FaZe Holdings Inc.
brileyfin.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q3 FY2023 10-Q, filed Nov 14, 2023. Its latest SEC filing is a 4 from Mar 26, 2024.
10-Q for Q3 FY2023, filed Nov 14, 2023
The sections below describe the company as of the FY2022 annual report.
What Did They Do?
Produces gaming and lifestyle content, merchandise and consumer products, and advertising and sponsorship programs for fans and national brands.
10-K for FY2022, filed Apr 4, 2023FaZe Holdings Inc., a Delaware corporation incorporated on June 19, 2020, is a digital-native lifestyle platform building a global creator…View ↗
The FaZe platform provides brands and advertisers with the ability to reach and engage with our young and engaged audience base. We work…View ↗
We leverage our brand, talent and audience to drive consumer product sales across a variety of categories and distribution channels. We…View ↗
How Did They Make Money?
Brands pay periodically during sponsorship contracts; advertising income depends on views or clicks and is paid 30 to 45 days after month-end. Merchandise buyers pay at sale, while content licenses are paid when signed; FaZe also earns from esports tournament prizes and player transfers.
10-K for FY2022, filed Apr 4, 2023The Company offers advertisers a full range of promotional vehicles, including but not limited to online advertising, livestream…View ↗
The Company generates and produces original content which the Company monetizes through Google’s AdSense service. Revenue is variable and…View ↗
The Company earns consumer products revenue from sales of the Company’s consumer products on the Company’s website or at live or virtual…View ↗
The Company grants exclusive licenses to customers for certain content produced by the Company’s talent. The Company grants the customer a…View ↗
League Participation: Generally, The Company has one performance obligation—to participate in the overall Esport event—because the…View ↗
Player Transfer Fees: Player transfer agreements include a fixed fee and may include a variable fee component. The Company recognizes the…View ↗
$70M
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10-K for FY2022, filed Apr 5, 2023
$70M ↗
Who Were Their Customers?
Brands buy sponsorships through FaZe's sales team or directly with individual talent; fans buy merchandise through FaZe's website and at live or virtual events.
10-K for FY2022, filed Apr 4, 2023The primary brand sponsorship products that we offer to advertisers are brand deals and talent deals. Brand deals comprise the largest…View ↗
We leverage our brand, talent and audience to drive consumer product sales across a variety of categories and distribution channels. We…View ↗
The Company earns consumer products revenue from sales of the Company’s consumer products on the Company’s website or at live or virtual…View ↗
10-K for FY2022, filed Apr 4, 2023
Our talent agreements generally follow a standard form that provides: (i) for an initial term of two years, subject to month-to-month…View ↗
Did Revenues Turn Into Profits?
No. It lost $168.5M in FY2022.
10-K for FY2022, filed Apr 5, 2023
−$48.7MView ↗
10-K for FY2022, filed Apr 5, 2023
−$168.5MView ↗
10-K for FY2022, filed Apr 5, 2023
−$58.4MView ↗
How Were They Changing?
- Net income
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Sources
10-Q for Q3 FY2023, filed Nov 15, 2023
−$7.2MView ↗
- ▼ −94% (Loss)
- vs −$130.6M in Q3 FY2022
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Dec 22, 2023
FaZe and GameSquare extended the merger deadline
The deadline moved from December 31, 2023 to February 15, 2024.
Sources
8-K, filed Dec 22, 2023
On December 19, 2023, GameSquare, FaZe and Merger Sub entered into a First Amendment to Agreement and Plan of Merger (the “Amendment”)…View ↗
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Oct 20, 2023
GameSquare agreed to acquire FaZe
Under the agreement, FaZe would become a wholly owned GameSquare subsidiary.
Sources
8-K, filed Oct 20, 2023
On October 19, 2023, FaZe Holdings Inc. (“FaZe”), entered into an Agreement and Plan of Merger (the “Merger Agreement”), with GameSquare…View ↗
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Sep 11, 2023
FaZe replaced its CEO with an interim CEO
Lee Trink was terminated, and Christoph Pachler was appointed interim CEO.
Sources
8-K, filed Sep 11, 2023
On September 9, 2023, the Board of Directors (the “Board”) of FaZe Holdings Inc. (the “Company”) took action to terminate Lee Trink from…View ↗
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