Gamesquare Holdings, Inc. (GAME)
NASDAQ:GAME
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GameSquare Holdings
(NASDAQ:GAME)
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Rating:50Neutral
Price Target:
$0.37
▲(32.14% Upside)
Action:ReiteratedDate:04/11/26
The score is held down primarily by weak underlying financial performance—persistent losses and consistently negative operating/free cash flow—despite strong revenue growth. Earnings-call updates and recent strategic actions provide a meaningful positive offset via improving margins and a stronger balance-sheet narrative, while technicals are only moderately supportive and valuation is constrained by a large negative P/E and no dividend yield.
Positive Factors
Improved gross margin
A near-50% gross margin materially improves the unit economics of GameSquare's services and content businesses. Sustained elevated gross margins indicate stronger pricing power and scalability of core offerings, making future EBITDA and cash-flow conversion targets more attainable if SG&A stays controlled.
Negative Factors
Persistent negative cash flow
Consistent operating and free cash-flow deficits mean the business relies on external financing or asset sales to fund growth. That structural cash burn increases dilution risk, limits reinvestment capacity, and pressures the timeline for the company to demonstrate self-sustaining cash generation.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved gross margin
A near-50% gross margin materially improves the unit economics of GameSquare's services and content businesses. Sustained elevated gross margins indicate stronger pricing power and scalability of core offerings, making future EBITDA and cash-flow conversion targets more attainable if SG&A stays controlled.
Read all positive factors
GameSquare Holdings (GAME) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$35.43M
Dividend YieldN/A
Average Volume (3M)918.73K
Price to Earnings (P/E)―
Beta (1Y)1.70
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees132
SectorCommunication Services
Sector Strength97
IndustryElectronic Gaming & Multimedia
Share Statistics
EPS (TTM)N/A
Shares Outstanding95,761,215
10 Day Avg. Volume538,814
30 Day Avg. Volume918,725
Financial Highlights & Ratios
PEG Ratio9.07
Price to Book (P/B)709.62
Price to Sales (P/S)562.25
P/FCF Ratio>-0.01
Enterprise Value/Market Cap0.92
Enterprise Value/Revenue0.49
Enterprise Value/Gross Profit1.68
Enterprise Value/Ebitda-2.65
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
GameSquare Holdings Business Overview & Revenue Model
Company Description
GameSquare Holdings, Inc. is an international digital media, entertainment and technology company. It engages in enabling global brands to connect with gaming and youth culture audiences. Its platform includes Code Red Esports Ltd., Cut+Sew (Zoned...
How the Company Makes Money
GameSquare primarily makes money by providing marketing and media services to brands that want to reach gaming audiences. Key revenue streams include: (1) Agency and marketing services: Fees from planning and executing gaming/esports-focused campa...
GameSquare Holdings Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
42
Neutral
Cash Flow
15
Very Negative
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Aug 2022 | Aug 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 45.00M | 96.20M | 41.30M | 28.08M | 33.35M |
| Gross Profit | 18.39M | 15.27M | 10.10M | 9.66M | 10.49M |
| EBITDA | -9.71M | -51.00M | -22.03M | -15.60M | -24.06M |
| Net Income | -42.82M | -48.75M | -31.28M | -18.12M | -40.66M |
Balance Sheet | |||||
| Total Assets | 79.84M | 81.95M | 64.71M | 42.69M | 67.46M |
| Cash, Cash Equivalents and Short-Term Investments | 6.37M | 13.15M | 2.99M | 8.65M | 15.64M |
| Total Debt | 3.60M | 22.70M | 15.06M | 8.27M | 11.32M |
| Total Liabilities | 44.19M | 69.95M | 46.35M | 26.81M | 41.90M |
| Stockholders Equity | 35.65M | 12.00M | 18.36M | 15.89M | 25.42M |
Cash Flow | |||||
| Free Cash Flow | -18.48T | -30.58M | -16.08M | -20.69M | -30.58M |
| Operating Cash Flow | -18.40T | -30.57M | -16.08M | -20.61M | -30.40M |
| Investing Cash Flow | -60.33T | 2.71M | 14.07M | 13.45M | 92.03K |
| Financing Cash Flow | 72.66T | 37.97M | 3.95M | -326.60K | 39.58M |
GameSquare Holdings Technical Analysis
Positive
0.28
Price Trends
0.30
Positive
0.38
Negative
0.63
Negative
Market Momentum
>-0.01
Negative
68.98
Neutral
44.70
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GAME, the sentiment is Positive. The current price of 0.28 is above the 20-day moving average (MA) of 0.28, below the 50-day MA of 0.30, and below the 200-day MA of 0.63, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 68.98 is Neutral, neither overbought nor oversold. The STOCH value of 44.70 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GAME.
GameSquare Holdings Risk Analysis
GameSquare Holdings disclosed 28 risk factors in its most recent earnings report. GameSquare Holdings reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
GameSquare Holdings Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
62 Neutral | $21.03M | 2.21 | 44.93% | ― | 11.38% | -94.39% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
59 Neutral | $43.54M | 12.87 | 13.22% | ― | ― | ― | |
50 Neutral | $35.43M | -590.83 | -134.37% | ― | ― | ― | |
49 Neutral | $56.46M | -2.86 | -15.36% | ― | -17.17% | -51.88% | |
45 Neutral | $38.38M | -0.58 | -52.48% | ― | -8.99% | -117.83% |
* Communication Services Sector Average
GAME
GameSquare Holdings
0.37
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GameSquare Holdings Corporate Events
Delistings and Listing ChangesRegulatory Filings and Compliance
GameSquare Gets Nasdaq Extension to Regain Listing Compliance
Negative
Mar 11, 2026
On March 10, 2026, GameSquare Holdings, Inc. received a second notice from Nasdaq granting the company an additional 180 days, until September 7, 2026, to regain compliance with the exchange’s $1.00 minimum bid price requirement. The extensi...
Business Operations and StrategyFinancial DisclosuresM&A Transactions
GameSquare Acquires TubeBuddy, Expands Creator Tools Platform
Positive
Feb 23, 2026
On February 20, 2026, GameSquare’s TubeBuddy subsidiary agreed to acquire substantially all assets of TubeBuddy from BENlabs, issuing 5 million shares of newly created Series A-2 Convertible Preferred Stock as consideration. The preferred st...
Business Operations and StrategyExecutive/Board Changes
GameSquare Holdings appoints new COO and updates outlook
Positive
Feb 6, 2026
On February 2, 2026, GameSquare Holdings appointed Amaree Tanawong as chief operating officer, bringing nearly 20 years of experience in strategy, finance and operations at high-growth media and technology companies, including senior roles at Meow...
Business Operations and StrategyExecutive/Board Changes
GameSquare Expands Justin Kenna’s Role and Compensation Package
Positive
Jan 16, 2026
On January 16, 2026, GameSquare Holdings’ board appointed its current chairman and chief executive officer, Justin Kenna, as president of the company, formalizing his expanded leadership role under an amended and restated employment agreemen...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.