Gaming Industry Performance Highlights Q4 and Full Year 2024 Financial Outcomes

Enthusiast Gaming Reports Q4 and Full-Year 2024 Financial Results

March 31, 2025 - Enthusiast Gaming Holdings Inc. (NASDAQ: EGAM) (TSX: EGAM), a leading gaming and esports company, today reported its financial results for the fourth quarter and full year ended December 31, 2024.

Financial Highlights:

• Revenue for the full year 2024 was $104.2 million, representing a 35% increase compared to the full year 2023.
• Net loss for the full year 2024 was $14.3 million, or $(0.14) per share, compared to a net loss of $25.3 million, or $(0.25) per share, for the full year 2023.
• Adjusted EBITDA for the full year 2024 was $6.3 million, compared to an adjusted EBITDA loss of $3.5 million for the full year 2023.

Q4 2024 Highlights:

• Revenue was $26.5 million, a 23% increase compared to Q4 2023.
• Net loss was $3.4 million, or $(0.03) per share, compared to a net loss of $5.5 million, or $(0.05) per share, in Q4 2023.
• Adjusted EBITDA was $1.2 million, compared to an adjusted EBITDA loss of $1.3 million in Q4 2023.

Commentary:

"I am pleased to report that Enthusiast Gaming has continued to deliver strong revenue growth and improved profitability in 2024," said David Kier, CEO of Enthusiast Gaming. "Our focus on diversifying our revenue streams, optimizing our operations and expanding our esports offerings has positioned us well for continued growth in 2025 and beyond."

About Enthusiast Gaming:

Enthusiast Gaming is a leading gaming and esports company that operates a portfolio of gaming and esports-related businesses, including the largest independent esports network in the world, the largest gaming forum in Canada, and a variety of gaming and esports-related events and activations. The company is headquartered in Toronto, Canada and is listed on the NASDAQ and TSX stock exchanges under the ticker symbol EGAM.