Recently we have reported FaZe Clan’s financial struggles and how the esports organization has lost value since becoming a publicly traded company. Well, now that the 2022 fiscal year is over, the organization has shared its financial documents for 2022 (thanks, Esports Insider) and it reveals just how much value FaZe Clan has lost over the year.
The team lost $53.2 million in 2022 alone, and that figure also doesn’t take into account the one-time non-cash charge of $115.3 million related to the team becoming a corporation. listed on the stock exchange in July. When you combine the two, FaZe Clan posted net losses of $168.5 million from 2022.
Despite these massive net losses, the organization’s revenue was up for 2022, which FaZe Clan attributes to the 70% rise in brand sponsorship revenue.
