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GameSquare Holdings, Inc.

GAME Communication Services Electronic Gaming & Multimedia

GameSquare Holdings, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $45.0 million, down 53.2% from fiscal 2024.

Revenue
+137.2%
EPS
−37.5%
Free cash flow
−263.3%

Quarter to June 2026, against a year earlier

2.43 0.23 −8.65%
Market cap
$46.3M
P/E
0.0×
Fwd P/E
−1.1×
Dividend yield
—
F-score
4/9
Altman Z
−2.78
Beneish M
−4.16
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 1.65
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — 1 1 — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 11.16%

Capital & Financial Ratios $m

Size
Market Cap 46.26
Revenue ttm 62.75
Net income ttm (60.28)
Free cash flow ttm (19.20)
Net debt Q (4.46)
Valuation
P/E 0.00
Forward P/E (1.09) (negative: loss-making)
Price / sales 0.46
Forward P/S Powerpack
Price / FCF 0.00
Price / book 2.92
Financial health
Current ratio Q 0.90 (below 1: weak)
Debt / equity Q 0.00 (at or below 0.5: strong)
Interest coverage Q 95.63
Growth
Revenue growth Q +137.21% (above 0%: growing)
Operating income growth Q +59.88% (above 0%: growing)
EPS, this year +44.26% (at or above 15%: strong)
EPS, next year A +126.47% (at or above 15%: strong)
Revenue, next year A +194.08% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A —

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.6×, against a ten-year median of 0.8×; over the ten years it ranged from 0.2× in 2022 to 140× in 2020.
P/S against its own 10 years 24.40%
10-year low 10-year high
P/B against its own 10 years 59.59%
10-year low 10-year high
EV/Sales against its own 10 years 30.07%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 3 13 6 4
Receivables 16 21 9 11
Inventory — — — —
Other 2 0 6 24
22 36 22 40
2023 2024 2025 Q'26
Payables 23 27 22 21
ST’ Debt — 6 — —
Other 1 0 6 1
36 55 41 45

Compound Annual Growth %

10y 5y 3y
Sales 63.92% 6.18% 17.02%
Cash Flow 0.00% 0.00% 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value 0.00% 6.88% 69.93%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate −0.24 Actual 0.88

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q2 FY25 −0.80 −0.88 Miss by 0.08
Q3 FY25 −0.24 −0.24 Met by 0.00
Q1 FY26 −0.32 −0.16 Beat by 0.16
Q2 FY26 −0.24 0.88 Beat by 1.12
Q3 FY26 −0.16 — Reports 12 November 2026

EPS $

Mar Jun Sep Dec Year
’26 (1.44) (0.88) — — —
’25 (1.12) (0.64) (0.08) (2.56) (4.88)
’24 (2.40) (3.04) (1.44) (6.48) (14.00)
’23 (3.68) (2.72) (3.12) (11.00) (22.48)
’22 — — (21.12) (10.88) (26.08)
’22 — (3.89) — — (29.50)
’21 — — — — (109.93)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 15 18 — — —
’25 7 8 11 18 45
’24 18 29 26 23 96
’23 3 11 12 10 41
’22 — — 10 (2) 28
’22 — 7 — — 42
’21 — — 7 8 33
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (6) (3) — — —
’25 (9) 2 (10) (1) (18)
’24 (8) (10) (8) (5) (31)
’23 (1) (2) (3) (6) (16)
’22 — — 7 (4) (12)
’22 — 5 — — (20)
’21 12 — — — (30)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (5) (3) — — —
’25 (9) 2 (10) (1) (19)
’24 (8) (10) (8) (5) (31)
’23 (1) (2) (3) (6) (16)
’22 — — 7 (4) (12)
’22 — 5 — — (20)
’21 12 — — — (31)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue — 0 3 11 11 33 28 41 96 45 63 +85.5% 132 195 — +108.3%
Gross margin, % — (673.60) (165.77) 100.00 100.00 100.00 34.39 24.46 9.83 43.37 45.72 +717.0 pt
EBT — (11) (10) (27) (50) (25) (18) (26) (35) (30) (50) +14.0%
EBT margin, % — (3,269.19) (296.72) (251.81) 0.00 (73.63) (65.46) (63.75) (36.16) (66.59) (80.18) +3,202.6 pt
Net income — 0 (9) 0 32 (41) (18) (31) (54) (42) (60) n/m
Per share, $
Per share, $ Revenue — 4.31 114.24 0.00 114.38 89.86 40.42 29.71 27.59 5.48 5.29 +3.1%
Earnings — (140.35) (372.45) (399.77) (351.63) (109.93) (26.08) (22.48) (14.00) (4.88) (4.96) (34.3%)
Cash flow — (55.09) (173.68) (126.67) 0.00 (81.76) (17.16) (11.57) (8.77) (2.24) (1.74) (33.0%)
Capex — 0.00 0.00 0.00 0.00 (0.51) (0.05) 0.00 (0.02) (0.05) 0.13 n/m
Free cash flow — (55.09) (173.68) (126.67) 0.00 (82.26) (17.21) (11.57) (8.78) (2.29) (1.62) (32.8%)
Book value — (19.02) 224.02 0.00 2.86 68.89 10.46 13.21 3.44 4.34 0.83 n/m
Shares, m — 0 0 0 0 0 1 1 3 8 11 +80.0%
Valuation, ×
Valuation, × P/E — 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.0
P/S — 0.00 0.00 0.00 0.00 18.70 0.70 0.65 0.24 0.56 0.46 2.3
P/B — 0.00 0.00 0.00 10,869.11 24.56 2.88 1.25 1.92 0.80 2.92 1,211.2
EV/Sales — 0.00 0.00 0.00 0.00 18.55 0.75 0.94 0.27 0.68 0.58 2.4
EV/FCF — 0.00 0.00 0.00 (852.00) (33.41) 5.64 (2.92) (0.84) (1.64) (1.89) (98.4)
Cash, $m
Cash, $m Operating cash flow — (4) (5) (5) 1 (30) (12) (16) (31) (18) (21) +20.6%
Capex — (1) 0 0 0 0 0 0 0 0 2 (11.1%)
Free cash flow — (4) (5) (5) 0 (31) (12) (16) (31) (19) (19) +20.9%
Balance, $m
Balance, $m Working capital — (6) (6) (30) 9 (1) 0 (14) (18) (19) (5) +15.5%
Net debt — (2) 0 (5) 6 (5) (1) 5 3 (6) (4) +18.0%
Shareholders’ equity — (1) 7 0 0 26 7 18 12 36 10 n/m
Returns, %
Returns, % ROA — (87.62) (151.21) (100.92) (131.23) (107.01) (57.62) (73.68) (67.97) (50.75) (117.08) +36.9 pt
ROIC — 0.00 0.00 0.00 0.00 (50.68) (174.39) (48.73) (89.47) (28.03) (113.49) (28.0) pt
ROE — (387.85) (419.42) 80.80 0.00 (315.31) (156.54) (244.12) (321.08) (183.38) (2,776.34) +204.5 pt
People
People Employees — — — — — 195 113 175 132 144 — (7.3%)
Revenue/emp, $m — 0.00 0.00 0.00 0.00 0.17 0.00 0.24 0.73 0.31 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 2 Nov 2026

GameSquare Holdings, Inc. vs peers in Electronic Gaming & Multimedia (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
GDEV GDEV Inc. $159.0M 2.2× 2.0× −18.54% (below 0%: shrinking) +1,000.00% (above 0%: growing) +4,744.48% (above 0%: growing) 84.44% 21.72% Compare
GCL GCL Global Holdings Ltd. $130.6M — (loss-making) — — −66.67% (below 0%: shrinking) −1,222.35% (below 0%: shrinking) — — Compare
CTW CTW Cayman $100.7M — — — — −216.27% (below 0%: shrinking) — — Compare
MYPS PLAYSTUDIOS, Inc. $56.2M — (loss-making) — (loss-making) −15.14% (below 0%: shrinking) n/m +281.63% (above 0%: growing) 81.23% (40.41%) Compare
GAME GameSquare Holdings, Inc. $46.3M — (loss-making) — (loss-making) +137.21% (above 0%: growing) n/m −263.32% (below 0%: shrinking) 48.98% (9.26%)
GMHS Gamehaus Holdings Inc. $36.2M 7.1× — −12.33% (below 0%: shrinking) −36.31% (below 0%: shrinking) −52.86% (below 0%: shrinking) 53.77% 3.31% Compare
MSGM Motorsport Games Inc. $19.6M 10.0× 15.3× +36.58% (above 0%: growing) −90.24% (below 0%: shrinking) +381.17% (above 0%: growing) 81.79% 18.03% Compare
SNAL Snail, Inc. $16.3M — (loss-making) 4.9× −11.31% (below 0%: shrinking) n/m +18.27% (above 0%: growing) 39.07% (13.54%) Compare
GIGM GigaMedia Limited $15.5M 17.5× — +245.41% (above 0%: growing) n/m +52.13% (above 0%: growing) 63.21% 21.55% Compare
Median of peers $46.2M 8.5× 4.9× −11.82% −51.49% +35.20% 72.22% 10.67%

All 22 Electronic Gaming & Multimedia stocks →

Pay and ownership Proxy statement filed 2 October 2026

Ownership

Directors and executive officers, together 9.40%
Entities affiliated with Blue & Silver Ventures, Ltd. 6.20%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

GameSquare Holdings, Inc. (GAME) Latest News

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stockrow.com/GAME · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com