- **Revenue Growth**: Q3 revenue $11.3M (+22% YoY), driven by agency and DAT strategy. 
- **Profitability Leap**: Gross margin 49.4% (vs. 15.3% Q2), EBITDA loss $200k (vs. $3.5M Q2). 
- **DAT Success**: $600k yield in Q3, 15,618 ETH held with $9.3M unrealized gain. 
- **Click Acquisition**: $14.5M annualized revenue, 75+ talent roster boosting creator economy. 
- **Share Buybacks**: $600k spent, $4.4M remaining to repurchase undervalued shares. 
- **2026 Outlook**: 20%+ organic growth, targeting high single-digit EBITDA margins.

**【CEO Summary Section】**
- **Strategic Transformation Progress**: Divested FaZe Media and wound down Frankly Media, acquiring Click Management to enhance creator economy reach. DAT strategy generated $600k yield in Q3, with 15,618 ETH held (unrealized gain $9.3M). 
- **Financial Highlights**: Q3 net income $5.9M, up from $3.9M YoY. Gross margin expanded to 49.4% (vs. 15.3% in Q2). Pro forma EBITDA loss $200k (vs. $3.5M Q2). 
- **2026 Outlook**: 20%+ organic revenue growth, targeting high single-digit EBITDA margins. Creative deployment deals (e.g., Capcom, Ubisoft) expected to contribute $20M+ in 2026. 
- **Share Buybacks**: $600k spent in Q3, $4.4M remaining under $5M authorization, using DAT yields to repurchase undervalued shares. 

**【CFO Financial Commentary】**
- **Revenue Growth**: $11.3M (Q3) vs. $9.3M YoY, driven by agency (+22%), SaaS (+17%), and DAT ($600k). 
- **Profitability**: Gross margin 49.4% (vs. 45.3% YoY). Pro forma EBITDA loss $200k (vs. $3.5M Q2). 
- **Balance Sheet**: $81.5M cash/digital assets, $78.7M shareholders' equity, no debt. Reduced accounts payable by 33% to $18M. 

**【Q&A Key Highlights】**
- **Share Buybacks**: Aggressively using DAT yields to repurchase shares, with $4.4M remaining under $5M limit. 
- **Macro Environment**: Strong pipeline activity, especially in Q4, with no material easing of tariff-related pressures. 
- **DAT Strategy Risk Management**: Dialectic employs dynamic risk management, focusing on yield generation rather than price speculation. 
- **Click's Impact**: Click contributes $14.5M annualized revenue and $1.2M EBITDA, with 75+ talent roster driving creator economy growth. 
- **Gross Margin Outlook**: Normalized 35-40% margin expected, with creative deployment (20-25% margin) and DAT (100% margin) balancing mix.

GameSquare Holdings, Inc. (GAME) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

GAME

GAME fundamentals

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