The Toronto-based gaming company posted third-quarter revenue of $50.6 million, but its net loss tripled year over year. Enthusiast also said its board committee tasked with searching for a new CEO has retained a U.S. recruitment firm as its five-month-long quest for a new leader continues. (The Logic)
Skip to content
The Toronto-based gaming company posted third-quarter revenue of $50.6 million, but its net loss tripled year over year. Enthusiast also said its board committee tasked with searching for a new CEO has retained a U.S. recruitment firm as its five-month-long quest for a new leader continues. (The Logic)
Talking point: Enthusiast reported a net loss of $37.1 million compared to $12.4 million in the same quarter last year. The company announced a management reorganization in August after its largest shareholder and a group of executives called for CEO Adrian Montgomery’s removal citing concerns about Enthusiast’s direction. The firm has been looking for his replacement since July. “The search for a new CEO continues and remains a top priority,” Montgomery told investors in an earnings call Monday. “We have an excellent list of candidates and we’re confident that we’ll have a new CEO shortly.” Enthusiast shares closed down more than five per cent Tuesday on the Toronto Stock Exchange.
Loading...
Thanks for sharing!
You have shared 5 articles this month and reached the maximum amount of shares available.
CloseThis account has reached its share limit.
If you would like to purchase a sharing license please contact The Logic support at [email protected].
CloseGift the full article!
You have gifted 0 article(s) this month and have 5 remaining.
Recipients will be able to read the full text of the article after submitting their email address. They will not have access to other articles or subscriber benefits.
Most Popular This Week
In-depth, agenda-setting reporting
Great journalism delivered straight to your inbox.
Commentary
Carmichael: Canada’s wartime economic triumph can teach us something today
Briefing
Nokia to spin out space communications business through Canadian SPAC deal
Ontario police aren’t reporting spyware use, senior privacy official warns
Magna founder Stronach found guilty of indecent and sexual assault
Best business newsletter in Canada
Get up to speed in minutes with insights and analysis on the most important stories of the day, every weekday.
Exclusive events
See the bigger picture with reporters and industry experts in subscriber-exclusive events.
Membership in The Logic Council
Membership provides access to our popular Slack channel, participation in subscriber surveys and invitations to exclusive events with our journalists and special guests.
