GLOE announced its consolidated financial results for the second quarter (November to April) of the fiscal year ending October 2024. Despite lacking a direct comparison to the same period last year due to previous non-consolidated stand-alone financial statements, the company reported positive operating and ordinary profits.
Financial Highlights:
- Sales: 1.131 billion yen
- Operating profit: 5 million yen
- Ordinary profit: 3 million yen
- Net profit: 19 million yen deficit
Segment Performance:
Client Work Services: GLOE’s Client Work Services, which plans and manages e-sports events, experienced a surge in new projects. These projects extend beyond competitive tournaments to include events hosted by businesses for internal communication and corporate branding, as well as events organized by influencers.
Brand Production Service: The Brand Production Service, which creates new value for e-sports by leveraging IP brands related to games and e-sports, also saw significant growth. The company actively developed new services and cultivated new clients, resulting in increased tie-ups, sponsorship brokerage, and event casting. These initiatives maximized the value of partner professional gamers, commentators, and streamers for popular game titles.
Full-Year Earnings Forecast:
GLOE has maintained its full-year earnings forecast for the fiscal year ending October 2024, anticipating substantial growth:
- Sales: 2.6 billion yen (14.8% increase from the previous term)
- Operating profit: 150 million yen (954.7% increase from the previous term)
- Ordinary profit: 150 million yen (up from 1 million yen in the previous term)
- Net profit: 95 million yen (compared to a loss of 5 million yen in the previous term)
GLOE’s strategic expansion in e-sports event management and brand production services underscores its robust growth trajectory. By capitalizing on the rising popularity of e-sports and gaming, the company is well-positioned to achieve its ambitious financial targets for the year.
