ESE Entertainment reports $3.8m gross profit for Q2 2022
ESE Entertainment has published its second-quarter results and operational highlights for the three months ended 30 April 2022.
The company reported revenue of CA$15m (US$11.6m) for Q2 2022, which represents an increase of 1,994% from the three months ended 30 April 2021.
Gross profit for the quarter stood at $3.8m, a 2,748% increase from the $0.1m gross profit of Q2 2021.
Q2 2022 saw an EBITDA of $884,751, compared to an $832,195 EBITDA loss for Q2 2021.
Total assets as of 30 April 2022 stood at $38m, an increase from the $15.9m total assets as of 30 April 2021.
Konrad Wasiela, ESE CEO, said: “The combined operations have proven to deliver record revenue growth, improve margins and reach a critical milestone of achieving positive adjusted EBITDA for the first time in company history.
"This performance is a testament to our entire team, which continues to execute at the highest level and deliver on our business plan and growth strategy.”
The company’s Q2 2022 operational highlights included the acquisition of Gameaddik, partnerships with Opera, Waveform Entertainment, Corsair Gaming and Cowana, a new broadcast studio in Warsaw and a new business division focused on developing existing products.
In addition, ESE appointed Gameaddik Founder and CEO, Eric Jodoin, as the company’s new Chief Operating Officer.
April 2022 saw ESE launch a new iGaming division in an effort to capitalise on Ontario’s burgeoning internet gambling market. This announcement boosted the company’s share price, reaching a five-day high of $1.02 on 4 April.