FaZe Clan presented the first financial report after the merger with BRPM

The North American esports organization has submitted to the SEC its financial results for the second quarter ended June 30, 2022. This is the club's first financial statement since the recent merger with B. Riley Principal 150 Merger Corp (BRPM).

Lee Trink, CEO of FaZe Clan: "Now that we're past our public market entry, FaZe Clan is focused on monetizing across all four areas: sponsorship, content, merchandise and esports. In the second half of the year, we are gaining momentum in business and working on the launch of new business initiatives, especially in the areas of content creation and Web3."

A summary of the figures from the FaZe Clan report for the second quarter of 2022:

• Second quarter sales were $18.8 million, up 22% year-over-year and setting a new quarterly record.
• Listed on the Nasdaq under the ticker "FAZE", the merger generated $57.8 million in net revenue.
• The increase in revenue was primarily driven by the effective scaling and growth of the business through various sources of income, mainly sponsorships and esports.
• New partnerships announced with GHOST, Current and RESPAWN.
• Adjusted EBITDA loss (before interest, taxes, depreciation and amortization) was $4.1 million, better than adjusted EBITDA loss of $6.2 million for the same period last year.

The organization lists among its business accomplishments the success of its CS:GO team, which won IEM Cologne 2022, IEM Katowice 2022, ESL Pro League Season 15 and PGL Antwerp Major 2022. In addition, in July, the organization launched a new business vertical with a delivery platform of DoorDash food and partnered with TV show Solar Opposites to host a Fortnite tournament.