Thursday, October 16, 2025

Latest

Enthusiast Gaming Plummets After 2021 Earnings Release: $167.4 Million In Revenue, $52.0 Million Net Loss

Enthusiast Gaming (TSX: EGLX) reported on Monday its Q4 and full year 2021 financial results, posting an annual revenue of $167.4 million. This is higher than 2020’s revenue of $73.0 million.

However, gross margin declined to 22.6% for the year from last year’s 25.6%. Add to this, operating expenses jumped to $85.3 million coming from $35.5 million last year. Salaries and wages, and share-based compensation took the largest slices, amounting to $25.1 million and $18.9 million, respectively.

This led the company to record an annual net loss of $52.0 million compared to net losses of $26.9 million last year. The annual loss translates to $0.43 per share.

“Our momentum continues and we are pleased to confirm our record-breaking results from Q4 2021,” said CEO Adrian Montgomery. “We are seeing strong repeat business in direct sales, continued conversions of viewers into paying subscribers, and strength in our product offerings.”

Montgomery said the firm expects this trend to continue in 2022 and beyond.

The company’s shares took a dive as it opened today, falling by as much as 11.69%.

At the end of the year, the company had $22.7 million in cash coming from a starting balance of $4.3 million at the start of the year. The influx of cash mainly came from net proceeds of share offerings amounting to $95.1 million. The balance of the current assets came in at $59.3 million while current liabilities ended at $68.4 million.

Enthusiast Gaming last traded at $3.85 on the TSX.


Information for this briefing was found via Sedar and Enthusiast Gaming. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

When 4% of Global Copper Disappears Overnight | David Gower – Emerita Resources

Mining M&A: Gold X2 Acquires Kesselrun Resources

They Said Oil Was Dead. They Were Wrong. | Michael Judson – Record Resources

Recommended

Military Seizes Power in Madagascar After President Flees

Altamira Gold Hits 395.5 Metres Of 0.4 g/t Gold At Maria Bonita

Related News

Enthusiast Gaming To Begin Trading On Nasdaq April 21

Enthusiast Gaming Holdings Inc. (TSX: EGLX) announced today that its common shares have been approved...

Tuesday, April 20, 2021, 08:42:17 AM

Hut 8 Mining Slowly Steps Into Esports Space Via Partnership With Enthusiast Gaming

Hut 8 Mining (TSX: HUT) is apparently looking to muddy its once-simple investment thesis. The...

Wednesday, March 2, 2022, 08:22:12 AM

Canaccord Lowers Enthusiast Gaming’s Price Target Despite Prelim Earnings Beat

On February 8th, Enthusiast Gaming (TSX: EGLX) reported its preliminary fourth quarter 2021 results. The...

Thursday, February 17, 2022, 05:06:00 PM

Enthusiast Gaming Closes Steel Media Purchase

Enthusiast Gaming (TSXV: EGLX) announced this morning that it had completed the recently announced acquisition...

Monday, October 7, 2019, 10:29:21 AM

Enthusiast Gaming Posts Q2 Revenues of $37.1 Million, Net Loss

Enthusiast Gaming (TSX: EGLX) last night reported its second quarter financial results, posting revenues of...

Wednesday, August 11, 2021, 07:53:05 AM