ESE Entertainment has published its financial results and operational updates for Q2 2022, reporting record growth in revenue and positive adjusted EBITDA.
Revenue for the quarter stood at $15m, a 1,994% increase from the $0.72m in Q2 2021. Gross profit saw a 2,748% increase for the quarter, rising from $0.13m to $3.82m.
Adjusted EBITDA stood at $884,751 for Q2 2022, compared to an adjusted EBITDA loss of $832,195 for Q2 2021. Total assets as of 30 April 2022 stood at $38m, an increase from the $15.9m figure from the previous year.
ESE CEO Konrad Wasiela said: “Our team’s relentless work ethic, alongside a strategic business plan, yielded a successful first half of 2022. We are now setting our sights on following up the tremendous start to the year with even stronger quarters ahead.”
Operational highlights included the complete integration of the newly acquired Gameaddik business unit, record sales growth with both new and major clients and the employment of new staff to support the company’s ongoing growth.
ESE COO Eric Jodoin said: “Q2 has been an exciting ride for us, seeing our progress snowball on key strategic pillars such as hiring new talent and growth programs for employees, along with strengthening the relationship with major clients.”
ESE went on to detail its corporate goals for the remainder of 2022, with staff acquisition, including senior management and advisors, a primary focus. Additionally, the company is looking to further improve its financial performance and continue to grow the business on a global scale.
