**GameSquare Holdings, Inc. (GAME) Shareholder/Analyst Call Transcript: Overview of Financial Performance and Strategic Outlook**

GameSquare Holdings’ Shareholder Meeting Adjourned Due to Low Attendance

New York,NY – October 7,2025 – GameSquare Holdings,Inc.(NASDAQ: GAME) encountered an obstacle during its Annual Meeting of Stockholders today, as a required quorum was not achieved, leading to an adjournment. The meeting, convened at 1:00 PM EDT, was unable to proceed with official business due to insufficient representation from shareholders.

Initial Proceedings and Leadership Updates

The meeting commenced with welcoming remarks from Louis Schwartz, President and Chairman of the Board of Directors of GameSquare Holdings, Inc. He formally called the meeting to order and then transitioned the chairmanship to Justin Kenna, the company’s Chief Executive Officer and Executive Director. The proceedings were initially overseen by an operator who outlined the recording policy for the meeting and the consent requirements for disclosing personal data.

Quorum Deficiency and subsequent Action

Justin Kenna reported that, as informed by Michael Munoz, the Chief Financial Officer, a quorum was not present either in person or via proxy submission. this lack of a sufficient quorum prevents the transaction of official business. the company intends to use the additional time to actively solicit proxy votes in preparation for a rescheduled meeting, ensuring shareholder participation and enabling the completion of necessary corporate actions.

Did You Know? A quorum typically represents a majority of outstanding shares, varying based on company bylaws. Without it, key decisions like electing directors or approving major corporate changes cannot be legally enacted.

Implications for Investors

The adjournment underscores the importance of shareholder participation in corporate governance. GameSquare Holdings is actively working to engage shareholders and secure the necessary votes. Investors are encouraged to submit their proxies to allow for the meeting to be reconvened and critical business matters to be addressed efficiently.

Pro Tip: Shareholders can often find instructions on how to submit proxies on their brokerage account website or through the company’s investor relations department.

Event	Date & Time	Key Participants
Annual Meeting Commencement	October 7, 2025, 1:00 PM EDT	Louis Schwartz, Justin Kenna, Operator
Quorum Determination	October 7, 2025, shortly after 1:00 PM EDT	Michael Munoz, Justin Kenna
Meeting Adjournment	October 7, 2025	Justin kenna

What does this lack of quorum signify about investor engagement with GameSquare Holdings?

How might the company adjust its strategy to improve shareholder participation in future meetings?

Understanding Corporate Quorums

A quorum is the minimum number of shareholders or representatives who must be present at a meeting for it to be considered legally valid. This requirement exists to ensure that decisions are made with the consent of a substantial portion of the ownership base. Corporate bylaws dictate the specific requirements for achieving a quorum, which often centers around a percentage of outstanding shares.

The implications of failing to achieve a quorum range from delaying vital corporate actions to potentially requiring legal intervention to ensure appropriate governance. Companies experiencing quorum issues often proactively engage with shareholders through enhanced communication and proxy solicitation efforts.

Frequently Asked Questions about GameSquare Holdings’ Meeting

• What is a quorum in the context of a shareholder meeting? A quorum is the minimum number of shares represented at a meeting,required for valid decision-making.
• Why is a quorum important for GameSquare Holdings? Without a quorum, crucial business decisions cannot be legally enacted, potentially hindering the company’s progress.
• What steps is GameSquare Holdings taking to address the lack of quorum? The company is actively working to solicit proxies from shareholders to meet the required threshold for a rescheduled meeting.
• how can shareholders submit their proxy votes? Shareholders can typically submit proxies through their brokerage account or the company’s investor relations department.
• What are the potential consequences of repeatedly failing to achieve a quorum? Repeated failures can signal investor disengagement and may necessitate changes in corporate governance practices.

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What specific cost optimization strategies is GameSquare employing to achieve its profitability target by the end of 2026?

Q3 2025 Financial Highlights

gamesquare Holdings, Inc. (GAME) recently concluded its Q3 2025 shareholder and analyst call, providing a detailed look into the company’s financial performance and future strategies. Key takeaways center around revenue growth, strategic acquisitions, and a sharpened focus on profitability within the esports and gaming landscape. The call, held on October 7, 2025, revealed a mixed bag of results, with strong growth in certain segments offset by ongoing investment in key areas.

* Revenue: Total revenue for Q3 2025 reached $78.5 million, a 22% increase year-over-year. This growth was primarily driven by increased demand for esports tournament association and media rights sales.

* Gross Margin: Gross margin improved to 38%, up from 35% in the same period last year, reflecting efficiencies gained through the integration of recent acquisitions.

* Net Loss: Despite revenue growth, GameSquare reported a net loss of $6.2 million, primarily due to increased operating expenses related to marketing and sales initiatives, and amortization of intangible assets from acquisitions.

* Adjusted EBITDA: Adjusted EBITDA was -$2.8 million, an advancement from -$4.5 million in Q3 2024, indicating progress towards profitability.

* Cash Position: The company ended the quarter with $25.7 million in cash and cash equivalents.

Strategic Acquisitions and Integration Progress

A notable portion of the analyst call was dedicated to discussing the integration of recent acquisitions, notably the acquisition of Rival, a platform for esports betting and fantasy gaming.

* Rival Integration: Management highlighted the successful integration of Rival’s technology and user base, leading to a 35% increase in monthly active users on GameSquare’s combined platforms.Synergies are being realized through cross-promotion and bundled offerings.

* Complexity Gaming: The performance of Complexity Gaming, GameSquare’s esports team, was also discussed. While viewership and engagement remain strong, profitability continues to be a challenge. The company is exploring new sponsorship opportunities and revenue-sharing models to improve the team’s financial performance.

* Future M&A: GameSquare indicated that it remains open to strategic acquisitions, but will prioritize deals that are accretive to earnings and align with its long-term growth strategy. Focus areas include gaming content creation,esports infrastructure,and data analytics.

Key Growth Drivers and Strategic Initiatives

GameSquare is focusing on several key initiatives to drive future growth and achieve profitability.These include:

1. Expansion of Tournament Organization Services: Leveraging its expertise in esports event management, GameSquare is expanding its tournament organization services to new game titles and regions. This includes partnerships with game publishers and brands to create branded esports leagues and tournaments.
2. Growth of Media Rights Sales: The company is actively pursuing opportunities to sell media rights for its esports events to streaming platforms, television networks, and other media outlets. This is a high-margin revenue stream with significant growth potential.
3. Development of new Gaming Content: GameSquare is investing in the creation of original gaming content, including live streams, video-on-demand content, and esports documentaries. This content will be distributed across its owned and operated platforms, as well as through partnerships with other content providers.
4. Data Analytics and Fan Engagement: Utilizing data analytics to better understand fan behavior and preferences, GameSquare aims to enhance fan engagement and personalize the gaming experience.this includes targeted advertising, customized content recommendations, and interactive features.

Esports Betting and Fantasy gaming Outlook

The integration of Rival has positioned GameSquare favorably within the rapidly growing esports betting and fantasy gaming market.

* Market Growth: The esports betting market is projected to reach $20 billion by 2028, representing a significant opportunity for GameSquare.

* Regulatory Landscape: Management acknowledged the evolving regulatory landscape surrounding esports betting and fantasy gaming, and stated that the company is proactively working with regulators to ensure compliance.

* Product Innovation: GameSquare is focused on developing innovative new betting and fantasy gaming products that cater to the unique needs of esports fans. This includes in-play betting,prop bets,and daily fantasy esports contests.

Investor Q&A Highlights

During the Q&A session,several key questions were addressed:

* Path to Profitability: Management reiterated its commitment to achieving profitability by the end of 2026,driven by revenue growth,cost optimization,and synergies from acquisitions.

* Competition: GameSquare faces competition from established esports organizations, media companies, and betting operators. The company believes its differentiated offerings and strategic partnerships will allow it to maintain a competitive advantage.

* Capital Allocation: Management indicated that it will prioritize investments in organic growth initiatives and strategic acquisitions, while maintaining a healthy cash balance.

* Share Repurchase Program: No share repurchase program was announced during the call.

GameSquare’s Competitive Landscape

GameSquare operates in a dynamic and competitive market. Key competitors include:

* esports Teams & Organizations: FaZe Clan, Team Liquid, 100 Thieves.

* **Esports tournament