Digital Marketing Company nyc

Engine Gaming & Media, Inc. Reports First Quarter Fiscal Year 2022 Financial Results | News

Engine Gaming & Media, Inc. Reports First Quarter Fiscal Year 2022 Financial Results | News
Written by publishing team

New York – (BUSINESS WIRE) – January 13, 2022 –

Engine Gaming and Media, Inc. (“Engine” or “The Company”; NASDAQ: GAME; TSX-V: GAME), a social gaming/esports, influencer marketing and next-generation media solutions company, reported results for the first quarter of fiscal year 2022 ending November 30, 2021. All Amounts are in US dollars unless otherwise noted.

This press release features multimedia. Watch the full version here: https://www.businesswire.com/news/home/20220113005894/en/

(Graphic: Business Wire)

Total revenue for the first quarter of 2022 was $14.3 million, up from $7.5 million in the first quarter of 2021, up 92% year-over-year, and 22% higher than the prior fiscal year 2021 quarter of $11.8 million. .

For the first quarter ended November 30, 2021, net loss was $1.3 million, a decrease in loss of $4.7 million from fiscal year 1’2021, net loss of $6.0 million.

For the first quarter ending November 30, 2021, adjusted EBITDA was $5.0 million, an increase of $100,000 over fiscal year 2021 adjusted earnings of $4.9 million.

The Company had $9.7 million in accounts receivable and $10.1 million as of November 30, 2021. In addition, the Company had a working capital surplus of $3.2 million after excluding non-cash collateral liability and arbitration reserve.

Key segments revenue growth that contributed to strong revenue performance:

  • Software as a Service: SaaS revenue for fiscal year Q1’22 was $2.1 million, up from $1.4 million in fiscal year Q1’21, up 45% year over year, and 7% higher than the prior fiscal year 2121 quarter of $2.0 million.
  • Advertising: Advertising revenue for the first quarter of fiscal 2010 was $10.0 million. Advertising revenue grew 84% year over year, fiscal first-quarter revenue was $5.5 million and 14% year-over-year, fiscal year 2014 revenue was $21.8 million.
  • Game Development: Game development revenue for the first quarter of fiscal 2017 was $2.1 million. Game development revenue grew 320% year over year, fiscal first-quarter revenue was $0.5 million and 157% year-over-year, and fiscal 2011 fourth-quarter revenue was $0.8 million.

Lou Schwartz, CEO of Engine, stated, “We are extremely pleased with the significant revenue growth we have achieved across the company. Revenue growth continued to be significant year-over-year and quarter over quarter, approximately doubling from the prior year, and nearly all organic items are A true testament to the efforts of the engine teams in moving the business forward on an accelerated basis.”

Tom Rogers, CEO of the company added, “As social engagement increasingly defines video game interaction and digital marketing innovation, our portfolio of assets continues to focus increasingly on this attribute at the fore. Winview, UMG, Eden, Stream Hatchet and Sideqik continue to in differentiating their offerings for social gaming and marketing.With significant and continuous revenue growth, and investing in product improvements to sustain that growth, within a year we have begun to demonstrate what Engine Assets can represent in terms of significantly enhanced asset value.We believe in our plans to inject cash Sustainable, as the business begins to move towards profitability, the market will recognize the significant opportunity for appreciation as the “cycles” of the engine.

Recent highlights from the companies operating in the company include:

  • frankly media Frankly Media has renewed its digital media agreement with its largest radio station operator serving hundreds of owned and operated stations delivering premium content to more than a quarter of a billion people each month. In addition, Frankly has renewed its advertising representation agreement with Westwood One, which delivers nationally shared sports, news and entertainment content to more than 250 million listeners per month via an audio network of more than 7,000 affiliated radio stations and media partners. Finally, CPM and RPM increased by 25% and 75%, respectively, year-over-year
  • your friend Sideqik’s leading social and marketing and commerce platform continues to expand, having signed a multi-year extension with leading gaming hardware brand HyperX, recently acquired by HP, as well as the inclusion of global apparel leader Nike and ASUS for multiple PCs and phones nationalities. List of partners and clients.
  • grudge stream – Stream Hatchet has launched its new sponsorship measurement technology, which contextualizes brand activations, providing partners with tools to track, measure and improve activations within live broadcast environments, such as logo appearances on platforms like YouTube and Twitch. A major AAA game publisher has already started using this new technology. In addition, Stream Hatchet has continued to expand its expanding client list, including StreamElements, the fastest growing provider of production, monetization, audience engagement, sponsorship, and influencer marketing tools and services for live broadcasts across Twitch, YouTube Live, Facebook Gaming, and Trovo.
  • UMG Games UMG Gaming’s greatly enhanced production of Microsoft’s Gears Esports competition series has appeared on the official Xbox channel, with over 250,000 hours watched during the first split. In addition, Thrustmaster, the leading manufacturer of peripherals, has joined forces with Gears Esports, to name ESWAP x PRO CONTROLLER as the official controller of Gears Esports, as well as being the main sponsor of Play of the Day moments.
  • Eden Games Eden continues to expand its expertise in the motorsports category of mobile games, and has begun developing a variety of different racing experiences with major game partners. In addition, Eden has received great attention from many parties since the announcement of its strategic operation.
  • winview – Since the launch of the game, a game mode that enables players to compete in skill game competitions before the start of a live sports event, thus completing the live play experience, player interaction has increased by 30%+.

The company also announced the addition of Stu Porter, highly respected private equity fund manager and CEO of Denham Capital, and one of the company’s largest investors, to its board of directors.

In addition, the company will host a conference call on Thursday, January 13, 2022 at 4:30 PM ET to discuss its financial results in more detail. The conference call can be reached at 877-407-0784 or for international callers at +1-201-689-8560

Measures other than IFRS

The Company reports earnings before interest, tax, depreciation and amortization (“EBITDA”) and adjusted EBITDA, which are not financial measures calculated and presented in accordance with International Financial Reporting Standards (“IFRS”) and therefore may not be comparable with similar measures Provided by other issuers. EBITDA and adjusted earnings should not be considered separately or as a proxy for net income (loss) or other financial measures of performance or liquidity calculated and presented in accordance with IFRS. The Company defines adjusted EBITDA as EBITDA, adjusted to exclude certain non-cash charges and other items that we do not believe reflect our continuing operating results. The Company uses internally adjusted EBITDA for the purposes of forecasting, determining compensation and evaluating our business performance, and therefore, we believe this procedure provides useful supplementary information that may assist investors in evaluating an investment in the Company.

The following unaudited table presents the net loss adjustment with adjusted EBITDA for the three months ended November 30, 2021 and 2020, respectively.

This earnings statement should be read in conjunction with the Company’s condensed consolidated interim financial statements and accompanying notes which will be made available on the Engine Investor Relations website on January 14, 2022 which can be found at https://ir.enginemediainc.com/.

About Engine Gaming and Media, Inc.

Engine Gaming and Media, Inc. Publicly under ticker symbol (NASDAQ: GAME) (TSX-V: GAME). Engine provides premium social sports and sports experiences, as well as unparalleled data analytics, marketing, advertising, and intellectual property to support its direct-to-consumer owned and managed properties while providing these services to empower its customers and partners. The company’s subsidiaries include Stream Hatchet, the global leader in video distribution analytics for games; Sideqik, a discovery, analytics, and activation platform for social influencer marketing; Eden Games, a distinguished developer and publisher of motorsports video games for both console and mobile games; WinView Games, a social predictive gaming platform that allows viewers to play while watching live events; UMG, the comprehensive competitive esports platform that operates and broadcasts major esports events, as well as daily community tournaments, matches and ladders; and Frankly Media, a digital publishing platform used to create, distribute and monetize content across all digital channels. The media engine generates revenue through a combination of direct-to-consumer subscription fees, streaming technology, SaaS-based offerings, data, automated advertising, and sponsorship.

Cautionary statement regarding forward-looking information

This news release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the engine to differ from any express or implied future results, performance or achievements of the forward-looking statements. Often, but not always, forward-looking statements may be identified by using words such as “plans,” “expects,” “does not expect,” “expects,” “estimates,” “intends,” “expects,” “does not anticipate,” or “believe” or variations of these words and phrases state that some action, event or outcome “may,” “could,” “could,” or “will” be taken, occur or materialize. In connection with the forward-looking information contained herein, Engine has provided such statements and information based on certain assumptions management believed reasonable at the time. Forward-looking information involves known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements described here to differ materially from any future results, performance or achievements expressed or implied by forward-looking information. Actual results may differ materially from those currently projected due to a number of factors and risks. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release.

The forward-looking statements contained in this press release are made as of the date of this release and are therefore subject to change after that date. Engine assumes no obligation to update or revise any forward-looking statements, whether written or oral, that may be made from time to time by us or on our behalf, except as required by applicable law.

Neither TSX Venture Exchange nor the Regulatory Services Provider (as defined in the TSX Venture Exchange policies) accept responsibility for the adequacy or accuracy of this release.

View source copy on businesswire.com: https://www.businesswire.com/news/home/20220113005894/en/

Contact: Investors

Ryan Lawrence, ICR

Ryan.Lawrence@icrinc.com

332-242-4321

modes

James Goldfarb, Sloan & Company

jgoldfarb@sloanepr.com

212-446-1869

Keyword: United States, North America, New York

Industry Keyword: General Sports, Other Communications, Technology Publishing, Public Relations/Investor Relations, Marketing, Advertising, Communications, General Entertainment, Other Fun Sports, Electronic Games, Casino/Entertainment Internet Games

Source: Engine Gaming and Media, Inc.

Copyright Business Wire 2022.

Publication date: 01/13/2022 04:05 PM / Disc: 01/13/2022 04:06 PM

http://www.businesswire.com/news/home/20220113005894/ar

.

About the author

publishing team