Revenue of $20.5M in Q4 2024 and $83M for the full yearA-EBITDA of $2.5M in Q4 2024 and $11.6M for the full year
VANCOUVER, BC, March 24, 2025 /CNW/ – East Side Games Group (TSX: EAGR) (OTC: EAGRF) (“ESGG” or the “Company”), today reported its financial results for the fourth quarter and year ended December 31, 2024, marking another successful period with robust operational performance and continued investment in its portfolio. The Company closed out the quarter with $2.5 million in adjusted EBITDA, representing a 12% margin, ending the year with $11.6M in adjusted EBITDA, at a 14% margin. The Company has reached its stated goal of building up cash in the past 6 quarters and is executing its strategy to pivot into growth for 2025. This focus is further underlined by an 11% increase in ARPDAUs from where we ended in 2023 at $1.01. The Company continues to acquire players that are profitable within aggressive payback windows on its marketing spend.
ESG will release its fourth-quarter 2024 financial results, business outlook, and an earnings call video on its investor relations website https://eastsidegamesgroup.com/investors/financial-information on Monday, March 24th, 2025, at approximately 2:00 p.m. Pacific Time.
“We’ve doubled down on our fundamentals this year, ensuring we operate with efficiency and sustainable growth in mind,” said Jason Bailey, Chief Executive Officer. “Looking ahead to 2025, we’re confident in the new games that we are launching and the growth they will bring. Our existing library, together with these new titles, clearly reflects our ability to leverage strategic partnerships to drive expansion and stand out in the mobile marketplace.”
The company has significantly diversified its revenue streams through subscriptions, season passes, and new advertising placements, optimizing in-game monetization strategies. This year saw ESG strategically focus on quality over quantity, consolidating best practices across its game portfolio to maximize player engagement and revenue generation.
ESG also made strides in expanding its market presence with a launch on the new Epic Mobile Store, releasing Trailer Park Boys: Greasy Money. As one of the few developers on the platform, ESG has already seen 21% of installs come from the store, all through organic, non-paid traffic. With Epic Mobile Store taking a lower platform fee, ESG is positioned to benefit from improved profit margins.
Looking ahead, ESG is poised for an exciting 2025 with the launch of RuPaul’s Drag Race: Match Queen and Squishmallows Match. The soft launch of RuPaul’s Drag Race: Match Queen has already shown remarkable retention, engagement, and monetization metrics. Both titles feature beloved IPs and are expected to perform strongly in the global market.
“We are thrilled to continue building on the success of our game portfolio with the upcoming launch of RuPaul’s Drag Race: Match Queen and Squishmallows Match”, said Jim Wagner, Chief Product Officer at East Side Games. “For RuPaul’s Drag Race: Match Queen, we’ve applied the best lessons learned from RuPaul’s Drag Race Superstar and our existing match games to create a hybrid experience that is fun, engaging, and easy to pick up.”
Four Months Ended Dec 31st, 2024 Financial highlights
Total 2024 Revenue: $83 million.Adjusted EBITDA: Adjusted for non-recurring project write-offs, operational profitability of $11.6 million with a margin of 14%.DAU (Daily Active Users): 221,000.ARPDAU (Average Revenue Per Daily Active User): $1.01, up 11% from 2023.Cash Balance: $7.5 million, an increase of $2.2 million from the prior year.Share Buybacks: ESG has repurchased 2.7 million shares to date at a cost of $1.9 million, reinforcing its commitment to shareholder value.
Certain information provided in this news release is extracted from the consolidated financial statements (the “Financial Statements”) and Management’s Discussion & Analysis (“MD&A”) of the Company for the quarter ended September 30, 2024, and should be read in conjunction with them. It is only in the context of the fulsome information and disclosures contained in the Financial Statements and MD&A that an investor can properly analyze this information. The Financial Statements and MD&A can be found under the Company’s profile on SEDAR and EDGAR.
ABOUT EAST SIDE GAMES GROUP
ESGG is a leader in free-to-play mobile gaming, thrilling players with unforgettable experiences that spark lifelong fandom. Fueled by an entrepreneurial spirit, we are driven by creativity, flawless execution, and a laser-focused growth strategy. We develop and publish both original and licensed IP titles, license our cutting-edge GameKit(s) platforms, and strategically acquire studios or games to expand our family.
Headquartered in Vancouver with around 120 talent dense team members, we operate over a dozen titles under East Side Games (“ESG”) and LDRLY (Technologies) Inc. (“LDRLY”). Together, we’re crafting, launching, and publishing mobile games across our own studios and an extended Game Kit partner network—reaching players on iOS and Android worldwide.
We power our success through in-app purchases (“IAP”)—offering exclusive, game-enhancing virtual items—and in-game advertising. To keep growing, we focus on captivating audiences, keeping them engaged, and unlocking exciting new ways to monetize. We’ll drive this momentum by launching bold new titles, enriching our current lineup, innovating discovery, expanding into fresh markets and exploring new distribution platforms.
Additional information about the Company continues to be available under its legal name, East Side Games Group Inc., at www.sedar.com.
Forward-looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the proposed transactions described herein. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including factors beyond the Company’s control. These forward-looking statements are made as of the date of this news release.
SOURCE East Side Games Group Inc.
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