Business
GameSquare Reports Strong Growth in Enterprise Contract Wins and Solid Pipeline Following Engine Gaming Acquisition and Joint SaaS Offering
Success driven by GameSquare's experience in combining assets to deliver revenue growth and cost synergiesFRISCO, TX / ACCESSWIRE / October 16, 2023 /
About this update from Gamesquare Holdings, Inc.
[{"type":"text","content":"Success driven by GameSquare's experience in combining assets to deliver revenue growth and cost synergiesFRISCO, TX / ACCESSWIRE / October 16, 2023 / GameSquare Holdings, Inc. (\"GameSquare\", or the \"Company\") (NASDAQ:GAME)(TSXV:GAME) proudly announces accelerating momentum surrounding enterprise contract wins - supporting larger average contracts and a growing pipeline of sales opportunities. Enterprise growth is attributed to the synergistic approach of combining the strengths of GameSquare's multiple SaaS companies and presenting them as a unified offering in the market. It also reflects the successful integration of Engine Gaming and Stream Hatchet, which is providing cutting-edge solutions to current and future clients.Since the strategic acquisition with Engine Gaming in April 2023, GameSquare has experienced substantial success by strategically integrating the unparalleled capabilities of Stream Hatchet's business intelligence features and Sideqik's influencer relationship management functionalities. This combined offering has resulted in the creation of a comprehensive SaaS solution tailored for brands actively engaging in the gaming sector.The strategic move since May has already produced over $275,000 in new contract annual recurring revenue (\"ARR\") wins for the third quarter, with a gross margin significantly above the Company's average. In addition, the Company has a current pipeline of over $500,000 of ARR, underscoring the heightened demand for this enhanced offering. Most notably, the average order value of enterprise deals has surged by 186% compared with the same period in 2022.Justin Kenna, CEO of GameSquare, expressed his enthusiasm, saying, \"We are thrilled to witness such rapid and substantial growth following the Engine Gaming acquisition and the launch of our joint SaaS offering. This achievement underscores the industry's need for a comprehensive solution that caters to the unique demands of the gaming sector. It also further demonstrates the successful integration of Engine Gaming and our refined go to market strategy to promote our combined assets and deliver on the growing opportunities in the enterprise market.\"About GameSquare Holdings, Inc.GameSquare is a vertically integrated, digital media, entertainment and technology company that connects global brands with gaming and youth culture audie...