Welcome to our dedicated page for Victory Square news (Ticker: VSQTF), a resource for investors and traders seeking the latest updates and insights on Victory Square stock.
Victory Square Technologies Inc. (VSQTF) generates frequent news as a venture builder with a diversified portfolio of early-stage technology companies. Company updates often combine financial results with detailed commentary on portfolio performance, particularly in digital health, artificial intelligence, Web3, gaming, climate tech, and pet wellness.
News releases commonly cover quarterly and annual financial results, including adjusted revenue, GAAP revenue, gross margin, and adjusted EBITDA, along with management’s discussion of portfolio momentum and capital allocation. Investors can read about developments such as revenue growth, profitability trends, and the impact of monetizing specific assets.
Another major theme in Victory Square’s news flow is portfolio company progress. Regular updates highlight Hydreight Technologies’ expansion as a digital health platform, the evolution of the VSDHOne infrastructure, Insu Therapeutics’ work on oral insulin delivery, Pawsible Ventures’ pet health initiatives, XR Immersive Tech’s move into health-related IP, and SafeTest’s digital health activities in Brazil. The company also reports on transactions involving holdings like BlockX and performance milestones at GameOn.
Corporate actions and strategic initiatives are also featured. Victory Square has announced a Normal Course Issuer Bid to repurchase shares, described a $10 million digital health and longevity accelerator, and provided NAV-focused corporate updates and investor webinar details. For investors tracking VSQTF, this news page offers a consolidated view of how Victory Square’s portfolio and strategy evolve over time, including financial metrics, sector-specific developments, and capital recycling decisions.
Victory Square Technologies Inc. (CSE:VST) (OTC:VSQTF) has announced that its portfolio company GameOn (CSE: GET) (OTCQB: GMETF) achieved record revenue of $1.85 million in Q1 2024, representing a 292% year-on-year increase. GameOn also reported a net income of $680,000, compared to a net loss of $390,000 in the same period last year.
Key highlights include:
- Partnership with Sportsology, receiving 59 million $GAME tokens
- Launch of the GameOn beta mobile app on Apple App Store and Google Play
- Record financial performance in 2023
GameOn CEO Matt Bailey emphasized the company's focus on driving fundamentals and delivering shareholder value, citing ongoing momentum from new league partnerships and the recent launch of $GAME on major exchanges.
Victory Square Technologies Inc. (CSE:VST) (OTC:VSQTF) announced that its portfolio company, XR Immersive Tech Inc. (CSE: VRAI), has entered into a $4.5 million licensing agreement with European company Deploy Reality. The agreement grants Deploy Reality rights to use XR Immersive Tech's location-based virtual reality (LBVR) platform for five years, starting July 1, 2024.
Key terms include an initial payment of $805,571.60 and monthly investments of $102,147 for R&D. Upon full payment, Deploy Reality will gain ownership of the SVR brand license. XR Immersive Tech's focus for H2 2024 includes expanding LBVR platform sales, developing AI applications, and enhancing VR/AR services in the enterprise sector.
Victory Square Technologies announced that its portfolio company, Hydreight Technologies, has partnered with a national laboratory to expand its at-home blood testing services across all 50 states by Q4 2024.
The expanded service will include tests for general wellness, nutrition, heart health, blood sugar, sexual health, thyroid, inflammation, and gut health.
Hydreight’s platform allows subscribers and nurses to administer tests at home, with results available through the app. The U.S. diagnostic testing market, valued at USD 84.85 billion in 2023, is expected to grow significantly, reaching USD 158.77 billion by 2033.
Victory Square's portfolio company, Hydreight, has shown significant growth in the home healthcare sector, reporting a 33% increase in Q1-2024 topline revenue, reaching $4.87 million. The company operates across all 50 US states, offering a mobile clinical network and at-home medical services. Hydreight has expanded its professional network to over 3,000 medical professionals and added 117 white-label locations nationwide. The company has also partnered with Ola Digital Health to provide health and wellness services in 300 independent retail pharmacies. Additionally, Hydreight launched VSDHOne for direct-to-consumer healthcare brands. The company plans to focus on profitability and further growth in 2024.
Victory Square's portfolio company, Hydreight Technologies, has secured a new partnership with a national wellness medspa franchise utilizing its white label solution. This partnership expands Hydreight's presence to nearly 700 locations across the U.S., with 140 already operational. Hydreight charges franchises fees for network access and takes a percentage from mobile services facilitated through its platform. The company's solutions include IV drip therapy, aesthetics, GLP-1, and NAD+ services, along with a pharmacy network. The U.S. medical spa market is valued at $6.1 billion as of 2023. Hydreight is also developing a Point of Sale and Payment processing module for release in Q3 2024.
Victory Square Technologies announced the launch of GameOn Live Fantasy, a next-gen fantasy sports platform, in time for the UEFA European Football Championship on June 14, 2024. Powered by the $GAME token, the platform aims to drive fan engagement through immersive experiences and a prize pool exceeding $200,000, including $GAME tokens, VIP experiences, signed merchandise, and game tickets. The $GAME token, recently launched on exchanges like KuCoin, Gate, and MEXC, will offer additional rewards to holders. GameOn plans a beta launch to collect feedback before a full launch for the upcoming LALIGA season in August, featuring player avatar packs and monthly raffles. The app will soon be available on the App Store and Google Play.
Victory Square Technologies (CSE:VST, OTC:VSQTF) has announced the launch of VSDHOne, a telemedicine platform developed by its subsidiary VS Digital Health, in collaboration with Hydreight Technologies and DSV Global. This platform allows companies to establish a direct-to-consumer healthcare brand across all 50 states quickly and affordably. VSDHOne is designed for a range of businesses, from MedSpas to pharmaceutical brands, offering services such as personalized healthcare treatments and eCommerce solutions. The platform supports a seamless integration with existing infrastructure, providing nationwide access to medical and pharmacy networks. This initiative aims to bridge the healthcare access gap, especially in underserved areas, and cater to the growing demand for virtual care.
Victory Square Technologies reported its Q1 2024 financial results with topline revenue of $5,052,069. Cash and liquid securities amounted to $4,410,203. The net loss for the quarter was attributed to fair value write-downs on portfolio investments and operating losses from subsidiaries. GAAP revenue for the quarter was $3,559,675, up from $2,851,471 in the previous period. Cost of goods sold increased to $2,146,272 from $1,370,139, resulting in a gross margin of $1,413,403 compared to $1,481,332 in the previous period.
Notable portfolio highlights include Hydreight's record revenue growth of 102% in 2023, GameOn's upcoming $GAME Token launch, and Covalent's 28% QoQ market cap rise. Other highlights are FansUnite's revenue and EBITDA growth, Turnium's financial performance, and CoPilot AI's expansion into Asia. The company also discussed advancements in digital health, AI, and climate tech sectors.
Victory Square Technologies announced that its portfolio company, GameOn, will launch the $GAME token on June 3. The $GAME token aims to enhance fan engagement and revenue for developers and sports leagues via fantasy sports platforms. The launch will be promoted by major sports leagues like LALIGA and PFL and influencers. GameOn receives support from web3 partners like Arbitrum and OpenSea. A series of events, including AMAs and live streams, will occur during '$GAME Week' to celebrate the launch. GameOn has received 59 million $GAME tokens and plans to utilize them for unified experiences across its ecosystem.
Victory Square Technologies announced that its portfolio company, Hydreight Technologies, has added Tirzepatide to its weight loss portfolio. Tirzepatide, an FDA-approved medication for type 2 diabetes, is also effective for weight loss and will be available through Hydreight's platform across 700 cities in the US. This addition complements their existing GLP-1 injections, including Semaglutide, which saw a 250% increase in orders between January and February 2024. Hydreight's growing network includes over 3,000 nurses and 107 white-label locations. In 2023, Hydreight reported a 102% revenue increase, reaching $17.05 million. This expansion aligns with the projected growth in the anti-obesity market, which could reach $100 billion by 2030.