Complexity ownership company reported 53% decline in losses for H1 2022

While Complexity have much to celebrate with their Counter-Strike team recently signing Håkon "hallzerk" Fjærli and a massive upset over Natus Vincere in the BLAST Premier Fall Groups to stop an 11-match losing streak, their parent company is celebrating an improved financial position in 2022.

Complexity parent company GameSquare Esports shared its financial performance for the first half of 2022 to investors in the early hours of August 29th. While Complexity remains the core focus of GameSquare Esports, it's important to remember that the company also owns a marketing agency, an esports talent agency, a media company, and a production studio, all of which are included in its financial reporting. Additionally, it also acquired esports-related assets in Reciprocity Gaming for approximately $11.4M in March of 2021.

GameSquare reported revenue of $11.7M for the first half of the year, which represents an increase of over 500% compared to revenue of $1.7M for the first half of 2021. Operating expenses over the same timeframe accounted for $11.2M, while the company reported expenses of $11.0M in the first two quarters of 2021. Primarily, losses for the company have declined 52.6% from $10.2M to $6.7M over the first half of the year, which is an incredible improvement considering the increases in operations.

The improvement in GameSquare's, and consequently Complexity's financial health is a good sign for the state of operations within the organization. Complexity, an ESL Louvre Agreement team and BLAST Partner, has recently moved away from its "Juggernaut" project and began anew with a North American-centric team. The team has struggled since the core was acquired from former New York-based organization Extra Salt, but the squad have been looking to improve with the start of the new season.