Business
East Side Games Group Reports Fourth Quarter and Full Year 2022 Financial Results
East Side Games Group Reports Fourth Quarter and Full Year 2022 Financial Results Canad...
About this update from East Side Games Group Inc
[{"type":"text","content":"\n \n \n \n East Side Games Group Reports Fourth Quarter and Full Year 2022 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 Record full year revenue of\n \n $116.3M\n \n growing by 25% compared to 2021\n \n \n \n \n Recorded Adjusted EBITDA of\n \n $7.5M\n \n in 2022\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 \n \n VANCOUVER, BC\n \n \n ,\n \n \n March 31, 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 fourth quarter and year ended\n \n December 31, 2022\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 We were pleased with our strong finish to 2022 both with revenue and Adjusted EBITDA rebounding strongly from Q3. The launch of\n \n Star Trek\n \n \n : Lower Decks - The Badgey Directive\n \n (\n \n September 2022\n \n ),\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 ) set us up for a strong 2023.\n \n \n For 2023/24 we will have a tighter focus on large IP-driven games with cult-like followings, which is where we have found the most success. We will be investing in our winners as well as betting smart about what is working in the new market dynamics.  The Company anticipates launching new games based on various intellectual properties from recognized names in film, television, toys, music and sports, as it continues to build and expand its partnerships with leading studios around the world.\n \n \n The strength of our GameKit platform continues to fuel our growth as we launch more successful titles using this tool set. Four of our seven unique titles have been launched in the past 18 months using this tech. Partners continue to clamour to get into this program and as the GameKit product gets more and more extensive, we will be able to embrace more of these partnerships.\n \n \n \...