Engine Gaming and Media Inc. (NASDAQ: GAME) stock gained by 1.92% at last close while the GAME stock price surged by 30.50% in the after-hours trading session. Engine Gaming and Media offers special social sports and esports gaming activities, as well as unrivaled data analytics, marketing, branding, and intellectual property to promote its owned and operated direct-to-consumer platforms, as well as customers and partners.
GAME stock’ Financial Outcomes
Engine Gaming and Media has released its fourth-quarter and fiscal-year 2021 financial results, which ended on August 31, 2021. Given below is the summary:
- The total revenue generated for the fiscal year ended August 31, 2021, was $37.2 million, up from $10.5 million in FY 2020, a 253 percent increase year over year. However, for the fourth quarter of the fiscal year, 2021 total revenue was $11.8 million, up 67 percent year over year from $7.0 million in the fourth quarter of fiscal 2020.
- The net loss for the full year of fiscal 2021 was $40.7 million, an increase of $8.4 million from the net loss of $32.3 million in FY 2020. The net loss for the fourth quarter of fiscal 2021 was $13.5 million, up $3.4 million from FY Q4’2020’s net loss of $10.1 million. Net loss comprised $18.5 million in non-cash expense (income) for the fiscal year ended August 31, 2021, and $8.1 million in FY Q4’2021.
- As of August 31, 2021, the Company has $15.3 million in cash and $8.6 million in receivables. After deducting non-cash warrant liabilities and legal procedures provision, the Company had a working capital surplus of $10.4 million.
Lou Schwartz, the CEO, commented,
Engine has made significant success in creating a distinct firm at the intersection of gaming and media, allowing them to engage in a number of macro growth areas such as social gaming, social commerce, data analytics, and media monetization. When they use their assets to surface targeted groups that can be monetized through business to business or direct to consumer social interactions, they have a distinct competitive edge.
