Enthusiast Gaming Holdings Inc (TSE:EGLX) has released an update.
Enthusiast Gaming Holdings Inc. has reported a significant improvement in its financial performance for Q1 2024, achieving the lowest ever adjusted EBITDA loss, which marks a clear path towards profitability. Despite a decrease in revenue and gross profit compared to Q1 2023, the company has expanded gross margins and reduced operating expenses through cost-saving measures and strategic divestments. Enthusiast Gaming has also strengthened its balance sheet and increased user engagement across its platforms, indicating potential for future growth.
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