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Enthusiast Gaming Q4 Net Loss Narrows

-- Enthusiast Gaming Holdings (EGLX.TO) on Tuesday reported a narrowed net loss in the fourth quarter of fiscal year 2025.

For the three months ended Dec. 31, 2025, the company reported net loss of $6.0 million or net loss per basic and diluted share of $0.04, compared with $83.6 million or $0.54 loss per share, a year-ago, primarily due to the decrease in Q4 2025 goodwill and intangible asset impairment charges of $81.9 million.

Revenue decreased to $8.9 million in the quarter compared with $10.6 million in Q4 2024, with the majority of the decline being attributable to a reduction in the number of low-margin third-party network websites represented by the company for web programmatic inventory as a result of its decision to focus on developing its owned and operated websites.

"We delivered record Adjusted EBITDA of $2.4 million in the quarter, the highest in company history by a wide margin, alongside an Adjusted EBITDA margin of approximately 27%," said Enthusiast Gaming Chief Executive Alex Macdonald. "Importantly, this level of profitability was achieved while directing a significant portion of our spend toward R&D and future growth, underscoring the quality of the earnings we delivered."

"These results were also achieved despite a muted advertising backdrop and were accompanied by gains in working capital and cash," Macdonald added.

The company also announced that Sara Slane tendered her resignation from its board of directors.

Shares of the company closed up 16% to $0.035 on Monday on the Toronto Stock Exchange.

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