- Enthusiast Gaming (EGLX) has reported preliminary unaudited results for Q4 2021
- Revenue is expected to be C$56.9M, a 34-per-cent increase from Q4 2020
- Paid subscribers at quarter end are estimated at 220,000, up 80 per cent from the end of 2020
- The company expects to release audited financial results on March 24, 2022
- Enthusiast Gaming is building the largest media and content platform for video game and esports fans to connect and engage worldwide
- Enthusiast (EGLX) is up by 10.16 per cent trading at $3.25 per share
Enthusiast Gaming (EGLX) has reported preliminary unaudited results for Q4 2021.
Quarterly financial highlights
- Anticipated revenue of C$56.9M, a 34-per-cent increase from Q4 2020. Expected annual revenue of $167.4M, up from $72.8M in 2020
- Expected gross profit of $13.7M, up 69 per cent from Q4 2020. Expected annual gross profit of $37.8M, up from $18.7M in 2020
- Estimated gross margin of 24.1 per cent, a 5-per-cent increase from Q4 2020
- Estimated direct sales of $8.8M, up 167 per cent from Q4 2020. 2021 direct sales of $22.2M, up from $5M in 2020
- Estimated paid subscribers at quarter end of 220,000, up 80 per cent from the end of 2020
- Estimated end-of-year cash balance of $22.7M, up from $4.3M at the end of 2020
Quarterly operational highlights
- Acquired League of Legends community, U.GG
- Renewed or expanded business with Proctor & Gamble, HBO Max, TikTok, Disney and Square Enix
- Set a record for U.S. unique visitor traffic in December 2021
- Expanded in-game purchasing opportunities and subscription offerings for multiple Addicting Games titles
The company expects to release audited financial results on March 24, 2022.
“We expect to have generated record quarterly revenues in the fourth quarter of 2021, led by our continued strength in direct sales, our ability to acquire and integrate assets such as Addicting Games and U.GG, our ability to attract and retain paying subscribers and ultimately our flywheel of communities, creators, content and experiences,” said Adrian Montgomery, CEO of Enthusiast Gaming.
Enthusiast Gaming is building the largest media and content platform for video game and esports fans to connect and engage worldwide.
Enthusiast (EGLX) is up by 10.16 per cent trading at $3.25 per share as of 9:39 am EST.