Enthusiast Gaming Holdings
Enthusiast Gaming Holdings is a gaming media and entertainment company that runs a network of gamer communities through multi-channel media, original content and events. It publishes quarterly and annual financial results and financial statements.
Documents
Enthusiast Gaming Holdings Inc. Consolidated Financial Statements: 2025 and 2024
Enthusiast Gaming Holdings Inc. experienced a pronounced deterioration in financial health during 2025, with total assets halving to $64.9 million from $128.4 million in 2024 and a cumulative deficit of $484.9 million.
- Enthusiast Gaming faces severe going-concern risks as shareholders’ equity collapsed to $1.78 million against $64.9 million in total liabilities.
- Total assets halved year-over-year, dropping from $128.4 million in 2024 to $64.9 million in 2025, while the cumulative deficit reached $484.9 million.
- Revenue fell sharply to $32 million in 2025, compounded by $34 million in operating losses from discontinued operations and a net loss of $44 million.
Enthusiast Gaming Records Q4 2025 Adjusted EBITDA of $2.4 Million and Full Year 2025 Financial Results
Enthusiast Gaming Holdings Inc. reported its financial results for the fourth quarter and full year ending December 31, 2025, highlighting a successful transition toward a product-first strategic model.
- Enthusiast Gaming achieved a record Q4 2025 Adjusted EBITDA of $2.4 million, a significant turnaround from the $(0.2) million loss reported in Q4 2024.
- Full-year 2025 Adjusted EBITDA from continuing operations reached $3.7 million, up from $2.2 million in 2024, reflecting the company's shift toward a product-first business model.
- Total revenue for Q4 2025 was $8.9 million, representing a 15.8% decrease compared to $10.6 million in Q4 2024, driven by a strategic reduction in represented third-party publishers.
Enthusiast Gaming Q1 2026 Financial Results
Enthusiast Gaming Holdings Inc. reported its financial results for the first quarter of 2026, highlighting a period of improved profitability and operational consistency.
- Enthusiast Gaming reported Q1 2026 revenue of $9.4 million, a 5% increase from $9.0 million in Q1 2025, driven by growth in web programmatic and events revenue.
- Adjusted EBITDA improved to $1.7 million in Q1 2026, up from $0.7 million in the same period last year.
- Gross margin expanded to 85% in Q1 2026, compared to 82% in Q1 2025, supported by a reduction in cost of sales from $1.6 million to $1.4 million.