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East Side Games Group Reports Fourth Quarter 2023 Financial Results
East Side Games Group Reports Fourth 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 Fourth 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 $20.6M\n \n in Q4 2023 and\n \n $87M\n \n for the full year\n \n \n \n \n A-EBITDA of\n \n $4.5M\n \n in Q4 2023 and\n \n $12.8M\n \n for the full year\n \n \n \n \n Q3 Strategic Realignment to optimize profitability and cashflow realized\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n April 1st, 2024\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 fourth quarter and year ended\n \n December 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 pleased to announce a strong finish to 2023, marking the most profitable quarter in its history and the fifth consecutive quarter exceeding\n \n $2.5 million\n \n in adjusted EBITDA. The Company's focused efforts on profitability throughout the past year, coupled with strategic realignment initiatives, culminated in a robust conclusion to the year. In the fourth quarter, the Company achieved revenue of\n \n $20.6 million\n \n and adjusted EBITDA of\n \n $4.5 million\n \n , reflecting a 22% margin.\n \n \n East Side Games Group reaffirms its commitment to delivering captivating IP-driven games tailored to passionate audiences while collaborating with renowned brands in Movies, Television, Toys, Music, and Sports. In 2024, East Side Games Group proudly presents a robust lineup of game launches, starting with AEW: Rise to the Top (\n \n January 2024\n \n ). In Q2 2024, anticipate the release of three games, each based on iconic brands. The company also has other titles in active development that utilize new and existing IP partnerships with 2024 and 2025 launch targets.\n \n \n This year witnessed further development of the new Matchkit framework, with the first game using the framework,\n \n Bud Farm\n \n : Munchie Match, delivering ...