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East Side Games Group Reports First Quarter 2023 Financial Results
East Side Games Group Reports First Quarter 2023 Financial Results Canada NewsWire ...
About this update from East Side Games Group Inc
[{"type":"text","content":"\n \n \n \n East Side Games Group Reports First Quarter 2023 Financial Results\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n Revenue of\n \n $24.3M\n \n in Q1 2023\n \n \n \n \n Adjusted EBITDA of\n \n $2.6M\n \n in Q1 2023\n \n \n \n \n Launched\n \n Doctor Who: Lost in Time\n \n and\n \n Milk Farm Tycoon\n \n \n \n \n \n Announced Squishmallows Game in Partnership with Jazwares\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n May 11, 2023\n \n \n /CNW/ - East Side Games Group (TSX: EAGR) (OTC: EAGRF) (\"\n \n ESGG\n \n \" or the \"\n \n Company\n \n \"), today announced financial results for the first quarter ended\n \n March 31, 2023\n \n . All amounts are stated in Canadian dollars on an IFRS basis unless otherwise indicated.\n \n \n \n \n \n \n \n \n \n The Company is celebrating a strong start to 2023 with revenue of\n \n $24.3 million\n \n and\n \n adj\n \n EBITDA of 11%. This quarter's worldwide releases of\n \n Milk Farm Tycoon\n \n (\n \n February 2023\n \n ) and\n \n Doctor Who: Lost in Time\n \n (\n \n March 2023\n \n ) are just the beginning of what ESGG expects to be an exciting year.\n \n \n New collaborations, such as the recently\n \n \n announced Jazwares partnership\n \n \n , will continue to demonstrate ESGG's commitment to focusing on large IP-driven games with cult-like followings, which is where the Company has found great success.\n \n \n ESGG continues to invest in its owned IP titles such as Milk Farm which launched worldwide in February as well as Bud Farm Munchie Match.\n \n \n \"Munchie Match continues to post the most impressive retention numbers of any LDRLY title with Day One retention rates over 50% and Day Seven retention over 25%. Event-driven LiveOps are being added to the game with a regular cadence and we expect the game to be ready for a large marketing push by mid Q3,\" said\n \n Jason Bailey\n \n , CEO of ESGG, \"This title gives us a firm place of success to build on in the Match 3 genre. We already have partnerships with world class IPs that will see titles built on this ...