- ESE Entertainment (ESE) brought in $4.23 million in revenue in the third quarter of 2021
- The company also ended the quarter with its cash balance increased to $9.17 million and no debt
- Major events for the company included a content production contract with Bitcoin Vault and the acquisition of Digital Motorsports
- ESE continues to develop new software and technology for gaming and esports
- ESE Entertainment Inc. (ESE) is up 24.75 per cent, trading at $1.26 per share
ESE Entertainment (ESE) brought in $4.23 million in revenue in the third quarter of 2021.
This represents revenue growth of $4.09 million compared to the third quarter of 2020.
The company also ended the quarter with its cash balance increased to $9.17 million and no debt after the company raised $8.6 million in a bought deal public offering.
Major events for the company included a content production contract with Bitcoin Vault and the acquisition of Digital Motorsports.
Konrad Wasiela, CEO of ESE Entertainment, commented,
“After significant growth in the ESE group, launching our acquisition Digital Motorsports and raising $8.6 million to accelerate expansion, Q3 was a standout quarter for ESE Entertainment.”
Overall, the company continues to improve its bottom line, with a net loss of $1.2 million compared to a net loss of $3.81 million in the previous quarter.
ESE continues to develop new software and technology for gaming and esports.
“In the coming months, we anticipate revenue growth and margin expansion,” said Mr. Wasiela. “We expect this growth to be driven by momentum in the existing business, performance of the newly completed Digital Motorsports acquisition, direct sales to our increasing pipeline of clients, and new business from our scalable technology and growing ecommerce platform.”
ESE is a European-based entertainment and technology company focused on gaming, particularly on esports.
The company provides a range of services to leading video game developers, publishers, and brands by providing technology, infrastructure, and fan engagement services internationally.
ESE Entertainment Inc. (ESE) is up 24.75 per cent, trading at $1.26 per share as of 3:59 pm ET.