North American esports organisation Sentinels has revealed its 2025 financial results, showing higher revenue and smaller losses compared to previous years as the esports organisation continues trying to build a sustainable business.
According to unaudited financial statements, Sentinels reported $6.44m in revenue for 2025, up from $5.79m in 2024 and $2.93m in 2023. The company also reduced its annual net loss to $4.28m in 2025. In comparison, Sentinels lost $6.08m in 2024 and $8.4m in 2023.
Cash reserves also fell during the year. Sentinels reported having around $209k in cash at the end of 2025, compared to roughly $686k at the end of 2024.
The financial statements also show the organisation continues to rely heavily on outside funding. Sentinels ended 2025 with nearly $12.94m in liabilities, up from $8.47m the year before. Much of the debt comes from financing agreements tied to JAG Future Ventures LLC, one of the organisation’s shareholders.
In the filing, the company said it still faces “going concern” risks, meaning it will need to continue increasing revenue, reducing costs, or raising more money to support operations in the future.
The filing offers one of the clearest looks yet into the finances of a top-tier esports organisation during a period where many teams have exited titles or shut down entirely.
When it comes to previous funding rounds, Sentinels has leaned on both its fans and investors to help raise capital.
Back in mid-2023, Sentinels launched an equity crowdfunding campaign on StartEngine that valued the company at just over $30m, which was seen as a more realistic figure compared to the inflated valuations many esports organisations were claiming at the time. Fans could invest from as little as $300, with the raise capped at $1.235m in exchange for a small equity stake and merchandise perks.
A few months later, in October 2023, Sentinels’ ownership group, P1 Esports LLC, JAG Futureu Ventures LLC and the Jerry A Greenburg Trust, injected $3.4m into the company to help fund ongoing operations and support expansion into new esports projects.
Outside of competition, Sentinels has also been steadily building its presence through brand and entertainment partnerships. Around two months ago, the organisation announced a marketing partnership with SanDisk, adding another major consumer brand to its sponsor lineup. Last year, Sentinels also teamed up with Crunchyroll for its first anime collaboration, releasing a Haikyu!!-inspired clothing collection based on the popular sports anime series.
Follow The Esports Radar on social media:
