Enthusiast Gaming Holdings Inc., a digital publisher operating tools, platforms, and experiences for gamers, has reported its financial results for the second quarter ended 30 June 2025, alongside a strategic update that includes the divestment of certain assets including Luminosity Gaming.

CEO Alex Macdonald highlighted that while direct sales and creative production, including Luminosity and related assets, had historically been significant, they are no longer in the company’s plans. “They are not part of our future. Exiting these areas allows us to direct all of our energy, talent, and reinvestment toward building and improving our owned and operated platforms,” Macdonald stated, noting that, along with the Omnia video platform, these segments were a primary source of losses in the quarter.

Financially, Enthusiast Gaming reported revenue of CAD 10.0 million (approximately $7,25 million) for Q2 2025, down from CAD 14.7 million (~$10,6 million) in the same period last year. The decline was largely attributed to decreases in direct sales and revenue from Omnia. Gross profit reached CAD 8.0 million (~$5,8 million), with a margin expansion to 80%, despite an adjusted EBITDA loss of CAD 1.4 million (~$1,02 million). The company recorded a net and comprehensive loss of CAD 39.8 million (~$28,86 million), which included non-cash impairment charges of CAD 45.3 million (~$32,84 million).

Macdonald reiterated the company’s focus on its core platforms, including U.GG, Icy-Veins, TheSimsResource, PocketGamer, Addicting Games, Fantasy Football Scout, ProBuildStats, and PoE-Vault. “This is the engine that will drive our growth, united under a single purpose: to serve gamers by building the best products in gaming,” he said.

The divestment of Luminosity Gaming aligns with Enthusiast Gaming’s strategic shift to a product-first model. Luminosity, once a prominent name in the esports ecosystem, played a significant role in shaping competitive gaming, particularly in North America. Established as a professional esports organisation, it fielded teams across major titles, including Counter-Strike: Global Offensive, in which it won a Major in 2016, and cultivated a strong fanbase. According to a Letter of Intent (LOI) disclosed in July, Luminosity might be sold to former Enthusiast CEO Adrian Montgomery for a proposed amount of $1 million. The deal, however, is not closed yet.

Enthusiast Gaming continues to focus on programmatic advertising, subscriptions, and events through its core digital properties, while completing the divestment of creative assets such as Luminosity. The company also confirmed it would not host a conference call for Q2 2025 results, citing ongoing strategic transitions, but plans to provide updates on shareholder communications as milestones are reached.

Editor’s Note: An earlier version of this news did not contain the information about the LOI with Adrian Montgomery. Info was added on 19 August.