GameSquare Reports First Positive Adjusted EBITDA Quarter in Q4 2025

GameSquare Holdings, Inc. has announced a significant financial milestone. For the first time, the company achieved a positive adjusted EBITDA in the fourth quarter of 2025. The figure stood at $1.7 million, or 9.4% of their $18.5 million revenue for the period, signaling a pivotal turn towards operating profitability.

Bolstered by the acquisition of TubeBuddy, the proforma adjusted EBITDA was $2.3 million. The gross margin saw a noteworthy increase to 45.9%, a 20.1 percentage point improvement year-over-year. CEO Justin Kenna attributes these results to strategic investments and enhanced profitability across the business spectrum.

Despite a net loss from continuing operations of $28.2 million, the company remains upbeat about future growth, with plans for further expansion through acquisitions like TubeBuddy. GameSquare sees itself as a leader at the crossroads of gaming, creators, and culture, poised for a promising 2026.