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Reservoir Media vs GameSquare Holdings: RSVR and GAME compared
Reservoir Media is the larger company: $49.9M of revenue in its latest quarter (Q2 FY27) against $18.5M for GameSquare Holdings (Q2 2026). GameSquare Holdings is growing faster (+137% against +10% a year earlier). Reservoir Media is more profitable, with an operating margin of 24.6% against -9.3%.
Where the money goes: RSVR and GAME
Reservoir Media (RSVR) · Q2 FY27
Reservoir Media, Q2 FY27: revenue $49.9M (+10% year over year), operating margin 24.6%, net earnings $4.7M, operating cash flow $23.0M. The chart follows the revenue to costs, profit and cash.
GameSquare Holdings (GAME) · Q2 2026
GameSquare Holdings, Q2 2026: revenue $18.5M (+137% year over year), operating margin -9.3%, net loss $10.6M, operating cash flow −$2.8M. The chart follows the revenue to costs, profit and cash.
| Reservoir Media (RSVR) | GameSquare Holdings (GAME) | |
|---|---|---|
| Latest quarter | Q2 FY27 | Q2 2026 |
| Revenue | $49.9M | $18.5M |
| Revenue growth, Y/Y | +10% | +137% |
| Operating margin | 24.6% | -9.3% |
| Net earnings | $4.7M | −$10.6M |
| Net margin | 9.5% | -57.6% |
| Operating cash flow | $23.0M | −$2.8M |
| Free cash flow | $22.9M | — |
Where the revenue comes from
Reservoir Media
- Music Publishing: $33.2M (67%)
- Recorded Music: $15.4M (31%)
- Other revenue: $1.3M (3%)
GameSquare Holdings
- Marketing Agency: $5.9M (32%)
- Talent Agency: $4.7M (25%)
- SaaS: $2.6M (14%)
- Content: $2.1M (11%)
Questions
Which is bigger, Reservoir Media or GameSquare Holdings?
Reservoir Media is the larger company: $49.9M of revenue in its latest quarter (Q2 FY27) against $18.5M for GameSquare Holdings (Q2 2026).
Is Reservoir Media or GameSquare Holdings growing faster?
GameSquare Holdings is growing faster (+137% against +10% a year earlier).
Which is more profitable, Reservoir Media or GameSquare Holdings?
Reservoir Media is more profitable, with an operating margin of 24.6% against -9.3%.
More: Reservoir Media earnings · how Reservoir Media makes money · GameSquare Holdings earnings · how GameSquare Holdings makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 4, 2026; 10-Q filed Aug 13, 2026). Fiscal quarters can end on different dates. Not investment advice.