Enthusiast Gaming saw improvement in financials in Q4 and 2024, focusing on high-margin growth.

From GlobeNewswire: 2025-03-31 16:30:00

Enthusiast Gaming Holdings Inc. reported a Quarterly Adjusted EBITDA of $1.9 million in Q4, marking a $4.9 million YoY improvement. Annual Adjusted EBITDA for 2024 was $(0.2) million, an increase of $12.8 million YoY. Gross Margins in Q4 were 76%, up 3600 bps YoY, reflecting strong financial performance and strategic growth initiatives.

Enthusiast Gaming’s financial results for Q4 2024 and FY 2024 show a focus on repositioning the business for high-margin growth. The company streamlined operations, leading to improved profitability, expanded gross margins, and growing operating leverage. With a strong foundation in place, Enthusiast Gaming aims to drive sustained growth through audience expansion in 2025.

In Q4 2024, Enthusiast Gaming reported revenue of $17.8 million, a decrease from $47.1 million in Q4 2023. Gross profit was $13.5 million, with a gross margin of 76%. Operating expenses decreased to $15.6 million, resulting in an Adjusted EBITDA profit of $1.9 million, compared to a loss of $3.0 million in Q4 2023.

The Company’s key properties, like Icy Veins and PocketGamer, saw increased engagement and audience growth in Q4 2024. Enthusiast Gaming attracted new clients and bolstered its direct sales team, with plans for further growth in 2025. Luminosity Gaming’s events and expansions in game coverage have been successful, showcasing the company’s strength in the esports industry.

Enthusiast Gaming announced the promotion of Alex Gonzalez to Chief Marketing Officer, recognizing his contributions to the company. The company will host a conference call on March 31, 2025, to discuss its financial results. Financial statements and other information are available on the company’s website for further details.



Read more at GlobeNewswire:: Enthusiast Gaming Reports Q4 and Full Year 2024 Financial