What is GameSquare Holdings's free cash flow?

GameSquare Holdings had negative free cash flow of $76.28M in fiscal 2025 (fiscal year ended Mar 31, 2026), operating cash flow of −$18.40M minus $57.88M of capital expenditures.

How much does GameSquare Holdings spend on capital expenditures?

GameSquare Holdings spent $57.88M on capital expenditures in fiscal 2025, compared with $5.12K a year earlier.

Does GameSquare Holdings pay dividends or buy back shares?

Yes. In fiscal 2025 GameSquare Holdings returned $1.78M in share buybacks to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment.

GameSquare Holdings (GAME) Cash Flow: Operating & Free Cash Flow

GameSquare Holdings Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for GameSquare Holdings, Inc. (GAME) - Annual data in millions USD
Breakdown	FY 2025	FY 2025	FY 2024	FY 2024	FY 2023	FY 2023	FY 2022	FY 2022	FY 2021	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Mar 2026	Dec 2025	Mar 2025	Dec 2024	Mar 2024	Dec 2023	Dec 2022	Aug 2022	Dec 2021	Aug 2021	Nov 2020	Aug 2019	Feb 2019	Aug 2017
Operating Activities
Net Income	-42.12	-42.12	-50.00	-54.31	-26.28	-31.28	-4.34	-18.11	-19.54	-24.48	-2.75	-13.84	-9.63	-10.06
Depreciation & Amortization	2.03	2.03	3.98	3.46	3.63	3.63	1.74	2.62	1.38	1.11	0.06	2.39	1.73	0.34
Deferred Income Tax	-0.04	-0.04	0.00	-	-0.06	-0.06	-0.32	-0.32	-	0.00	0.00	0.14	-0.86	-0.05
Stock Based Compensation	2.88	2.88	0.00	2.14	0.00	1.74	1.60	1.60	2.68	0.00	0.55	0.00	0.00	0.44
Change in Working Capital	-5.11	-5.11	-0.41	-0.41	3.14	3.14	0.61	0.63	-2.49	-8.43	0.32	1.18	2.96	-0.45
Change in Accounts Receivable	10.85	10.85	0.50	0.50	-0.88	-0.88	-0.28	-5.27	-	-3.98	1.70	-0.19	-0.77	-0.13
Change in Accounts Payable	-12.20	-12.20	-0.21	-0.21	4.49	4.49	2.76	5.65	-	-1.03	3.45	2.00	3.42	0.02
Change in Other Working Capital	-3.77	3.36	-0.70	0.13	-0.46	-0.40	3.60	0.25	-2.49	-3.42	0.32	-0.63	0.30	-0.33
Other Operating Activities	23.96	3.36	15.86	18.55	3.48	-0.40	-26.94	1.65	6.30	1.40	0.00	5.47	0.43	5.82
Net Cash from Operating Activities	-18.40	-18.40	-30.57	-30.57	-16.08	-16.08	-11.92	-11.92	-9.97	-30.40	-0.42	-4.66	-5.37	-3.95
Investing Activities
Capital Expenditures	-57.88	-57.88	-0.01	-0.01	0.00	0.00	-0.03	-0.03	-0.08	-0.19	-0.11	-0.03	-0.05	-0.93
Acquisitions	-5.21	-5.21	2.77	2.41	14.08	11.33	-	0.00	-1.13	0.28	-1.55	0.00	-8.03	-0.26
Purchases of Investments	0.00	-	0.00	-	0.00	-	-1.18	0.00	-	0.00	-1.16	-1.47	-0.24	-1.45
Sales/Maturities of Investments	0.00	-	0.00	-0.06	0.00	-	-	0.00	-	0.00	0.00	0.00	0.12	0.00
Other Investing Activities	-55.04	-	0.00	-	0.00	-	-	0.05	-0.01	0.00	0.00	0.00	0.00	-0.03
Net Cash from Investing Activities	-60.33	-60.33	2.71	2.71	14.07	14.07	0.02	0.02	-1.22	0.09	-1.55	-1.66	-8.20	-2.68
Financing Activities
Debt Repayment	-3.41	-8.12	7.60	-7.58	3.95	-0.75	-0.66	0.60	-0.69	1.74	7.81	8.92	-0.05	0.00
Common Stock Issued	77.85	77.85	9.87	9.87	0.00	-	6.30	6.30	17.15	38.07	2.31	0.00	12.51	8.18
Common Stock Repurchased	-1.78	-1.78	0.00	-	0.00	-	-	0.00	-	0.00	0.00	0.00	0.00	0.00
Other Financing Activities	0.00	0.71	20.50	20.65	0.00	-	-0.06	-0.06	0.00	-0.23	-0.08	-0.38	0.13	0.00
Net Cash from Financing Activities	72.66	72.66	37.97	37.97	3.95	3.95	6.84	6.84	16.47	39.58	2.23	8.54	12.58	8.18
Summary
Effect of Forex Changes on Cash	-0.71	-0.71	0.05	0.05	-7.61	0.07	0.50	0.02	-	0.73	-0.15	0.00	0.00	0.05
Net Change in Cash	-6.77	-6.77	10.16	10.16	-5.66	2.02	-5.05	-5.05	5.09	10.01	0.26	2.22	-0.99	1.60
Cash at Beginning of Period	13.15	13.15	2.99	2.99	8.65	0.98	6.03	6.03	-	5.63	2.83	0.61	1.60	0.00
Cash at End of Period	6.37	6.37	13.15	13.15	2.99	2.99	0.98	0.98	-	15.64	5.63	2.83	0.61	1.60
Free Cash Flow	-76.28	-76.28	-30.58	-30.58	-16.08	-16.08	-11.96	-11.96	-10.05	-30.58	-0.42	-4.70	-5.42	-4.88
Supplemental Disclosures
Interest Paid	-	-	-	1.28	-	0.56	0.01	-	0.01	-	-	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

GameSquare Holdings (GAME) Cash Flow Statement

GameSquare Holdings Cash Flow Statement Analysis

Frequently Asked Questions About GameSquare Holdings Cash Flow