ESE Entertainment has released its second quarter results and operational highlights for the three months ended April 30, 2022.
The company reported revenue of C$15 million (US$11.6 million) for the second quarter of 2022, representing a 1,994% increase from the quarter ended April 30, 2021.
Gross profit for the quarter was $3.8 million, an increase of 2,748% from gross profit of $0.1 million in Q2 2021.
Q2 2022 recorded an EBITDA of $884,751, compared to an EBITDA loss of $832,195 in Q2 2021.
Total assets as of April 30, 2022 were $38 million, an increase from total assets of $15.9 million as of April 30, 2021.
Konrad Wasiela, CEO of ESE, said, “The combined operations have proven to deliver record revenue growth, improve margins and reach a critical milestone of achieving positive Adjusted EBITDA for the first time in the company’s history. company.
“This performance is a testament to our entire team, who continue to execute at the highest level and execute on our business plan and growth strategy.”
The company’s second quarter 2022 operational highlights included the acquisition of Gameaddik, partnerships with Opera, Waveform Entertainment, Corsair Gaming and Cowana, a new broadcast studio in Warsaw and a new business division focused on developing existing products. .
Additionally, ESE has named Gameaddik Founder and CEO Eric Jodoin as the company’s new CEO.
In April 2022, ESE launched a new iGaming division with the goal of tapping into the growing Internet gaming market in Ontario. The announcement sent the company’s stock price soaring, hitting a five-day high of $1.02 on April 4.