GameSquare (US:GAME)2026-01-20 12:00Market Trends and TAM - The global video game market is projected to reach $284 billion by 2025, with a CAGR of 12%[7] - The U S influencer marketing platform market is projected to reach $5 5 billion by 2025, with a CAGR of 13%[7] - U S digital advertising spending is projected to reach $342 billion by 2025, with a CAGR of 28%[7] - The global gaming market has a TAM of over $230 billion[7] - Influencers drive 60-65% of revenue activity in the gaming market[7] - Marketing spend in the gaming market accounts for 10-15% of revenue, targeting $23-35 billion[7] GameSquare Ecosystem and Acquisition - Click, a global creator network acquisition, is estimated to generate $14 5 million in revenue and $1 2 million in EBITDA on an annualized 2H 2025 basis[16] - Click enhances GameSquare's talent, media, and content ecosystem, unlocking new revenue and growth opportunities[17] Financial Performance and Guidance - GameSquare's 2H 2025 pro forma revenue guidance is $36 8 million and adjusted EBITDA is $2 9 million[41] - Gross margin is expected to double due to the shutdown of Frankly, the acquisition of Click, and ETH yield[42] - Click is expected to contribute $7 million to 2H revenue[42] - Deals in the crypto sector are expected to contribute $3 million to 2H revenue[42] Treasury Strategy - GameSquare is targeting an ETH yield of 8-14%, fully ramped[45] - As of September 30, 2025, GameSquare held 15,618 ETH[45] - $6 25 million of Web3 deals closed as of Sept 30, 2025[45]