The company has also worked to grow its subscription offering, although it also shrunk year over year in the third quarter, down 2%.
The financial challenges facing Enthusiast Gaming have led to a series of strategic pivots.
In October, the company voluntarily delisted itself from the Nasdaq, a move expected to produce an annual cost savings of $2 million, according to the company. It will still trade on the Toronto Stock Exchange.
Enthusiast Gaming has also implemented a series of new executive appointments. Its president, Bill Karamouzis, left the company in September, and the company also parted ways with its chief financial officer, Alex Macdonald.
Last month, it hired Felicia DellaFortuna as its new CFO. DellaFortuna joins the company following an eight-year tenure at BuzzFeed Inc., which is currently at risk of being delisted from the Nasdaq.
