ESH is a data collection company, page-14

I might be completely of the mark here, but I think calling Mogul a data collection company is a misnomer. They aren't making money from data sales... Technically they aren't making money at all, but as far as I understand the core business is till focused on tiered esport solutions to big business.
Salesforce is CRM that makes money (90%+ of it anyway) from enterprise client management solutions - licenses and subscriptions of their platforms etc.
Using Data collection is a component of that, to improve their platform and improve automation and analytics, but its the same way that Mogul utilizes data to sell its underlying business - complete end to end esports solutions to big brands.
They have definitely pivoted but I wouldn't suggest that is their core business model at this stage.
Regardless of my accuracy the underlying concern is both business models rely on tournaments with large enough utilisation, and there doesn't seem to a lot of them going on.
Data collection or esport platform they need to be able to demonstrate ability to create consistent and scaleable revenue streams, or some strategic plans around what the next few years look like.