GLOE Inc. reported an operating profit in its first quarter despite increased expenses for new business development and office relocation costs, showing signs of improvement in its core operations.
The Tokyo-based esports company posted sales of 653 million yen ($5.8 million) for the November-January period, a 9.3% increase from a year earlier. Operating profit reached 1 million yen, reversing a 4 million yen loss in the same quarter last year.
While GLOE achieved a 1 million yen ordinary profit compared to a 6 million yen loss previously, the company still recorded a net loss of 3 million yen, though this marks a significant improvement from the 22 million yen loss in the year-earlier period.
The company’s esports event services segment saw growth beyond traditional competitive gaming tournaments, securing diverse contracts for both online and offline events, including those hosted by social media influencers.
GLOE’s agency services division, focused on influencer marketing, is working to expand its business scope by developing new marketing products utilizing gaming and esports platforms.
The company maintained its full-year forecast, projecting sales of 2.55 billion yen, with anticipated operating and ordinary losses of 45 million yen each, and a net loss of 35 million yen.
