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Small Cap Gaming Company ESE Entertainment (TSXV: ESE) Beats Expectations with 417% Annual Revenue Increase and Record Gross Profit
(NewsDirect) By Kenneth Adams, Benzinga Small-cap gaming technology company ESE Entertain...
About this update from Ese Entertainment Inc
[{"type":"text","content":"Small Cap Gaming Company ESE Entertainment (TSXV: ESE) Beats Expectations with 417% Annual Revenue Increase and Record Gross Profit\n \n \n (NewsDirect)\n \n \n By Kenneth Adams, Benzinga\n \n \n Small-cap gaming\ntechnology company ESE Entertainment Inc. (TSXV: ESE)(OTCQX: ENTEF)\nhas published its audited annual consolidated financial statements for\nthe 2022 year. The report reveals significant financial growth in\nrevenue and gross profit for the period, demonstrating the\ncompany's continued success in the fast growing video game\ntechnology sector.\n \n \n For the three months ended October 31, 2022, the company\nreported revenue of $19.86 million, representing an impressive 218%\nincrease from the same period in 2021. Meanwhile, the company's\nannual consolidated revenue for fiscal 2022 was $58.82 million, an\noutstanding increase of 417% from fiscal 2021.\n \n \n ESE also reported an\nannual gross profit in Fiscal 2022 of $7.70 million, a significant\n569% increase from the previous year's gross profit of $1.15\nmillion. Furthermore,it showed a decrease in its adjusted EBITDA loss,\nfrom $3.50 million in fiscal 2021 to a much-improved $0.18 million in\nfiscal 2022.\n \n \n The\ncompany currently trades at an approximately $30 million market cap on\nthe Canadian and US markets.\n \n \n In Q4 2022, ESE Entertainment also appointed Andrea\nLieuwen as the company's Chief Financial Officer. Ms.\nLieuwen's extensive experience includes leadership and operations\nof gaming properties, contributing to a market capitalization of over\n$3 billion and operating 25 properties across Canada at the Great\nCanadian Gaming Corporation. ESE also entered into a $5 million\ncontract to deliver technology and user acquisition services to a\nEuropean video game developer and publisher.\n \n \n \"After a period of\nsignificant acquisition growth, I am very excited that ESE is now well\npositioned to focus all efforts on organic growth opportunities. With\nthe successful integration of our portfolio assets, we have set a\nfundamental base for the company. Our core focus is on profitability\nand delivering shareholder value, and I look forward to leading\nESE's financial strategy to ensure that we are financially sound\nand positioned for sustained success.\" said\n \n Andrea Lieuwen,\nESE's Chief Financial Officer\n \n .\n \n \n \"We are thril...