Successful Conclusion of Strategic Process, Resulting in Signed Merger Agreement with GameSquare Esports, Inc.
Significant Improvement in Net Loss of $9.8 Million to $5.4 million, Up 65% on a Sequential Basis
Combination creates end to end digital media and technology platform connecting global brands with gaming and youth culture audiences.
FY 2022 record revenue of $41.9 million, up from $33.3 million YoY, an increase of 26%. Fiscal fourth quarter revenues of $11.5 million, up 24% on a sequential basis compared to the fiscal third quarter of 2022. FY 2022 net loss improved $26.2 million to $14.5 million YoY, compared to a net loss of $40.7 million.
Engine Gaming and Media, Inc. (NASDAQ:GAME) (TSX-V:GAME) provides unparalleled live streaming data and social analytics, influencer relationship management, and programmatic advertising to support the world's largest video gaming companies, brand marketers, ecommerce companies, media publishers and agencies to drive new streams of revenue. Engine generates revenue through a combination of software-as-a-service subscription fees, managed services, and programmatic advertising.
The company's subsidiaries include Stream Hatchet, the global leader in gaming video distribution analytics; Sideqik, a social influencer marketing discovery, analytics, and activation platform; and Frankly Media, a digital publishing platform used to create, distribute, and monetize content across all digital channels.
Tom Rogers is a media/technology executive who has shaped many corners of the communications industry. From revolutionizing business news coverage worldwide through the creation of CNBC and MSNBC; to changing the face of TV consumption through TiVo, including such impactful innovations as bringing Netflix and Amazon to the TV screen; to overseeing such iconic media brands from New York Magazine to the Arts & Entertainment and History channels; to writing many of the nation’s key laws that governed the development of today’s media industry. From print to television to digital, Rogers’ influence has been felt throughout all media sectors. For more than three decades, his career has operated at the nexus of media, technology, and public policy.
Schwartz is a seasoned technology and digital media executive and pioneer in internet video management and over-the-top (“OTT”) video delivery. At WWE, he oversaw all digital platforms and helped lead the development of the WWE Network. He was also CEO of UUX, where he successfully led the merger of Totalmovie, a leading Latin American retail OTT service, with OTT Networks. Previously, Schwartz was CEO of the Americas and General Counsel for Piksel and he co-founded Multicast Media Technologies, one of the first Internet video platform companies, which sold to Piksel in March 2010. The former CEO of Frankly Media became co-CEO of Engine Media in August, 2020 and CEO in November, 2020.
Rutkowski is a highly accomplished senior C-level executive with more than 30 years of success spanning finance, media, retail, private equity, online publishing, and technology. He has held leadership positions with PETCO Animal Supplies, Inc., Primedia, NBC/General Electric, and the Walt Disney Company. Currently, Mr. Rutkowski is an esteemed corporate advisor and board member of several corporations. Rutkowski serves as Audit Chair on the Engine Media Board of Directors.
Stuart Porter is a Founder and Chief Executive Officer of Denham Capital and brings 29 years of senior investment experience. Prior to founding Denham, Stu was a founding partner of Sowood Capital Management LP and, prior thereto, was employed as a Vice President and Portfolio Manager at Harvard Management Company, Inc. Stu previously worked for Bacon Investments and at J. Aron, a division of Goldman Sachs. While at J. Aron, he worked on the Goldman Sachs Commodity Index desk. Stu received his BA from the University of Michigan and MBA from the University of Chicago Booth School of Business.
Rudolph “Rudy” Cline-Thomas
Cline-Thomas is the Founder and Managing Partner of MASTRY. This multi-stage venture fund counts world-class athletes, top CEOs, and influencers as limited partners to assist in creating top-tier platform-building opportunities. He is the founder of The Players Technology Summit, which brings together leaders in the technology, venture capital, and sports communities to discuss tech investing, trends, partnerships, and future sports/tech initiatives. Cline-Thomas serves on several boards, including Salesforce, Jumia Technologies, and Zuora, and is a member of the Board of Trustees for Providence College, where he earned his degree.
Gregory R. Raifman
Gregory R. Raifman is a four-decade Internet industry veteran with a focus on web services, data analysis and software platforms. Most recently, he was President of Nexstar Digital, LLC, a wholly owned subsidiary of Nexstar Media Group, Inc., the largest broadcast company in the United States. Previously, he served as President and a member of the board of directors of Rubicon Project, Inc., an advertising technology company. Raifman has served on several boards of directors, including the Mobile Marketing Association, IAB’s Trustworthy Accountability Group, and Advertising Women of New York.