GameStop has revealed in its latest earnings written report for Q3 2022 that it has lost over $100 million in the last 3 months.

Every bit reported by GameSpot, the gaming retailer's total revenue for the quarter was $one.297 billion, a significant increment from $1.005 billion during the same time period terminal twelvemonth thanks to contributions from new partners Samsung, Vizio, LG, Razer, and other tech companies. However, information technology reported a net loss of approximately $105.iv million, compared to $18.8 million in losses last year.

GameStop ended the financial period with cash and cash equivalents of $ane.413 billion, nonetheless some other significant increase from the end of the same period terminal year. Oddly plenty, it also accrued no debt other than the $46.2 meg depression-involvement, unsecured term loan associated with the French government's response to the COVID-19 pandemic.

The gaming retail giant added that the inventory airtight at $1.141 billion, compared to $861 million last year, due to its accent on front-loading investments in inventory to meet client need and alleviate supply chain issues brought on by the pandemic. The company too noted that it has opened upward new offices in Seattle and Boston — two major engineering hubs in the United States — to encourage new talent residing in those markets to bring together the visitor.

The panthera leo'south share of GameStop's income in the terminal quarter came from hardware and accessories (i.e. consoles, controllers, and headsets), which raked in $669.9 meg, or 51.7% of its revenue. Meanwhile, software sales comprised $434.5 million, or 33.5% of its revenue.

Despite all the gains GameStop made, $105.iv meg is a huge loss, especially after Reddit investors increased its stock in a state of war with Wall Street at the commencement of this twelvemonth. You can see the full version of the earnings report here.