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Commitments and Contingencies (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2023

Dec. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

Schedule of lease costs

Lease Costs

(In thousands)	Three months Ended March 31, 2023		Three months Ended March 31, 2022
Components of total lease costs:
Operating lease expense	$	397	$	407
Total lease costs	$	397	$	407

Lease Costs

(in thousands)	Year Ended December 31, 2022		Year Ended December 31, 2021
Components of total lease costs:
Operating lease expense	$	1,544	$	902
Total lease costs	$	1,544	$	902

Schedule of Lease Assets and Lease Liabilities

(In thousands)	March 31, 2023		December 31, 2022
Assets
Right of use asset – long term	$	2,319	$	2,693
Total right of use asset	$	2,319	$	2,693
Liabilities
Operating lease liabilities – short term	$	1,488	$	1,488
Operating lease liabilities – long term		718		1,084
Total lease liability	$	2,206	$	2,572

ROU lease assets and lease liabilities for our operating leases are recorded on the balance sheet as follows:

(in thousands)	December 31, 2022		December 31, 2021
Assets
Right of use asset – long term	$	2,693	$	—
Total right of use asset	$	2,693	$	—
Liabilities
Operating lease liabilities – short term	$	1,488	$	—
Operating lease liabilities – long term		1,084		—
Total lease liability	$	2,572	$	—

Schedule of Lease Terms and Discount Rate

Lease Terms and Discount Rate

Weighted average remaining lease term (in years) – operating leases		1.4
Weighted average discount rate – operating leases		4	%

Lease Terms and Discount Rate

Weighted average remaining lease term (in years) – operating leases		1.7
Weighted average discount rate – operating leases		4	%

Schedule of Future Minimum Lease Payment

Future minimum lease payments, which include non-cancelable operating leases at March 31, 2023, are as follows:

Year ending March 31,	(In thousands)
2023 (remainder)	$	1,184
2024		1,087
2025		5
2026		3
Thereafter		—
Total minimum lease payment	$	2,279

Future minimum lease payments, which include non-cancelable operating leases at December 31, 2022, are as follows:

Years ending December 31,	(in thousands)
2023	$	1,577
2024		1,087
2025		5
2026		3
Thereafter		—
Total minimum lease payment	$	2,672

Private Placement Warrants and Recurring Fair Value Measurements (Details) - Schedule of Fair Value Hierarchy of the Valuation Techniques - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Private Placement Warrants and Recurring Fair Value Measurements (Details) - Schedule of Fair Value Hierarchy of the Valuation Techniques [Line Items]
Private Placement Warrants		$ 24
Total	$ 11	24
Private Placement Warrants [Member]
Private Placement Warrants and Recurring Fair Value Measurements (Details) - Schedule of Fair Value Hierarchy of the Valuation Techniques [Line Items]
Private Placement Warrants	11	24
Quoted Prices In Active Markets (Level 1) [Member]
Private Placement Warrants and Recurring Fair Value Measurements (Details) - Schedule of Fair Value Hierarchy of the Valuation Techniques [Line Items]
Private Placement Warrants
Total
Quoted Prices In Active Markets (Level 1) [Member] \| Private Placement Warrants [Member]
Private Placement Warrants and Recurring Fair Value Measurements (Details) - Schedule of Fair Value Hierarchy of the Valuation Techniques [Line Items]
Private Placement Warrants
Significant Other Observable Inputs (Level 2) [Member]
Private Placement Warrants and Recurring Fair Value Measurements (Details) - Schedule of Fair Value Hierarchy of the Valuation Techniques [Line Items]
Private Placement Warrants
Total
Significant Other Observable Inputs (Level 2) [Member] \| Private Placement Warrants [Member]
Private Placement Warrants and Recurring Fair Value Measurements (Details) - Schedule of Fair Value Hierarchy of the Valuation Techniques [Line Items]
Private Placement Warrants
Significant Other Observable Inputs (Level 3) [Member]
Private Placement Warrants and Recurring Fair Value Measurements (Details) - Schedule of Fair Value Hierarchy of the Valuation Techniques [Line Items]
Private Placement Warrants		24
Total	11	24
Significant Other Observable Inputs (Level 3) [Member] \| Private Placement Warrants [Member]
Private Placement Warrants and Recurring Fair Value Measurements (Details) - Schedule of Fair Value Hierarchy of the Valuation Techniques [Line Items]
Private Placement Warrants	$ 11	$ 24

Private Placement Warrants and Recurring Fair Value Measurements

3 Months Ended

12 Months Ended

Mar. 31, 2023

Dec. 31, 2022

Private Placement Warrants and Recurring Fair Value Measurements [Abstract]

PRIVATE PLACEMENT WARRANTS AND RECURRING FAIR VALUE MEASUREMENTS

6. PRIVATE PLACEMENT WARRANTS AND RECURRING FAIR VALUE MEASUREMENTS

Warrant Liability

Prior to the Business Combination, B. Riley 150 issued 173,333 Private Placement Warrants with an exercise price of $11.50 per share. The Private Placement Warrants are identical to the Public Warrants, as described in Note 7, Equity, except that the Private Placement Warrants (including the common stock underlying the Private Placement Warrants) were not transferable, assignable or salable until August 18, 2022, and they are not redeemable by the Company for cash so long as they are held by the sponsor or its permitted transferees. The sponsor, or its permitted transferees, has the option to exercise the Private Placement Warrants on a cashless basis. If the Private Placement Warrants are held by holders other than the sponsor or its permitted transferees, the Private Placement Warrants can be redeemable by the Company in all redemption scenarios and exercisable by the holders on the same basis as the Public Warrants. Upon the Closing of the Business Combination, the Company has determined that the Private Placement Warrants are classified as liabilities and marked to market at each reporting period.

A Black-Scholes model is used to value the Private Placement Warrants at each reporting period. The change in fair value of warrants is recognized as part of change in fair value of warrant liabilities in the Consolidated Statements of Operations. Inherent in a binomial options pricing model are assumptions related to expected share-price volatility, expected life, risk-free interest rate, discount rate and dividend yield. The Company estimates the volatility of its common stock based on a binomial lattice model using the stock price and the price of the Public Warrants as of the valuation date, risk-free interest rate, and the expected life of the warrants. The risk-free interest rate is based on the U.S. Treasury zero-coupon yield curve on the grant date for a maturity similar to the expected remaining life of the warrants. The expected life of the Private Placement Warrants is assumed to be equivalent to their remaining contractual term. The dividend rate is based on the historical rate, which the Company anticipates to remain at zero.

The key inputs into the Black-Scholes model in determining the fair value of the Private Placement Warrants were as follows at March 31, 2023 and December 31, 2022:

	March 31, 2023			December 31, 2022
Risk-free interest rate		3.7	%		4.0	%
Expected term (years)		4.3			4.5
Expected volatility		91.5	%		53.3	%
Exercise price	$	11.50		$	11.50
Dividend yield		0			0

The following table presents a summary of the changes in the fair value of the Private Placement Warrants liability since the Closing Date:

	(In thousands)
Warrant liabilities at July 19, 2022	$	114
Change in fair value of warrant liabilities		(90	)
Warrant liabilities at December 31, 2022		24
Change in fair value of warrant liabilities		(13	)
Warrant liabilities at March 31, 2023	$	11

The following table presents information about the Company’s assets and liabilities that were measured at fair value on a recurring basis as of March 31, 2023 and December 31, 2022, and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value.

	(In thousands)
	March 31, 2023		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Observable Inputs (Level 3)
Liabilities:
Private Placement Warrants	$	11	$	—	$	—	$	11
Total	$	11	$	—	$	—	$	11

	(In thousands)
	December 31, 2022		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Observable Inputs (Level 3)
Liabilities:
Private Placement Warrants	$	24	$	—	$	—	$	24
Total	$	24	$	—	$	—	$	24

7. PRIVATE PLACEMENT WARRANTS AND RECURRING FAIR VALUE MEASUREMENTS

Warrant Liability

Prior to the Business Combination, B. Riley 150 issued 173,333 Private Placement Warrants with an exercise price of $11.50 per share. The Private Placement Warrants are identical to the Public Warrants, as described in Note 9, Equity, except that the Private Placement Warrants (including the common stock underlying the Private Placement Warrants) were not transferable, assignable or salable until August 18, 2022 and they are not redeemable by the Company for cash so long as they are held by the sponsor or its permitted transferees. The sponsor, or its permitted transferees, has the option to exercise the Private Placement Warrants on a cashless basis. If the Private Placement Warrants are held by holders other than the sponsor or its permitted transferees, the Private Placement Warrants can be redeemable by the Company in all redemption scenarios and exercisable by the holders on the same basis as the Public Warrants. Upon the Closing of the Business Combination, the Company has determined that the Private Placement Warrants are classified as liabilities and marked to market at each reporting period.

A Black-Scholes model is used to value the Private Placement Warrants at each reporting period. The change in fair value of warrants is recognized as part of change in fair value of warrant liabilities in the Consolidated Statements of Operations. Inherent in a binomial options pricing model are assumptions related to expected share-price volatility, expected life, risk-free interest rate, discount rate and dividend yield. The Company estimates the volatility of its common stock based on a binomial lattice model using the stock price and the price of the Public Warrants as of the valuation date, risk-free interest rate, and the expected life of the warrants. The risk-free interest rate is based on the U.S. Treasury zero- coupon yield curve on the grant date for a maturity similar to the expected remaining life of the warrants. The expected life of the Private Placement Warrants is assumed to be equivalent to their remaining contractual term. The dividend rate is based on the historical rate, which the Company anticipates to remain at zero.

The key inputs into the Black-Scholes model in determining the fair value of the Private Placement Warrants were as follows at December 31, 2022 and December 31, 2021:

	December 31, 2022			December 31, 2021
Risk-free interest rate		4.0	%		1.3	%
Expected term (years)		4.5			5.5
Expected volatility		53.3	%		18.5	%
Exercise price	$	11.50		$	11.50
Dividend yield		0			0

The following table presents a summary of the changes in the fair value of the Private Placement Warrants liability since the Closing Date:

	(in thousands)
Warrant liabilities at July 19, 2022	$	114
Change in fair value of warrant liabilities		(90	)
Warrant liabilities at December 31, 2022	$	24

The following table presents information about the Company’s assets and liabilities that were measured at fair value on a recurring basis as of December 31, 2022, and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value. As of December 31, 2021, no assets and liabilities were measured at fair value on a recurring basis.

	(in thousands)
	December 31, 2022		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Observable Inputs (Level 3)
Liabilities:
Private Placement Warrants	$	24	$	—	$	—	$	24
Total	$	24	$	—	$	—	$	24

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Income Taxes (Details) - Schedule of Provision for Income Taxes - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Current
Federal	$ 0	$ 0
State	0	0
Foreign	0	0
Total Current	0	0
Deferred
US Federal	0	0
Total Deferred	0	0
US State	0	0
Foreign	0	0
Total Provision/(Benefit)	$ 0	$ 0

Commitments and Contingencies (Details) - Schedule of Lease Terms and Discount Rate	Mar. 31, 2023	Dec. 31, 2022
Schedule of Lease Terms and Discount Rate [Abstract]
Weighted average remaining lease term (in years) – operating leases	1 year 4 months 24 days	1 year 8 months 12 days
Weighted average discount rate – operating leases	4.00%	4.00%

Loss Per Share (Details) - Schedule of basic and diluted earnings per share (Parentheticals) - $ / shares	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Schedule of Basic and Diluted Earnings Per Share [Abstract]
Weighted-average common shares outstanding, diluted	64,071,686	20,640,022	39,872,308	19,187,873
Net loss per share, diluted	$ (0.22)	$ (0.46)	$ (4.23)	$ (1.92)

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (14,040)	$ (9,542)	$ (168,534)	$ (36,866)
Adjustments to reconcile net loss to net cash used in operating activities:
Bad debt expense			441	75
Provision for doubtful accounts	789	8
Additions to content asset		(313)	(599)	(474)
Depreciation & amortization expense	667	236	1,837	1,021
Amortization of operating lease right of use assets	373	329	1,338
Content asset impairments			1,073
Stock-based compensation expense	2,673	1,150	10,167	1,637
Change in fair value of warrant liabilities	(13)		(90)
Non-cash interest expense		1,851	4,493	5,467
Loss on debt extinguishment			115,292
Other		(37)	(37)	(73)
Change in operating assets and liabilities:
Accounts receivable	3,849	(774)	(2,698)	(4,174)
Inventory		6	6	53
Prepaid expenses and other assets	1,888	180	9,824	(481)
Contract assets	(1,017)	1,563	(2,105)	(2,770)
Accounts payable and accrued expenses	(5,143)	(698)	(18,997)	4,685
Contract liabilities	(998)	(3,333)	(4,408)	6,790
Other current liabilities		(7)	(7)	(70)
Operating lease liabilities	(366)	(329)	(1,279)
NET CASH USED IN OPERATING ACTIVITIES	(11,338)	(9,710)	(54,283)	(25,180)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property, plant and equipment	(101)	(1,903)	(4,148)	(730)
Purchase of intangible assets	(13)	(164)	(666)	(840)
Issuance of note receivable				(135)
NET CASH USED IN INVESTING ACTIVITIES	(114)	(2,067)	(4,814)	(1,705)
CASH FLOWS FROM FINANCING ACTIVITIES
Payments of loan principal			(21,123)	(385)
Proceeds from issuance of loans payable		10,000	20,000
Proceeds from exercise of stock options	783	64
Value of shares withheld for taxes	169
Taxes paid related to net shares settlement of equity awards	127
Payment of deferred transaction costs		(725)
Proceeds from issuance of convertible debt				40,675
Issuance of common stock in connection with exercise of stock options			220	36
Payments of transaction fees by Legacy FaZe			(25,146)
Proceeds from recapitalization of B. Riley 150, net of B. Riley 150 redemptions and transaction costs			5,654
Proceeds from PIPE offering			100,000
Proceeds from exercise of preferred and common warrants			101
Short-term debt			(420)
Payment of debt issuance costs				(254)
NET CASH PROVIDED BY FINANCING ACTIVITIES	1,079	9,339	79,286	40,072
NET CHANGE IN CASH AND RESTRICTED CASH	(10,373)	(2,438)	20,189	13,187
Cash and restricted cash at beginning of period	37,807	17,618	17,618	4,431
CASH AND RESTRICTED CASH AT END OF PERIOD	27,434	15,180	37,807	17,618
RECONCILIATION TO CONSOLIDATED BALANCE SHEETS
Cash	26,834	14,580	37,207	17,018
Restricted cash	600	600	600	600
Cash and restricted cash	27,434	15,180	37,807	17,618
SUPPLEMENTAL DISCLOSURE FOR OPERATING ACTIVITIES:
Cash paid for interest			3,027
SUPPLEMENTAL DISCLOSURE FOR NON-CASH INVESTING AND FINANCING ACTIVITIES:
Issuance of common stock in connection with litigation settlement			294	720
Capitalization of deferred transaction costs included in accounts payable		2,406		$ 4,899
Purchase of property, plant and equipment in accrued expenses		$ 1,019	28
Conversion of convertible notes and accrued interest into common stock under original contractual terms			195,177
Conversion of redeemable convertible preferred stock to common stock pursuant to Business Combination			33,705
Issuance of earnout shares			$ 1

Stock Compensation Expense (Details) - Schedule of Vested and Nonvested Stock - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Vested and Nonvested Stock Options [Member]
Stock Compensation Expense (Details) - Schedule of Vested and Nonvested Stock [Line Items]
Number, Outstanding Begining balance	18,863,654	19,912,281
Weighted Average Exercise Price, Outstanding Begining balance	$ 0.38	$ 0.38
Weighted Average Remaining Life, Begining balance	4 years 1 month 17 days	4 years 10 months 9 days
Number, Granted
Weighted Average Exercise Price, Granted
Weighted Average Remaining Life, Granted
Number, Exercised	(2,050,920)	(1,048,627)
Weighted Average Exercise Price, Exercised	$ 0.38	$ 0.38
Weighted Average Remaining Life, Exercised
Number, Expired or forfeited
Weighted Average Exercise Price, Expired or forfeited
Weighted Average Remaining Life, Expired or forfeited
Number, Outstanding Ending balance	16,812,734	18,863,654
Weighted Average Exercise Price, Outstanding Ending balance		$ 0.38
Weighted Average Remaining Life, Ending balance	3 years 10 months 17 days	4 years 1 month 17 days
Vested and Nonvested Stock Warrants [Member]
Stock Compensation Expense (Details) - Schedule of Vested and Nonvested Stock [Line Items]
Number, Outstanding Begining balance	5,923,333	6,575,284
Weighted Average Exercise Price, Outstanding Begining balance	$ 11.5	$ 10.41
Weighted Average Remaining Life, Begining balance	4 years 6 months 18 days	5 years 9 months 14 days
Number, Granted
Weighted Average Exercise Price, Granted
Weighted Average Remaining Life, Granted
Number, Exercised		(651,951)
Weighted Average Exercise Price, Exercised		$ 0.53
Weighted Average Remaining Life, Exercised
Number, Expired or forfeited
Weighted Average Exercise Price, Expired or forfeited
Weighted Average Remaining Life, Expired or forfeited
Number, Outstanding Ending balance	5,923,333	5,923,333
Weighted Average Exercise Price, Outstanding Ending balance		$ 11.5
Weighted Average Remaining Life, Ending balance	4 years 3 months 18 days	4 years 6 months 18 days

Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
Intangible Assets (Details) - USD ($) $ in Millions	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Intangible Assets [Abstract]
Amortization expense	$ 0.2	$ 0.1	$ 0.6	$ 0.5
Intangible assets			$ 1.0

Loss Per Share (Details) - Schedule of basic and diluted earnings per share - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Schedule of Basic and Diluted Earnings Per Share [Abstract]
Net loss attributable to FaZe Holdings Inc., basic and diluted	$ (14,040)	$ (9,542)	$ (168,534)	$ (36,866)
Weighted-average common shares outstanding, basic	64,071,686	20,640,022	39,872,308	19,187,873
Net loss per share, basic	$ (0.22)	$ (0.46)	$ (4.23)	$ (1.92)

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities, and addition from assumption of issuance of common shares for dilutive potential common shares; of income (loss) available to common shareholders.

+ References + Details

Private Placement Warrants and Recurring Fair Value Measurements (Details) - Schedule of Fair Value of the Private placement warrants - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Fair Value of the Private Placement Warrants [Abstract]
Risk-free interest rate	3.70%	4.00%	1.30%
Expected term (years)	4 years 3 months 18 days	4 years 6 months	5 years 6 months
Expected volatility	91.50%	53.30%	18.50%
Exercise price (in Dollars per share)	$ 11.5	$ 11.5	$ 11.5
Dividend yield	0.00%	0.00%	0.00%

Commitments and Contingencies (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Rent expense	$ 0.4	$ 0.4	$ 1.5	$ 0.9

Loss Per Share (Details) - Schedule of Basic and Diluted Earnings Per Share (Parentheticals) - $ / shares	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Schedule of Basic and Diluted Earnings Per Share [Abstract]
Weighted-average common shares outstanding, diluted	64,071,686	20,640,022	39,872,308	19,187,873
Net loss per share, diluted	$ (0.22)	$ (0.46)	$ (4.23)	$ (1.92)

Loss Per Share (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2023

Dec. 31, 2022

Earnings Per Share [Abstract]

Schedule of basic and diluted earnings per share

	(In thousands, except shares and per-share information)
	Three months ended March 31,
	2023			2022
Basic and diluted loss per share:

Net loss attributable to FaZe Holdings Inc., basic and diluted	$	(14,040	)	$	(9,542	)
Weighted-average common shares outstanding, basic and diluted		64,071,686			20,640,022
Net loss per share, basic and diluted	$	(0.22	)	$	(0.46	)

The following table sets forth the computation of basic and diluted earnings per share attributable to common stockholders for the year ended December 31, 2022 and 2021:

	(in thousands, except shares and per-share information)
	Years ended December 31,
	2022			2021
Basic and diluted loss per share:

Net loss attributable to FaZe Holdings Inc., basic and diluted	$	(168,534	)	$	(36,866	)
Weighted-average common shares outstanding, basic and diluted		39,872,308			19,187,873
Net loss per share, basic and diluted	$	(4.23	)	$	(1.92	)

Schedule of antidilutive shares in the computation of diluted shares outstanding

The Company had antidilutive shares for the three months ended March 31, 2023 and 2022. The following securities were not included in the computation of diluted shares outstanding for the three months ended March 31, 2023, and 2022 because the effect would be antidilutive:

	As of March 31, 2023	As of March 31, 2022
Convertible preferred stock	—	—
Public Warrants	5,750,000	5,750,000
Private Placement Warrants	173,333	173,333
Seller Earn-out	5,312,098	5,312,098
Sponsor Earn-out Shares	2,156,250	2,156,250
Legacy FaZe preferred warrant	—	—
Unvested restricted stock award	1,601,218	1,649,962
Unvested restricted stock units	735,667	1,124,674
Stock options	16,812,734	18,863,654
Total potentially dilutive common stock equivalents	32,541,300	35,029,971

The Company had antidilutive shares for the year ended December 31, 2022 and 2021. The following securities were not included in the computation of diluted shares outstanding for the year ended December 31, 2022, and 2021 because the effect would be antidilutive:

	As of December 31, 2022	As of December 31, 2021
Convertible preferred stock	—	7,209,555
Public Warrants	5,750,000	5,750,000
Private Placement Warrants	173,333	173,333
Seller Earn-out	5,312,098	—
Sponsor Earn-out Shares	2,156,250	—
Legacy FaZe preferred warrant	—	651,951
Unvested restricted stock award	1,649,962	49,426
Stock options	18,863,654	19,912,281
Total potentially dilutive common stock equivalents	33,905,297	33,746,546

Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Income Taxes [Abstract]
Valuation allowance increased	$ 10.9
Federal net operating loss carryovers	$ 123.8	$ 73.3
Net operating loss carryforwards, description	The 2017 Tax Cuts and Jobs Act (“TCJA”) will generally allow losses incurred after 2017 to be carried over indefinitely but will generally limit the net operating loss deduction to the lesser of the net operating loss carryover or 80% of a corporation’s taxable income (subject to Section 382 of the Internal Revenue Code of 1986, as amended). Also, there will be no carryback for losses incurred after 2017. Losses incurred prior to 2018 will generally be deductible to the extent of the lesser of a corporation’s net operating loss carryover or 100% of a corporation’s taxable income and be available for twenty years from the period the loss was generated. The Company has federal net operating losses generated following 2017 of $122.8 million, which do not expire. The federal net operating losses generated prior to 2018 of $1.0 million will expire at various dates through 2037.
State net operating loss carryovers	$ 128.0	$ 129.4

Summary of Significant Accounting Policies (Details) - Schedule of Consolidated Statements of Operations $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($)
Prior to change [Member]
Condensed Income Statements, Captions [Line Items]
Cost of revenues	$ 41,553
General and administrative	39,401
Gross profit	11,299
Effect of Change [Member]
Condensed Income Statements, Captions [Line Items]
Cost of revenues	2,323
General and administrative	(2,323)
Gross profit	(2,323)
As Adjusted [Member]
Condensed Income Statements, Captions [Line Items]
Cost of revenues	43,876
General and administrative	37,078
Gross profit	$ 8,976

- Definition

The aggregate cost of goods produced and sold and services rendered during the reporting period.

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- Definition

Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.

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+ Details

Income Taxes (Details) - Schedule of Income (Loss) Before Income Tax Expense - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Schedule Of Income Loss Before Income Tax Expense Abstract
United States	$ (168,534)	$ (36,866)
Foreign
Income/(Loss) before income taxes	$ (168,534)	$ (36,866)

Equity

3 Months Ended

12 Months Ended

Mar. 31, 2023

Dec. 31, 2022

Stockholders' Equity Note [Abstract]

EQUITY

7. EQUITY

Prior to the Business Combination, Legacy FaZe had two classes of capital stock outstanding: common stock and preferred stock. Following the Business Combination, the Company has one class of capital stock outstanding: common stock. The following summarizes the terms of the Company’s capital stock.

Preferred Stock

The Company had 3,545,529 shares of Legacy FaZe preferred stock authorized for issuance with a par value of $0.00001 per share as of December 31, 2021 and prior to the Closing of the Business Combination.

The Company had 3,237,800 shares of Legacy FaZe’s preferred stock issued and outstanding as of December 31, 2021. As a result of the Business Combination, 3,237,800 shares of Legacy FaZe’s preferred stock outstanding as of the Closing Date were converted into shares of Legacy FaZe’s common stock on a one-to-one basis. Pursuant to the Company’s second amended and restated certificate of incorporation, the Company is authorized to issue up to 1,000,000 shares of preferred stock with a par value of $0.0001. As of March 31, 2023, the Company had no shares of preferred stock issued and outstanding.

Common Stock

The Company had 31,900,878 shares of Legacy FaZe common stock authorized for issuance with a par value of $0.00001 per share as of December 31, 2021 and prior to the Closing of the Business Combination.

Pursuant to the Company’s second amended and restated certificate of incorporation, the Company is authorized to issue up to 500,000,000 shares of common stock with a par value of $0.0001 per share.

The Company had 74,046,058 of common stock and 71,551,887 shares of Legacy FaZe’s common stock issued and outstanding as of March 31, 2023 and December 31, 2022 respectively.

Earn-out Shares

As a result of the Business Combination, a number of shares of the Company’s common stock (the “Seller Earn Out”) equal to 6% of the sum of i) the total number of shares of the Company’s common stock issued and outstanding as of immediately after the Closing and ii) the total number of shares of the Company’s common stock equal to the product of the total number of net vested company option shares calculated as of immediately prior to the Closing and the Equity Value Exchange Ratio were issued and are subject to vesting and forfeiture conditions upon reaching certain volume-weighted average price (“VWAP”) per share during the period commencing 90 days after the Closing Date and ending five years after the Closing Date (“Earn-out Period”). Among other things further disclosed in the Merger Agreement, if the following events (“Trigger Event”) occurs on or before the five-year anniversary of the Business Combination:

• the VWAP per share of the Company’s common stock at any point during the trading hours of a trading day is equal to or greater than $12.00 for any 20 trading days within any period of 30 consecutive trading days, one-third (“First Target Earn-Out Shares”) shall immediately vest and no longer be subject to the forfeiture conditions;

• the VWAP per share of the Company’s common stock at any point during the trading hours of a trading day is equal to or greater than $14.00 for any 20 trading days within any period of 30 consecutive trading days, one-third (“Second Target Earn-Out Shares” and, together with the First Target Earn-Out Shares and the Second Target Earn-Out Shares, the “Earn-Out Shares”) shall immediately vest and no longer be subject to the forfeiture conditions;

• the VWAP per share of the Company’s common stock at any point during the trading hours of a trading day is equal to or greater than $16.00 for any 20 trading days within any period of 30 consecutive trading days, one-third (“Third Target Earn-Out Shares”) shall immediately vest and no longer be subject to the forfeiture conditions;

• in the event of a sale during the Earn-out Period, to the extent that the holders of the Company’s common stock receive sale price that is greater than or equal to the applicable closing price, any Earn-Out Shares that have not previously vested shall be deemed to have vested immediately prior to the closing of such sale, and the holders of any Earn-Out Shares deemed vested shall be eligible to participate in such sale with respect to the Sponsor Earn-Out Shares (as defined below) on the same terms, and subject to the same conditions, as apply to the holders of the Company’s common stock. Upon the consummation of the sale, the Earn-out Period shall terminate.

As a result of the Business Combination, among other things further disclosed in the Sponsor Support Agreement, dated as of October 24, 2021, by and among B. Riley Principal 150 Merger Corp., B. Riley Principal 150 Sponsor Co. LLC, and FaZe Clan Inc., the sponsors agreed that (x) an aggregate of 2,156,250 sponsor shares shall be fully vested and (y) an aggregate of 2,156,250 sponsor shares (the “Sponsor Earn-Out Shares”) shall be subject to vesting or forfeiture, during the Earn-out Period, at the time the Trigger Event mentioned above occurs.

The Earn-out Shares meet the accounting definition of a derivative financial instrument, are considered to be indexed to the Company’s common stock and meet other the conditions in ASC 815-40, Derivatives and Hedging: Contracts in Entity’s Own Equity, to be classified as equity.

As of March 31, 2023, the Earn-Out Period had begun but vesting conditions had not yet been met.

Public Warrants to Acquire Common Stock

Prior to the Business Combination, there were 5,750,000 Public Warrants issued and outstanding in connection with the initial public offering of B. Riley 150 with an exercise price of $11.50 per share. The Public Warrants became exercisable 30 days after the Business Combination. Each whole share of the warrant is exercisable for one share of the Company’s common stock.

The Company may redeem the outstanding Public Warrants for $0.01 per warrant upon at least 30 days’ prior written notice of redemption given after the warrants become exercisable, if the reported last sale price of the common stock equals or exceeds $18.00 per share (as adjusted for stock dividends, sub-divisions, reorganizations, recapitalizations and the like) for any 20 trading days within a 30-trading day period commencing after the warrants become exercisable and ending on the third trading day before the Company sends the notice of redemption to the warrant holders. Upon issuance of a redemption notice by the Company, the warrant holders may, at any time after the redemption notice, exercise the Public Warrants on a cashless basis.

The Public Warrants meet the definition of a derivative financial instrument and the equity scope exception in ASC 815-10-15-74(a) to be classified as equity, and are not subject to remeasurement provided that the Company continues to meet the criteria for equity classification.

As of March 31, 2023, all 5,750,000 Public Warrants remain outstanding.

9. EQUITY

Preferred Stock

Pursuant to the Company’s second amended and restated certificate of incorporation, the Company is authorized to issue up to 1,000,000 shares of preferred stock with a par value of $0.0001.

Common Stock

The Company had 71,511,887 of common stock and 8,461,706 shares of Legacy FaZe’s common stock issued and outstanding as of December 31, 2022 and December 31, 2021 respectively.

Earn-out Shares

As a result of the Business Combination, a number of the Company’s common stock (the “Seller Earn Out”) equal to 6% of the sum of i) the total number of the Company’s common stock issued and outstanding as of immediately after the Closing and ii) the total number of shares of the Company’s common stock equal to the product of the total number of net vested company option shares calculated as of immediately prior to the Closing and the Equity Value Exchange Ratio were issued and is subject to vesting and forfeiture conditions upon reaching certain volume-weighted average price (“VWAP”) per share during the period commencing 90 days after the Closing Date and ending five years after the Closing Date (“Earn-out Period”). Among other things further disclosed in the Merger Agreement, if the following events (“Trigger Event”) occurs on or before the five-year anniversary of the Business Combination:

• the VWAP per share of the Company’s common stock at any point during the trading hours of a trading day is equal to or greater than $12.00 for any 20 trading days within any period of 30 consecutive trading days, one-third (“First Target Earn- Out Shares”) shall immediately vest and no longer be subject to the forfeiture conditions;

• the VWAP per share of the Company’s common stock at any point during the trading hours of a trading day is equal to or greater than $14.00 for any 20 trading days within any period of 30 consecutive trading days, one-third (“Second Target Earn-Out Shares”) shall immediately vest and no longer be subject to the forfeiture conditions;

• in the event of a sale during the Earn-out Period, to the extent that the holders of the Company’s common stock receive sale price that is greater than or equal to the applicable closing price, any Earn-out Shares that have not previously vested shall be deemed to have vested immediately prior to the closing of such sale, and the holders of any Earn-out Shares deemed vested shall be eligible to participate in such sale with respect to the sponsor Earn-out Shares on the same terms, and subject to the same conditions, as apply to the holders of the Company’s common stock. Upon the consummation of the sale, the Earn-out Period shall terminate.

As a result of the Business Combination, among other things further disclosed in the Sponsor Support Agreement, the sponsors agreed that (x) an aggregate of 2,156,250 sponsor shares shall be fully vested and (y) an aggregate of 2,156,250 sponsor shares (the “Sponsor Earn-Out Shares”) shall be subject to vesting or forfeiture, during the Earn-out Period, at the event the Trigger Event mentioned above occurs.

As of December 31, 2022, the Earn-Out Period had begun but vesting conditions had not yet been met.

Public Warrants to Acquire Common Stock

As of December 31, 2022, all 5,750,000 Public Warrants remain outstanding.

- Definition

The entire disclosure for equity.

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+ Details

Stock Compensation Expense (Details) - Schedule of Nonvested Stock Warrants - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule Of Nonvested Stock Warrants Abstract
Number of Nonvested Beginning balance
Weighted- Average Exercise Price, Nonvested Beginning balance
Number of, Granted
Weighted- Average Exercise Price, Granted
Number of, Vested	57,250		1,680,774
Weighted- Average Exercise Price, Vested
Number of, Forfeited
Weighted- Average Exercise Price, Forfeited
Number of Nonvested Ending balance
Weighted- Average Exercise Price, Ending balance

Related Party Transactions

12 Months Ended

Dec. 31, 2022

RELATED PARTY TRANSACTIONS

15. RELATED PARTY TRANSACTIONS

On February 17, 2022, Legacy FaZe entered into a collaboration agreement with Spanky’s Clothing Inc., Cordell Broadus, Boss Lady Entertainment and SMAC Entertainment for an initial term of two years, pursuant to which Snoop Dogg became a member of FaZe’s talent network and joined the board of directors on the Closing Date of the Business Combination and agreed to (i) exclusively, except for companies not in direct competition with FaZe, promote FaZe for three years, and (ii) grant FaZe license to use his name and likeness in connection with certain content and services to be produced by him for FaZe, including (w) social media posts, (x) brand campaigns with FaZe sponsors, (y) hosting of events and (z) merchandise collaborations. Snoop Dogg is the Chief Executive Officer of Spanky’s Clothing Inc. Cordell Broadus is the son of Snoop Dogg. Shante Broadus, the spouse of Snoop Dogg, is the Chief Executive Officer of Boss Lady Entertainment. Constance Schwartz- Mornio, the manager of Snoop Dogg, is the Chief Executive Officer of SMAC Entertainment. The Company granted Legacy FaZe’s restricted stock, which converted into Company restricted stock awards, equal in value to (i) $1,857,154 to Snoop Dogg, (ii) $247,615 to Cordell Broadus, (iii) $247,615 to Boss Lady Entertainment and (iv) $247,615 to SMAC Entertainment, each of which will vest as follows: (x) one-third on August 17, 2022, (y) one-third in monthly installments through February 17, 2023 and (z) one-third in monthly installments through February 17, 2024. In addition, FaZe agreed to consider in good faith further equity bonuses and committed $50,000 in value for community outreach, including for the Snoop Youth Football League, scholarships or other charitable causes.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Business Combination

12 Months Ended

Dec. 31, 2022

Business Combinations [Abstract]

BUSINESS COMBINATION

4. BUSINESS COMBINATION

As discussed in Note 1, Description of the Business, on July 19, 2022, the Business Combination was consummated. The following transactions occurred in connection with the Business Combination:

• Redemption of 15,883,395 shares of B. Riley 150 public shares that occurred subsequent to B. Riley 150 stockholders exercising their right to redeem public shares for their pro rata share of the trust account;

• 10,000,000 shares of the Company’s common stock at a purchase price of $10.00 per share were sold and issued for an aggregate purchase price of $100.0 million pursuant to the subscription agreements entered in connection with the PIPE investment, including purchases made by the Company PIPE investor, sponsor related PIPE investors, and third-party investors, and inclusive of shares issued to the sponsor pursuant to the backstop commitment under the sponsor support agreement, representing the portion of the PIPE investment not purchased by third-party investors;

• 525,782 shares of Legacy FaZe’s options to its executives, 1,450,914 shares of Legacy FaZe options, representing 75% of the unvested Legacy FaZe’s options outstanding under its existing incentive plans that remain unvested as of the effective time were vested;

• 42,441 shares of the Company’s restricted stock awards were vested at the Closing, pursuant to existing contractual terms. In addition, 923,886 shares of the Company’s restricted stock awards vested 90 days after the Closing, pursuant to amendments to certain restricted stock awards entered prior to the Closing;

• 1,047,623 shares of Legacy FaZe’s warrants (including 292,790 shares of preferred stock warrants and 754,833 shares of common stock warrants) were exercised into Legacy FaZe’s common stock and preferred stock, respectively;

• 3,237,800 shares of Legacy FaZe’s preferred stock were converted into Legacy FaZe common stock on a one-to-one basis;

• $72.9 million of Legacy FaZe’s convertible debt (including 2021 Cox Convertible Promissory Notes, 2021 Convertible Promissory Notes, 2020 Secured Convertible Note Purchase Agreements and Secured Convertible Promissory Notes, and 2020 Convertible Promissory Notes) were converted into Legacy FaZe common stock, with $6.9 million accrued interest converted into the common stock, and $2.6 million accrued interest settled in cash;

• All 22,902,063 shares of issued and outstanding Legacy FaZe’s common stock (including shares of its common stock issued pursuant to the exercise of common stock and preferred stock purchase warrants and the conversion of its convertible debts and the preferred stocks) were surrendered and exchanged into 50,995,637 shares of the Company’s common stock calculated using the Equity Value Exchange Ratio;

• The Company entered into earn-out agreements to remove restrictions of legally outstanding shares if certain share price milestones are achieved. Refer to Note 9, Equity; and

• The Company assumed public and private placement warrants from B. Riley 150. Refer to Note 9, Equity, for the public warrants (the “Public Warrants”) and Note 7, Private Placement Warrants and Recurring Fair Value Measurements, for the Private Placement Warrants.

As of the Closing Date and following the completion of the Business Combination, the Company had the following outstanding securities:

• 70,132,639 shares of common stock, with a par value of $0.0001 per share.

• 5,923,333 warrants, consisting of 5,750,000 Public Warrants and 173,333 Private Placement Warrants.

As a result of the Business Combination, Legacy FaZe received net cash consideration of $57.8 million. Legacy FaZe and B. Riley 150 incurred costs that were considered direct and incremental costs associated with the transaction. These costs amounted to $25.9 million and were treated as a reduction of additional paid-in capital.

Cash flows provided to or paid by Legacy FaZe or the Company in connection with the Business Combination are included in the Company’s Consolidated Statements of Cash Flows as financing activities.

Debt (Details) - USD ($)		1 Months Ended				12 Months Ended
Debt (Details) - USD ($)	Feb. 01, 2022	Aug. 31, 2021	Jun. 30, 2021	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2022	Dec. 31, 2021	Mar. 31, 2022	Oct. 31, 2021	Dec. 31, 2020
Debt (Details) [Line Items]
Convertible promissory notes		$ 10,000,000
Cox convertible promissory notes, description						(a) December 15, 2023, (b) the consummation of an initial public offering, (c) the merger of Legacy FaZe with another entity, (d) a transaction pursuant to which more than 50% of Legacy FaZe’s equity securities come to be owned by an unrelated third party, (e) a sale of all or substantially all of the assets of Legacy FaZe, or (f) the consummation of a private round of equity financing resulting in aggregate gross proceeds to Legacy FaZe of at least $15.0 million (“Cox Qualified Financing”). In addition, Cox exercised its right to purchase an additional $5.0 million in Cox Convertible Promissory Notes in October 2021.
Conversion price						$ 250,000,000
Capital stock						$ 25,000,000
Interest rate						10.00%
Business combination						$ 15,000,000
Accrued interest						$ 1,300,000
Converted shares (in Shares)						3,096,908
Promissory notes		$ 700,000	$ 700,000	$ 2,500,000	$ 2,500,000
Conversion percentage						90.00%
Enterprise value						$ 250,000,000
Bear interest						4.00%
Closing amount						$ 700,000
Accredited investors										$ 91,700,000
Convertible promissory notes investors						$ 55,000,000
Purchase additional									$ 36,700,000
Accrued interest shares (in Shares)	523,763
Maturity date						Dec. 15, 2023
Secured convertible note purchase agreements, description						(i) an initial public offering, (ii) a transaction or series of related transactions pursuant to which more than 50% of Legacy FaZe’s equity securities come to be owned by an unrelated third party or (iii) the sale of all or substantially all of the assets of Legacy FaZe (a “Liquidity Event”). The CPH Notes are convertible, at the investor’s election, into shares of common stock or shares of the series or class of capital stock (“Conversion Shares”) sold in a private round of equity financing consummated after January 1, 2021 that result in gross proceeds of at least $15.0 million (a “CPH Qualified Financing”). The conversion price is equal to the imputed pre-money enterprise value of Legacy FaZe with respect to the CPH Qualified Financing divided by the total number of shares of capital stock then currently issued and outstanding, calculated on an as-exercised, as-converted, fully diluted basis, but excluding shares of capital stock of Legacy FaZe issuable to the investor upon conversion of the CPH Notes. The conversion price is subject to adjustment in the event Legacy FaZe’s enterprise value is greater than $250.0 million at the time of conversion.
Business combination, description						As a result of the Business Combination, on the Closing Date, $54.7 million of Legacy FaZe’s 2020 Secured Convertible Note Purchase Agreements and Secured Convertible Promissory Notes, with $5.3 million accrued interest, were converted into 15,769,002 shares of the Company’s common stock. In addition, $2.6 million of accrued interest was settled by cash. Upon the conversion of such debts under the Merger Agreement terms, approximately $112.9 million of loss on debt extinguishment was recognized in the year ended December 31, 2022.
Convertible promissory, description						The conversion price was equal to $250.0 million or $200.0 million divided by the total number of shares of capital stock of Legacy FaZe issued and outstanding, calculated on an as-exercised, as-converted, fully diluted basis, but excluding shares of capital stock of Legacy FaZe issued or issuable upon conversion of the note and other convertible notes of Legacy FaZe.The 2020 Convertible Promissory Notes, which cannot be prepaid without consent of the holder, bear interest at a rate of 4.00% per annum and are subordinate and junior in right of payment to any senior indebtedness of Legacy FaZe.Legacy FaZe evaluated the embedded conversion feature in accordance with ASC 815 and determined that embedded conversion feature did not meet the definition of a derivative and therefore did not account for it as a separate derivative liability.As a result of the Business Combination, on the Closing Date, $2.5 million of Legacy FaZe’s 2020 Convertible Promissory Notes, with $0.2 million accrued interest, were converted into 546,220 shares of the Company’s common stock. Upon the conversion of such debts under the Merger Agreement terms, approximately $2.4 million of loss on debt extinguishment was recognized in the year ended December 31, 2022.
Term loan								$ 10,000,000
Final term loan						$ 10,000,000
Interest rate percentage						7.00%
Company paid						$ 20,000,000
Paycheck protection program loan, description						Business Administration in a principal amount of $1.1 million pursuant to Title 1 of the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”). The PPP Loan proceeds are available to be used to pay for payroll costs, including salaries, commissions and similar compensation, group health care benefits and paid leaves, rent, utilities, and interest on certain other outstanding debt.Legacy FaZe is required to make principal and interest payments in monthly installments, beginning ten months after the last day of the covered period, on the balance that is not forgiven. The loan matures in May 2022 and bears interest at a rate of 1.00% per annum.As a result of the Business Combination, on the Closing Date, the Company paid the $1.1 million of outstanding PPP Loan and $24,760 of accrued interest with the proceeds of the Merger.
Interest expense						$ 4,500,000	$ 5,500,000
Debt issuance costs						100,000	$ 100,000
2021 Convertible Promissory Notes [Member]
Debt (Details) [Line Items]
Accrued interest						$ 26,770
Converted shares (in Shares)						133,276
CPH [Member]
Debt (Details) [Line Items]
Accrued interest shares (in Shares)	4,800,000
Bear interest						10.00%
B. Riley Term Loan [Member]
Debt (Details) [Line Items]
Term loan						$ 400,000

Commitments and Contingencies (Details) - Schedule of Future Minimum Lease Payment - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Schedule Of Future Minimum Lease Payment Abstract
2023	$ 1,184	$ 1,577
2024	1,087	1,087
2025	5	5
2026	3	3
Thereafter
Total minimum lease payment	$ 2,279	$ 2,672

Stock Compensation Expense (Details) - Schedule of Stock Option Grant Activity - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Vested and Nonvested Stock Options [Member]
Stock Compensation Expense (Details) - Schedule of Stock Option Grant Activity [Line Items]
Number, Outstanding Beginning balance	18,863,654
Weighted Average Exercise Price, Outstanding Beginning balance	$ 0.38
Weighted Average Remaining Life, Beginning balance	4 years 1 month 17 days	4 years 10 months 9 days
Number, Outstanding Ending balance	16,812,734	18,863,654
Weighted Average Exercise Price, Outstanding Ending balance	$ 0.38	$ 0.38
Weighted Average Remaining Life, Ending balance	3 years 10 months 17 days	4 years 1 month 17 days
Number, Granted
Weighted Average Exercise Price, Granted
Weighted Average Remaining Life, Granted
Number, Exercised	(2,050,920)	(1,048,627)
Weighted Average Exercise Price, Exercised	$ 0.38	$ 0.38
Weighted Average Remaining Life, Exercised
Number, Expired or forfeited
Weighted Average Exercise Price, Expired or forfeited
Weighted Average Remaining Life, Expired or forfeited
Vested and Nonvested Stock Warrants [Member]
Stock Compensation Expense (Details) - Schedule of Stock Option Grant Activity [Line Items]
Number, Outstanding Beginning balance	5,923,333
Weighted Average Exercise Price, Outstanding Beginning balance	$ 11.5
Weighted Average Remaining Life, Beginning balance	4 years 6 months 18 days	5 years 9 months 14 days
Number, Outstanding Ending balance	5,923,333	5,923,333
Weighted Average Exercise Price, Outstanding Ending balance	$ 11.5	$ 11.5
Weighted Average Remaining Life, Ending balance	4 years 3 months 18 days	4 years 6 months 18 days
Number, Granted
Weighted Average Exercise Price, Granted
Weighted Average Remaining Life, Granted
Number, Exercised		(651,951)
Weighted Average Exercise Price, Exercised		$ 0.53
Weighted Average Remaining Life, Exercised
Number, Expired or forfeited
Weighted Average Exercise Price, Expired or forfeited
Weighted Average Remaining Life, Expired or forfeited

Private Placement Warrants and Recurring Fair Value Measurements (Details) - Schedule of Fair Value of the Private Placement Warrants - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Fair Value of the Private Placement Warrants [Abstract]
Risk-free interest rate	3.70%	4.00%	1.30%
Expected term (years)	4 years 3 months 18 days	4 years 6 months	5 years 6 months
Expected volatility	91.50%	53.30%	18.50%
Exercise price (in Dollars per share)	$ 11.5	$ 11.5	$ 11.5
Dividend yield	0.00%	0.00%	0.00%

Summary of Significant Accounting Policies

3 Months Ended

12 Months Ended

Mar. 31, 2023

Dec. 31, 2022

Summary of Significant Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying interim Condensed Consolidated Financial Statements of the Company have been prepared in conformity with accounting principles generally accepted in the United States (“U.S. GAAP”) and are consistent in all material respects with those applied in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 filed with the Securities and Exchange Commission (the “SEC”) on April 4, 2023. These Condensed Consolidated Financial Statements are unaudited and have been prepared by the Company following the rules and regulations of the SEC. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted as permitted by such rules and regulations; however, the Company believes the disclosures are adequate to make the information presented not misleading.

The interim financial information is unaudited, but reflects all normal recurring adjustments that are, in the opinion of management, necessary to fairly present the information set forth herein. The interim Condensed Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022. Interim results are not necessarily indicative of the results for a full year. The preparation of the Condensed Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and judgements that affect the amounts reported in the Consolidated Financial Statements and accompanying notes. Significant items subject to such estimates and assumptions include revenue recognition, allowance for doubtful accounts, and intangible asset impairments, share-based compensation expense, valuation allowance for deferred income taxes and amortization of intangible assets. The Company bases its estimates on historical experience and on various other assumptions that the Company believes to be reasonable under the circumstances. On a regular basis, the Company evaluates the assumptions, judgements and estimates. Actual results may differ from these estimates.

There have been no material changes in the Company’s significant accounting policies as compared to the significant accounting policies described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022.

Principles of consolidation

The Condensed Consolidated Financial Statements include the accounts of FaZe Holdings Inc. and its wholly owned subsidiary. All significant intercompany balances and transactions have been eliminated.

Use of Estimates

The preparation of the Company’s Condensed Consolidated Financial Statements in conformity with U.S. GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of income and expenses during the reporting period. These estimates

are based on information available as of the date of the consolidated financial statements. The inputs into certain of these estimates and assumptions include the consideration of the economic impact of the COVID-19 pandemic. Significant estimates include revenue recognition, allowance for doubtful accounts, warrant liabilities, valuation of the Company’s common stock before the Business Combination, stock-based compensation expense, and income taxes. These estimates generally involve complex issues and require management to make judgments, involve analysis of historical and future trends, can require extended periods of time to resolve, and are subject to change from period to period. In all cases, actual results could differ materially from management’s estimates.

COVID-19

The continuing presence of COVID-19 around the world has affected the United States and global economies and has affected the Company’s operations and those of third parties upon which the Company relies, including disruption in staffing, order fulfillment, and demand for product. In addition, the COVID-19 pandemic has and may continue to affect the Company’s revenues. Additionally, while the duration and potential economic impact brought by the COVID-19 pandemic are difficult to assess or predict, the COVID-19 pandemic may reduce the Company’s ability to access capital, which could negatively impact the Company’s short-term and long-term liquidity. The continuing impact of the COVID-19 pandemic is highly uncertain and subject to change. The Company continues to monitor COVID-19 and the extent to which the continued spread of the virus adversely affects the Company’s customer base and revenue. The Company’s plans as described above may change as needed. As restrictions and lockdowns related to COVID-19 have ended the Company does not anticipate further disruptions to its business, but new strains and outbreaks could have a material adverse impact on the business, results of operations, financial position, and cash flows.

Content Asset, net

The Company produces programming content which it plans to broadcast on online video and streaming platforms. Costs of produced content consist of development and production costs. These costs are capitalized as “Content Asset, net” on the Consolidated Balance Sheets.

Each title is predominantly monetized on its own. At the specific title level, the Company tests the content asset for impairment when events and circumstances indicate that its fair value may be less than its unamortized cost. If the carrying value of a content asset exceeds its estimated fair value, an impairment charge will be recorded in the amount of the difference.

The Company’s policy is to amortize the content asset once the content airs. Given that the content was fully written off prior to airing, no amortization expense was recorded for the three months ended March 31, 2023 and 2022. The Company does not own any purchased or licensed programming content.

Exploitation costs such as marketing, advertising, publicity, promotion, and other distribution expenses directly connected with the distribution of the content asset are expensed as incurred.

Fixed Assets

Fixed assets are stated at cost less accumulated depreciation. Cost includes expenditures for furniture, computer equipment, vehicles, leasehold improvements, and other assets. Maintenance and repairs are charged to expense as incurred. When assets are sold, retired, or otherwise disposed of, the cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is reflected in operations. The costs of fixed assets are depreciated using the straight-line method over the estimated useful lives or lease life of the related assets.

Revenue Recognition and Contract Balances

Revenues are recognized when control of the promised goods or services is transferred to the Company’s customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. The Company’s payment terms and conditions vary by customer and contract type. In instances where the timing of revenue recognition differs from the timing of invoicing, the Company does not adjust the promised amount of consideration for the effects of a significant financing component when the Company expects, at contract inception, that the period between the Company’s transfer of a promised product or service to the Company’s customer and payment for that product or service will be one year or less.

The Company generally records a receivable related to revenue when the Company has an unconditional right to invoice and receive payment. Contract assets arise from contracts when revenue is recognized over time and the amount of revenue recognized, including management’s estimate of variable consideration that has been included in the transaction price exceeds the amount billed to the customer. These amounts are included in contract assets until the right to payment is no longer conditional on events other than the passage of time. These contract assets are reclassified to receivables when the right to consideration becomes unconditional. For the three months ending March 31, 2023, and 2022, no impairment was recorded from contract assets.

The Company’s allowances for doubtful accounts are typically immaterial and, if required, are based on management’s best estimate of expected credit losses inherent in the Company’s accounts receivable balance.

Contract liabilities are recorded in the event that the Company bills for services in advance of the time the services are performed, or when cash payments are received or due in advance of satisfying the Company’s performance obligations, even if amounts are refundable. Contract liabilities recorded at March 31, 2023, and December 31, 2022, represent the Company’s accounting for the timing difference between when the customer is billed or funds are received and when the performance obligation is satisfied. During the three months ended March 31, 2023 and 2022, the Company recognized $2.6 million and $3.0 million as revenue that was relating to the contract liability balance as of January 1, 2023 and 2022, respectively.

The following table disaggregates the Company’s revenue by major type for the three months ended March 31, 2023, and 2022:

	(In thousands)
	Three months ended March 31,
	2023		2022
Brand sponsorships	$	6,263	$	8,060
Content		3,028		4,681
Consumer products		388		403
Esports		2,847		2,426
Other		24		234
Total revenue	$	12,550	$	15,804

The section below describes the Company’s revenue recognition policies and significant judgments in further detail for each major revenue source of the Company.

Brand Sponsorships

context of the contracts. Revenues from brand sponsorship agreements are recognized ratably over the contract term. Payment terms and conditions vary, but payments are generally due periodically throughout the term of the contract. In instances where the timing of revenue recognition differs from the timing of billing, management has determined the brand sponsorship agreements generally do not include a significant financing component.

Content

The Company and our talent roster generates and produces original content which the Company monetizes through Google’s AdSense service. Revenue is variable and is earned when the visitor views or “clicks through” on the advertisement. The amount of revenue earned is reported to the Company monthly and is recognized upon receipt of the report of viewership activity. Payment terms and conditions vary, but payments are generally due within 30 to 45 days after the end of each month.

The Company grants exclusive licenses to customers for certain content produced by the Company’s talent. The Company grants the customer a license to the intellectual property, which is the content and its use in generating advertising revenues, for a pre-determined period, for an amount paid by the customer, in most instances, upon execution of the contract. The Company’s only performance obligation is to license the content for use in generating advertising revenues, and the Company recognizes the full contract amount at the point at which the Company provides the customer access to the content, which is at the execution of the contract. The Company has no further performance obligations under these types of contracts and does not anticipate generating any additional revenue from these arrangements apart from the contract amount.

Principal Versus Agent Considerations

A significant amount of the Company’s brand sponsorship and content revenues are generated from the Company’s talent, who are under exclusive, multi-year contracts. The Company’s talent consists of independent contractors, whose compensation is tied to the revenue that they generate. Management has evaluated the terms of the Company’s brand sponsorship and content agreements and has concluded the Company is the principal. Brand sponsorship and content revenues are reported on a gross basis, while revenue-sharing and other fees paid to the Company’s talent are recorded as cost of revenues. The Company owns the brand and intellectual property, takes primary responsibility for delivery of services, and exercises control over content generation and monetization. The Company contracts directly with Google on its Company operated channels, and the talent contracts directly with Google on their own channels. As part of the Company’s contracts with its talent, the Company agrees to serve as the talent’s exclusive management company as it relates to any and all type of work the talent may perform, including content creation and advertising revenue generated from the content. While the talent owns the content they create while they are under contract with the Company, the talent grants the Company an exclusive perpetual license to the content, and the Company grants limited usage rights of that content back to the talent, conditional upon them complying with their contract. Furthermore, all income earned from services provided by the talent related to gaming, Esports, content creation, or the business of the Company, which includes revenue from advertising via talent content, is subject to the talent agreement and is payable to the Company. In addition, the Company’s contracts with its talent specify rules and restrictions on the content the talent can create and post. As such, through its contracts with talent, the Company is the principal because the Company is the entity exercising primary control over the content generated in the YouTube channels being monetized.

Consumer Products

incentive programs that are material to revenue recognition. Payment is due at the time of sale. The Company has outsourced the design, manufacturing, fulfillment, distribution, and sale of the Company’s consumer products to a third party in exchange for royalties based on the amount of revenue generated. Management evaluated the terms of the agreement to determine whether the Company’s consumer products revenues should be reported gross or net of royalties paid. Key indicators that management evaluated in determining whether the Company is the principal in the sale (gross reporting) or an agent (net reporting) include, but are not limited to:

• the Company is the party that is primarily responsible for fulfilling the promise to provide the specified good or service,

• the Company has inventory risk before the good is transferred to the customer, and

• the Company is the party that has discretion in establishing pricing for the specified good or service.

Based on management’s evaluation of the above indicators, the Company reports consumer products revenues on a gross basis.

Esports

League Participation: Generally, The Company has one performance obligation to participate in the overall Esport event because the underlying activities do not have standalone value absent the Company’s participation in the tournament or event. Revenue from prize winnings and profit-share agreements is variable and is highly uncertain. The Company recognizes revenue at the point in time when the uncertainty is resolved.

Player Transfer Fees: Player transfer agreements include a fixed fee and may include a variable fee component. The Company recognizes the fixed portion of revenue from transfer fees upon satisfaction of the Company’s performance obligation, which coincides with the execution of the related agreement. The variable portion of revenue is considered highly uncertain and is recognized at the point in time when the uncertainty is resolved.

Licensing of Intellectual Property: The Company’s licenses of intellectual property generate royalties that are recognized in accordance with the royalty recognition constraint. That is, royalty revenue is recognized at the time when the sale occurs.

Transaction Price Allocated to the Remaining Performance Obligations

For the estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) as of March 31, 2023, the Company applies the allowable practical expedient and does not disclose information about remaining performance obligations that have original expected durations of one year or less. Revenue expected to be recognized in the future related to performance obligations that have original expected durations greater than one year that are unsatisfied (or partially unsatisfied) as of March 31, 2023 were not material.

Warrants

The Company accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in ASC 480, Distinguishing Liabilities from Equity, and ASC 815, Derivatives and Hedging. Warrants that meet the definition of a derivative financial instrument and the equity scope exception in ASC 815-10-15-74(a) are classified as equity, and are not subject to remeasurement provided that the Company continues to meet the criteria for equity classification. Warrants that are accounted for as equity-classified are further discussed in Note 7, Equity. Warrants that are classified as liabilities are accounted for at fair value and remeasured at each reporting date until exercise, expiration, or modification that results in equity classification. Any change in the fair value of the warrants is recognized as change in fair value of warrant liabilities in the Consolidated Statements of Operations.

The classification of warrants, including whether warrants should be recorded as liabilities or as equity, is re-assessed at the end of each reporting period. The fair value of liability-classified warrants is determined using the Black-Scholes options pricing model (“Black-Scholes model”) which includes Level 3 inputs as further discussed in Note 6, Private Placement Warrants and Recurring Fair Value Measurements.

Stock-Based Compensation

The Company accounts for its stock-based awards in accordance with ASC 718, Compensation — Stock Compensation, which requires fair value measurement on the grant date and recognition of compensation expense for all stock-based payment awards.

Legacy FaZe has issued stock options before there was an active market for the Company’s common stock. The Board of Directors (the “Board”) was required to estimate the fair value of the Company’s common stock at the time of each award. The Board considered numerous objective and subjective factors in determining the value of the Company’s common stock at each grant date, including the following: (1) the per-share price of issuances of the Company’s preferred stock, which the Company sold to outside investors in arm’s-length transactions, and the rights, preferences, and privileges of the Company’s preferred stock and common stock; (2) valuations performed by an independent valuation specialist; (3) the Company’s stage of development and revenue growth; (4) the fact that the awards involved illiquid securities in a private company; and (5) the likelihood of achieving a liquidity event for the shares of common stock underlying the awards, such as an initial public offering or sale of the Company, given prevailing market conditions. The Company believed this to have been a reasonable methodology based on certain arm’s-length transactions involving the Company’s preferred stock, supported by the results produced by this valuation methodology. Since the Business Combination, the Company’s common stock is now actively traded, so the fair value of the common stock is readily available.

For stock options, the Company estimates the fair value using the Black-Scholes model. The fair value is expensed over the requisite service periods of the awards (usually one to four years), in the period of grant for awards that vest immediately and have no future service condition, or in the period the awards vest immediately after meeting a performance condition becomes probable (i.e., the occurrence of a change in control event). As there was no public market for its common stock at the time of the stock option grant, the Company determined the volatility for options granted based on an analysis of reported data for a peer group of companies. The expected volatility of options granted has been estimated based on an average of the historical volatility measures of this peer group of companies. The expected life of options has been estimated utilizing the “simplified method” due to the lack of available or sufficient historical exercise data for the Company for the applicable options terms. The simplified method is based on the average of the vesting tranches and the contractual life of each grant. The risk-free interest rate is based on a treasury instrument whose term is consistent with the expected life of the stock options. The Company has not paid, and does not anticipate paying, cash dividends on its common stock; therefore, the expected dividend yield is assumed to be zero. As the Company’s stock is now publicly traded after the Business Combination, the fair value of the Company’s stock and the volatility is readily available.

The Black-Scholes model requires the input of certain assumptions that require the Company’s judgment, including the fair value of common shares before the Business Combination, expected term, and the expected price volatility of the underlying stock. The assumptions used in calculating the fair value of stock-based compensation represent the Company’s best estimates, but these estimates involve inherent uncertainties and the application of judgment. As a result, if factors change resulting in the use of different assumptions, stock-based compensation expense could be materially different in the future. The Company accounts for forfeitures of stock-based awards as they occur.

Fair Value Measurement

The fair value hierarchy requires the Company to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s classification within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The fair value hierarchy consists of the following three levels:

		Level 1:		Quoted prices in active markets for identical assets or liabilities
		Level 2:		Quoted prices for similar assets and liabilities in active markets or inputs other than quoted prices which are observable for the assets or liabilities
		Level 3:		Unobservable inputs which are supported by little or no market activity

The carrying amount of the Company’s financial instruments, including cash, accounts receivable, notes receivable, and accounts payable, approximate fair value due to their short-term nature.

The Company’s private placement warrants (the “Private Placement Warrants”) are accounted for as liabilities in accordance with ASC 815-40 and are presented within warrant liabilities on the Consolidated Balance Sheets. The warrant liabilities are measured at fair value at inception and on a recurring basis, with changes in fair value presented within change in fair value of warrant liabilities in the Consolidated Statements of Operations.

See Note 6, Private Placement Warrants and Recurring Fair Value Measurements, for additional information on the Company’s liabilities measured at fair value.

Earnings (Loss) Per Share

Basic earnings (loss) per share is computed by dividing net earnings (loss) attributable to the Company by the number of weighted average shares of the Company’s common stock outstanding during the period. Diluted earnings (loss) per share is computed by dividing net earnings (loss) attributable to the Company by the number of weighted-average shares of the Company’s common stock outstanding during the period after adjusting for the impact of securities that would have a dilutive effect on earnings (loss) per share. As the Company has incurred losses in all periods presented, all potentially dilutive securities are antidilutive. See Note 11, Loss Per Share, for additional information on dilutive securities.

Segment Reporting

Operating segments are defined as components of an entity for which separate financial information is available and is regularly reviewed by the Chief Operating Decision Maker (“CODM”) in deciding how to allocate resources to an individual segment and in assessing performance. The Company has determined that its Chief Executive Officer is the CODM. The Company operates and reports financial information in one segment, as the CODM reviews financial information presented on a consolidated basis, at the Company level, for the purposes of making operating decisions, allocation of resources, and evaluating financial performance.

As of March 31, 2023 and December 31, 2022, the Company did not have material assets located outside of the United States. For the three months ended March 31, 2023 and 2022, the Company had international Esports revenue of $2.3 million and no material revenue, respectively, earned outside of the United States.

Recently Adopted Accounting Pronouncements

estimates and judgements used in estimating credit losses. The new guidance is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The adoption of this standard did not have a material impact on the Company’s financial statements and related disclosures.

Out-of-Period Adjustment

During the three months ended March 31, 2023, the Company recorded an out-of-period expense of $1.3 million related to stock based compensation. The adjustment resulted in an increased of stock based compensation expense for the three months ended March 31, 2023. The Company evaluated the quantitative and qualitative aspects of this out of period adjustment and determined that the adjustment did not have a material impact to any previously reported quarterly or annual financial statements.

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying consolidated financial statements include the accounts and operations of the Company. All intercompany accounts and transactions have been eliminated. The consolidated financial statements have been prepared in accordance with U.S. GAAP The preparation of the consolidated financial statements in conformity with U.S. GAAP requires the Company to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from these estimates and assumptions.

Principles of consolidation

The consolidated financial statements include the accounts of FaZe Holdings Inc. and its wholly owned subsidiary. All significant intercompany balances and transactions have been eliminated.

Voluntary Change in Accounting Principle

During the year ended December 2022, we made a voluntary change in accounting principle to classify certain talent costs and talent acquisition amortization costs reported in prior periods have been reclassified from general and administrative to cost of goods sold to conform with the current presentation, to better identify costs related to revenue generation. In accordance with U.S. GAAP, the change has been reflected in the consolidated statements of operations through retrospective application.

(in thousands)	For the twelve months ended December 31, 2021
(in thousands)	Prior to change		Effect of Change			As Adjusted
Cost of revenues	$	41,553	$	2,323		$	43,876
General and administrative		39,401		(2,323	)		37,078
Gross profit		11,299		(2,323	)		8,976

Use of Estimates

The preparation of the Company’s consolidated financial statements in conformity with U.S. GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of income and expenses during the reporting period. These estimates are based on information available as of the date of the consolidated financial statements. The inputs into certain of these estimates and assumptions include the consideration of the economic impact of the COVID-19 pandemic. Significant estimates include revenue recognition, allowance for doubtful accounts, warrant liabilities, valuation of the Company’s common stock before the Business Combination, stock-based compensation expense, and income taxes. These estimates generally involve complex issues and require management to make judgments, involve analysis of historical and future trends, can require extended periods of time to resolve, and are subject to change from period to period. In all cases, actual results could differ materially from management’s estimates.

COVID-19

long-term liquidity. The continuing impact of the COVID-19 pandemic is highly uncertain and subject to change. The Company continues to monitor COVID-19 and the extent to which the continued spread of the virus adversely affects the Company’s customer base and revenue. As COVID-19 is complex and evolving, the Company’s plans as described above may change. At this point, the Company cannot reasonably estimate the duration and severity of this pandemic, which could have a material adverse impact on the business, results of operations, financial position, and cash flows.

Content Asset, net

In April 2022, the Company performed an evaluation of its content asset and determined that the underlying programming of the content asset will not be released. In addition, the Company determined that the content asset has no further utility. Accordingly, the Company recorded an impairment loss of $1.1 million to write off the entire carrying value of content asset. As such, the Company has no content asset balance as of December 31, 2022. Content asset balance as of December 31, 2021 was $0.5 million.

The Company’s policy is to amortize the content asset once the content airs. Given that the content was fully written off prior to airing, no amortization expense was recorded for the years ended December 31, 2022 and 2021. The Company does not own any purchased or licensed programming content.

Exploitation costs such as marketing, advertising, publicity, promotion, and other distribution expenses directly connected with the distribution of the content asset are expensed as incurred.

Fixed Assets

Revenue Recognition and Contract Balances

The Company generally records a receivable related to revenue when the Company has an unconditional right to invoice and receive payment. Contract assets arise from contracts when revenue is recognized over time and the amount of revenue recognized, including management’s estimate of variable consideration that has been included in the transaction price exceeds the amount billed to the customer. These amounts are included in contract assets until the right to payment is no longer conditional on events other than the passage of time. These contract assets are reclassified to receivables when the right to consideration becomes unconditional. For the year ending December 31, 2022, and 2021, no impairment was recorded from contract assets.

Contract liabilities are recorded in the event that the Company bills for services in advance of the time the services are performed, or when cash payments are received or due in advance of satisfying the Company’s performance obligations, even if amounts are refundable. Contract liabilities recorded at December 31, 2022, and December 31, 2021, represent the Company’s accounting for the timing difference between when the customer is billed or funds are received and when the performance obligation is satisfied. During the year ended December 31, 2022 and 2021, the Company recognized $7.8 million and $0.8 million as revenue that was relating to the contract liability balance as of January 1, 2022 and 2021, respectively.

The following table disaggregates the Company’s revenue by major type for the year ended December 31, 2022, and 2021:

	(in thousands)
	Year ended December 31,
	2022		2021
Brand sponsorships	$	42,096	$	24,867
Content		14,497		16,068
Consumer products		3,455		5,751
Esports		9,385		5,846
Other		588		320
Total revenue	$	70,021	$	52,852

The section below describes the Company’s revenue recognition policies and significant judgments in further detail for each major revenue source of the Company.

Brand Sponsorships

The Company offers advertisers a full range of promotional vehicles, including but not limited to online advertising, livestream announcements, content generation, social media posts, logo placement on the Company’s official merchandise, and special appearances of members of the Company’s talent roster. The Company’s brand sponsorship agreements may include multiple services that are capable of being individually distinct, however the intended benefit is an association with the Company’s brand and the services are not distinct within the context of the contracts. Revenues from brand sponsorship agreements are recognized ratably over the contract term. Payment terms and conditions vary, but payments are generally due periodically throughout the term of the contract. In instances where the timing of revenue recognition differs from the timing of billing, management has determined the brand sponsorship agreements generally do not include a significant financing component.

Content

The Company generates and produces original content which the Company monetizes through Google’s AdSense service. Revenue is variable and is earned when the visitor views or “clicks through” on the advertisement. The amount of revenue earned is reported to the Company monthly and is recognized upon receipt of the report of viewership activity. Payment terms and conditions vary, but payments are generally due within 30 to 45 days after the end of each month.

The Company grants exclusive licenses to customers for certain content produced by the Company’s talent. The Company grants the customer a license to the intellectual property, which is the content and its use in generating advertising revenues, for a pre-determined period, for an amount paid by the customer upon execution of the contract. The Company’s only performance obligation is to license the content for use in generating advertising revenues, and recognizes the full contract amount at the point at which the Company provides the customer access to the content, which is at the execution of the contract. The Company has no further performance obligations under these types of contracts and does not anticipate generating any additional revenue from these arrangements apart from the contract amount.

Principal Versus Agent Considerations

A significant amount of the Company’s brand sponsorship and content revenues are generated from the Company’s talent, who are under exclusive, multi-year contracts. The Company’s talent consists of highly trained independent contractors, whose compensation is tied to the revenue that they generate. Management has evaluated the terms of the Company’s brand sponsorship and content agreements and has concluded the Company is the principal. Brand sponsorship and content revenues are reported on a gross basis, while revenue-sharing and other fees paid to the Company’s talent are recorded as cost of revenues. The Company owns the brand and intellectual property, takes primary responsibility for delivery of services, and exercises control over content generation and monetization. The Company contracts directly with Google on its Company operated channels, and the talent contracts directly with Google on their own channels. As part of the Company’s contracts with its talent, the Company agrees to serve as the talent’s exclusive management company as it relates to any and all type of work the talent may perform, including content creation and advertising revenue generated from the content. While the talent owns the content they create while they are under contract with the Company, the talent grants the Company an exclusive perpetual license to the content, and the Company grants limited usage rights of that content back to the talent, conditional upon them complying with their contract. Furthermore, all income earned from services provided by the talent related to gaming, Esports, content creation, or the business of the Company, which includes revenue from advertising via talent content, is subject to the talent agreement and is payable to the Company. In addition, the Company’s contracts with its talent specify rules and restrictions on the content the talent can create and post. As such, through its contracts with talent, the Company is the principal because the Company is the entity exercising primary control over the content generated in the YouTube channels being monetized.

Consumer Products

The Company earns consumer products revenue from sales of the Company’s consumer products on the Company’s website or at live or virtual events. Revenues are recognized at a point in time, as control is transferred to the customer upon shipment. The Company offers customer returns and discounts through a third-party distributor and accounts for this as a reduction to revenue. The Company does not offer loyalty programs or other sales incentive programs that are material to revenue recognition. Payment is due at the time of sale. The Company has outsourced the design, manufacturing, fulfillment, distribution, and sale of the Company’s consumer products to a third party in exchange for royalties based on the amount of revenue generated. Management evaluated the

terms of the agreement to determine whether the Company’s consumer products revenues should be reported gross or net of royalties paid. Key indicators that management evaluated in determining whether the Company is the principal in the sale (gross reporting) or an agent (net reporting) include, but are not limited to:

• the Company is the party that is primarily responsible for fulfilling the promise to provide the specified good or service,

• the Company has inventory risk before the good is transferred to the customer, and

• the Company is the party that has discretion in establishing pricing for the specified good or service.

Based on management’s evaluation of the above indicators, the Company reports consumer products revenues on a gross basis.

Esports

League Participation: Generally, The Company has one performance obligation — to participate in the overall Esport event — because the underlying activities do not have standalone value absent the Company’s participation in the tournament or event. Revenue from prize winnings and profit-share agreements is variable and is highly uncertain. The Company recognizes revenue at the point in time when the uncertainty is resolved.

Transaction Price Allocated to the Remaining Performance Obligations

For the estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) as of December 31, 2022, the Company applies the allowable practical expedient and does not disclose information about remaining performance obligations that have original expected durations of one year or less. Revenue expected to be recognized in the future related to performance obligations that have original expected durations greater than one year that are unsatisfied (or partially unsatisfied) as of December 31, 2022 were not material.

Warrants

The Company accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in ASC 480, Distinguishing Liabilities from Equity and ASC 815, Derivatives and Hedging. Warrants that meet the definition of a derivative financial instrument and the equity scope exception in ASC 815-10-15-74(a) are classified as equity, and are not subject to remeasurement provided that the Company continues to meet the criteria for equity classification. Warrants that are accounted for as equity-classified are further discussed in Note 9, Equity. Warrants that are classified as liabilities are accounted for at fair value and remeasured at each reporting date until exercise, expiration, or modification that results in equity classification. Any change in the fair value of the warrants is recognized as change in fair value of warrant liabilities in the Consolidated Statements of Operations. The classification of warrants, including whether warrants should be recorded as liabilities or as equity, is

re-assessed at the end of each reporting period. The fair value of liability-classified warrants is determined using the Black-Scholes options pricing model (“Black-Scholes model”) which includes Level 3 inputs as further discussed in Note 7, Private Placement Warrants and Recurring Fair Value Measurements.

Stock-Based Compensation

Fair Value Measurement

Level 1: Quoted prices in active markets for identical assets or liabilities

Level 2: Quoted prices for similar assets and liabilities in active markets or inputs other than quoted prices which are observable for the assets or liabilities

Level 3: Unobservable inputs which are supported by little or no market activity

The carrying amount of the Company’s financial instruments, including cash, accounts receivable, notes receivable, and accounts payable, approximate fair value due to their short-term nature.

See Note 7, Private Placement Warrants and Recurring Fair Value Measurements, for additional information on the Company’s liabilities measured at fair value.

Earnings (Loss) Per Share

Basic earnings (loss) per share is computed by dividing net earnings (loss) attributable to the Company by the number of weighted average shares of the Company’s common stock outstanding during the period. Diluted earnings (loss) per share is computed by dividing net earnings (loss) attributable to the Company by the number of weighted-average shares of the Company’s common stock outstanding during the period after adjusting for the impact of securities that would have a dilutive effect on earnings (loss) per share. As the Company has incurred losses in all periods presented, all potentially dilutive securities are antidilutive. See Note 13, Loss Per Share, for additional information on dilutive securities.

Segment Reporting

As of December 31, 2022 and December 31, 2021, the Company did not have material assets located outside of the United States. For the years ended December 31, 2022 and 2021, the Company had $1.8 million and $4.0 million of revenue, respectively, earned outside of the United States.

Recently Adopted Accounting Pronouncements

In August 2020, the FASB issued ASU 2020-06, Debt — Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging- Contracts in Entity’s Own Equity (Subtopic 815-40). This ASU reduces the number of accounting models for convertible debt instruments and convertible preferred stock as well as amends the guidance for the derivatives scope exception for contracts in an entity’s own equity to reduce

form-over-substance-based accounting conclusions. In addition, this ASU improves and amends the related EPS guidance. The ASU is effective for interim and annual periods beginning after December 15, 2023, with early adoption permitted for fiscal years beginning after December 15, 2020. Adoption of the ASU can either be on a modified retrospective or full retrospective basis. The Company adopted the standard with an effective date of January 1, 2022 using the modified retrospective approach. The adoption of this ASU impacted the Company’s accounting for the conversion of convertible debt under original contractual terms at the Merger on July 19, 2022 as discussed in Note 8, Debt.

In May 2021, the FASB issued ASU 2021-04, Earnings Per Share (Topic 260), Debt — Modifications and Extinguishments (Subtopic 470-50), Compensation — Stock Compensation (Topic 718), and Derivatives and Hedging — Contracts in Entity’s Own Equity (Subtopic 815-40): Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options. The amendments are designed to clarify an issuer’s accounting for certain modifications or exchanges of freestanding equity-classified written call options that remain equity- classified after modification or exchange. The ASU provides guidance on how an issuer would measure and recognize the effects of these transactions. The standard provides a principles-based framework to determine whether an issuer should recognize the modification or exchange as an adjustment to equity or an expense. The ASU is effective for all entities for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. An entity should apply the guidance provided in ASU 2021-04 prospectively to modifications or exchanges occurring on or after the effective date. The Company adopted the standard with an effective date of January 1, 2022. The adoption of this ASU did not have a material impact on the consolidated financial statements.

In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which requires lessees to recognize a right-of-use (“ROU assets”) asset and a lease liability for all leases with terms greater than 12 months and requires disclosures by lessees and lessors about the amount, timing, and uncertainty of cash flows arising from leases. After the issuance of ASU 2016-02, the FASB clarified the guidance through several ASUs; hereinafter the collection of lease guidance is referred to as “ASC 842”. The ASU is effective for annual periods beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022.

The Company adopted ASC 842 as of January 1, 2022 using the optional transition method to apply the standard as of the effective date. Accordingly, previously reported financial statements, including footnote disclosures, have not been recast to reflect the application of the new standard to all comparative periods presented.

The new standard also provides practical expedients for an entity’s ongoing accounting as a lessee. The Company elected to utilize the practical expedient to not separate lease and non-lease components for all its existing leases. The Company has also elected not to present short-term leases on the condensed consolidated balance sheet as these leases have a lease term of 12 months or less at lease inception and do not contain purchase options or renewal terms that the Company is reasonably certain to exercise. All other lease assets and lease liabilities are recognized based on the present value of lease payments over the lease term at commencement date. Because most of the Company’s leases do not provide an implicit rate of return, it used its incremental borrowing rate based on the information available at adoption date in determining the present value of lease payments.

Adoption of the new lease standard on January 1, 2022 had a material impact on the Company’s consolidated financial statements. The most significant impacts related to the recognition of ROU assets of $2.7 million and lease liabilities of $2.6 million for operating leases on the condensed consolidated balance sheet. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. The standard did not materially impact the Company’s consolidated statement of operations and consolidated statement of cash flows.

In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic-740): Simplifying the Accounting for Income Taxes, which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in ASC 740 and also clarifies and amends existing guidance

to improve consistent application. The guidance is effective for fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022, with early adoption permitted. The adoption of this standard did not have a material impact on the Company’s consolidated financial statements and related disclosures.

Accounting Pronouncements Not Yet Adopted

As an emerging growth company, the JOBS Act allows the Company to delay adoption of new or revised accounting pronouncements applicable to public companies until such pronouncements are applicable to private companies. The Company elected to use this extended transition period under the JOBS Act until such time the Company is no longer considered to be an emerging growth company. The adoption dates discussed below reflect this election.

In September 2016, the FASB issued ASU 2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. This guidance requires the measurement of all expected credit losses for financial assets held at the reporting data based on historical experience, current conditions, and reasonable and supportable forecasts. This guidance also requires enhanced disclosures regarding significant estimates and judgements used in estimating credit losses. The new guidance is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company is currently evaluating the impact of this standard on its consolidated financial statements and related disclosures.

Stock Compensation Expense (Details) - USD ($)	1 Months Ended		3 Months Ended		12 Months Ended
Stock Compensation Expense (Details) - USD ($)	Oct. 24, 2021	Jul. 31, 2021	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Stock Compensation Expense (Details) [Line Items]
Number of share equity value exchange ratio			2.2267
Options granted and vesting expense (in Dollars)			$ 6,000		$ 500,000	$ 100
Stock based compensation expense (in Dollars)				$ 56,000	$ 1,600,000
Granted
Granted and vesting expense (in Dollars)			$ 0	$ 0	$ 1,600,000	$ 0
2022 Omnibus Incentive Plan [Member]
Stock Compensation Expense (Details) [Line Items]
Common stock, reserved for issuance	12,358,689
Common stock, reserved for issuance per share (in Dollars per share)	$ 0.0001
Shares of common stock are subject to restricted stock award			536,250		655,000
2022 Employee Stock Purchase Plan [Member]
Stock Compensation Expense (Details) [Line Items]
Common stock, reserved for issuance	1,791,416
Percentage of diluted shares outstanding	2.00%
Percentage of fair market value	85.00%
Amended and Restated 2019 Equity Incentive Plan [Member] \| Common Stock [Member]
Stock Compensation Expense (Details) [Line Items]
Aggregate number of shares authorized		10,500,000
Number of share equity value exchange ratio		23,380,173
Shares of vesting and exercise of stock options			16,378,227		18,863,654
Shares of restricted stock awards			1,064,968		1,649,962
Maximum [Member] \| 2022 Employee Stock Purchase Plan [Member]
Stock Compensation Expense (Details) [Line Items]
Common stock, reserved for issuance	75,000,000
Percentage of employee authorize payroll deduction	15.00%
Minimum [Member] \| 2022 Employee Stock Purchase Plan [Member]
Stock Compensation Expense (Details) [Line Items]
Percentage of employee authorize payroll deduction	1.00%
Nonvested Stock Options [Member]
Stock Compensation Expense (Details) [Line Items]
Granted			0	0	0	11,545,084
Nonvested Stock Warrants [Member]
Stock Compensation Expense (Details) [Line Items]
Granted					0	0
Nonvested RSAs [Member]
Stock Compensation Expense (Details) [Line Items]
Granted					2,899,372	1,391,930
Nonvested RSUs [Member]
Stock Compensation Expense (Details) [Line Items]
Granted			95,000	0	1,124,674	0
Restricted Stock Units (RSUs) [Member]
Stock Compensation Expense (Details) [Line Items]
Options granted and vesting expense (in Dollars)			$ 2,500,000	$ 1,100,000	$ 9,000,000
Restricted Stock Units (RSUs) [Member] \| Nonvested RSAs [Member]
Stock Compensation Expense (Details) [Line Items]
Granted			0	212,827

Debt (Tables)

12 Months Ended

Dec. 31, 2022

Debt [Abstract]

Schedule of Debt Outstanding

As of December 31, 2021	(in thousands)
As of December 31, 2021	Unpaid Principal		Short- term		Long- term		Unamortized Issuance Costs			Net Carrying Value
2021 Cox Convertible Promissory Note	$	15,000	$	—	$	15,000	$	—		$	15,000
2021 Convertible Promissory Notes		675		—		675		—			675
2020 Secured Convertible Promissory Note		55,000		—		55,000		(358	)		54,642
2020 Convertible Promissory Notes		2,525		2,025		500		—			2,525
2020 PPP Loan		1,123		1,123		—		—			1,123
Other loans		37		—		37		—			37
Total principal amount outstanding	$	74,360	$	3,148	$	71,212	$	(358	)	$	74,002

Commitments and Contingencies (Details) - Schedule of lease costs - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Components of total lease costs:
Operating lease expense	$ 397	$ 407	$ 1,544	$ 902
Total lease costs	$ 397	$ 407	$ 1,544	$ 902

Loss Per Share (Details) - Schedule of Antidilutive Shares in the Computation of Diluted Shares Outstanding - USD ($)	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Schedule of Antidilutive Shares in the Computation of Diluted Shares Outstanding [Abstract]
Convertible preferred stock				$ 7,209,555
Public Warrants	5,750,000	5,750,000	5,750,000	5,750,000
Private Placement Warrants	173,333	173,333	173,333	173,333
Seller Earn-out	5,312,098	5,312,098	5,312,098
Sponsor Earn-out Shares	2,156,250	2,156,250	2,156,250
Legacy FaZe preferred warrant				651,951
Unvested restricted stock award	1,601,218	1,649,962	1,649,962	49,426
Unvested restricted stock units	735,667		1,124,674
Stock options	16,812,734	18,863,654	18,863,654	19,912,281
Total potentially dilutive common stock equivalents	$ 32,541,300	$ 33,905,297	$ 35,029,971	$ 33,746,546

Commitments and Contingencies (Details) - Schedule of Lease Costs - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Components of total lease costs:
Operating lease expense	$ 397	$ 407	$ 1,544	$ 902
Total lease costs	$ 397	$ 407	$ 1,544	$ 902

Description of the Business

3 Months Ended

12 Months Ended

Mar. 31, 2023

Dec. 31, 2022

Description of the Business [Abstract]

DESCRIPTION OF THE BUSINESS

1. DESCRIPTION OF THE BUSINESS

FaZe Holdings Inc. (“FaZe” or the “Company”), is a lifestyle and media platform rooted in gaming and youth culture. The Company’s premium brand, talent network, and large audience can be monetized across a variety of products and services.

On July 19, 2022 (the “Closing Date”), pursuant to an Agreement and Plan of Merger (the “Merger Agreement”) dated as of October 24, 2021 (as amended in December 2021 and March 2022), by and among B. Riley 150 Merger Corp. (“B. Riley 150”), a special purpose acquisition company, and BRPM Merger Sub, Inc., a directly wholly owned subsidiary of B. Riley 150 (“Merger Sub”) and FaZe Clan, Inc. (“Legacy FaZe”), the parties consummated the merger of Merger Sub with and into Legacy FaZe, with Legacy FaZe continuing as the surviving corporation (the “Merger”), as well as the other transactions contemplated by the Merger Agreement (the Merger and such other transactions, the “Business Combination”). In connection with the closing of the Business Combination (the “Closing”), Legacy FaZe became a wholly owned subsidiary of B. Riley 150, which changed its name to “FaZe Holdings Inc.”

Legacy FaZe determined that it was the accounting acquirer in the Business Combination based on an analysis of the criteria outlined in Accounting Standards Codification (“ASC”) 805, Business Combinations. The Merger was accounted for as a reverse recapitalization, in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). Under this method of accounting, B. Riley 150 was treated as the acquired company for financial reporting purposes. Accordingly, the Business Combination was treated as the equivalent of Legacy FaZe issuing stock for the net assets of B. Riley 150, accompanied by a recapitalization. The net assets of B. Riley 150 were stated at historical cost, with no goodwill or other intangible assets recorded. Operations prior to the Business Combination are those of Legacy FaZe.

In accordance with guidance applicable to these circumstances, the equity structure has been retroactively restated in all comparative periods up to the Closing Date, to reflect the number of shares of the Company’s common stock issued to Legacy FaZe’s common stockholders in connection with the Business Combination. As a result, these financial statements represent the continuation of Legacy FaZe and the historical shareholders’ deficit. Common stock, preferred stock and loss per share of Legacy FaZe prior to the Business Combination have been retrospectively adjusted for the Business Combination using an exchange ratio of 2.2267 (“Equity Value Exchange Ratio”). The accumulated deficit of Legacy FaZe has been carried forward after the Business Combination.

Notice of Delisting

On March 23, 2023, the Company received a letter (the “Letter”) from the Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market (“Nasdaq”) informing the Company that its common stock, par value $0.0001 per share (the “Common Stock”), failed to comply with the $1 minimum bid price required for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2) based upon the closing bid price of the Common Stock for the 30 consecutive business days prior to the date of the Letter. The notice has no immediate effect on the listing of the Common Stock or warrants, and the Common Stock and warrants will continue to trade on The Nasdaq Capital Market under the symbols “FAZE” and “FAZEW,” respectively.

In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has been provided an initial period of 180 calendar days, or until September 19, 2023 (the “Compliance Date”), by which the Company must regain compliance with the minimum bid price requirement. To regain compliance, the closing bid price of the Common Stock must meet or exceed $1.00 per share for a minimum of ten consecutive business days at any time prior to the Compliance Date, unless the Staff exercises its discretion to extend this ten-day period pursuant to Nasdaq Listing Rule 5810(c)(3)(H).

If the Company does not regain compliance with the minimum bid price requirement by the Compliance Date, the Company may be eligible for an additional 180-calendar day compliance period. If the Company does not qualify for, or fails to regain compliance during, the second compliance period, then the Staff will provide written notification to the Company that the Common Stock will be subject to delisting. At that time, the Company may appeal the Staff’s delisting determination to the Nasdaq Hearings Panel.

1. DESCRIPTION OF THE BUSINESS

Condensed Consolidated Statements of Stockholders’ Equity (Unaudited) - USD ($) $ in Thousands	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Total
Balance at Dec. 31, 2020	$ 2	$ 3,084	$ (75,542)	$ (72,456)
Balance (in Shares) at Dec. 31, 2020	16,470,897
Issuance of common stock options and stock option reprice		1,635		1,635
Issuance of restricted stock awards		2		2
Issuance of common stock		720		720
Issuance of common stock (in Shares)	2,226,683
Issuance of common stock upon vesting of restricted stock awards (in Shares)	50,028
Exercise of stock option		36		36
Exercise of stock option (in Shares)	93,930
Net loss			(36,866)	(36,866)
Balance at Dec. 31, 2021	$ 2	5,477	(112,408)	(106,929)
Balance (in Shares) at Dec. 31, 2021	18,841,538
Stock based compensation expense		1,150		1,150
Issuance of common stock upon vesting of restricted stock awards
Issuance of common stock upon vesting of restricted stock awards (in Shares)	4,084
Exercise of stock option		64		64
Exercise of stock option (in Shares)	74,768
Net loss			(9,542)	(9,542)
Balance at Mar. 31, 2022	$ 2	6,691	(121,950)	(115,257)
Balance (in Shares) at Mar. 31, 2022	18,920,390
Balance at Dec. 31, 2021	$ 2	5,477	(112,408)	(106,929)
Balance (in Shares) at Dec. 31, 2021	18,841,538
Stock based compensation expense		10,167		10,167
Issuance of common stock in connection with litigation settlement		294		294
Issuance of common stock in connection with litigation settlement (in Shares)	28,994
Exercise of common and preferred warrants		101		101
Exercise of common and preferred warrants (in Shares)	2,332,127
Conversion of preferred stock to FaZe common stock	$ 1	33,704		33,705
Conversion of preferred stock to FaZe common stock (in Shares)	7,209,555
Conversion of convertible debt to FaZe common stock	$ 2	195,115		195,117
Conversion of convertible debt to FaZe common stock (in Shares)	19,545,406
Issuance of earn-out shares	$ 1			1
Issuance of earn-out shares (in Shares)	5,312,098
Conversion of B Riley Class B stock to FaZe common stock
Conversion of B Riley Class B stock to FaZe common stock (in Shares)	4,832,500
Recapitalization transaction, net of equity issuance costs		(17,391)		(17,391)
Recapitalization transaction, net of equity issuance costs (in Shares)	1,366,604
Proceeds from PIPE offerings	$ 1	99,999		100,000
Proceeds from PIPE offerings (in Shares)	10,000,000
Issuance of common stock upon vesting of restricted stock awards
Issuance of common stock upon vesting of restricted stock awards (in Shares)	1,466,639
Exercise of stock option		220		220
Exercise of stock option (in Shares)	576,426
Net loss			(168,534)	(168,534)
Balance at Dec. 31, 2022	$ 7	327,686	(280,942)	46,751
Balance (in Shares) at Dec. 31, 2022	71,511,887
Stock based compensation expense		2,673		2,673
Issuance of common stock upon vesting of restricted stock awards
Issuance of common stock upon vesting of restricted stock awards (in Shares)	483,251
Exercise of stock option		783		783
Exercise of stock option (in Shares)	2,050,920
Net loss			(14,040)	(14,040)
Balance at Mar. 31, 2023	$ 7	$ 331,142	$ (294,982)	$ 36,167
Balance (in Shares) at Mar. 31, 2023	74,046,058

Equity (Details) - $ / shares	3 Months Ended	12 Months Ended
Equity (Details) - $ / shares	Mar. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Equity (Details) [Line Items]
Preferred stock share authorized	1,000,000	1,000,000	1,000,000
Preferred stock per share (in Dollars per share)	$ 0.0001	$ 0.0001	$ 0.0001
Preferred stock share issued	0	0	0
Preferred stock share outstanding	0	0	0
Common stock share authorized	500,000,000	500,000,000	71,033,146
Common stock per share (in Dollars per share)	$ 0.0001	$ 0.0001	$ 0.0001
Common stock, share issued		71,511,887
Remain outstanding			8,461,706
Earn out shares, percentage		6.00%
Sponsor shares	2,156,250	2,156,250
Exercise price (in Dollars per share)	$ 11.5	$ 11.5
Common stock equals per share (in Dollars per share)	$ 18	$ 18
Common stock share issued	74,046,058	71,551,887	18,841,538
Common stock share outstanding	74,046,058	71,551,887	18,841,538
Preferred Stock [Member]
Equity (Details) [Line Items]
Preferred stock share authorized			3,545,529
Preferred stock per share (in Dollars per share)	$ 0.0001	$ 0.0001	$ 0.00001
Preferred stock share issued			3,237,800
Preferred stock share outstanding	3,237,800	3,237,800	3,237,800
Common Stock [Member]
Equity (Details) [Line Items]
Common stock share authorized	500,000,000	500,000,000	31,900,878
Common stock per share (in Dollars per share)	$ 0.0001	$ 0.0001	$ 0.00001
Common stock share issued	74,046,058	71,551,887
Common stock share outstanding	74,046,058	71,551,887
First Target Earn [Member] \| Common Stock [Member]
Equity (Details) [Line Items]
Common stock per share (in Dollars per share)	$ 12	$ 12
Second Target Earn [Member] \| Common Stock [Member]
Equity (Details) [Line Items]
Common stock per share (in Dollars per share)	14	14
Third Target Earn [Member] \| Common Stock [Member]
Equity (Details) [Line Items]
Common stock per share (in Dollars per share)	$ 16	$ 16
Sponsor Earn-Out Shares [Member]
Equity (Details) [Line Items]
Sponsor shares	2,156,250	2,156,250
Public Warrants [Member]
Equity (Details) [Line Items]
Remain outstanding	5,750,000	5,750,000
Public warrants issued	5,750,000	5,750,000
Public warrants outstanding	5,750,000	5,750,000
Exercise price (in Dollars per share)	$ 11.5	$ 11.5
Per warrant (in Dollars per share)	$ 0.01	$ 0.01

Commitments and Contingencies

3 Months Ended

12 Months Ended

Mar. 31, 2023

Dec. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

9. COMMITMENTS AND CONTINGENCIES

Operating Leases

The Company leases certain business and residential facilities under operating lease agreements that specify minimum rentals with lease terms ranging from two to two and a half years. The Company’s rent expense for the three months ended March 31, 2023 and 2022 was $0.4 million and $0.4 million, respectively. Rent expense is included in general and administrative expense in the Consolidated Statements of Operations. Scheduled rent increases, if any, are amortized on a straight-line basis over the lease term.

Our lease agreements generally do not provide an implicit borrowing rate; therefore, an internal incremental borrowing rate is determined based on information available at lease commencement date for purposes of determining the present value of lease payments. We used the incremental borrowing rate on March 31, 2023 and December 31, 2022 for all leases that commenced prior to that date. In determining this rate, which is used to determine the present value of future lease payments, we estimate the rate of interest we would pay on a collateralized basis, with similar payment terms as the lease and in a similar economic environment.

Lease Costs

(In thousands)	Three months Ended March 31, 2023		Three months Ended March 31, 2022
Components of total lease costs:
Operating lease expense	$	397	$	407
Total lease costs	$	397	$	407

Lease Positions as of March 31, 2023 and December 31, 2022

ROU lease assets and lease liabilities for our operating leases are recorded on the balance sheet as follows:

(In thousands)	March 31, 2023		December 31, 2022
Assets
Right of use asset – long term	$	2,319	$	2,693
Total right of use asset	$	2,319	$	2,693
Liabilities
Operating lease liabilities – short term	$	1,488	$	1,488
Operating lease liabilities – long term		718		1,084
Total lease liability	$	2,206	$	2,572

Lease Terms and Discount Rate

Weighted average remaining lease term (in years) – operating leases		1.4
Weighted average discount rate – operating leases		4	%

Future minimum lease payments, which include non-cancelable operating leases at March 31, 2023, are as follows:

Year ending March 31,	(In thousands)
2023 (remainder)	$	1,184
2024		1,087
2025		5
2026		3
Thereafter		—
Total minimum lease payment	$	2,279

11. COMMITMENTS AND CONTINGENCIES

Operating Leases

The Company leases certain business and residential facilities under operating lease agreements that specify minimum rentals with lease terms ranging from two to two and a half years. The Company’s rent expense for the year ended December 31, 2022 and 2021 was $1.5 million and $0.9 million, respectively. Rent expense is included in general and administrative expense in the Consolidated Statements of Operations. Scheduled rent increases, if any, are amortized on a straight-line basis over the lease term.

Our lease agreements generally do not provide an implicit borrowing rate; therefore, an internal incremental borrowing rate is determined based on information available at lease commencement date for purposes of determining the present value of lease payments. We used the incremental borrowing rate on December 31, 2022 and December 31, 2021 for all leases that commenced prior to that date. In determining this rate, which is used to determine the present value of future lease payments, we estimate the rate of interest we would pay on a collateralized basis, with similar payment terms as the lease and in a similar economic environment.

Lease Costs

(in thousands)	Year Ended December 31, 2022		Year Ended December 31, 2021
Components of total lease costs:
Operating lease expense	$	1,544	$	902
Total lease costs	$	1,544	$	902

Lease Positions as of December 31, 2022 and December 31, 2021

ROU lease assets and lease liabilities for our operating leases are recorded on the balance sheet as follows:

(in thousands)	December 31, 2022		December 31, 2021
Assets
Right of use asset – long term	$	2,693	$	—
Total right of use asset	$	2,693	$	—
Liabilities
Operating lease liabilities – short term	$	1,488	$	—
Operating lease liabilities – long term		1,084		—
Total lease liability	$	2,572	$	—

Lease Terms and Discount Rate

Weighted average remaining lease term (in years) – operating leases		1.7
Weighted average discount rate – operating leases		4	%

Future minimum lease payments, which include non-cancelable operating leases at December 31, 2022, are as follows:

Years ending December 31,	(in thousands)
2023	$	1,577
2024		1,087
2025		5
2026		3
Thereafter		—
Total minimum lease payment	$	2,672

Stock Compensation Expense (Details) - Schedule of Stock-Based Compensation Expense - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Stock Compensation Expense (Details) - Schedule of Stock-Based Compensation Expense [Line Items]
Total stock based compensation expense	$ 2,672	$ 1,150	$ 10,167	$ 1,637
Stock options [Member]
Stock Compensation Expense (Details) - Schedule of Stock-Based Compensation Expense [Line Items]
Total stock based compensation expense	6	56	469	1,635
Restricted stock awards [Member]
Stock Compensation Expense (Details) - Schedule of Stock-Based Compensation Expense [Line Items]
Total stock based compensation expense	$ 2,666	$ 1,094	$ 9,698	$ 2

Intangible Assets (Details) - Schedule of Intangible Assets - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Website development [Member]
Finite-Lived Intangible Assets [Line Items]
Website development, Useful Life	3 years	3 years	3 years
Website development, Gross Carrying Value	$ 416	$ 377	$ 211
Website development, Accumulated Amortization	208	175	75
Website development, Net Carrying Value	208	$ 202	$ 136
Talent acquisition [Member]
Finite-Lived Intangible Assets [Line Items]
Talent acquisition, Useful Life		2 years	2 years
Talent acquisition, Gross Carrying Value	1,054	$ 1,201	$ 1,653
Talent acquisition, Accumulated Amortization	603	555	1,051
Talent acquisition, Net Carrying Value	$ 451	$ 646	602
Talent acquisition [Member] \| Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Talent acquisition, Useful Life	2 years	2 years
Talent acquisition [Member] \| Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Talent acquisition, Useful Life	3 years	3 years
Intangible assets, net [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, net Gross Carrying Value	$ 1,470	$ 1,578	1,864
Intangible assets, net Accumulated Amortization	811	730	1,126
Intangible assets, net Net Carrying Value	$ 659	$ 848	$ 738

Stock Compensation Expense (Details) - Schedule of Equity Compensation Plans - shares	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Awards Reserved for Issuance [Member]
Stock Compensation Expense (Details) - Schedule of Equity Compensation Plans [Line Items]
2022 Omnibus Incentive Plan	12,358,689
2022 Employee Stock Purchase Plan	75,000,000
Amended 2019 Equity Incentive Plan	23,380,173
Awards Outstanding [Member]
Stock Compensation Expense (Details) - Schedule of Equity Compensation Plans [Line Items]
2022 Omnibus Incentive Plan	1,271,917	1,238,667
2022 Employee Stock Purchase Plan
Amended 2019 Equity Incentive Plan	22,440,250	19,977,366
Awards Available for Grant [Member]
Stock Compensation Expense (Details) - Schedule of Equity Compensation Plans [Line Items]
2022 Omnibus Incentive Plan	11,086,772	11,120,022
2022 Employee Stock Purchase Plan	75,000,000	75,000,000
Amended 2019 Equity Incentive Plan	939,923	3,402,807

Stock Compensation Expense (Details) - Schedule of Stock-Based Compensation Expense - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Stock Compensation Expense (Details) - Schedule of Stock-Based Compensation Expense [Line Items]
Total stock–based compensation expense	$ 2,672	$ 1,150	$ 10,167	$ 1,637
Stock options [Member]
Stock Compensation Expense (Details) - Schedule of Stock-Based Compensation Expense [Line Items]
Total stock–based compensation expense	6	56	469	1,635
Restricted stock awards [Member]
Stock Compensation Expense (Details) - Schedule of Stock-Based Compensation Expense [Line Items]
Total stock–based compensation expense	$ 2,666	$ 1,094	$ 9,698	$ 2

Income Taxes (Details) - Schedule of Deferred Tax Asset and Liabilities - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Deferred tax assets:
Net operating loss carryforwards	$ 34,934	$ 20,840
Capitalized Sec. 174 Costs	67
Equity based compensation	1,272	1,115
Accruals	953	3,156
Lease Liability	720
Nondeductible Interest Carryover	2,089	1,148
Deferred Rent		2
Deferred Revenue		2,211
Fixed Assets	99	85
Other	173	140
Total Deferred Tax Assets	40,307	28,697
Less: Valuation Allowance	(39,553)	(28,697)
Deferred tax asset, net	754
Deferred tax Liabilities:
Right of Use Asset	(754)
Total deferred tax liabilities	(754)
Deferred taxes

Stock Compensation Expense (Details) - Schedule of Nonvested RSUs - Restricted Stock Units (RSUs) [Member]	12 Months Ended
	Dec. 31, 2022 $ / shares shares
Stock Compensation Expense (Details) - Schedule of Nonvested RSUs [Line Items]
Number, Nonvested ,Beginning balance
Weighted Average Price, Beginning balance (in Dollars per share) \| $ / shares
Number, Granted	1,124,674
Weighted Average Price, Granted (in Dollars per share) \| $ / shares	$ 2.68
Number, Vested	(422,257)
Weighted Average Price, Vested (in Dollars per share) \| $ / shares	$ 2.5
Number, Forfeited
Number, Nonvested, Ending balance	702,417
Weighted Average Price, Nonvested, Ending balance (in Dollars per share) \| $ / shares	$ 2.79

Property, Equipment and Leasehold Improvements (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 0.5	$ 0.1	$ 1.3	$ 0.5

Private Placement Warrants and Recurring Fair Value Measurements (Details) - Schedule of Changes in the Fair Value of the Private placement Warrants Liability - USD ($) $ in Thousands	3 Months Ended	5 Months Ended
	Mar. 31, 2023	Dec. 31, 2022	Dec. 30, 2022
Schedule of Changes in the Fair Value of the Private Placement Warrants Liability [Abstract]
Warrant liabilities at beginning		$ 114	$ 114
Change in fair value of warrant liabilities	$ (13)	$ (90)	(90)
Warrant liabilities at ending	$ 11		$ 24

Subsequent Events

3 Months Ended

12 Months Ended

Mar. 31, 2023

Dec. 31, 2022

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

12. SUBSEQUENT EVENTS

In preparing the consolidated financial statements, the Company has evaluated subsequent events through May 12, 2023, which is the date the Condensed Consolidated Financial Statements were available for issuance.

On May 10, 2023, Company, and YA II PN, Ltd., a Cayman Islands exempt limited partnership managed by Yorkville Advisors Global, LP (the “Investor”), entered into a Standby Equity Purchase Agreement (the “SEPA”).

The Company will have the right to issue and sell to the Investor, from time to time, as provided in the SEPA, and the Investor shall purchase from the Company, up to $25 million in aggregate gross purchase price (the “Commitment Amount”) of the newly issued shares of the Company’s common stock, par value $0.0001 (the “Common Stock”) (each such sale, an “Advance”) by delivering written notice to the Investor (each, an “Advance Notice” and the date on which the Company is deemed to have delivered an Advance Notice, the “Advance Notice Date”). The Common Stock purchased pursuant to an Advance will be purchased at a price equal to 97% of the lowest daily VWAP of the Common Stock during the three consecutive trading days commencing on the Advance Notice Date. “VWAP” means, for any trading day, the daily volume weighted average price of the Common Stock for such trading day on the Nasdaq Stock Market during regular trading hours as reported by Bloomberg L.P.

The issuance of the Common Stock under the SEPA will be subject to certain limitations, including that (i) the Investor may not purchase any Common Stock that would result in it owning more than 4.99% of the Company’s Common Stock or (ii) the aggregate number of Common Stock issued pursuant to the SEPA cannot exceed 19.9% of the Company’s Common Stock as of as of the date of the SEPA (referred to as the “Exchange Cap”). The Exchange Cap shall not be applicable if: (i) the Company’s stockholders have approved the issuance of Common Stock in excess of the Exchange Cap in accordance with the applicable rules of the Principal Market or (ii) to the extent that (and only for so long as) the average price for the issuance of Common Stock equals or exceed the lower of (i) the Nasdaq Official Closing Price (as reflected on Nasdaq.com) immediately preceding the date of the SEPA; or (ii) the average Nasdaq Official Closing Price for the five Trading Days immediately preceding the date of the SEPA.
Pursuant to the terms of the SEPA, the Company shall prepare and file with the SEC a registration statement (the “Registration Statement”) or multiple Registration Statements registering for resale of the Common Stock issuable to the Investor under the SEPA. The Company in its sole discretion may choose when to file such Registration Statements; provided, however, that the Company shall not have the ability to request any Advances until the effectiveness of a Registration Statement.

As consideration for the Investor’s commitment to purchase Common Stock at the Company’s direction upon the terms and subject to the conditions set forth in the SEPA, the Company will issue 487,995 shares of Common Stock to the Investor.

The SEPA shall terminate automatically on the earliest of (i) the first day of the month next following the 36-month anniversary of the date of the SEPA and (ii) the date on which the Investor shall have made payment of Common Stock pursuant to the SEPA for Common Stock equal to the Commitment Amount. The SEPA may be terminated at any time by the mutual written consent of the parties to the SEPA, effective as of the date of such mutual written consent unless otherwise provided in such written consent, or by the Company upon five trading days’ prior written notice to the Investor subject to the terms of the SEPA.

16. SUBSEQUENT EVENTS

In preparing the consolidated financial statements, the Company has evaluated subsequent events through April 4, 2023, which is the date the consolidated financial statements were issued.

On February 16, 2023, the Company announced to its employees a reduction in workforce to streamline its team structure in support of its business priorities. The severance for the first quarter of 2023 related to the reduction in workforce is estimated at $0.1 million.

On March 29, 2023, Calvin “Snoop Dogg” Broadus, Jr. notified the Company that he is resigning from the Board of Directors of the Company effective immediately. Mr. Broadus’s resignation was not the result of any disagreement with the Company or any of its subsidiaries.

Notice of Delisting

In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has been provided an initial period of 180 calendar days, or until September 19, 2023 (the “Compliance Date”), by which the Company has to regain compliance with the minimum bid price requirement. To regain compliance, the closing bid price of the Common Stock must meet or exceed $1.00 per share for a minimum of ten consecutive business days at any time prior to the Compliance Date, unless the Staff exercises its discretion to extend this ten-day period pursuant to Nasdaq Listing Rule 5810(c)(3)(H).

Stock Compensation Expense (Details) - Schedule of Nonvested Stock Options - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Nonvested Stock Warrants [Member]
Stock Compensation Expense (Details) - Schedule of Nonvested Stock Options [Line Items]
Number, Outstanding Begining balance	670,008
Weighted Average Exercise Price, Outstanding Begining balance	$ 0.38
Number, Granted		0	0
Weighted- Average Exercise Price, Granted
Number, Vested	(81,101)
Weighted- Average Exercise Price, Vested	$ 0.38
Number, Forfeited
Weighted- Average Exercise Price, Forfeited
Number, Outstanding Ending balance	588,907	670,008
Weighted Average Exercise Price, Outstanding Ending balance	$ 0.38	$ 0.38
Nonvested RSAs [Member]
Stock Compensation Expense (Details) - Schedule of Nonvested Stock Options [Line Items]
Number, Outstanding Begining balance	1,649,962
Weighted Average Exercise Price, Outstanding Begining balance	$ 6.27
Number, Granted		2,899,372	1,391,930
Number, Vested	(48,744)
Weighted- Average Exercise Price, Vested	$ 6	$ 5.99
Number, Outstanding Ending balance	1,601,218	1,649,962
Weighted Average Exercise Price, Outstanding Ending balance	$ 6.28	$ 6.27

Property, Equipment and Leasehold Improvements

3 Months Ended

12 Months Ended

Mar. 31, 2023

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS

4. PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS

Property, equipment and leasehold improvements as of March 31, 2023 and December 31, 2022 consisted of the following:

	(In thousands)
	March 31, 2023			December 31, 2022
Furniture/Fixtures	$	897		$	897
Computer equipment		3,681			3,640
Vehicles		106			106
Leasehold improvements		862			801
Subtotal		5,546			5,444
Less: Accumulated depreciation		(2,087	)		(1,623	)
Property, equipment and leasehold improvements, net	$	3,459		$	3,821

Depreciation expense totaled $0.5 million and $0.1 million for the three months ended March 31, 2023 and 2022, respectively, During the three months ended March 31, 2023, the Company disposed of certain leasehold improvements that were fully depreciated at the time of disposal, and there was no gain or loss on disposal.

5. PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS

Property, equipment and leasehold improvements as of December 31, 2022 and December 31, 2021 consisted of the following:

	(in thousands)
	December 31, 2022			December 31, 2021
Furniture/Fixtures	$	897		$	159
Computer equipment		3,640			708
Vehicles		106			106
Leasehold improvements		801			731
Subtotal		5,444			1,704
Less: Accumulated depreciation		(1,623	)		(779	)
Property, equipment and leasehold improvements, net	$	3,821		$	925

Depreciation expense totaled $1.3 million and $0.5 million for the year ended December 31, 2022 and 2021, respectively, During the year ended December 31, 2022, the Company disposed of certain leasehold improvements that were fully depreciated at the time of disposal, and there was no gain or loss on disposal.

Condensed Consolidated Statements of Operations (unaudited) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Revenues	$ 12,550	$ 15,804	$ 70,021	$ 52,852
Cost of revenues	12,081	12,211	54,876	43,876
Gross profit	469	3,593	15,145	8,976
Operating expenses:
General and administrative	13,877	10,128	59,436	37,078
Sales and marketing	213	1,145	3,307	3,352
Impairment of content assets			1,073
Loss from operations	(13,621)	(7,680)	(48,671)	(31,454)
Other expense:
Interest (income) expense, net	(162)	1,851	4,483	5,467
Change in fair value of warrant liabilities	(13)		(90)
Loss on debt extinguishment			115,292
Other, net	594	11	178	(55)
Total other expense:	419	1,862	119,863	5,412
Net loss	$ (14,040)	$ (9,542)	$ (168,534)	$ (36,866)
Net loss per common share basic (in Dollars per share)	$ (0.22)	$ (0.46)	$ (4.23)	$ (1.92)
Weighted-average number of common shares outstanding basic (in Shares)	64,071,686	20,640,022	39,872,308	19,187,873

Property, Equipment and Leasehold Improvements (Details) - Schedule of Property, Equipment and Leasehold Improvements - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Subtotal	$ 5,546	$ 5,444	$ 1,704
Less: Accumulated depreciation	(2,087)	(1,623)	(779)
Property, equipment and leasehold improvements, net	3,459	3,821	925
Furniture / Fixtures [Member]
Property, Plant and Equipment [Line Items]
Subtotal	897	897	159
Computer equipment [Member]
Property, Plant and Equipment [Line Items]
Subtotal	3,681	3,640	708
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Subtotal	106	106	106
Leasehold improvements [Member]
Property, Plant and Equipment [Line Items]
Subtotal	$ 862	$ 801	$ 731

Property, Equipment and Leasehold Improvements (Details) - Schedule of Property, Equipment and Leasehold Improvements - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Subtotal	$ 5,546	$ 5,444	$ 1,704
Less: Accumulated depreciation	(2,087)	(1,623)	(779)
Property, equipment and leasehold improvements, net	3,459	3,821	925
Furniture / Fixtures [Member]
Property, Plant and Equipment [Line Items]
Subtotal	897	897	159
Computer equipment [Member]
Property, Plant and Equipment [Line Items]
Subtotal	3,681	3,640	708
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Subtotal	106	106	106
Leasehold improvements [Member]
Property, Plant and Equipment [Line Items]
Subtotal	$ 862	$ 801	$ 731

Accounting Policies, by Policy (Policies)

3 Months Ended

12 Months Ended

Mar. 31, 2023

Dec. 31, 2022

Accounting Policies [Abstract]

Basis of Presentation

Principles of consolidation

The consolidated financial statements include the accounts of FaZe Holdings Inc. and its wholly owned subsidiary. All significant intercompany balances and transactions have been eliminated.

Voluntary Change in Accounting Principle

(in thousands)	For the twelve months ended December 31, 2021
(in thousands)	Prior to change		Effect of Change			As Adjusted
Cost of revenues	$	41,553	$	2,323		$	43,876
General and administrative		39,401		(2,323	)		37,078
Gross profit		11,299		(2,323	)		8,976

Use of Estimates

COVID-19

Content Asset, net

Exploitation costs such as marketing, advertising, publicity, promotion, and other distribution expenses directly connected with the distribution of the content asset are expensed as incurred.

Content Asset, net

The Company’s policy is to amortize the content asset once the content airs. Given that the content was fully written off prior to airing, no amortization expense was recorded for the years ended December 31, 2022 and 2021. The Company does not own any purchased or licensed programming content.

Exploitation costs such as marketing, advertising, publicity, promotion, and other distribution expenses directly connected with the distribution of the content asset are expensed as incurred.

Fixed Assets

Revenue Recognition and Contract Balances

The following table disaggregates the Company’s revenue by major type for the three months ended March 31, 2023, and 2022:

	(In thousands)
	Three months ended March 31,
	2023		2022
Brand sponsorships	$	6,263	$	8,060
Content		3,028		4,681
Consumer products		388		403
Esports		2,847		2,426
Other		24		234
Total revenue	$	12,550	$	15,804

The section below describes the Company’s revenue recognition policies and significant judgments in further detail for each major revenue source of the Company.

Brand Sponsorships

Content

Principal Versus Agent Considerations

Consumer Products

• the Company is the party that is primarily responsible for fulfilling the promise to provide the specified good or service,

• the Company has inventory risk before the good is transferred to the customer, and

• the Company is the party that has discretion in establishing pricing for the specified good or service.

Based on management’s evaluation of the above indicators, the Company reports consumer products revenues on a gross basis.

Esports

Transaction Price Allocated to the Remaining Performance Obligations

Revenue Recognition and Contract Balances

The Company generally records a receivable related to revenue when the Company has an unconditional right to invoice and receive payment. Contract assets arise from contracts when revenue is recognized over time and the amount of revenue recognized, including management’s estimate of variable consideration that has been included in the transaction price exceeds the amount billed to the customer. These amounts are included in contract assets until the right to payment is no longer conditional on events other than the passage of time. These contract assets are reclassified to receivables when the right to consideration becomes unconditional. For the year ending December 31, 2022, and 2021, no impairment was recorded from contract assets.

Contract liabilities are recorded in the event that the Company bills for services in advance of the time the services are performed, or when cash payments are received or due in advance of satisfying the Company’s performance obligations, even if amounts are refundable. Contract liabilities recorded at December 31, 2022, and December 31, 2021, represent the Company’s accounting for the timing difference between when the customer is billed or funds are received and when the performance obligation is satisfied. During the year ended December 31, 2022 and 2021, the Company recognized $7.8 million and $0.8 million as revenue that was relating to the contract liability balance as of January 1, 2022 and 2021, respectively.

The following table disaggregates the Company’s revenue by major type for the year ended December 31, 2022, and 2021:

	(in thousands)
	Year ended December 31,
	2022		2021
Brand sponsorships	$	42,096	$	24,867
Content		14,497		16,068
Consumer products		3,455		5,751
Esports		9,385		5,846
Other		588		320
Total revenue	$	70,021	$	52,852

The section below describes the Company’s revenue recognition policies and significant judgments in further detail for each major revenue source of the Company.

Brand Sponsorships

Content

The Company grants exclusive licenses to customers for certain content produced by the Company’s talent. The Company grants the customer a license to the intellectual property, which is the content and its use in generating advertising revenues, for a pre-determined period, for an amount paid by the customer upon execution of the contract. The Company’s only performance obligation is to license the content for use in generating advertising revenues, and recognizes the full contract amount at the point at which the Company provides the customer access to the content, which is at the execution of the contract. The Company has no further performance obligations under these types of contracts and does not anticipate generating any additional revenue from these arrangements apart from the contract amount.

Principal Versus Agent Considerations

A significant amount of the Company’s brand sponsorship and content revenues are generated from the Company’s talent, who are under exclusive, multi-year contracts. The Company’s talent consists of highly trained independent contractors, whose compensation is tied to the revenue that they generate. Management has evaluated the terms of the Company’s brand sponsorship and content agreements and has concluded the Company is the principal. Brand sponsorship and content revenues are reported on a gross basis, while revenue-sharing and other fees paid to the Company’s talent are recorded as cost of revenues. The Company owns the brand and intellectual property, takes primary responsibility for delivery of services, and exercises control over content generation and monetization. The Company contracts directly with Google on its Company operated channels, and the talent contracts directly with Google on their own channels. As part of the Company’s contracts with its talent, the Company agrees to serve as the talent’s exclusive management company as it relates to any and all type of work the talent may perform, including content creation and advertising revenue generated from the content. While the talent owns the content they create while they are under contract with the Company, the talent grants the Company an exclusive perpetual license to the content, and the Company grants limited usage rights of that content back to the talent, conditional upon them complying with their contract. Furthermore, all income earned from services provided by the talent related to gaming, Esports, content creation, or the business of the Company, which includes revenue from advertising via talent content, is subject to the talent agreement and is payable to the Company. In addition, the Company’s contracts with its talent specify rules and restrictions on the content the talent can create and post. As such, through its contracts with talent, the Company is the principal because the Company is the entity exercising primary control over the content generated in the YouTube channels being monetized.

Consumer Products

• the Company is the party that is primarily responsible for fulfilling the promise to provide the specified good or service,

• the Company has inventory risk before the good is transferred to the customer, and

• the Company is the party that has discretion in establishing pricing for the specified good or service.

Based on management’s evaluation of the above indicators, the Company reports consumer products revenues on a gross basis.

Esports

Transaction Price Allocated to the Remaining Performance Obligations

Warrants

The Company accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in ASC 480, Distinguishing Liabilities from Equity and ASC 815, Derivatives and Hedging. Warrants that meet the definition of a derivative financial instrument and the equity scope exception in ASC 815-10-15-74(a) are classified as equity, and are not subject to remeasurement provided that the Company continues to meet the criteria for equity classification. Warrants that are accounted for as equity-classified are further discussed in Note 9, Equity. Warrants that are classified as liabilities are accounted for at fair value and remeasured at each reporting date until exercise, expiration, or modification that results in equity classification. Any change in the fair value of the warrants is recognized as change in fair value of warrant liabilities in the Consolidated Statements of Operations. The classification of warrants, including whether warrants should be recorded as liabilities or as equity, is

Stock-Based Compensation

Fair Value Measurement

		Level 1:		Quoted prices in active markets for identical assets or liabilities
		Level 2:		Quoted prices for similar assets and liabilities in active markets or inputs other than quoted prices which are observable for the assets or liabilities
		Level 3:		Unobservable inputs which are supported by little or no market activity

The carrying amount of the Company’s financial instruments, including cash, accounts receivable, notes receivable, and accounts payable, approximate fair value due to their short-term nature.

See Note 6, Private Placement Warrants and Recurring Fair Value Measurements, for additional information on the Company’s liabilities measured at fair value.

Fair Value Measurement

Level 1: Quoted prices in active markets for identical assets or liabilities

Level 2: Quoted prices for similar assets and liabilities in active markets or inputs other than quoted prices which are observable for the assets or liabilities

Level 3: Unobservable inputs which are supported by little or no market activity

The carrying amount of the Company’s financial instruments, including cash, accounts receivable, notes receivable, and accounts payable, approximate fair value due to their short-term nature.

See Note 7, Private Placement Warrants and Recurring Fair Value Measurements, for additional information on the Company’s liabilities measured at fair value.

Earnings (Loss) Per Share

Basic earnings (loss) per share is computed by dividing net earnings (loss) attributable to the Company by the number of weighted average shares of the Company’s common stock outstanding during the period. Diluted earnings (loss) per share is computed by dividing net earnings (loss) attributable to the Company by the number of weighted-average shares of the Company’s common stock outstanding during the period after adjusting for the impact of securities that would have a dilutive effect on earnings (loss) per share. As the Company has incurred losses in all periods presented, all potentially dilutive securities are antidilutive. See Note 13, Loss Per Share, for additional information on dilutive securities.

Segment Reporting

Recently Adopted Accounting Pronouncements

Accounting Pronouncements Not Yet Adopted

Out-of-Period Adjustment

Private Placement Warrants and Recurring Fair Value Measurements (Details) - Schedule of Changes in the Fair Value of the Private Placement Warrants Liability - USD ($) $ in Thousands	3 Months Ended	5 Months Ended
	Mar. 31, 2023	Dec. 31, 2022	Dec. 30, 2022
Schedule of Changes in the Fair Value of the Private Placement Warrants Liability [Abstract]
Private warrant liability at January 1, 2022	$ 24	$ 114	$ 114
Change in fair value of private warrant liability	$ (13)	(90)	$ (90)
Private warrant liability at June 30, 2022		$ 24

Summary of Significant Accounting Policies (Details) - Schedule of Disaggregates the Company’s Revenue by Major Type - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Total revenue	$ 12,550	$ 15,804	$ 70,021	$ 52,852
Brand sponsorships [Member]
Disaggregation of Revenue [Line Items]
Total revenue	6,263	8,060	42,096	24,867
Content [Member]
Disaggregation of Revenue [Line Items]
Total revenue	3,028	4,681	14,497	16,068
Consumer products [Member]
Disaggregation of Revenue [Line Items]
Total revenue	388	403	3,455	5,751
Esports [Member]
Disaggregation of Revenue [Line Items]
Total revenue	2,847	2,426	9,385	5,846
Other [Member]
Disaggregation of Revenue [Line Items]
Total revenue	$ 24	$ 234	$ 588	$ 320

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Business Combination (Details)	12 Months Ended
Business Combination (Details)	Dec. 31, 2022
Business Combinations [Abstract]
Business combination, description	Redemption of 15,883,395 shares of B. Riley 150 public shares that occurred subsequent to B. Riley 150 stockholders exercising their right to redeem public shares for their pro rata share of the trust account;• 10,000,000 shares of the Company’s common stock at a purchase price of $10.00 per share were sold and issued for an aggregate purchase price of $100.0 million pursuant to the subscription agreements entered in connection with the PIPE investment, including purchases made by the Company PIPE investor, sponsor related PIPE investors, and third-party investors, and inclusive of shares issued to the sponsor pursuant to the backstop commitment under the sponsor support agreement, representing the portion of the PIPE investment not purchased by third-party investors;• 525,782 shares of Legacy FaZe’s options to its executives, 1,450,914 shares of Legacy FaZe options, representing 75% of the unvested Legacy FaZe’s options outstanding under its existing incentive plans that remain unvested as of the effective time were vested;• 42,441 shares of the Company’s restricted stock awards were vested at the Closing, pursuant to existing contractual terms. In addition, 923,886 shares of the Company’s restricted stock awards vested 90 days after the Closing, pursuant to amendments to certain restricted stock awards entered prior to the Closing;• 1,047,623 shares of Legacy FaZe’s warrants (including 292,790 shares of preferred stock warrants and 754,833 shares of common stock warrants) were exercised into Legacy FaZe’s common stock and preferred stock, respectively;• 3,237,800 shares of Legacy FaZe’s preferred stock were converted into Legacy FaZe common stock on a one-to-one basis;• $72.9 million of Legacy FaZe’s convertible debt (including 2021 Cox Convertible Promissory Notes, 2021 Convertible Promissory Notes, 2020 Secured Convertible Note Purchase Agreements and Secured Convertible Promissory Notes, and 2020 Convertible Promissory Notes) were converted into Legacy FaZe common stock, with $6.9 million accrued interest converted into the common stock, and $2.6 million accrued interest settled in cash;• All 22,902,063 shares of issued and outstanding Legacy FaZe’s common stock (including shares of its common stock issued pursuant to the exercise of common stock and preferred stock purchase warrants and the conversion of its convertible debts and the preferred stocks) were surrendered and exchanged into 50,995,637 shares of the Company’s common stock calculated using the Equity Value Exchange Ratio;• The Company entered into earn-out agreements to remove restrictions of legally outstanding shares if certain share price milestones are achieved. Refer to Note 9, Equity; and• The Company assumed public and private placement warrants from B. Riley 150. Refer to Note 9, Equity, for the public warrants (the “Public Warrants”) and Note 7, Private Placement Warrants and Recurring Fair Value Measurements, for the Private Placement Warrants.As of the Closing Date and following the completion of the Business Combination, the Company had the following outstanding securities:• 70,132,639 shares of common stock, with a par value of $0.0001 per share.• 5,923,333 warrants, consisting of 5,750,000 Public Warrants and 173,333 Private Placement Warrants.As a result of the Business Combination, Legacy FaZe received net cash consideration of $57.8 million. Legacy FaZe and B. Riley 150 incurred costs that were considered direct and incremental costs associated with the transaction. These costs amounted to $25.9 million and were treated as a reduction of additional paid-in capital.

Stock Compensation Expense (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2023

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Schedule of Equity Incentive Plan

The following table contains information about the Company’s equity compensation plans as of March 31, 2023:

	Awards Reserved for Issuance	Awards Outstanding	Awards Available for Grant
2022 Omnibus Incentive Plan	12,358,689	1,271,917	11,086,772
2022 Employee Stock Purchase Plan	75,000,000	—	75,000,000
Amended 2019 Equity Incentive Plan	23,380,173	22,440,250	939,923

The following table contains information about the plan as of December 31, 2022:

	Awards Reserved for Issuance	Awards Outstanding	Awards Available for Grant
2022 Omnibus Incentive Plan	12,358,689	1,238,667	11,120,022
2022 Employee Stock Purchase Plan	75,000,000	—	75,000,000
Amended 2019 Equity Incentive Plan	23,380,173	19,977,366	3,402,807

Schedule of Stock-Based Compensation Expense

Stock-based compensation expense for the periods presented was comprised of the following, which were included in general and administrative expenses within the Consolidated Statements of Operations:

	(In thousands)
	For the three months ended March 31,
	2023		2022
Stock options	$	6	$	56
Restricted stock awards		2,666		1,094
Total stock-based compensation expense	$	2,672	$	1,150

	(in thousands)
	For the year ended December 31,
	2022		2021
Stock options	$	469	$	1,635
Restricted stock awards		9,698		2
Total stock – based compensation expense	$	10,167	$	1,637

Schedule of Vested and Nonvested Stock

The following is an analysis of the stock option grant activity:

Vested and Nonvested Stock Options	Number		Weighted Average Exercise Price		Weighted Average Remaining Life
Outstanding December 31, 2021	19,912,281		$	0.38	4.86
Granted	—			—	—
Exercised	(1,048,627	)		0.38	—
Expired or forfeited	—			—	—
Outstanding December 31, 2022	18,863,654		$	0.38	4.13

Vested and Nonvested Stock Warrants	Number		Weighted Average Exercise Price		Weighted Average Remaining Life
Outstanding December 31, 2021	6,575,284		$	10.41	5.79
Granted	—			—	—
Exercised	(651,951	)		0.53	—
Expired or forfeited	—			—	—
Outstanding December 31, 2022	5,923,333		$	11.50	4.55

Schedule of Nonvested Stock Options

Nonvested Stock Options	Number		Weighted- Average Exercise Price
Nonvested on December 31, 2022	670,008		$	0.38
Granted	—			—
Vested	(81,101	)		0.38
Forfeited	—			—
Nonvested on March 31, 2023	588,907		$	0.38

Nonvested RSAs	Number		Weighted Average Price
Nonvested December 31, 2022	1,649,962		$	6.27
Granted	—			—
Vested	(48,744	)		6.00
Forfeited	—
Nonvested March 31, 2023	1,601,218		$	6.28

Nonvested Stock Options	Number		Weighted- Average Exercise Price
Nonvested on December 31, 2021	6,867,852		$	0.38
Granted	—			—
Vested	(6,197,824	)		0.38
Forfeited	—			—
Nonvested on September 30, 2022	670,008		$	0.38

Nonvested RSAs	Number		Weighted Average Price
Nonvested December 31, 2021	167,277		$	5.78
Granted	1,774,698			6.30
Vested	(289,013	)		5.99
Forfeited	—			—
Nonvested December 31, 2022	1,649,962		$	6.27

Schedule of Vested and Nonvested Stock

The following is an analysis of the stock option grant activity during the three months ended March 31, 2023:

Vested and Nonvested Stock Options	Number		Weighted Average Exercise Price		Weighted Average Remaining Life
Outstanding December 31, 2022	18,863,654		$	0.38	4.13
Granted	—			—	—
Exercised	(2,050,920	)		0.38	—
Expired or forfeited	—			—	—
Outstanding March 31, 2023	16,812,734		$	0.38	3.88

Vested and Nonvested Stock Warrants	Number	Weighted Average Exercise Price		Weighted Average Remaining Life
Outstanding December 31, 2022	5,923,333	$	11.50	4.55
Granted	—		—	—
Exercised	—		—	—
Expired or forfeited	—		—	—
Outstanding March 31, 2023	5,923,333	$	11.50	4.30

Nonvested Stock Warrants	Number	Weighted- Average Exercise Price
Nonvested on December 31, 2021	—	$	—
Granted	—		—
Vested	—		—
Forfeited	—		—
Nonvested on December 31, 2022	—	$	—

Schedule of Nonvested RSUs

A summary of Restricted Stock Units (“RSUs”) issuances during the three months ended March 31, 2023 is as follows:

Nonvested RSUs	Number		Weighted Average Price
Nonvested December 31, 2022	702,417		$	2.79
Granted	95,000			1.09
Vested	(57,250	)		2.63
Forfeited	(4,500	)
Nonvested March 31, 2023	735,667		$	2.48

A summary of Restricted Stock Units (“RSUs”) issuances are as follows:

Nonvested RSUs	Number		Weighted Average Price
Nonvested December 31, 2021	—		$	—
Granted	1,124,674			2.68
Vested	(422,257	)		2.50
Forfeited	—			—
Nonvested December 31, 2022	702,417		$	2.79

Commitments and Contingencies (Details) - Schedule of Lease Terms and Discount Rate	Mar. 31, 2023	Dec. 31, 2022
Schedule of Lease Terms and Discount Rate [Abstract]
Weighted average remaining lease term (in years) – operating leases	1 year 4 months 24 days	1 year 8 months 12 days
Weighted average discount rate – operating leases	4.00%	4.00%

Intangible Assets (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2023

Dec. 31, 2022

Intangible Assets [Abstract]

Schedule of Intangible Assets

		(In thousands)
As of March 31, 2023	Useful Life	Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Website development	3 years	$	416	$	208	$	208
Talent acquisition	2 – 3 years		1,054		603		451
Intangible assets, net		$	1,470	$	811	$	659

		(In thousands)
As of December 31, 2022	Useful Life	Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Website development	3 years	$	377	$	175	$	202
Talent acquisition	2 – 3 years		1,201		555		646
Intangible assets, net		$	1,578	$	730	$	848

As of December 31, 2022	Useful Life	(in thousands)
As of December 31, 2022	Useful Life	Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Website development	3 years	$	377	$	175	$	202
Talent acquisition	2 – 3 years		1,201		555		646
Intangible assets, net		$	1,578	$	730	$	848

As of December 31, 2021	Useful Life	(in thousands)
As of December 31, 2021	Useful Life	Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Website development	3 years	$	211	$	75	$	136
Talent acquisition	2 – 3 years		1,653		1,051		602
Intangible assets, net		$	1,864	$	1,126	$	738

Schedule of Estimated Future Amortization of Intangible Assets

Years ending December 31,	(In thousands)
2023 (remainder)	$	308
2024		299
2025		51
2026		1
Total future amortization of amortizable intangible assets	$	659

Years ending December 31,	(in thousands)
2023	$	478
2024		332
2025		38
2026		—
Total future amortization of amortizable intangible assets	$	848

Description of the Business (Details) - USD ($)	3 Months Ended	12 Months Ended
Description of the Business (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Description of the Business (Details) [Line Items]
Equity value exchange ratio (in Shares)	2.2267
Common stock, price per share	$ 0.0001
Minimum bid price (in Dollars)
Common Stock [Member]
Description of the Business (Details) [Line Items]
Common stock, price per share	$ 1
Minimum bid price (in Dollars)
Minimum [Member]
Description of the Business (Details) [Line Items]
Minimum bid price (in Dollars)	$ 1

Related Party Transactions (Details) - USD ($) $ in Thousands		3 Months Ended		12 Months Ended
	Feb. 17, 2022	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Related Party Transactions (Details) [Line Items]
Stock issued during period, value, restricted stock awards
Related party transaction, amount of transaction	$ 50,000
Snoop Dogg [Member]
Related Party Transactions (Details) [Line Items]
Stock issued during period, value, restricted stock awards	1,857,154
Cordell Broadus [Member]
Related Party Transactions (Details) [Line Items]
Stock issued during period, value, restricted stock awards	247,615
Boss Lady Entertainment [Member]
Related Party Transactions (Details) [Line Items]
Stock issued during period, value, restricted stock awards	247,615
SMAC Entertainment [Member]
Related Party Transactions (Details) [Line Items]
Stock issued during period, value, restricted stock awards	$ 247,615

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current Assets:
Cash	$ 26,834	$ 37,207	$ 17,018
Accounts receivable, net	3,888	8,525	6,266
Contract assets	7,240	6,223	4,118
Inventory			6
Content asset, net			474
Prepaid expenses and other assets	4,921	6,768	6,190
Total Current Assets	42,883	58,723	34,072
Restricted cash	600	600	600
Property, equipment and leasehold improvements, net	3,459	3,821	925
Operating lease right-of-use assets	2,319	2,693
Intangible assets, net	659	848	738
Other long-term assets	511	553	733
TOTAL ASSETS	50,431	67,238	37,068
Current liabilities:
Accounts payable and accrued expenses	9,550	14,397	28,381
Short-term debt			3,148
Contract liabilities	2,497	3,494	7,902
Operating lease liabilities, current	1,488	1,488
Other current liabilities			7
Total Current Liabilities	13,535	19,379	39,438
Long-term debt, net of discounts (Note 5)			70,854
Warrant liabilities	11	24
Operating lease liabilities, non-current	718	1,084
Total Liabilities	14,264	20,487	110,292
COMMITMENTS AND CONTINGENCIES (Note 9)
MEZZANINE EQUITY:
Series A preferred stock,value			33,705
STOCKHOLDERS’ EQUITY (DEFICIT):
Preferred stock, value
Common stock, value	7	7	2
Additional paid-in capital	331,142	327,686	5,477
Accumulated deficit	(294,982)	(280,942)	(112,408)
Total Stockholders’ Equity	36,167	46,751	(106,929)
TOTAL LIABILITIES, MEZZANINE EQUITY, AND STOCKHOLDERS’ EQUITY	$ 50,431	$ 67,238	$ 37,068

Intangible Assets

3 Months Ended

12 Months Ended

Mar. 31, 2023

Dec. 31, 2022

Intangible Assets [Abstract]

INTANGIBLE ASSETS

5. INTANGIBLE ASSETS

Intangible assets as of March 31, 2023 and December 31, 2022 consisted of the following:

		(In thousands)
As of March 31, 2023	Useful Life	Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Website development	3 years	$	416	$	208	$	208
Talent acquisition	2 – 3 years		1,054		603		451
Intangible assets, net		$	1,470	$	811	$	659

		(In thousands)
As of December 31, 2022	Useful Life	Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Website development	3 years	$	377	$	175	$	202
Talent acquisition	2 – 3 years		1,201		555		646
Intangible assets, net		$	1,578	$	730	$	848

Amortization expense totaled $0.2 million and $0.1 million for the three months ended March 31, 2023 and 2022, respectively.

The following table presents the estimated future amortization of intangible assets:

Years ending December 31,	(In thousands)
2023 (remainder)	$	308
2024		299
2025		51
2026		1
Total future amortization of amortizable intangible assets	$	659

The Company did not have any fully amortized intangible assets as of March 31, 2023 and as of March 31, 2022.

6. INTANGIBLE ASSETS

Intangible assets as of December 31, 2022 and December 31, 2021 consisted of the following:

As of December 31, 2022	Useful Life	(in thousands)
As of December 31, 2022	Useful Life	Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Website development	3 years	$	377	$	175	$	202
Talent acquisition	2 – 3 years		1,201		555		646
Intangible assets, net		$	1,578	$	730	$	848

As of December 31, 2021	Useful Life	(in thousands)
As of December 31, 2021	Useful Life	Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Website development	3 years	$	211	$	75	$	136
Talent acquisition	2 – 3 years		1,653		1,051		602
Intangible assets, net		$	1,864	$	1,126	$	738

Amortization expense totaled $0.6 million and $0.5 million for the year ended December 31, 2022 and 2021, respectively.

The following table presents the estimated future amortization of intangible assets:

Years ending December 31,	(in thousands)
2023	$	478
2024		332
2025		38
2026		—
Total future amortization of amortizable intangible assets	$	848

During the year ended December 31, 2022, the Company removed $1.0 million of intangible assets, that were fully amortized from intangible assets and accumulated amortization, and there was no gain or loss on the removal. The Company did not have any fully amortized intangible assets as of December 31, 2022.

Debt (Details) - Schedule of Debt Outstanding $ in Thousands	Dec. 31, 2021 USD ($)
Debt (Details) - Schedule of Debt Outstanding [Line Items]
Unpaid Principal	$ 74,360
Short-term	3,148
Long-term	71,212
Unamortized Issuance Costs	(358)
Net Carrying Value	74,002
2021 Cox Convertible Promissory Note [Member]
Debt (Details) - Schedule of Debt Outstanding [Line Items]
Unpaid Principal	15,000
Short-term
Long-term	15,000
Unamortized Issuance Costs
Net Carrying Value	15,000
2021 Convertible Promissory Notes [Member]
Debt (Details) - Schedule of Debt Outstanding [Line Items]
Unpaid Principal	675
Short-term
Long-term	675
Unamortized Issuance Costs
Net Carrying Value	675
2020 Secured Convertible Promissory Note [Member]
Debt (Details) - Schedule of Debt Outstanding [Line Items]
Unpaid Principal	55,000
Short-term
Long-term	55,000
Unamortized Issuance Costs	(358)
Net Carrying Value	54,642
2020 Convertible Promissory Notes [Member]
Debt (Details) - Schedule of Debt Outstanding [Line Items]
Unpaid Principal	2,525
Short-term	2,025
Long-term	500
Unamortized Issuance Costs
Net Carrying Value	2,525
2020 PPP Loan [Member]
Debt (Details) - Schedule of Debt Outstanding [Line Items]
Unpaid Principal	1,123
Short-term	1,123
Long-term
Unamortized Issuance Costs
Net Carrying Value	1,123
Other Loans [Member]
Debt (Details) - Schedule of Debt Outstanding [Line Items]
Unpaid Principal	37
Short-term
Long-term	37
Unamortized Issuance Costs
Net Carrying Value	$ 37

Stock Compensation Expense (Details) - Schedule of Nonvested Stock Options - $ / shares	3 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2023	Sep. 30, 2022	Dec. 31, 2022
Nonvested Stock Options [Member]
Stock Compensation Expense (Details) - Schedule of Nonvested Stock Options [Line Items]
Number, Nonvested beginning balance		6,867,852	6,867,852
Weighted- Average Exercise Price, Nonvested beginning balance (in Dollars per share)		$ 0.38	$ 0.38
Number, Granted
Weighted- Average Exercise Price, Granted (in Dollars per share)
Number, Vested		(6,197,824)
Weighted- Average Exercise Price, Vested (in Dollars per share)		$ 0.38
Number, Forfeited
Weighted- Average Exercise Price, Forfeited (in Dollars per share)
Number, Nonvested ending balance		670,008
Weighted- Average Exercise Price, Nonvested ending balance (in Dollars per share)		$ 0.38
Nonvested RSAs [Member]
Stock Compensation Expense (Details) - Schedule of Nonvested Stock Options [Line Items]
Number, Nonvested beginning balance	1,649,962	167,277	167,277
Weighted- Average Exercise Price, Nonvested beginning balance (in Dollars per share)	$ 6.27	$ 5.78	$ 5.78
Number, Granted			1,774,698
Weighted- Average Exercise Price, Granted (in Dollars per share)			$ 6.3
Number, Vested			(289,013)
Weighted- Average Exercise Price, Vested (in Dollars per share)	$ 6		$ 5.99
Number, Forfeited
Number, Nonvested ending balance			1,649,962
Weighted- Average Exercise Price, Nonvested ending balance (in Dollars per share)			$ 6.27

Loss Per Share (Details) - USD ($)	3 Months Ended		12 Months Ended
Loss Per Share (Details) - USD ($)	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share [Abstract]
Vested warrants outstanding	57,250			1,680,774
Operations net losses	$ 14,040	$ 9,542
Vested warrants outstanding				1,680,774

Loss Per Share

3 Months Ended

12 Months Ended

Mar. 31, 2023

Dec. 31, 2022

Earnings Per Share [Abstract]

LOSS PER SHARE

11. LOSS PER SHARE

In accordance with the provisions of ASC 260, Earnings Per Share, net loss per share is computed by dividing net loss by the weighted-average shares of common stock outstanding during the period. The results of operations were net losses of $14,040 and $9,542 for the three months ended March 31, 2023 and 2022. The following table sets forth the computation of basic and diluted earnings per share attributable to common stockholders for the three months ended March 31, 2023 and 2022:

	(In thousands, except shares and per-share information)
	Three months ended March 31,
	2023			2022
Basic and diluted loss per share:

Net loss attributable to FaZe Holdings Inc., basic and diluted	$	(14,040	)	$	(9,542	)
Weighted-average common shares outstanding, basic and diluted		64,071,686			20,640,022
Net loss per share, basic and diluted	$	(0.22	)	$	(0.46	)

During a loss period, the effect of the potential exercise of stock options, warrants, convertible preferred stock, and convertible debt are not considered in the diluted loss per share calculation since the effect would be antidilutive. The Company did not have any participating securities in the periods presented. The Company had 1,680,774 fully vested warrants in which common shares were issuable for little to no consideration outstanding as of the Closing Date and for the year ended December 31, 2021. These warrants were exercised during the Business Combination. The Company considered these warrants outstanding in the context of basic loss per share and included these warrants in the weighted-average shares of common stock outstanding for the period until converted.

	As of March 31, 2023	As of March 31, 2022
Convertible preferred stock	—	—
Public Warrants	5,750,000	5,750,000
Private Placement Warrants	173,333	173,333
Seller Earn-out	5,312,098	5,312,098
Sponsor Earn-out Shares	2,156,250	2,156,250
Legacy FaZe preferred warrant	—	—
Unvested restricted stock award	1,601,218	1,649,962
Unvested restricted stock units	735,667	1,124,674
Stock options	16,812,734	18,863,654
Total potentially dilutive common stock equivalents	32,541,300	35,029,971

13. LOSS PER SHARE

In accordance with the provisions of ASC 260, Earnings Per Share, net loss per share is computed by dividing net loss by the weighted-average shares of common stock outstanding during the period. The results of operations were net losses for the year ended December 31, 2022 and 2021. The following table sets forth the computation of basic and diluted earnings per share attributable to common stockholders for the year ended December 31, 2022 and 2021:

	(in thousands, except shares and per-share information)
	Years ended December 31,
	2022			2021
Basic and diluted loss per share:

Net loss attributable to FaZe Holdings Inc., basic and diluted	$	(168,534	)	$	(36,866	)
Weighted-average common shares outstanding, basic and diluted		39,872,308			19,187,873
Net loss per share, basic and diluted	$	(4.23	)	$	(1.92	)

1,680,774 fully vested warrants in which common shares were issuable for little to no consideration outstanding as of the Closing Date and for the year ended December 31, 2021. These warrants were exercised during the Business Combination. The Company considered these warrants outstanding in the context of basic loss per share and included these warrants in the weighted-average shares of common stock outstanding for the period until converted.

	As of December 31, 2022	As of December 31, 2021
Convertible preferred stock	—	7,209,555
Public Warrants	5,750,000	5,750,000
Private Placement Warrants	173,333	173,333
Seller Earn-out	5,312,098	—
Sponsor Earn-out Shares	2,156,250	—
Legacy FaZe preferred warrant	—	651,951
Unvested restricted stock award	1,649,962	49,426
Stock options	18,863,654	19,912,281
Total potentially dilutive common stock equivalents	33,905,297	33,746,546

Commitments and Contingencies (Details) - Schedule of Lease Assets and Lease Liabilities - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Mar. 31, 2023
Assets
Right of use asset – long term	$ 2,693
Total right of use asset	2,693		$ 2,319
Liabilities
Operating lease liabilities – short term	1,488		1,488
Operating lease liabilities – long term	1,084		$ 718
Total lease liability	$ 2,572

Private Placement Warrants and Recurring Fair Value Measurements (Details) - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Private Placement Warrants and Recurring Fair Value Measurements [Abstract]
Private Placement	173,333	173,333
Exercise price	$ 11.5	$ 11.5

Summary of Significant Accounting Policies (Details) - Schedule of Revenue by Major Type - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Total revenue	$ 12,550	$ 15,804	$ 70,021	$ 52,852
Brand sponsorships [Member]
Disaggregation of Revenue [Line Items]
Total revenue	6,263	8,060	42,096	24,867
Content [Member]
Disaggregation of Revenue [Line Items]
Total revenue	3,028	4,681	14,497	16,068
Consumer products [Member]
Disaggregation of Revenue [Line Items]
Total revenue	388	403	3,455	5,751
Esports [Member]
Disaggregation of Revenue [Line Items]
Total revenue	2,847	2,426	9,385	5,846
Other [Member]
Disaggregation of Revenue [Line Items]
Total revenue	$ 24	$ 234	$ 588	$ 320

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Private Placement Warrants and Recurring Fair Value Measurements (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2023

Dec. 31, 2022

Private Placement Warrants and Recurring Fair Value Measurements (Tables) [Line Items]

Schedule of Fair Value of the Private Placement Warrants

The key inputs into the Black-Scholes model in determining the fair value of the Private Placement Warrants were as follows at March 31, 2023 and December 31, 2022:

	March 31, 2023			December 31, 2022
Risk-free interest rate		3.7	%		4.0	%
Expected term (years)		4.3			4.5
Expected volatility		91.5	%		53.3	%
Exercise price	$	11.50		$	11.50
Dividend yield		0			0

The key inputs into the Black-Scholes model in determining the fair value of the Private Placement Warrants were as follows at December 31, 2022 and December 31, 2021:

	December 31, 2022			December 31, 2021
Risk-free interest rate		4.0	%		1.3	%
Expected term (years)		4.5			5.5
Expected volatility		53.3	%		18.5	%
Exercise price	$	11.50		$	11.50
Dividend yield		0			0

Schedule of Changes in the Fair Value of the Private Placement Warrants Liability

The following table presents a summary of the changes in the fair value of the Private Placement Warrants liability since the Closing Date:

	(In thousands)
Warrant liabilities at July 19, 2022	$	114
Change in fair value of warrant liabilities		(90	)
Warrant liabilities at December 31, 2022		24
Change in fair value of warrant liabilities		(13	)
Warrant liabilities at March 31, 2023	$	11

The following table presents a summary of the changes in the fair value of the Private Placement Warrants liability since the Closing Date:

	(in thousands)
Warrant liabilities at July 19, 2022	$	114
Change in fair value of warrant liabilities		(90	)
Warrant liabilities at December 31, 2022	$	24

Schedule of Assets and Liabilities Were Measured At Fair Value on a Recurring Basis

	(In thousands)
	March 31, 2023		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Observable Inputs (Level 3)
Liabilities:
Private Placement Warrants	$	11	$	—	$	—	$	11
Total	$	11	$	—	$	—	$	11

	(In thousands)
	December 31, 2022		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Observable Inputs (Level 3)
Liabilities:
Private Placement Warrants	$	24	$	—	$	—	$	24
Total	$	24	$	—	$	—	$	24

	(in thousands)
	December 31, 2022		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Observable Inputs (Level 3)
Liabilities:
Private Placement Warrants	$	24	$	—	$	—	$	24
Total	$	24	$	—	$	—	$	24

Intangible Assets (Details) - Schedule of Intangible Assets - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Website Development [Member]
Finite-Lived Intangible Assets [Line Items]
Website development, Useful Life	3 years	3 years	3 years
Website development, Gross Carrying Value	$ 416	$ 377	$ 211
Website development, Accumulated Amortization	208	175	75
Website development, Net Carrying Value	208	$ 202	$ 136
Talent Acquisition [Member]
Finite-Lived Intangible Assets [Line Items]
Talent acquisition, Useful Life		2 years	2 years
Talent acquisition, Gross Carrying Value	1,054	$ 1,201	$ 1,653
Talent acquisition, Accumulated Amortization	603	555	1,051
Talent acquisition, Net Carrying Value	451	646	602
Intangible Assets, Net [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, net Gross Carrying Value	1,470	1,578	1,864
Intangible assets, net Accumulated Amortization	811	730	1,126
Intangible assets, net Net Carrying Value	$ 659	$ 848	$ 738

Debt

12 Months Ended

Dec. 31, 2022

Debt [Abstract]

DEBT

8. DEBT

As of December 31, 2022, there is no debt outstanding as all outstanding debts have been paid off or converted into Legacy FaZe common stock and eventually to Company common stock as a result of the Business Combination. Debt as of December 31, 2021 consisted of the following:

As of December 31, 2021	(in thousands)
As of December 31, 2021	Unpaid Principal		Short- term		Long- term		Unamortized Issuance Costs			Net Carrying Value
2021 Cox Convertible Promissory Note	$	15,000	$	—	$	15,000	$	—		$	15,000
2021 Convertible Promissory Notes		675		—		675		—			675
2020 Secured Convertible Promissory Note		55,000		—		55,000		(358	)		54,642
2020 Convertible Promissory Notes		2,525		2,025		500		—			2,525
2020 PPP Loan		1,123		1,123		—		—			1,123
Other loans		37		—		37		—			37
Total principal amount outstanding	$	74,360	$	3,148	$	71,212	$	(358	)	$	74,002

2021 Cox Convertible Promissory Notes

In August 2021, Legacy FaZe entered into an agreement with Cox Investment Holdings, Inc. (“Cox”) to which the Legacy FaZe sold convertible promissory notes totaling $10.0 million. The maturity date is the earliest of (a) December 15, 2023, (b) the consummation of an initial public offering, (c) the merger of Legacy FaZe with another entity, (d) a transaction pursuant to which more than 50% of Legacy FaZe’s equity securities come to be owned by an unrelated third party, (e) a sale of all or substantially all of the assets of Legacy FaZe, or (f) the consummation of a private round of equity financing resulting in aggregate gross proceeds to Legacy FaZe of at least $15.0 million (“Cox Qualified Financing”). In addition, Cox exercised its right to purchase an additional $5.0 million in Cox Convertible Promissory Notes in October 2021.

The convertible promissory notes are convertible, at the investor’s election, into shares of common stock or shares of the series or class of capital stock most recently sold in a Cox Qualified Financing consummated prior to such time. The conversion price is equal to the lesser of (a) the imputed pre-money enterprise value of Legacy FaZe with respect to the Cox Qualified Financing most recently consummated prior to the time of determination, and (b) $250.0 million minus the then outstanding debt of Legacy FaZe in excess of $25.0 million, divided by the total number of shares of capital stock of Legacy FaZe then currently issued and outstanding, calculated on an as-exercised, as-converted, fully diluted basis, but excluding (a) shares of capital stock of Legacy FaZe issuable upon the conversion of the note, and (b) shares of capital stock issuable upon conversion of other convertible notes or indebtedness then outstanding.

The 2021 Cox Convertible Promissory Notes, which cannot be prepaid without consent of the holder, bear interest at a rate of 10.00% per annum and are secured against substantially all assets of Legacy FaZe.

Legacy FaZe evaluated the embedded conversion feature in accordance with ASC 815 and determined that embedded conversion feature did not meet the definition of a derivative and therefore did not account for it as a separate derivative liability.

As a result of the Business Combination, on the Closing Date, $15.0 million of Legacy FaZe’s 2021 Cox Convertible Promissory Notes with $1.3 million accrued interest were converted into 3,096,908 shares of the Company’s common stock pursuant to original contractual terms and derecognized at the carrying amount of the debt.

2021 Convertible Promissory Notes

In June and August 2021, Legacy FaZe entered into Convertible Promissory Note agreements with accredited investors pursuant to which Legacy FaZe sold Promissory Notes totaling $0.7 million. For each note issued, the maturity date is the second anniversary of the date of the Purchase Agreement. The conversion price is equal to 90% of the price per share sold in a preferred stock financing, provided the price is subject to adjustment in the event Legacy FaZe’s enterprise value is greater than $250.0 million on that date.

The 2021 Convertible Promissory Notes, which cannot be prepaid without consent of the holder, bear interest at a rate of 4.00% per annum and are subordinate and junior in right of payment to any senior indebtedness of Legacy FaZe.

As a result of the Business Combination, on the Closing Date, $0.7 million of Legacy FaZe’s 2021 Convertible Promissory Notes with $26,770 accrued interest were converted into 133,276 shares of the Company’s common stock pursuant to original contractual terms and derecognized at the carrying amount of the debt.

2020 Secured Convertible Note Purchase Agreements and Secured Convertible Promissory Notes

In December 2020, Legacy FaZe entered into a Secured Convertible Note Purchase Agreement as amended on February 22, 2021, April 23, 2021, and August 16, 2021 (together, the “Purchase Agreement”) with CPH Phase II SPV L.P. and CPH Phase III SVP L.P., accredited investors, (collectively referred to as “CPH Noteholders”) pursuant to which Legacy FaZe agreed to sell Secured Convertible Promissory Notes (the “CPH Notes”), for a total of up to $91.7 million, to the investors. Legacy FaZe issued Secured Convertible Promissory Notes to the investors for a total of $55.0 million.

In October 2021, Legacy FaZe entered into an agreement with the CPH Noteholders, for the settlement of the accrued interest on the CPH Notes and the settlement of the purchaser’s right, but not obligation, to purchase additional CPH Notes from Legacy FaZe for up to $36.7 million expiring in June 2022 (“CPH Right”). The CPH Right has an anti-dilution feature and survives beyond a change-in-control event, including a merger transaction with a special purpose acquisition company. Legacy FaZe settled the accrued interest through February 1, 2022 and the CPH Right for 523,763 and 4,800,000 shares of the Company’s common stock, respectively, issuable upon the close of the Merger. The accrued interest after February 1, 2022 was paid in cash. The common stock and cash for accrued interest and the common stock for the CPH Right was settled upon close of the Merger on July 19, 2022.

For each note issued under the Purchase Agreement, the maturity date is the earlier of December 15, 2023 of either (i) an initial public offering, (ii) a transaction or series of related transactions pursuant to which more than 50% of Legacy FaZe’s equity securities come to be owned by an unrelated third party or (iii) the sale of all or substantially all of the assets of Legacy FaZe (a “Liquidity Event”). The CPH Notes are convertible, at the investor’s election, into shares of common stock or shares of the series or class of capital stock (“Conversion Shares”) sold in a private round of equity financing consummated after January 1, 2021 that result in gross proceeds of at least $15.0 million (a “CPH Qualified Financing”). The conversion price is equal to the imputed pre-money enterprise value of Legacy FaZe with respect to the CPH Qualified Financing divided by the total number of shares of capital stock then currently issued and outstanding, calculated on an as-exercised, as-converted, fully diluted basis, but excluding shares of capital stock of Legacy FaZe issuable to the investor upon conversion of the CPH Notes. The conversion price is subject to adjustment in the event Legacy FaZe’s enterprise value is greater than $250.0 million at the time of conversion.

Legacy FaZe may prepay the CPH Notes in whole or in part at any time without penalty, provided the investor has the right to utilize the proceeds to purchase the Conversion Shares at the conversion price prior to the maturity date. The CPH Notes bear interest at 10.00% per annum and are secured against substantially all assets of Legacy FaZe.

As a result of the Business Combination, on the Closing Date, $54.7 million of Legacy FaZe’s 2020 Secured Convertible Note Purchase Agreements and Secured Convertible Promissory Notes, with $5.3 million accrued interest, were converted into 15,769,002 shares of the Company’s common stock. In addition, $2.6 million of accrued interest was settled by cash. Upon the conversion of such debts under the Merger Agreement terms, approximately $112.9 million of loss on debt extinguishment was recognized in the year ended December 31, 2022.

2020 Convertible Promissory Notes

In March — June 2020, Legacy FaZe entered into Convertible Promissory Note agreements with accredited investors pursuant to which Legacy FaZe sold Convertible Promissory Notes totaling $2.5 million. Subsequent to the execution of the Merger Agreement, in November and December 2021, Legacy FaZe entered into consent letters with each of the 2020 Convertible Promissory Note Holders wherein each note was converted into a number of shares of Legacy FaZe’s common stock immediately prior to the Merger. The conversion price was equal to $250.0 million or $200.0 million divided by the total number of shares of capital stock of Legacy FaZe issued and outstanding, calculated on an as-exercised, as-converted, fully diluted basis, but excluding shares of capital stock of Legacy FaZe issued or issuable upon conversion of the note and other convertible notes of Legacy FaZe.

The 2020 Convertible Promissory Notes, which cannot be prepaid without consent of the holder, bear interest at a rate of 4.00% per annum and are subordinate and junior in right of payment to any senior indebtedness of Legacy FaZe.

As a result of the Business Combination, on the Closing Date, $2.5 million of Legacy FaZe’s 2020 Convertible Promissory Notes, with $0.2 million accrued interest, were converted into 546,220 shares of the Company’s common stock. Upon the conversion of such debts under the Merger Agreement terms, approximately $2.4 million of loss on debt extinguishment was recognized in the year ended December 31, 2022.

2022 B. Riley Term Loan

In March 2022, Legacy FaZe entered into a Bridge Loan Agreement with B. Riley Commercial Capital, LLC (“B. Riley Lender”), an affiliate of B. Riley 150, pursuant to which Legacy FaZe received a term loan in the amount of $10.0 million in a single advance (“Initial Term Loan”). Upon receipt of a borrowing notice from Legacy FaZe to B. Riley Lender in April 2022, B. Riley Lender issued Legacy FaZe a second advance of $10.0 million (“Final Term Loan”). The maturity date is the Closing Date of the Merger Agreement.

The 2022 B. Riley Term Loan accrues interest at a rate of 7.00% per annum, compounded quarterly, with such interest accrued on the last business day of each calendar quarter, and shall be paid in cash on the maturity date and is secured against substantially all assets of Legacy FaZe.

As a result of the Business Combination, on the Closing Date, the Company paid the $20.0 million 2022 B. Riley Term Loan and $0.4 million of accrued interest with the proceeds of the Merger.

2020 Paycheck Protection Program Loan

In May 2020, Legacy FaZe entered into a Promissory Note dated May 4, 2020 (the “PPP Loan”) with Harvest Small Business Finance, LLC (“Harvest”), pursuant to which Harvest agreed to make a loan to Legacy FaZe under the Paycheck Protection Program offered by the U.S. Small Business Administration in a principal amount of $1.1 million pursuant to Title 1 of the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”). The PPP Loan proceeds are available to be used to pay for payroll costs, including salaries, commissions and similar compensation, group health care benefits and paid leaves, rent, utilities, and interest on certain other outstanding debt.

Legacy FaZe is required to make principal and interest payments in monthly installments, beginning ten months after the last day of the covered period, on the balance that is not forgiven. The loan matures in May 2022 and bears interest at a rate of 1.00% per annum.

As a result of the Business Combination, on the Closing Date, the Company paid the $1.1 million of outstanding PPP Loan and $24,760 of accrued interest with the proceeds of the Merger.

Interest Expense

Interest expense for the year ended December 31, 2022 and 2021 was $4.5 million and $5.5 million, respectively, includes $0.1 million and $0.1 million of amortization of debt issuance costs, respectively.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

Intangible Assets (Details) - Schedule of Estimated Future Amortization of Intangible Assets - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Schedule of Estimated Future Amortization of Intangible Assets [Abstract]
2023	$ 299	$ 478
2024	51	332
2025	1	38
2026
Total future amortization of amortizable intangible assets	$ 659	$ 848

Summary of Significant Accounting Policies (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Summary of Significant Accounting Policies (Details) [Line Items]
Impairment loss			$ 1.1
Content asset				$ 0.5
Company recognized	$ 2.6	$ 3.0	7.8	0.8
Lease liabilities			2.7
Assets			2.6
Revenue	2.3	$ 2.3
Share based compensation	$ 1.3
Maximum [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Revenue			$ 1.8
Minimum [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Revenue				$ 4.0

Liquidity

3 Months Ended

12 Months Ended

Mar. 31, 2023

Dec. 31, 2022

Liquidity Abstract

LIQUIDITY

2. LIQUIDITY

As shown in the accompanying consolidated financial statements, the Company has incurred significant recurring losses resulting in an accumulated deficit. The Company anticipates further losses in the development of its business. The Company also had negative cash flows used in operations. These factors raise substantial doubt about the Company’s ability to continue as a going concern.

Based on its cash resources and positive working capital as of March 31, 2023, the Company believes it has sufficient resources to fund its operations at least until twelve months from the date of issuance of these financial statements. The positive working capital as of March 31, 2023 was mainly due to funds from the PIPE offering and from the Business Combination.

2. LIQUIDITY

Based on its cash resources and positive working capital as of December 31, 2022, the Company has sufficient resources to fund its operations at least until the end of April 3, 2024. The positive working capital as of December 31, 2022 was mainly due to funds from the PIPE offering and from the business combination. Absent generation of sufficient revenue from the execution of the Company’s business plan, the Company will need to obtain debt or equity financing by April 3, 2024. Because of these factors, the Company believes that this alleviates the substantial doubt in connection with the Company’s ability to continue as a going concern.

Income Taxes

12 Months Ended

Dec. 31, 2022

Income Taxes [Abstract]

INCOME TAXES

14. INCOME TAXES

The Company’s income and losses before income taxes in 2022 and 2021, respectively, consist of income and losses from domestic operations. Income/(Loss) before income tax expense for the years ended December 31, 2022 and 2021, respectively, consisted of the following: (in thousands)

	Year Ended December 31, 2022		Year Ended December 31, 2021
United States	(168,534	)	(36,866	)
Foreign	—		—
Income/(Loss) before income taxes	(168,534	)	(36,866	)

The table below presents the components of the provision for income taxes:

	Year Ended December 31, 2022	Year Ended December 31, 2021
Current
Federal	0	0
State	0	0
Foreign	0	0
Total Current	0	0
Deferred
US Federal	0	0
US State	0	0
Foreign	0	0
Total Deferred	0	0

Total Provision/(Benefit)	0	0

A reconciliation of income tax expense (benefit) computed at the statutory federal income tax rate to income taxes as reflected in the consolidated financial statements is as follows:

	Year Ended December 31, 2022		Year Ended December 31, 2021
Tax provision at statutory rate	21.0	%	21.0	%
State taxes, net of federal benefit	2.0	%	6.9	%
Permanent Items	(0.0	)%	(0.2	)%
162(m) Limitations	(0.6	)%	0.0	%
Equity Compensation	0.2	%	(0.1	)%
Deferred Adjustments	(1.7	)%	(0.1	)%
Return to provision adjustments	(0.1	)%	(0.0	)%
Nondeductible Loss on Debt Extinguishment	(14.4	)%	0.0	%
Increase/(decrease) in valuation reserve	(6.4	)%	(27.5	)%
Effective income tax rate	0.0	%	0.0	%

Deferred taxes are recognized for temporary differences between the basis of assets and liabilities for financial statement and income tax purposes. The significant components of the Company’s deferred tax assets and liabilities as of December 31, 2022 and 2021 are comprised of the following (in thousands):

	As of December 31,
	2022			2021
Deferred tax assets:
Net operating loss carryforwards		34,934			20,840
Capitalized Sec. 174 Costs		67			—
Equity based compensation		1,272			1,115
Accruals		953			3,156
Lease Liability		720			—
Nondeductible Interest Carryover		2,089			1,148
Deferred Rent		—			2
Deferred Revenue		—			2,211
Fixed Assets		99			85
Other		173			140
Total Deferred Tax Assets		40,307			28,697
Less: Valuation Allowance		(39,553	)		(28,697	)
Deferred tax asset, net	$	754		$	—

Deferred tax Liabilities:
Right of Use Asset		(754	)		—
Total deferred tax liabilities		(754	)		—
Deferred taxes		—			—

The Company has evaluated the positive and negative evidence, bearing upon its ability to realize its deferred tax assets, which are comprised primarily of net operating loss carryforwards and tax credits. Management has considered the Company’s history of cumulative net losses in the United States, estimated future taxable income and prudent and feasible tax planning strategies and has concluded that it is more likely than not that the Company will not realize the benefits of its US federal and state deferred tax assets. Accordingly, a full valuation allowance has been established against these net deferred tax assets as of December 31, 2022 and

2021, respectively. The Company reevaluates the positive and negative evidence at each reporting period. The Company’s valuation allowance increased during 2022 by approximately $10.9 million, primarily due to net operating losses that were generated in the current year.

As of December 31, 2022 and 2021, the Company had U.S. federal net operating loss carryovers of $123.8 million and $73.3 million respectively, which may be available to reduce future taxable income. The 2017 Tax Cuts and Jobs Act (“TCJA”) will generally allow losses incurred after 2017 to be carried over indefinitely but will generally limit the net operating loss deduction to the lesser of the net operating loss carryover or 80% of a corporation’s taxable income (subject to Section 382 of the Internal Revenue Code of 1986, as amended). Also, there will be no carryback for losses incurred after 2017. Losses incurred prior to 2018 will generally be deductible to the extent of the lesser of a corporation’s net operating loss carryover or 100% of a corporation’s taxable income and be available for twenty years from the period the loss was generated. The Company has federal net operating losses generated following 2017 of $122.8 million, which do not expire. The federal net operating losses generated prior to 2018 of $1.0 million will expire at various dates through 2037.

As of December 31, 2022 and 2021, the Company also had U.S. state net operating loss carryovers of $128.0 million and $129.4 million respectively, which may be available to offset future income tax liabilities and expire at various dates through 2038.

The utilization of the Company’s NOLs are subject to annual Internal Revenue Code Section 382 limitations. The Company has not yet completed a 382 study as of December 31, 2022 . As the Company is in a full valuation allowance, any limitation that may apply due to Section 382 limitation would not affect the conclusion of a full valuation allowance.

At December 31, 2022 and December 31, 2021, the Company did not have any significant uncertain tax positions. The Company will recognize interest and penalties related to uncertain tax positions in income tax expense. As of December 31, 2022 and 2021, the Company had no accrued interest or penalties related to uncertain tax positions and no amounts have been recognized in the Company’s statement of operations. The Company does not anticipate a material change to unrecognized tax benefits in the next twelve months.

All of the Company’s tax years will remain open for examination by the Federal and state tax authorities to the extent that the Company’s tax attributes are utilized in future years to offset income or income taxes. The Company is currently not under examination from any taxing authority.

In response to the COVID-19 pandemic, the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”) was signed into law on March 27, 2020. The CARES Act, among other things, includes tax provisions relating to refundable payroll tax credits, deferment of employer’s social security payments, net operating loss utilization and carryback periods and modifications to the net interest deduction limitations. The CARES Act did not have a material impact on the Company’s income tax provision for 2022 or 2021. The Company will continue to evaluate the impact of the CARES Act on its financial position, results of operations and cash flows.

On December 27, 2020, the President of the United States signed the Consolidated Appropriations Act, 2021 (“Consolidated Appropriations Act”) into law. The Consolidated Appropriations Act is intended to enhance and expand certain provisions of the CARES Act, allows for the deductions of expenses related to the Payroll Protection Program funds received by companies, and provides an update to meals and entertainment expensing for 2021 and 2022. The Consolidated Appropriations Act did not have a material impact to the Company’s income tax provision for 2022 or 2021.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Liquidity (Details) $ / shares in Units, $ in Millions	3 Months Ended
Liquidity (Details) $ / shares in Units, $ in Millions	Mar. 31, 2023 USD ($) $ / shares shares
Liquidity (Details) [Line Items]
Gross purchase price \| $	$ 25
Common stock, par value \| $ / shares	$ 0.0001
Purchase percentage	97.00%
Common stock description	the Investor may not purchase any Common Stock that would result in it owning more than 4.99% of the Company’s Common Stock or (ii) the aggregate number of Common Stock issued pursuant to the SEPA cannot exceed 19.9% of the Company’s Common Stock as of as of the date of the SEPA (referred to as the “Exchange Cap”)
Investor [Member]
Liquidity (Details) [Line Items]
Common stock issued \| shares	487,995

Litigation (Details) - USD ($) $ in Millions				1 Months Ended			3 Months Ended	12 Months Ended
Litigation (Details) - USD ($) $ in Millions	May 01, 2022	May 14, 2021	Dec. 07, 2020	Apr. 30, 2022	Oct. 31, 2021	May 21, 2021	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Nov. 30, 2020
Litigation (Details) [Line Items]
Alleged funding amount										$ 3.0
Disposition		$ 3.0
Agreement total amount			$ 3.0
Plus payment			$ 0.5
Settlement agreement			the Company has entered into a settlement agreement whereby Gordon agreed to the cancellation of 90,000 of the 790,000 outstanding stock options previously issued to him and to release any actions, claims, damages, judgments or agreements arising out of his relationship with the Company in exchange for $1.9 million in cash
Legal accrual								$ 1.9
Initial payment							$ 0.4
Mr. Selkoe [Member]
Litigation (Details) [Line Items]
Accrued amount									$ 3.2
Severance payments	$ 0.3							2.9
Bridging Finance Group [Member]
Litigation (Details) [Line Items]
Alleged funding amount										$ 30.0
Ms. Butler [Member]
Litigation (Details) [Line Items]
Legal accrual								$ 0.8
Preliminary settlement payable						$ 0.8
Treschow-Fritzoe [Member]
Litigation (Details) [Line Items]
Legal accrual					$ 0.8				$ 1.2
Subsequently paid in cash				$ 0.8

Loss Per Share (Details) - Schedule of Basic and Diluted Earnings Per Share - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Schedule of Basic and Diluted Earnings Per Share [Abstract]
Net loss attributable to FaZe Holdings Inc., basic and diluted	$ (14,040)	$ (9,542)	$ (168,534)	$ (36,866)
Weighted-average common shares outstanding, basic and diluted	64,071,686	20,640,022	39,872,308	19,187,873
Net loss per share, basic and diluted	$ (0.22)	$ (0.46)	$ (4.23)	$ (1.92)

- Definition

+ References + Details

Litigation

3 Months Ended

12 Months Ended

Mar. 31, 2023

Dec. 31, 2022

Litigation [Abstract]

LITIGATION

10. LITIGATION

From time to time, in the normal course of operations, the Company is subject to litigation matters and claims, including claims relating to employee relations and business practices. The Company expenses legal fees as incurred. The Company records a provision for contingent losses when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. An unfavorable outcome to any legal matter, if material, could have an adverse effect on the Company’s operations or its financial position, liquidity, or results of operations.

On November 30, 2020, Adult Use Holdings, Inc. (“Adult Use”) and Zola Ventures Ltd. (“Zola”) initiated arbitration claiming that the Company owed CA$ 3 million to Adult Use and Zola in connection with alleged funding to the Company of CA$ 30.0 million by Bridging Finance Group. On December 21, 2020, the Company brought counterclaims against Adult Use, Zola, and their principals Adam Salman and Igor Gimelshtein. On May 14, 2021, the Company applied for summary disposition of the claim for CA$ 3 million brought by Adult Use and Zola. On August 4, 2021, the arbitrator granted the Company’s application and issued a Partial Final Award dismissing Adult Use’s and Zola’s claim. The United States District Court for the Southern District of New York subsequently affirmed the Partial Final Award and its dismissal of Adult Use’s and Zola’s claims against the Company in a decision issued September 28, 2022. On November 8 and November 11, 2022, the arbitrator held hearings in connection with the Company’s counterclaims. On December 23, 2022, the Company filed an application for costs and attorneys’ fees. The Company does not believe a material loss is probable at this time. As result, the Company has not recorded a reserve with respect to this litigation.

12. LITIGATION

On August 12, 2020, Greg Selkoe, President of the Company until May 2020, filed suit against the Company for severance and sums related to his termination from the Company, which was initiated in January 2020. The Company and Mr. Selkoe reached a settlement, including a severance payment to Mr. Selkoe and forfeiture by Mr. Selkoe of the entirety of his stock options. The Company accrued $3.2 million for the year ended December 31, 2020. The Company paid $2.9 million of the severance payments to Mr. Selkoe in 2021. In May 2022, the Company made a payment of $0.3 million for the remainder of the balance.

Award dismissing Adult Use’s and Zola’s claim. The United States District Court for the Southern District of New York subsequently affirmed the Partial Final Award and its dismissal of Adult Use’s and Zola’s claims against the Company in a decision issued September 28, 2022. On November 8 and November 11, 2022, the arbitrator held hearings in connection with the Company’s counterclaims. On December 23, 2022, the Company filed an application for costs and attorneys’ fees. The Company does not believe a material loss is probable at this time. As result, the Company has not recorded a reserve with respect to this litigation.

On December 7, 2020, the Company filed an arbitration demand against its former Chief Legal Officer, Phillip Gordon (“Gordon”), alleging claims for fraud, breach of fiduciary duty, breach of duty of loyalty, and breach of employment agreement. The Company terminated Gordon effective as of December 5, 2020 based on the results of an internal investigation. Gordon has denied that the Company had cause to terminate him and filed counterclaims seeking payment of severance under his employment agreement in the total amount of $3.0 million, plus payment of $0.5 million in bonus compensation. Subsequent to December 31, 2021, as a result of arbitration proceedings, the Company has entered into a settlement agreement whereby Gordon agreed to the cancellation of 90,000 of the 790,000 outstanding stock options previously issued to him and to release any actions, claims, damages, judgments or agreements arising out of his relationship with the Company in exchange for $1.9 million in cash. The Company recorded a legal accrual for $1.9 million as of December 31, 2021. The initial payment of $0.4 million was made in the first quarter of 2022. The outstanding balance was settled as of the third quarter of 2022.

On May 21, 2021, Alissa Violet Marie Butler filed suit in the Superior Court of the State of California for the County of Los Angeles against FaZe Clan Inc., Dentons US LLP, and Wilson Sonsini Goodrich & Rosati, P.C. Ms. Butler alleges that she is entitled to shares of the Company’s stock. Subsequent to December 31, 2021, the Company has reached a preliminary settlement with Ms. Butler for a total of $0.8 million payable in a combination of cash and common stock to settle Ms. Butler’s claim. The Company recorded a legal accrual for $0.8 million as of December 31, 2021. The outstanding balance was settled as of the third quarter of 2022.

In 2021, the Company was made aware of a claim from Treschow-Fritzoe AS that the Company repaid the wrong party for certain funds received by the Company in 2017 and recorded a legal accrual of $1.2 million as of December 31, 2020. In October 2021, the Company entered into a settlement agreement with Treschow-Fritzoe AS and adjusted its legal accrual to $0.8 million as of December 31, 2021. The Company paid $0.8 million in April 2022.

Property, Equipment and Leasehold Improvements (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2023

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Schedule of Property, Equipment and Leasehold Improvements

Property, equipment and leasehold improvements as of March 31, 2023 and December 31, 2022 consisted of the following:

	(In thousands)
	March 31, 2023			December 31, 2022
Furniture/Fixtures	$	897		$	897
Computer equipment		3,681			3,640
Vehicles		106			106
Leasehold improvements		862			801
Subtotal		5,546			5,444
Less: Accumulated depreciation		(2,087	)		(1,623	)
Property, equipment and leasehold improvements, net	$	3,459		$	3,821

Property, equipment and leasehold improvements as of December 31, 2022 and December 31, 2021 consisted of the following:

	(in thousands)
	December 31, 2022			December 31, 2021
Furniture/Fixtures	$	897		$	159
Computer equipment		3,640			708
Vehicles		106			106
Leasehold improvements		801			731
Subtotal		5,444			1,704
Less: Accumulated depreciation		(1,623	)		(779	)
Property, equipment and leasehold improvements, net	$	3,821		$	925

Condensed Consolidated Statements of Operations (unaudited) (Parentheticals) - $ / shares	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Net loss per common share diluted	$ (0.22)	$ (0.46)	$ (4.23)	$ (1.92)
Weighted-average number of common shares outstanding diluted	64,071,686	20,640,022	39,872,308	19,187,873

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482635/260-10-55-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-7

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-4

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 15: http://www.xbrl.org/2003/role/exampleRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 52
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482635/260-10-55-52

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-7

+ Details

Stock Compensation Expense (Details) - Schedule of Restricted Stock Units - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of restricted stock units [Abstract]
Number, Nonvested, Beginning balance	702,417
Weighted Average Price, Nonvested, Beginning balance (in Dollars per share)	$ 2.79
Number, Granted	95,000
Weighted Average Price, Granted (in Dollars per share)	$ 1.09
Number, Vested	(57,250)		(1,680,774)
Weighted Average Price, Vested (in Dollars per share)	$ 2.63
Number, Forfeited	(4,500)
Number, Nonvested, Ending balance	735,667	702,417
Weighted Average Price, Nonvested, Ending balance (in Dollars per share)	$ 2.48	$ 2.79

Loss Per Share (Details) - Schedule of antidilutive shares in the computation of diluted shares outstanding - USD ($)	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Schedule of Antidilutive Shares in the Computation of Diluted Shares Outstanding [Abstract]
Convertible preferred stock				$ 7,209,555
Public Warrants	5,750,000	5,750,000	5,750,000	5,750,000
Private Placement Warrants	173,333	173,333	173,333	173,333
Seller Earn-out	5,312,098	5,312,098	5,312,098
Sponsor Earn-out Shares	2,156,250	2,156,250	2,156,250
Legacy FaZe preferred warrant				651,951
Unvested restricted stock award	1,601,218	1,649,962	1,649,962	49,426
Stock options	16,812,734	18,863,654	18,863,654	19,912,281
Total potentially dilutive common stock equivalents	$ 32,541,300	$ 33,905,297	$ 35,029,971	$ 33,746,546

Summary of Significant Accounting Policies (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2023

Dec. 31, 2022

Accounting Policies [Abstract]

Schedule of Consolidated Statements of Operations

(in thousands)	For the twelve months ended December 31, 2021
(in thousands)	Prior to change		Effect of Change			As Adjusted
Cost of revenues	$	41,553	$	2,323		$	43,876
General and administrative		39,401		(2,323	)		37,078
Gross profit		11,299		(2,323	)		8,976

Schedule of Disaggregates the Company’s Revenue by Major Type

The following table disaggregates the Company’s revenue by major type for the three months ended March 31, 2023, and 2022:

	(In thousands)
	Three months ended March 31,
	2023		2022
Brand sponsorships	$	6,263	$	8,060
Content		3,028		4,681
Consumer products		388		403
Esports		2,847		2,426
Other		24		234
Total revenue	$	12,550	$	15,804

The following table disaggregates the Company’s revenue by major type for the year ended December 31, 2022, and 2021:

	(in thousands)
	Year ended December 31,
	2022		2021
Brand sponsorships	$	42,096	$	24,867
Content		14,497		16,068
Consumer products		3,455		5,751
Esports		9,385		5,846
Other		588		320
Total revenue	$	70,021	$	52,852

Income Taxes (Details) - Schedule of Reconciliation of Income Tax Expense (Benefit)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Schedule Of Reconciliation Of Income Tax Expense Benefit Abstract
Tax provision at statutory rate	21.00%	21.00%
State taxes, net of federal benefit	2.00%	6.90%
Permanent Items	0.00%	(0.20%)
162(m) Limitations	(0.60%)	0.00%
Equity Compensation	0.20%	(0.10%)
Deferred Adjustments	(1.70%)	(0.10%)
Return to provision adjustments	(0.10%)	0.00%
Nondeductible Loss on Debt Extinguishment	(14.40%)	0.00%
Increase/(decrease) in valuation reserve	(6.40%)	(27.50%)
Effective income tax rate	0.00%	0.00%

Document And Entity Information	3 Months Ended
Document And Entity Information	Mar. 31, 2023
Document Information Line Items
Entity Registrant Name	FaZe Holdings Inc.
Document Type	S-1
Amendment Flag	false
Entity Central Index Key	0001839360
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Incorporation, State or Country Code	DE

Intangible Assets (Details) - Schedule of Estimated Future Amortization of Intangible Assets - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Schedule of Estimated Future Amortization of Intangible Assets [Abstract]
2023 (remainder)	$ 308
2024	299	$ 478
2025	51	332
2026	1	38
Total future amortization of amortizable intangible assets	$ 659	$ 848

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - $ / shares	Mar. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Preferred Stock, par value (in Dollars per share)	$ 0.0001	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	1,000,000	1,000,000	1,000,000
Preferred stock, shares issued	0	0	0
Preferred stock, shares outstanding	0	0	0
Common stock, par value (in Dollars per share)	$ 0.0001	$ 0.0001	$ 0.0001
Common stock, shares authorized	500,000,000	500,000,000	71,033,146
Common stock, shares issued	74,046,058	71,551,887	18,841,538
Common stock, shares outstanding	74,046,058	71,551,887	18,841,538
Series A Preferred Stock
Preferred Stock, par value (in Dollars per share)	$ 0.00001	$ 0.00001	$ 0.00001
Preferred stock, shares authorized	3,545,529	3,545,529	3,545,529
Preferred stock, shares issued	0	0	3,237,800
Preferred stock, shares outstanding	0	0	3,237,800

Commitments and Contingencies (Details) - Schedule of Future Minimum Lease Payment - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Schedule of future minimum lease payment [Abstract]
2023 (remainder)	$ 1,184	$ 1,577
2024	1,087	1,087
2025	5	5
2026	3	3
Thereafter
Total minimum lease payment	$ 2,279	$ 2,672

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Taxes [Abstract]

Schedule of Income (Loss) Before Income Tax Expense

	Year Ended December 31, 2022		Year Ended December 31, 2021
United States	(168,534	)	(36,866	)
Foreign	—		—
Income/(Loss) before income taxes	(168,534	)	(36,866	)

Schedule of Provision for Income Taxes

The table below presents the components of the provision for income taxes:

	Year Ended December 31, 2022	Year Ended December 31, 2021
Current
Federal	0	0
State	0	0
Foreign	0	0
Total Current	0	0
Deferred
US Federal	0	0
US State	0	0
Foreign	0	0
Total Deferred	0	0

Total Provision/(Benefit)	0	0

Schedule of Reconciliation of Income Tax Expense (Benefit)

	Year Ended December 31, 2022		Year Ended December 31, 2021
Tax provision at statutory rate	21.0	%	21.0	%
State taxes, net of federal benefit	2.0	%	6.9	%
Permanent Items	(0.0	)%	(0.2	)%
162(m) Limitations	(0.6	)%	0.0	%
Equity Compensation	0.2	%	(0.1	)%
Deferred Adjustments	(1.7	)%	(0.1	)%
Return to provision adjustments	(0.1	)%	(0.0	)%
Nondeductible Loss on Debt Extinguishment	(14.4	)%	0.0	%
Increase/(decrease) in valuation reserve	(6.4	)%	(27.5	)%
Effective income tax rate	0.0	%	0.0	%

Schedule of Deferred Tax Asset and Liabilities

	As of December 31,
	2022			2021
Deferred tax assets:
Net operating loss carryforwards		34,934			20,840
Capitalized Sec. 174 Costs		67			—
Equity based compensation		1,272			1,115
Accruals		953			3,156
Lease Liability		720			—
Nondeductible Interest Carryover		2,089			1,148
Deferred Rent		—			2
Deferred Revenue		—			2,211
Fixed Assets		99			85
Other		173			140
Total Deferred Tax Assets		40,307			28,697
Less: Valuation Allowance		(39,553	)		(28,697	)
Deferred tax asset, net	$	754		$	—

Deferred tax Liabilities:
Right of Use Asset		(754	)		—
Total deferred tax liabilities		(754	)		—
Deferred taxes		—			—

Subsequent Events (Details) - USD ($)	1 Months Ended	3 Months Ended
Subsequent Events (Details) - USD ($)	Feb. 16, 2023	Mar. 31, 2023	Mar. 23, 2023	Dec. 31, 2022	Dec. 31, 2021
Subsequent Events (Details) [Line Items]
Common stock, par value		$ 0.0001		$ 0.0001	$ 0.0001
Bid price		$ 0.0001
Selling expense (in Dollars)		$ 25
Purchase percentage		97.00%
Common stock description		the Investor may not purchase any Common Stock that would result in it owning more than 4.99% of the Company’s Common Stock or (ii) the aggregate number of Common Stock issued pursuant to the SEPA cannot exceed 19.9% of the Company’s Common Stock as of as of the date of the SEPA (referred to as the “Exchange Cap”)
Subsequent Event [Member]
Subsequent Events (Details) [Line Items]
Severance amount (in Dollars)	$ 100,000
Forecast [Member]
Subsequent Events (Details) [Line Items]
Common stock, par value			$ 0.0001
Bid price			1
Exceed price par share			$ 1

Commitments and Contingencies (Details) - Schedule of Lease Assets And Lease Liabilities - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Assets
Right of use asset – long term	$ 2,319	$ 2,693
Total right of use asset	2,319	2,693
Liabilities
Operating lease liabilities – short term	1,488	1,488
Operating lease liabilities – long term	718	1,084
Total lease liability	$ 2,206	$ 2,572

Private Placement Warrants and Recurring Fair Value Measurements (Details) - Schedule of Assets and Liabilities Were Measured At Fair Value on a Recurring Basis - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Private Placement Warrants and Recurring Fair Value Measurements (Details) - Schedule of Assets and Liabilities Were Measured At Fair Value on a Recurring Basis [Line Items]
Private Placement Warrants		$ 24
Total	$ 11	24
Quoted Prices In Active Markets (Level 1) [Member]
Private Placement Warrants and Recurring Fair Value Measurements (Details) - Schedule of Assets and Liabilities Were Measured At Fair Value on a Recurring Basis [Line Items]
Private Placement Warrants
Total
Significant Other Observable Inputs (Level 2) [Member]
Private Placement Warrants and Recurring Fair Value Measurements (Details) - Schedule of Assets and Liabilities Were Measured At Fair Value on a Recurring Basis [Line Items]
Private Placement Warrants
Total
Significant Other Observable Inputs (Level 3) [Member]
Private Placement Warrants and Recurring Fair Value Measurements (Details) - Schedule of Assets and Liabilities Were Measured At Fair Value on a Recurring Basis [Line Items]
Private Placement Warrants		24
Total	$ 11	$ 24

Stock Compensation Expense (Details) - Schedule of Equity Incentive Plan - shares	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Stock Compensation Expense (Details) - Schedule of Equity Incentive Plan [Line Items]
2022 Omnibus Incentive Plan		12,358,689
2022 Employee Stock Purchase Plan		75,000,000
Amended 2019 Equity Incentive Plan		23,380,173
Awards Outstanding [Member]
Stock Compensation Expense (Details) - Schedule of Equity Incentive Plan [Line Items]
2022 Omnibus Incentive Plan	1,271,917	1,238,667
2022 Employee Stock Purchase Plan
Amended 2019 Equity Incentive Plan	22,440,250	19,977,366
Awards Available for Grant [Member]
Stock Compensation Expense (Details) - Schedule of Equity Incentive Plan [Line Items]
2022 Omnibus Incentive Plan	11,086,772	11,120,022
2022 Employee Stock Purchase Plan	75,000,000	75,000,000
Amended 2019 Equity Incentive Plan	939,923	3,402,807

Stock Compensation Expense

3 Months Ended

12 Months Ended

Mar. 31, 2023

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

STOCK COMPENSATION EXPENSE

8. STOCK COMPENSATION EXPENSE

2022 Omnibus Incentive Plan

On October 24, 2021, the stockholders of the Company approved the 2022 Omnibus Incentive Plan (the “OIP”), which became effective as of the Closing Date of the Business Combination. The OIP allows grants of incentive stock options, non-statutory stock options, stock appreciation rights, restricted stocks, restricted stock units, stock bonuses, other stock-based awards, cash awards, and substitute awards (“the “OIP Awards”) to selected officers, employees, partners, non-employee directors, independent contractors, and consultants. The Company has 12,358,689 shares of the Company’s common stock reserved for issuance pursuant to awards that may be granted under the OIP. As of March 31, 2023, 536,250 shares of the Company’s common stock are subject to restricted stock awards.

2022 Employee Stock Purchase Plan

On October 24, 2021, the stockholders of the Company approved the 2022 Employee Stock Purchase Plan (the “ESPP”), which became effective as of the Closing Date of the Business Combination. An aggregate of 1,791,416 shares of the Company’s common stock has been reserved for issuance or transfer pursuant to rights granted under the ESPP (“Aggregate Number”). The Aggregate Number represents 2% of the aggregate number of shares of the Company’s fully diluted shares outstanding immediately after the Closing and is subject to increase each year over a ten-year period. The maximum aggregate number of shares of common stock available for issuance under ESPP shall not exceed 75,000,000 shares. The ESPP will be implemented through a series of offerings of purchase rights to eligible employees. Each eligible employee may authorize payroll deductions at a minimum of 1% up to a maximum of 15% on a pro rata basis for each pay period during an offering. Under the ESPP, the Company’s Board may designate the period of each offering, but no offering shall exceed 27 months

in duration. Unless otherwise determined, the offering shall be for a purchase period of 6 months, beginning on the offering date and ending on the exercise date. The purchase price for each share shall be 85% of the fair market value of the Company’s common stock on the offering date or the exercise date, whichever is less. As of March 31, 2023, no awards have been granted under this plan.

Amended and Restated 2019 Equity Incentive Plan

The Company maintains an equity incentive plan established in October 2019, the Amended 2019 Equity Incentive Plan (the “Legacy FaZe Plan”). The Legacy FaZe Plan allows grants of incentive stock options, non-statutory stock options, stock appreciation rights, restricted stock and restricted stock units, generally to directors, employees, consultants and service providers. In July 2021, the Company’s Board amended the Legacy FaZe Plan and increased the maximum aggregate number of shares authorized to be issued to 10,500,000 shares of Legacy FaZe common stock, which is equivalent to 23,380,173 shares of the Company’s common stock calculated using the Equity Value Exchange Ratio. As of March 31, 2023, 16,378,227 shares of the Company’s common stock are issuable upon the vesting and exercise of stock options originally granted under the Legacy FaZe Plan, and 1,064,968 shares of the Company’s common stock are subject to restricted stock awards originally granted under the Legacy FaZe Plan.

The following table contains information about the Company’s equity compensation plans as of March 31, 2023:

	Awards Reserved for Issuance	Awards Outstanding	Awards Available for Grant
2022 Omnibus Incentive Plan	12,358,689	1,271,917	11,086,772
2022 Employee Stock Purchase Plan	75,000,000	—	75,000,000
Amended 2019 Equity Incentive Plan	23,380,173	22,440,250	939,923

Stock Compensation Expense

Stock-based compensation expense for the periods presented was comprised of the following, which were included in general and administrative expenses within the Consolidated Statements of Operations:

	(In thousands)
	For the three months ended March 31,
	2023		2022
Stock options	$	6	$	56
Restricted stock awards		2,666		1,094
Total stock-based compensation expense	$	2,672	$	1,150

Options

The following is an analysis of the stock option grant activity during the three months ended March 31, 2023:

Vested and Nonvested Stock Options	Number		Weighted Average Exercise Price		Weighted Average Remaining Life
Outstanding December 31, 2022	18,863,654		$	0.38	4.13
Granted	—			—	—
Exercised	(2,050,920	)		0.38	—
Expired or forfeited	—			—	—
Outstanding March 31, 2023	16,812,734		$	0.38	3.88

Nonvested Stock Options	Number		Weighted- Average Exercise Price
Nonvested on December 31, 2022	670,008		$	0.38
Granted	—			—
Vested	(81,101	)		0.38
Forfeited	—			—
Nonvested on March 31, 2023	588,907		$	0.38

The Company recognized stock-based compensation expense related to options granted and vesting expense of $6 thousand during the three months ended March 31, 2023, which is included in general and administrative expenses. The Company recognized stock-based compensation expense related to options issued and vesting of $56 thousand during the three months ended March 31, 2022, which is included in general and administrative expenses.

During the three months ended March 31, 2023 and 2022, the Company granted a total of 0 and 0 options, respectively.

Warrants

The following is an analysis of the warrant grant activity during the three months ended March 31, 2023:

Vested and Nonvested Stock Warrants	Number	Weighted Average Exercise Price		Weighted Average Remaining Life
Outstanding December 31, 2022	5,923,333	$	11.50	4.55
Granted	—		—	—
Exercised	—		—	—
Expired or forfeited	—		—	—
Outstanding March 31, 2023	5,923,333	$	11.50	4.30

During the three months ended March 31, 2023 and 2022, the Company granted a total of 0 and 0 warrants, respectively. As of March 31, 2023 there are no Nonvested Stock Warrants outstanding.

Restricted Stock Awards

A summary of Restricted Stock Awards (“RSAs”) issuances during the three months ended March 31, 2023 is as follows:

Nonvested RSAs	Number		Weighted Average Price
Nonvested December 31, 2022	1,649,962		$	6.27
Granted	—			—
Vested	(48,744	)		6.00
Forfeited	—
Nonvested March 31, 2023	1,601,218		$	6.28

The Company recognized stock-based compensation expense related to RSAs granted and vesting expense of $2.5 million and $1.1 million during the three months ended March 31, 2023 and 2022, respectively, which is included in general and administrative expenses.

During the three months ended March 31, 2023 and 2022, the Company granted a total of 0 and 212,827 RSAs, respectively.

Restricted Stock Units

A summary of Restricted Stock Units (“RSUs”) issuances during the three months ended March 31, 2023 is as follows:

Nonvested RSUs	Number		Weighted Average Price
Nonvested December 31, 2022	702,417		$	2.79
Granted	95,000			1.09
Vested	(57,250	)		2.63
Forfeited	(4,500	)
Nonvested March 31, 2023	735,667		$	2.48

The Company recognized stock-based compensation expense related to RSUs granted and vesting expense of $0 million and $0 during the three months ended March 31, 2023 and 2022, respectively, which is included in general and administrative expenses.

During the three months ended March 31, 2023 and 2022, the Company granted a total of 95,000 and 0 RSUs, respectively.

10. STOCK COMPENSATION EXPENSE

2022 Omnibus Incentive Plan

On October 24, 2021, the stockholders of the Company approved the 2022 Omnibus Incentive Plan (the “OIP”), which became effective as of the Closing Date of the Business Combination. The OIP allows grants of incentive stock options, non-statutory stock options, stock appreciation rights, restricted stocks, restricted stock units, stock bonuses, other stock-based awards, cash awards, and substitute awards (“the “OIP Awards”) to selected officers, employees, partners, non-employee directors, independent contractors, and consultants. The Company has 12,358,689 shares of common stock, $0.0001 par value per share, reserved for issuance pursuant to awards that may be granted under OIP. As of December 31, 2022, 655,000 shares of the Company’s common stock are subject to restricted stock award.

2022 Employee Stock Purchase Plan

On October 24, 2021, the stockholders of the Company approved the 2022 Employee Stock Purchase Plan (the “ESPP”), which became effective as of the Closing Date of the Business Combination. An aggregate of 1,791,416 shares of the Company’s common stock has been reserved for issuance or transfer pursuant to rights granted under the ESPP (“Aggregate Number”). The Aggregate Number represents 2% of the aggregate number of shares of the Company’s fully diluted shares outstanding immediately after the Closing and is subject to increase each year over a ten-year period. The maximum aggregate number of shares of common stock available for issuance under ESPP shall not exceed 75,000,000 shares. The ESPP will be implemented through a series of offerings of purchase rights to eligible employees. Each eligible employee may authorize payroll deductions at a minimum of 1% up to a maximum of 15% on a pro rate basis for each pay period during an offering. Under the ESPP, the Company’s Board may designate the period of each offering but no offering shall exceed 27 months in duration. Unless otherwise determined, the offering shall be for a purchase period of 6 months, beginning on the offering date and ending on the exercise date. The purchase price for each share shall be 85% of the fair market value of the Company’s common stock on the offering date or the exercise date, whichever is less. As of December 31, 2022, no awards have been granted under this plan.

Amended and Restated 2019 Equity Incentive Plan

The Company maintains an equity incentive plan established in October 2019, the 2019 Equity Incentive Plan (the “Legacy FaZe Plan”). The Legacy FaZe Plan allows grants of incentive stock options, non-statutory stock options, stock appreciation rights, restricted stock and restricted stock units, generally to directors, employees, consultants and service providers. In July 2021, the Company’s Board amended the Legacy FaZe Plan and increased the maximum aggregate number of shares authorized to be issued to 10,500,000 shares of Legacy FaZe common stock, which is equivalent to 23,380,173 shares of the Company’s common stock calculated using

the Equity Value Exchange Ratio. As of December 31, 2022, 18,863,654 shares of the Company’s common stock are issuable upon the vesting and exercise of stock options originally granted under the Legacy FaZe Plan, and 1,649,962 shares of the Company’s common stock are subject to restricted stock awards originally granted under the Legacy FaZe Plan.

The following table contains information about the plan as of December 31, 2022:

	Awards Reserved for Issuance	Awards Outstanding	Awards Available for Grant
2022 Omnibus Incentive Plan	12,358,689	1,238,667	11,120,022
2022 Employee Stock Purchase Plan	75,000,000	—	75,000,000
Amended 2019 Equity Incentive Plan	23,380,173	19,977,366	3,402,807

Stock Compensation Expense

Stock-based compensation expense for the periods presented was comprised of the following, which were included in general and administrative expenses within the Consolidated Statements of Operations:

	(in thousands)
	For the year ended December 31,
	2022		2021
Stock options	$	469	$	1,635
Restricted stock awards		9,698		2
Total stock – based compensation expense	$	10,167	$	1,637

Options

The following is an analysis of the stock option grant activity:

Vested and Nonvested Stock Options	Number		Weighted Average Exercise Price		Weighted Average Remaining Life
Outstanding December 31, 2021	19,912,281		$	0.38	4.86
Granted	—			—	—
Exercised	(1,048,627	)		0.38	—
Expired or forfeited	—			—	—
Outstanding December 31, 2022	18,863,654		$	0.38	4.13

Nonvested Stock Options	Number		Weighted- Average Exercise Price
Nonvested on December 31, 2021	6,867,852		$	0.38
Granted	—			—
Vested	(6,197,824	)		0.38
Forfeited	—			—
Nonvested on September 30, 2022	670,008		$	0.38

The Company recognized stock-based compensation expense related to options granted and vesting expense of $0.5 million during the year ended December 31, 2022, which is included in general and administrative expenses. The Company recognized stock-based compensation expense related to options issued and vesting of $1.6 million during the year ended December 31, 2021, which is included in general and administrative expenses.

During the years ended December 31, 2022 and 2021, the Company granted a total of 0 and 11,545,084 options, respectively.

Warrants

The following is an analysis of the warrant grant activity:

Vested and Nonvested Stock Warrants	Number		Weighted Average Exercise Price		Weighted Average Remaining Life
Outstanding December 31, 2021	6,575,284		$	10.41	5.79
Granted	—			—	—
Exercised	(651,951	)		0.53	—
Expired or forfeited	—			—	—
Outstanding December 31, 2022	5,923,333		$	11.50	4.55

Nonvested Stock Warrants	Number	Weighted- Average Exercise Price
Nonvested on December 31, 2021	—	$	—
Granted	—		—
Vested	—		—
Forfeited	—		—
Nonvested on December 31, 2022	—	$	—

During the years ended December 31, 2022 and 2021, the Company granted a total of 0 and 0 warrants, respectively.

Restricted Stock Awards

A summary of Restricted Stock Awards (“RSAs”) issuances are as follows:

Nonvested RSAs	Number		Weighted Average Price
Nonvested December 31, 2021	167,277		$	5.78
Granted	1,774,698			6.30
Vested	(289,013	)		5.99
Forfeited	—			—
Nonvested December 31, 2022	1,649,962		$	6.27

The Company recognized stock-based compensation expense related to RSAs granted and vesting expense of $9.0 million and $0.1 million during the years ended December 31, 2022 and 2021, respectively, which is included in general and administrative expenses.

During the years ended December 31, 2022 and 2021, the Company granted a total of 2,899,372 and 1,391,930 RSAs, respectively.

Restricted Stock Units

A summary of Restricted Stock Units (“RSUs”) issuances are as follows:

Nonvested RSUs	Number		Weighted Average Price
Nonvested December 31, 2021	—		$	—
Granted	1,124,674			2.68
Vested	(422,257	)		2.50
Forfeited	—			—
Nonvested December 31, 2022	702,417		$	2.79

The Company recognized stock-based compensation expense related to RSUs granted and vesting expense of $1.6 million and $0 during the years ended December 31, 2022 and 2021, respectively, which is included in general and administrative expenses.

During the years ended December 31, 2022 and 2021, the Company granted a total of 1,124,674 and 0 RSUs, respectively.