GameSquare Holdings Inc. (NASDAQ:GAME) shares jumped 74.36% to $0.44 in after-hours trading Wednesday after the company reported fourth-quarter 2025 results that included its first positive adjusted EBITDA, along with full-year 2025 financials and a reiteration of its 2026 guidance.
The Texas-based, vertically integrated media, entertainment and technology company reported results for the period ending Dec. 31, 2025.
What Q4 Data Says
Fourth-quarter earnings per share came in at -$0.32, compared with a analyst estimate of -$0.02, marking a miss of 1,500%. Revenue for GameSquare totaled $18.46 million, falling short of the estimated $23.08 million by 20.03%.
Other metrics reported:
| Metric | Q4 2025 | Q4 2024 |
|---|---|---|
| Gross Profit | $8.5 million | $2.0 million |
| Gross Margin | 45.9% | 25.8% |
| Adjusted EBITDA | $1.7 million | -$3.1 million |
Adjusted EBITDA for the company improved and accounted for 9.4% of revenue in the fourth quarter of 2025, compared with negative 40.1% in the same period a year earlier.
Net loss of GameSquare from continuing operations totaled $28.2 million. This included …
