GameSquare Holdings, Inc. (GAME)

Nasdaq: GAME · Services-Amusement & Recreation Services · Frisco, TX · filing with the SEC since 2017

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Grade3.6

◀ Past 1.8● Present 3.3▶ Future 5.6

2 est.

Overview Business Financials Grade Forecast Sentiment Ownership People Filings Patents Chart

The grade of GameSquare Holdings, Inc.

Nine metrics read from its own filings, by tense

Headline grade

3.6/10

◀ Past1.830% of the headline

● Present3.340% of the headline

▶ Future5.630% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 7 read as filed from the record and 2 are SI estimates, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

1.8/1030% of the headline grade · 2 of 3 filed, 1 estimated

Surviving crises

as filed

0.6/10

Has it survived what it has been through?

11 warning events since 2017; the latest 2026-03-31.

weight 33% of this tense · 6th percentile among 24 sector filers · read for itself

From the record

GameSquare Holdings, Inc.'s filings since 2017 show 11 warning events of 3 kinds: a debt default or acceleration notice (8-K item 2.04, the latest 2024-07-08); a notice about its exchange listing (8-K item 3.01, 5 times, the latest 2026-03-11); a late-report notice (Form NT 10-K or NT 10-Q, 5 times, the latest 2026-03-31) (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed

3.1/10

What has it actually done, year after year?

+17% a year over 4 filed years; profitable in 0 of 4.

weight 45% of this tense · 32nd percentile among 21 sector filers · read for its customers

From the record

GameSquare Holdings, Inc.'s 4 filed years say what it did: revenue went from $28 million in fiscal 2022 to $45 million in fiscal 2025, up 17% a year; it rose in 2 of 3 years; the deepest fall was 33% from fiscal 2023 to fiscal 2024; net income was positive in 0 of 4 of those years (its annual reports).

What it rests on

revenue growth over the filed span17.0%top 50% of its family
the share of years revenue rosebottom 33% of its family
the share of filed years with a profitbottom 12% of its family
the deepest fall from a revenue peak33.3%bottom 31% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

SI estimate

0.8/10

How has it treated the people who own it?

SI estimate 0.8/10, confidence 35 of 100 (one part).

weight 22% of this tense · 8th percentile among 20 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: Read from one part only, the share count over the years, which ranks in the bottom 8% of 20 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
What the record cannot read: Fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
How it was reasoned: one part: the share count over the years, the one part on file, ranked among 20 in its family.
Confidence: 35 of 100
What would change it: A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: GameSquare Holdings, Inc.'s shareholder treatment is put at 0.8 of 10 with a confidence of 35 of 100, because read from one part only, the share count over the years, which ranks in the bottom 8% of 20 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income. A filing that carries the missing parts replaces this estimate with the filed reading.

● Present

What are they doing right now?

3.3/1040% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed

3.7/10

Is it financially healthy right now?

ROE -112%: lost 112¢ per shareholder dollar. Leverage 55%: owes 55¢ per asset dollar.

weight 33% of this tense · 37th percentile among 24 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, GameSquare Holdings, Inc. lost about 112 cents for every dollar of shareholders' money, and gross profitability: its products earned about 25 cents per dollar of everything the company owns. Leverage: it owed about 55 cents per dollar of assets, and net share issuance: its share count grew 135.6% over the year (the filed statements).

What it rests on

what it owes per dollar of assetstop 35% of its family
return on equitybottom 13% of its family
gross profit against assetstop 42% of its family
the share count against the year beforebottom 14% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed

4.0/10

How strong is its position in its industry?

bottom 40% of 24 in its family; net margin -89.1%.

weight 45% of this tense · 40th percentile among 24 sector filers · read for its customers

From the record

GameSquare Holdings, Inc.'s standing among 24 graded names in its industry family: revenue of $45 million in fiscal 2025 ranks in the bottom 36% by size; a net margin of -89.1% ranks in the bottom 27%; revenue growth of 17% a year over the last 3 filed years ranks in the top 44% (its annual reports).

What it rests on

revenue against the family$45.0Mbottom 36% of its family
net margin-89.1%bottom 27% of its family
three-year revenue growth17.0%top 44% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

SI estimate

1.5/10

What are the people in charge doing?

SI estimate 1.5/10, confidence 35 of 100 (one part).

weight 22% of this tense · 15th percentile among 17 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: Read from one part only, officer and director changes on Form 8-K over three years, against the people in charge, which ranks in the bottom 15% of 17 in its family; the record of its people begins on 2024-01-05 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 2.9 years and cannot see past it; a floor under five years is not read as years in charge.
What the record cannot read: The record of its people begins on 2024-01-05 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 2.9 years and cannot see past it; a floor under five years is not read as years in charge.
How it was reasoned: one part: officer and director changes on Form 8-K, against the people in charge, the one part on file, ranked among 17 in its family.
Confidence: 35 of 100
What would change it: A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: GameSquare Holdings, Inc.'s leadership is put at 1.5 of 10 with a confidence of 35 of 100, because read from one part only, officer and director changes on Form 8-K over three years, against the people in charge, which ranks in the bottom 15% of 17 in its family; the record of its people begins on 2024-01-05 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 2.9 years and cannot see past it; a floor under five years is not read as years in charge. A filing that carries the missing parts replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

5.6/1030% of the headline grade · 3 of 3 filed

Room to expand

as filed

4.4/10

How much room does it have to grow?

bottom 44% of 23 in its family for room to expand.

weight 22% of this tense · 44th percentile among 23 sector filers · read for itself

From the record

GameSquare Holdings, Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $6 million against no long-term debt tagged leaves 8% of its assets as net cash, top 30% of its family; cash from operations less capital spending is -41.1% of revenue (bottom 23%); a gross margin of 43.4% (top 42%); research spending of 4.6% of revenue (bottom 25%) (its annual report).

What it rests on

cash less debt against assets8.0%top 30% of its family
cash from operations less capital spending against revenue-41.1%bottom 23% of its family
gross margin43.4%top 42% of its family
research spending against revenue4.6%bottom 25% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed

5.0/10

What could actually drive growth from here?

top 50% of 21 in its family for growth drivers.

weight 45% of this tense · 50th percentile among 21 sector filers · read for its customers

From the record

GameSquare Holdings, Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew 17% a year over the last three filed years against 17% over all 4, speeding up (top 50% of its family); the newest year grew 63.4% (top 17%); research spending grew -18.2% a year (bottom 25%); capital spending grew 35.1% a year (bottom 43%) (its annual reports). GameSquare Holdings, Inc. tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.

What it rests on

three-year growth against the whole span+0.0 points a yeartop 50% of its family
the newest year's revenue growth63.4%top 17% of its family
three-year growth of research spending-18.2%bottom 25% of its family
three-year growth of capital spending35.1%bottom 43% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed

7.3/10

Did its newest year beat what its own record pointed to?

top 27% of 18 in its family for expectations against reality.

weight 33% of this tense · 73rd percentile among 18 sector filers · read for its shareholders

From the record

GameSquare Holdings, Inc.'s newest year against its own record: revenue of $45 million in fiscal 2025 came in 65% above the $27 million its prior three years' pace pointed to (top 8% of its family); net income of $40 million against a prior three-year average of $33 million (bottom 42%); a net margin of -89.1% against losses larger than its revenue before (top 14%) (its annual reports).

What it rests on

revenue against the prior three years' pace65.0%top 8% of its family
net income against the prior three years' average-23%bottom 42% of its family
net margin against its prior average+16.6 pointstop 14% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton GAME · research, not advice