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EnthusiastGaming Enthusiast Gaming Reports Third Quarter 2021 Results Record revenue of $ 43.3 million , including direct sales of $ 6.8 million Record gross profit of $ 10.1 million Paid subscribers grew to an all - time high of 207,000 TORONTO , Nov. 10 , 2021 ( GLOBE NEWSWIRE ) Enthusiast Gaming Holdings Inc. ( NASDAQ : EGLX ; TSX : EGLX ) , ( " Enthusiast Gaming " or the " Company " ) , today announced financial results for the three and nine months ended September 30 , 2021. All amounts are stated in Canadian dollars unless otherwise indicated . Third Quarter 2021 Financial and Operating Highlights • Revenue of $ 43.3 million , a 165 % increase vs revenue of $ 16.3 million in Q3 2020 • Direct sales of $ 6.8 million , a 580 % increase vs direct sales of $ 1.0 million in Q3 2020 • Gross profit of $ 10.1 million , a 146 % increase vs gross profit of $ 4.1 million in Q3 2020 • Paid subscribers of 207,000 as at September 30 , 2021 , an 85 % increase vs paid subscribers of 112,000 as at September 30 , 2020 • Cash balance of $ 33.5 million as at September 30 , 2021 , as compared to $ 4.3 million as at December 31 , 2020 Completed acquisitions of GameKnot and Addicting Games • • Net cash used in operating activities of $ 3.8 million vs $ 3.7 million in Q3 2020 • Net and comprehensive loss of $ 12.3 million , or $ 0.10 per common share , vs $ 8.0 million and $ 0.10 , for Q3 2020 " This has been an outstanding quarter for Enthusiast Gaming across our key categories , " commented Adrian Montgomery , CEO of Enthusiast Gaming . " Ongoing momentum in direct sales , the acquisition of Addicting Games , and the renewal and addition of key partners continues to power revenue and gross profit numbers that demonstrate the strength of our strategy . Our team's ability to continue acquiring accretive properties , attract quality partners , and deliver the best fan experience through our flywheel of content , creators , and communities continues to deliver against and exceed expectations . " Certain information provided in this news release is extracted from the unaudited condensed consolidated interim financial statements ( the " Financial Statements " ) and Management's Discussion & Analysis ( " MD & A " ) of the Company for the three and nine months ended September 30 , 2021 and should be read in conjunction with them . It is only in the context of the 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 . Earnings Announcement and Supplemental Information Management will host a conference call and webcast on November 10 , 2021 , at 5:00 p.m. ET to review and discuss the third quarter 2021 results . Conference call dial - in details : North America ( toll - free ) : +1 844-826-3035 International : +1 412-317-5195 Conference ID : 10161588 A live webcast can be accessed at https://www.enthusiastgaming.com/investors/ If you are unable to join live , an archived recording of the webcast will be available on the investor relations section of the Enthusiast Gaming website . About Enthusiast Gaming Enthusiast Gaming is building the largest media platform for video game and esports fans to connect and engage worldwide . Combining the elements of its four core pillars ; Media , Talent , Esports and Experiences , Enthusiast Gaming provides a unique opportunity and integrated approach to reach and connect with its coveted GenZ and Millennial audience . Through its proprietary mix of digital media and entertainment assets , Enthusiast Gaming has built a vast network of like - minded communities to deliver the ultimate fan experience . Contacts Enthusiast Gaming Investor Relations : Eric Bernofsky , Chief Corporate Officer investor@enthusiastgaming.com Media Relations : Ashley Stanhope , Provident Communications ashley@providentcomms.com 416-303-1498