London-based esports business Gfinity has posted a ‘significant reduction’ in adjusted operating loss during its past financial year.
It made a loss of £2.7m in the year ending June 30th 2021, down 50% from the £5.5m loss in the year prior.
Revenues rose 27% to £5.7m during the period. Of this, revenue specifically relating to Gfinity’s owned and co-owned content increased by 768% to £2.3m, up from £0.3m year-on-year.
This £2.3m figure includes £1.6m in revenues related t o Gfinity’s Digital Media Network, including editorial online publications, and £0.7m related to jointly owned esports properties, including the Global Racing Series in conjunction with Abu Dhabi Motorsports Management.