting brands with gaming and digital entertainment audiences through multiple touchpoints and platforms. The company operates through several key business segments. SaaS and Managed Services represents approximately 30-35% of revenue and includes technology platforms like Sideqik, an influencer marketing platform that helps brands discover and collaborate with content creators, and Stream Hatchet, which provides esports data analytics and insights. This segment also encompasses managed services where the company handles influencer marketing campaigns on behalf of clients. Agency and Media Services accounts for roughly 40-45% of revenue and involves creating and executing marketing campaigns for brands within gaming and entertainment spaces. This includes programmatic advertising, where the company places ads across its network of publisher sites, as well as specialized services like in-game world-building campaigns where brands create immersive experiences within gaming environments. Esports and Entertainment, primarily through the FaZe Clan brand acquired in 2024, represents about 20-25% of revenue. FaZe Clan is one of the most recognizable esports and gaming lifestyle brands globally, featuring professional esports teams, content creators, and influencers with over 230 million aggregate social media followers. This segment generates revenue through sponsorships, merchandise, tournament winnings, and content monetization. The company also operates supporting technology infrastructure including content management systems, video streaming solutions, and data analytics platforms that serve both internal operations and external clients in the gaming and entertainment industry.
Revenue model
Engine Gaming generates revenue through multiple complementary business models across its diversified portfolio. The SaaS and Managed Services segment operates on subscription-based pricing for software platforms like Sideqik and Stream Hatchet, where clients pay recurring fees to access influencer marketing tools and esports analytics. This segment also generates service fees from managed influencer marketing campaigns, where the company takes a percentage of campaign budgets or charges project-based fees. The Agency and Media business model centers on advertising commissions and media buying fees. The company earns revenue by placing programmatic advertisements across its publisher network, taking a percentage of ad spend, and by creating custom marketing campaigns for brands seeking to reach gaming audiences. Revenue in this segment fluctuates based on advertising market conditions and client campaign budgets. FaZe Clan's esports operations generate revenue through brand sponsorships and partnerships, where companies pay to associate with the FaZe brand and its talent roster. Additional revenue streams include merchandise sales, tournament prize winnings, content monetization from streaming platforms, and licensing deals for co-branded products. Several factors influence the company's margins and profitability. Positive margin drivers include the high-margin nature of SaaS subscriptions (typically 70%+ gross margins), the scalability of owned intellectual property like FaZe Clan, and the company's ability to leverage its talent network across multiple revenue streams. The growing creator economy and increased brand investment in gaming marketing also support revenue growth. Conversely, margin pressures come from the cyclical nature of advertising spending, which can decline during economic uncertainty. The company's heavy reliance on programmatic advertising, which carries lower margins than direct brand partnerships, also impacts profitability. Additionally, the competitive landscape in influencer marketing and esports requires ongoing investment in talent acquisition and platform development, creating ongoing cost pressures.
Competitive moat
Engine Gaming's competitive moat is moderate and primarily built around its assembled portfolio of complementary assets rather than any single dominant market position. The company's strongest moat element is the FaZe Clan brand, which has significant cultural relevance and social media reach that would be difficult and expensive for competitors to replicate. The brand's authenticity and connection with gaming audiences, particularly among younger demographics, provides valuable access to a hard-to-reach market segment that traditional advertising struggles to engage effectively. The company's integrated platform approach creates some competitive advantages by offering clients a one-stop solution spanning influencer identification, campaign management, content creation, and performance analytics. This integration can create switching costs for clients who prefer consolidated vendor relationships and unified reporting across their gaming marketing initiatives. However, the company's moat faces several vulnerabilities. The influencer marketing technology space is highly competitive with well-funded competitors and low barriers to entry for new platforms. The esports industry, while growing, remains fragmented with numerous competing organizations and relatively low switching costs for sponsors. Additionally, the company's reliance on third-party platforms for content distribution creates dependency risks, as algorithm changes or policy shifts on platforms like YouTube or Twitch could significantly impact reach and engagement. The advertising technology component of the business operates in a commoditized market where differentiation is challenging to maintain. While the company's focus on gaming audiences provides some specialization, larger advertising technology companies with more resources could potentially replicate this focus. The company's competitive position is further challenged by its relatively small scale compared to major advertising holding companies and technology platforms that serve similar markets.
Risks & safety
Engine Gaming presents significant financial risks with limited margin of safety based on current fundamentals. • Liquidity concerns: Current ratio of 0.72 indicates the company cannot cover short-term obligations with current assets. Cash position of $11.2 million against current liabilities of $58.4 million creates potential solvency pressure. • Cash burn: Free cash flow of -$7.8 million in Q4 2024 and -$7.8 million operating cash flow indicates ongoing cash consumption, though this has improved from -$16.1 million in 2023. • Debt levels: Debt-to-equity ratio of 0.72 is manageable but concerning given negative cash generation. Total liabilities of $60.6 million against $40.5 million in equity. • Valuation metrics: Trading at 1.02x book value with negative earnings makes traditional valuation difficult. Enterprise value to EBITDA is negative due to losses. • Profitability trajectory: Company projects EBITDA positivity in second half of 2025, but this remains speculative given historical losses and competitive pressures. • Revenue concentration risk: Recent divestiture of FaZe Media removes $27 million in annual revenue, requiring significant organic growth to maintain scale.
Recent development
Over the past two years, Engine Gaming has undergone significant strategic transformation focused on portfolio optimization and cost reduction. The most significant development was the acquisition of FaZe Clan in March 2024 for approximately $14 million in an all-stock transaction. This acquisition brought one of the most recognizable esports brands globally, with over 230 million social media followers, into the company's portfolio. Following the FaZe acquisition, management implemented a strategic restructuring by separating FaZe Media as a standalone entity and selling a 49% stake for $11 million while retaining voting control. Subsequently, the company divested FaZe Media entirely for $39 million in 2024, allowing management to focus on the core esports operations and reduce complexity. The company has aggressively pursued cost reduction initiatives, removing approximately $18 million in annualized costs through the FaZe integration and previous Engine Gaming merger synergies. These efforts included workforce reductions, facility consolidations, and elimination of redundant operations across the combined entity. On the technology front, Engine Gaming has invested in AI-powered solutions, launching an AI-supported influencer discovery tool within its Sideqik platform to enhance client capabilities in identifying and connecting with relevant content creators. The company has also expanded its world-building services, creating immersive in-game experiences for brands, with management projecting 100% revenue growth in this segment for 2025. The company completed its transition from Canadian to U.S. operations, delisting from the TSX Venture Exchange and re-domiciling to focus on U.S. capital markets. Additionally, management has been actively managing the portfolio by divesting non-core assets, including the sale of Complexity Gaming for $10.4 million and Frankly's radio business assets for $3.4 million.
GAME company profile · for informational purposes only — not investment advice.
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