Filing Flows › GameSquare Holdings (GAME) › Q1 2026
GameSquare Holdings (GAME) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 14, 2026
GameSquare Holdings (GAME) reported revenue of $14.5M for the first quarter 2026 (Q1 2026), +95% from a year earlier and -21% from the quarter before. Operating margin was -23.3%, net loss $17.7M (122.1% of revenue).
GameSquare Holdings, Q1 2026: revenue $14.5M (+95% year over year), operating margin -23.3%, net loss $17.7M, operating cash flow −$6.4M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $14.5M | -21% | +95% |
| Operating profit | −$3.4M | — | — |
| Net earnings | −$17.7M | — | — |
| Operating cash flow | −$6.4M | — | — |
What changed
Revenue was $14.5M in Q1 2026, up 95% year over year and down 21% from the previous quarter. Talent Agency was the largest line at 27% of revenue. Talent Agency added $2.8M year over year (up 233%), 39% of the total change. Esports declined 50%.
Gross margin was 38.4%, down 4.0 points from Q1 2025. Operating costs exceeded revenue by $3.4M, an operating margin of -23.3%. Operating expenses grew 23% against revenue growth of 95%. The fastest-growing cost line was Sales & marketing (+60%). The quarter ended with a net loss of $17.7M, narrower than the previous quarter's $31.1M loss. Net interest and other expense of $14.2M was the main reason.
Operating cash flow was −$6.4M. Non-cash charges added back $434K of depreciation and amortization and $528K of share-based compensation. Working capital and other items added $10.3M. Capital expenditures of $3K exceeded it, leaving free cash flow of −$6.4M.
Questions
What was GameSquare Holdings' revenue in the first quarter 2026?
GameSquare Holdings (GAME) reported revenue of $14.5M for the first quarter 2026 (Q1 2026), +95% from a year earlier and -21% from the quarter before.
Was GameSquare Holdings profitable in the first quarter 2026?
Operating loss was $3.4M (-23.3% of revenue) and net loss $17.7M.