{"id":134457,"date":"2023-01-31T11:08:23","date_gmt":"2023-01-31T11:08:23","guid":{"rendered":"https:\/\/esportsinsider.com\/?p=134457"},"modified":"2023-01-31T11:22:17","modified_gmt":"2023-01-31T11:22:17","slug":"guild-esports-2022-loss","status":"publish","type":"post","link":"https:\/\/esportsinsider.com\/2023\/01\/guild-esports-2022-loss","title":{"rendered":"Guild Esports records \u00a38.75m loss for 2022; optimistic for 2023"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"614\" src=\"https:\/\/esportsinsider.com\/wp-content\/uploads\/2022\/08\/Guild-png-large.png\" alt=\"\" class=\"wp-image-126885\" srcset=\"https:\/\/esportsinsider.com\/wp-content\/uploads\/2022\/08\/Guild-png-large.png 1024w, https:\/\/esportsinsider.com\/wp-content\/uploads\/2022\/08\/Guild-png-medium.png 300w, https:\/\/esportsinsider.com\/wp-content\/uploads\/2022\/08\/Guild-png-medium_large.png 768w, https:\/\/esportsinsider.com\/wp-content\/uploads\/2022\/08\/Guild-png.png 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n<div id=\"esi-paragraph-67d927675c2b2\" class=\"esi-paragraph \">\n    \n<p>UK-based esports organisation Guild Esports has revealed financial details for 2022 via its latest annual report.<\/p>\n\n  <\/div>\n\n\n<div id=\"esi-paragraph-67d927675c91a\" class=\"esi-paragraph \">\n    \n<p>For the year ending on September 30, 2022, the company, listed on the London Stock Exchange, saw a total loss of \u00a38.75m, as well as increases in revenue and sponsorship deals. <\/p>\n\n  <\/div>\n\n\n<div class=\"keep-reading \"  id=\"kr-67d927675e1e2\">\n  <div class=\"heading\">Keep Reading<\/div>\n  <ul class=\"d-flex flex-column\">\n          <li id=\"post-131554\" style=\"order: 1;\"><a href=\"https:\/\/esportsinsider.com\/2022\/11\/guild-esports-board-changes-ceo-kal-hourd\" target=\"_blank\">Guild Esports CEO Kal Hourd steps down, Jasmine Skee appointed new CEO<\/a><\/li>\n          <li id=\"post-133537\" style=\"order: 2;\"><a href=\"https:\/\/esportsinsider.com\/2023\/01\/guild-esports-new-hires-2023\" target=\"_blank\">Guild appoints three new executives to events, creative and esports divisions<\/a><\/li>\n          <li id=\"post-130681\" style=\"order: 3;\"><a href=\"https:\/\/esportsinsider.com\/2022\/11\/guild-esports-launches-esports-college\" target=\"_blank\">Guild Esports launches esports college<\/a><\/li>\n      <\/ul>\n<\/div>\n\n\n<div id=\"esi-paragraph-67d927675ef60\" class=\"esi-paragraph \">\n    \n<p>The overall loss is marginally smaller than in 2021 when Guild reported a loss of \u00a38.82m. The overall annual revenue also increased to \u00a34.5m compared to \u00a31.9m in 2021. The main source of revenue was sponsorship, which increased from \u00a31.2m in 2021 to \u00a33.2m in 2022. The company also ended 2022 with reduced cash reserves. A total of \u00a32.73m cash and cash equivalents were available in September 2022, compared to \u00a310.7m in 2021. Guild has \u00a31.6m remaining as of January 2023. <\/p>\n\n  <\/div>\n\n\n<div id=\"esi-paragraph-67d927675f542\" class=\"esi-paragraph \">\n    \n<p>The overall cash burn is expected to fall due to &#8220;a \u00a32.5m reduction in operating costs implemented at the end of the 2022 financial year.&#8221; In June 2022, Guild Esports <a href=\"https:\/\/esportsinsider.com\/2022\/06\/guild-esports-records-4-96m-loss-significantly-reduces-staff-numbers\" target=\"_blank\" rel=\"noreferrer noopener\">reduced the number of its staff from around 45 to 30.<\/a><\/p>\n\n  <\/div>\n\n\n<div id=\"esi-paragraph-67d927675faee\" class=\"esi-paragraph \">\n    \n<p>The financial results might be better than some expected, given the <a href=\"https:\/\/esportsinsider.com\/2022\/06\/guild-esports-records-4-96m-loss-significantly-reduces-staff-numbers\" target=\"_blank\" rel=\"noreferrer noopener\">previous <\/a>news from Guild Esports. The company shared that it is &#8220;on track to deliver significant revenue growth in the current year.&#8221; <\/p>\n\n  <\/div>\n\n\n<div id=\"esi-paragraph-67d927676006d\" class=\"esi-paragraph \">\n    \n<p><strong>Jasmine Skee, Guild Esports CEO,<\/strong> said: &#8220;The new year has started well with a lower cost base, a strengthened Board and senior management teams, as well as a focus on expanding our revenue streams and audience, all of which place Guild in an excellent position to continue its positive momentum. We, therefore, look to the future with confidence.&#8221;<\/p>\n\n  <\/div>\n\n\n<div id=\"esi-paragraph-67d927676061a\" class=\"esi-paragraph \">\n    \n<p>The company saw a number of changes in leadership in 2022, with its <a href=\"https:\/\/esportsinsider.com\/2022\/11\/guild-esports-board-changes-ceo-kal-hourd\" target=\"_blank\" rel=\"noreferrer noopener\">CEO Kal Hourd stepping down and Jasmine Skee becoming its new CEO<\/a>. Early in the year, we also saw<a href=\"https:\/\/esportsinsider.com\/2022\/03\/guild-esports-leadership-changes\" target=\"_blank\" rel=\"noreferrer noopener\"> three non-executive Directors of Guild Esports step down<\/a>, as well as its Executive Finance Director <a href=\"https:\/\/esportsinsider.com\/2022\/03\/guild-esports-leadership-changes\" target=\"_blank\" rel=\"noreferrer noopener\">James Savage<\/a>.<\/p>\n\n  <\/div>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"512\" src=\"https:\/\/esportsinsider.com\/wp-content\/uploads\/2022\/12\/ESINextGen-639349c33c7fa-large.png\" alt=\"ESI Next Gen\" class=\"wp-image-132619\" srcset=\"https:\/\/esportsinsider.com\/wp-content\/uploads\/2022\/12\/ESINextGen-639349c33c7fa-large.png 1024w, https:\/\/esportsinsider.com\/wp-content\/uploads\/2022\/12\/ESINextGen-639349c33c7fa-medium.png 300w, https:\/\/esportsinsider.com\/wp-content\/uploads\/2022\/12\/ESINextGen-639349c33c7fa-medium_large.png 768w, https:\/\/esportsinsider.com\/wp-content\/uploads\/2022\/12\/ESINextGen-639349c33c7fa-1536x768.png 1536w, https:\/\/esportsinsider.com\/wp-content\/uploads\/2022\/12\/ESINextGen-639349c33c7fa.png 1920w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Esports Insider has teamed up with the University of Warwick for ESI Next Gen. To find out more, click here.<\/figcaption><\/figure>\n\n\n<div id=\"esi-paragraph-67d9276760caf\" class=\"esi-paragraph \">\n    \n<p>All was not bad for Guild, though. The company doubled down on partnerships, striking an important one <a href=\"https:\/\/esportsinsider.com\/2022\/09\/guild-esports-strikes-major-multi-faceted-sky-uk-partnership\" target=\"_blank\" rel=\"noreferrer noopener\">with Sky UK<\/a>, renewing its Samsung partnership, and connecting with Hyperice and Coca-Cola. Guild Esports also <a href=\"https:\/\/esportsinsider.com\/2022\/11\/guild-esports-launches-esports-college\" target=\"_blank\" rel=\"noreferrer noopener\">founded an esports college<\/a> and saw three new executives join the company in early 2023. <\/p>\n\n  <\/div>\n\n\n<div id=\"esi-paragraph-67d9276761268\" class=\"esi-paragraph \">\n    \n<p>The company also <a href=\"https:\/\/esportsinsider.com\/2022\/09\/guild-esports-renegotiates-david-beckham-footwork-productions-agreement\" target=\"_blank\" rel=\"noreferrer noopener\">renegotiated its agreement with its minority owner and brand ambassador, former footballer and Inter Miami owner David Beckham<\/a>. This renegotiation benefited Guild, as the company was no longer obligated to pay a minimum sum of \u00a315.25m to Beckham&#8217;s company Footwork Productions. Guild reduced the total minimum payment obligation by \u00a37.5m. <\/p>\n\n  <\/div>\n\n\n\n\n\n\n","protected":false},"excerpt":{"rendered":"<p>UK-based esports organisation Guild Esports has revealed financial details for 2022 via its latest annual report. For the year ending on September 30, 2022, the company, listed on the London Stock Exchange, saw a total loss of \u00a38.75m, as well as increases in revenue and sponsorship deals. The overall loss is marginally smaller than in &hellip; <a href=\"https:\/\/esportsinsider.com\/2023\/01\/guild-esports-2022-loss\">Continued<\/a><\/p>\n","protected":false},"author":85,"featured_media":126885,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_lmt_disableupdate":"","_lmt_disable":"","esi_template":"default","excluded":false,"footnotes":""},"categories":[15024,106,238],"tags":[9074],"class_list":["post-134457","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial","category-latest-news","category-uk","tag-guild-esports"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.1 (Yoast SEO v24.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>UK organisation Guild Esports records \u00a38.75m loss for 2022<\/title>\n<meta name=\"description\" content=\"Guild Esports has announced a \u00a38.75m loss for 2022, but the company also shared increased revenue and reduced cash burn for 2023.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/esportsinsider.com\/2023\/01\/guild-esports-2022-loss\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Guild Esports records \u00a38.75m loss for 2022; 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