Esports Entertainment Group has revised its previous revenue projection for 2022, suggesting it should land within the region of $70m to $75m.

The new projection takes into account a challenging fiscal Q2 for the company, a period which ended on 31 December 2021.

The company posted $14.5m in revenue for Q2, which represented growth of $12.2m compared to the same period last year. However, it also suffered significant EBITDA and cashflow losses due to factors the company has termed “largely outside of our control.”

While net revenue and gross profit figures were both up year-on-year – the latter growing $7.2m in 12 months to reach $8m – net loss equated to $34.5m, while adjusted EBITDA fell by $6.8m.