Vertiqal Studios Reports Significant Q3 Revenue Growth and Cost Reductions

TORONTO, ON / ACCESSWIRE / November 14, 2023 / Gamelancer Media Corp. (rebranded as Vertiqal Studios Corp.) (TSX:VRTS)(OTCQB:GAMGF)(FRA:P93) (the "Company" or "Vertiqal") - Vertiqal Studios Corp. is pleased to announce its financial results for the third quarter of 2023. This year to date, the Company has exceeded management's expectations, achieving revenue growth of 97% compared to the nine months ended September 30 2022, with total revenues of $3,779,114 CDN year-to-date. For the three months ended September 30, 2023, the Company achieved a 23% revenue growth in comparison to Q3 2022.

Vertiqal Studios' vast social network of 66 digital channels now totals over 45 million followers, creating one of the largest active and growing digital audiences in the 4 English-speaking media markets, being the US, Canada, the UK, and Australia. 67% of Gamelancer's audience resides in the US.

Vertiqal Studios as a public entity is unique in that the company provides market participants exposure to the monetization of digital channel ownership on TikTok, Snapchat, and Instagram. Gamelancer owns one of the largest communities on TikTok globally and is a strategic partner of TikTok, participating in numerous TikTok revenue-share pilot programs.

Vertiqal Studio's has experienced significant year-over-year revenue growth, demonstrating its strong market position and successful business strategies. The company's Q3 revenues have surged by 23% compared to the same period last year.

The company has implemented effective cost management measures, resulting in a significant reduction in expenses. This reduction demonstrates the Company's commitment to efficiency and financial discipline.

To note, Q3 continues to see quarter over quarter revenue growth, specifically within the snapchat stream where the Company saw a 124% increase in snapchat revenue in comparison to Q3 2022. The Company also realized a decrease in total expenses by 41% for the quarter in comparison to Q3 2022. The Company's ability to achieve revenue growth while simultaneously reducing costs is a testament to its strong leadership, strategic decision-making, and commitment to delivering value to its shareholders.

Consolidated Statement of Loss and Comprehensive Loss		Three months ended September 30, 2023				Nine months ended September 30, 2023
Revenue		$	1,636,075			$	3,779,114
Gross Margin			878,441				2,039,009
Total Expenses			1,997,985				10,749,952
Loss before Income Taxes			(1,119,544	)			(8,710,943	)
Adjusted Normalized EBITDA1			(478,020	)			(2,517,679	)

In addition to revenue growth and expense reduction, the Company has made substantial progress in improving its EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization). The company's Q3 EBITDA has shown a notable improvement compared to the same period last year, reflecting enhanced profitability and operational efficiency.