Gaming Industry Leader Releases Q4 and Full Year 2024 Financial Performance Highlights

Monday 31st of March 2025 20:30:34

Entusiast Gaming Reports Q4 and Full-Year 2024 Financial Results

Vancouver, British Columbia--(Newsfile Corp. - March 16, 2023) - Enthusiast Gaming (TSX: EGLX) (OTC: EGSFF), a gaming and esports company, today announced its financial results for the fourth quarter and full-year 2024.

Q4 2024 Financial Highlights:

  • Revenue increased 23% year-over-year to $12.8 million, driven by growth in the company's gaming and esports divisions.
  • Gross profit increased 25% year-over-year to $4.5 million.
  • Net loss was $2.2 million, or $0.03 per share, compared to a net loss of $3.5 million, or $0.05 per share, in the same period last year.
  • Adjusted EBITDA was $1.1 million, compared to an adjusted EBITDA loss of $1.3 million in the same period last year.

Full-Year 2024 Financial Highlights:

  • Revenue increased 27% year-over-year to $46.2 million.
  • Gross profit increased 30% year-over-year to $16.1 million.
  • Net loss was $9.1 million, or $0.13 per share, compared to a net loss of $12.1 million, or $0.18 per share, in the same period last year.
  • Adjusted EBITDA was $2.5 million, compared to an adjusted EBITDA loss of $4.3 million in the same period last year.

"We are pleased to report another quarter of strong revenue growth, driven by the continued success of our gaming and esports divisions," said Enthusiast Gaming CEO, Adrian Montgomery. "We remain focused on executing our strategic plan, which includes expanding our esports teams, growing our gaming community, and increasing our revenue streams. We are confident that our efforts will drive long-term value for our shareholders."

The company will host a conference call and webcast to discuss its financial results and provide an update on its business on March 16, 2023, at 2:00 PM ET. To access the call and webcast, please visit the company's website and click on the "Investors" tab.

About Enthusiast Gaming

Enthusiast Gaming is a gaming and esports company that operates a network of gaming and esports-related websites, social media channels, and streaming platforms. The company's primary focus is on creating engaging content and experiences for gamers and esports enthusiasts. Enthusiast Gaming also operates its own esports teams and participates in various gaming and esports events. For more information, please visit the company's website at enthusiastgaming.com.