East Side Games Group Reports Second Quarter 2024 Financial Results

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[{"type":"text","content":"\n\n\n\n East Side Games Group Reports Second Quarter 2024 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.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: TOP; TEXT-ALIGN: LEFT; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prntaj{\nTEXT-ALIGN: JUSTIFY\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n Revenue of\n \n $20.5M\n \n in Q2 2024 and\n \n $41.3M\n \n Year to Date\n \n\n\n\n A-EBITDA of\n \n $2.5M\n \n in Q2 2024 and\n \n $6.6M\n \n Year to Date\n \n\n\n\n Cheech and Chong's:\n \n Kush Kingdom\n \n launched worldwide\n \n\n\n\n POWER RANGERS: MIGHTY FORCE soft-launched in select territories\n \n\n\n\n\n\n VANCOUVER, BC\n \n\n ,\n \n\n Aug. 13, 2024\n \n\n /CNW/ -\n \n\n East Side Games Group\n \n\n (TSX: EAGR) (OTC: EAGRF) (\"\n \n ESGG\n \n \" or the \"\n \n Company\n \n \"), today announced financial results for the second quarter of 2024. 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 its Q2 results with a revenue of\n \n $20.5 million\n \n and adjusted EBITDA of\n \n $2.5 million\n \n , a 12% margin. YTD revenue is\n \n $41.3M\n \n with adjusted EBITDA of\n \n $6.6M\n \n . This performance underscores the company's commitment to consistent performance and positive cash flow while investing heavily in our future titles.\n \n\n ESGG has demonstrated a robust focus on sustaining the success of its long-tail games while strategically investing in new launches across both idle and match games. Significant investments were made in enhancing existing titles, notably\n \n\n\n Bud Farm\n \n : Munchie Match\n \n\n , which continued to excel as ESGG's flagship match game. This title saw a nearly 50% increase in average topline revenue over the quarter, highlighting the growing importance of match games to ESGG's future revenue streams. ESGG allocated approx....

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