Destiny Media Technologies Inc. Announces Fiscal 2025 Second Quarter Results
Destiny Media Technologies (OTCQB: DSNY), provider of Play MPE cloud-based SaaS solution for music industry digital asset management, reported its fiscal 2025 second quarter results ended February 28, 2025.
Key financial highlights include:
- Revenue reached $1M, showing a 3.3% increase compared to Q2 FY2024
- Net loss of $0.3M, primarily attributed to one-time litigation costs
- Adjusted EBITDA declined to ($0.12M) from ($0.05M) in 2024
- MTR™ revenue grew 20% quarter over quarter
The company reported progress on developing a new checkout experience aimed at scaling revenue growth more effectively, along with new Play MPE features designed to enhance network expansion through organic ecosystem growth.
Destiny Media Technologies (OTCQB: DSNY), fornitore della soluzione SaaS basata su cloud Play MPE per la gestione degli asset digitali nell'industria musicale, ha riportato i risultati del secondo trimestre fiscale 2025 conclusosi il 28 febbraio 2025.
I principali punti finanziari includono:
- Il fatturato ha raggiunto $1M, evidenziando un aumento del 3,3% rispetto al secondo trimestre dell'anno fiscale 2024
- Perdita netta di $0.3M, principalmente attribuita a costi legali una tantum
- EBITDA rettificato sceso a ($0.12M) rispetto a ($0.05M) nel 2024
- Il fatturato di MTR™ è cresciuto del 20% rispetto al trimestre precedente
L'azienda ha riportato progressi nello sviluppo di una nuova esperienza di checkout mirata a scalare la crescita dei ricavi in modo più efficace, insieme a nuove funzionalità di Play MPE progettate per migliorare l'espansione della rete attraverso la crescita organica dell'ecosistema.
Destiny Media Technologies (OTCQB: DSNY), proveedor de la solución SaaS basada en la nube Play MPE para la gestión de activos digitales en la industria musical, reportó sus resultados del segundo trimestre fiscal 2025 que finalizó el 28 de febrero de 2025.
Los aspectos financieros clave incluyen:
- Los ingresos alcanzaron $1M, mostrando un aumento del 3.3% en comparación con el segundo trimestre del año fiscal 2024
- Pérdida neta de $0.3M, atribuida principalmente a costos legales únicos
- El EBITDA ajustado disminuyó a ($0.12M) desde ($0.05M) en 2024
- Los ingresos de MTR™ crecieron un 20% trimestre a trimestre
La empresa informó sobre avances en el desarrollo de una nueva experiencia de pago destinada a escalar el crecimiento de ingresos de manera más efectiva, junto con nuevas características de Play MPE diseñadas para mejorar la expansión de la red a través del crecimiento orgánico del ecosistema.
Destiny Media Technologies (OTCQB: DSNY)은 음악 산업의 디지털 자산 관리를 위한 클라우드 기반 SaaS 솔루션인 Play MPE의 제공업체로, 2025 회계연도 2분기 결과를 2025년 2월 28일 기준으로 보고했습니다.
주요 재무 하이라이트는 다음과 같습니다:
- 수익은 $1M에 도달하여 2024 회계연도 2분기 대비 3.3% 증가했습니다.
- 순손실은 $0.3M으로, 주로 일회성 소송 비용 때문입니다.
- 조정된 EBITDA는 2024년의 ($0.05M)에서 ($0.12M)로 감소했습니다.
- MTR™ 수익은 분기 대비 20% 증가했습니다.
회사는 수익 성장을 보다 효과적으로 확대하기 위한 새로운 체크아웃 경험 개발과 유기적 생태계 성장을 통한 네트워크 확장을 강화하기 위해 설계된 새로운 Play MPE 기능에 대한 진행 상황을 보고했습니다.
Destiny Media Technologies (OTCQB: DSNY), fournisseur de la solution SaaS basée sur le cloud Play MPE pour la gestion des actifs numériques dans l'industrie musicale, a annoncé ses résultats du deuxième trimestre fiscal 2025, se terminant le 28 février 2025.
Les principaux points financiers incluent:
- Les revenus ont atteint $1M, affichant une augmentation de 3,3 % par rapport au deuxième trimestre de l'exercice 2024
- Perte nette de $0.3M, principalement attribuée à des coûts juridiques exceptionnels
- EBITDA ajusté a diminué à ($0.12M) contre ($0.05M) en 2024
- Les revenus de MTR™ ont augmenté de 20% d'un trimestre à l'autre
L'entreprise a fait état de progrès dans le développement d'une nouvelle expérience de paiement visant à mieux échelonner la croissance des revenus, ainsi que de nouvelles fonctionnalités de Play MPE conçues pour améliorer l'expansion du réseau grâce à une croissance organique de l'écosystème.
Destiny Media Technologies (OTCQB: DSNY), Anbieter der cloudbasierten SaaS-Lösung Play MPE für das digitale Asset-Management in der Musikindustrie, hat die Ergebnisse des zweiten Quartals des Geschäftsjahres 2025 veröffentlicht, das am 28. Februar 2025 endete.
Wichtige finanzielle Höhepunkte umfassen:
- Der Umsatz erreichte $1M, was einem Anstieg von 3,3 % im Vergleich zum zweiten Quartal des Geschäftsjahres 2024 entspricht
- Nettoverlust von $0.3M, hauptsächlich zurückzuführen auf einmalige Rechtskosten
- Das bereinigte EBITDA fiel auf ($0.12M) von ($0.05M) im Jahr 2024
- MTR™-Umsatz wuchs im Quartalsvergleich um 20%
Das Unternehmen berichtete über Fortschritte bei der Entwicklung eines neuen Checkout-Erlebnisses, das darauf abzielt, das Umsatzwachstum effektiver zu skalieren, sowie über neue Play MPE-Funktionen, die darauf ausgelegt sind, die Netzwerkausweitung durch organisches Wachstum des Ökosystems zu verbessern.
- Revenue increased 3.3% year-over-year to $1M
- MTR revenue grew 20% quarter-over-quarter
- Development of new checkout experience to scale revenue growth
- Net loss of $0.3M due to litigation costs
- Adjusted EBITDA declined to ($0.12M) from ($0.05M) year-over-year
Vancouver, British Columbia--(Newsfile Corp. - April 14, 2025) - Destiny Media Technologies Inc. (TSXV: DSY) (OTCQB: DSNY), the makers of Play MPE®, a cloud-based SaaS solution for digital asset management in the music industry, today announced financial results for its fiscal 2025 second quarter ended February 28, 2025.
"We achieved a
Financial Highlights
Q2 FY2025 vs Q2 FY2024
Revenue
$1M , an increase of3.3% Net loss of
$0.3M , largely from one-time litigation costsAdjusted EBITDA of (
$0.12M ) (2024 - ($0.05M )20% growth in MTR™ revenue Q over Q.
Fiscal 2025 Second Quarter Earnings Webinar
Destiny Media Technologies will hold a live webinar on Monday, April 14, 2025 at 2:00 p.m. Pacific Standard Time (5:00 p.m. Eastern Standard Time) to discuss financial results for its fiscal 2025 Second quarter ended February 28, 2025.
Date: Monday, April 14, 2025
Time: 2:00 p.m. Pacific Standard Time (5:00 p.m. Eastern Standard Time)
Attendees are encouraged to register prior to the scheduled time at the following:
https://investors.dsny.com/investors/financials/ or by clicking on the Webinar Registration Form.
Attendees of the webinar can submit questions voluntarily during the live presentation. Cameras will remain off for all attendees throughout the session. Microphones will also remain muted unless an attendee chooses to engage in verbal questions, similar to the format used in traditional conference calls.
The webinar format will provide the Company an opportunity to present visual information.
For those without internet access, the webinar can be accessed via the following dial in details:
Direct dial in US: +1 346 248 7799 or +1 360 209 5623 or More International numbers
Webinar ID: 817 1581 2583
Attendees participating via dial-in will not have access to the webinar video stream or the question and answer functions.
A recording of the webinar will be available after the event at https://investors.dsny.com/investors/financials/
About Destiny Media Technologies Inc.
Destiny Media Technologies ("Destiny") provides software as service (SaaS) solutions to businesses in the music industry solving critical problems in distribution and promotion. The core service, Play MPE® (www.plaympe.com), provides promotional music marketing to engaged networks of decision makers in radio, film, TV, and beyond. More information can be found at www.dsny.com.
Forward-Looking Statements
This release contains forward-looking statements that reflect current views with respect to future events and operating performance. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected in these forward-looking statements. Destiny Media Technologies is not obligated to update these statements in the future. For more information on the Company's risks and uncertainties relating to those forward-looking statements, please refer to the Risk Factors section in our Annual Form 10-K for the fiscal year ended August 31, 2024, which is available on www.sedar.com or www.sec.gov.
Contact:
Fred Vandenberg
CEO, Destiny Media Technologies, Inc.
604 609 7736 x236
DESTINY MEDIA TECHNOLOGIES, INC.
Condensed Consolidated Statements of Comprehensive Income
(Unaudited)
| Three months ended | Six months ended | |||||||||||||
| Notes | February 28, 2025 | February 29, 2024 | February 28, 2025 | February 29, 2024 | ||||||||||
| Service revenue | 8 | $ | 1,018,972 | $ | 986,338 | $ | 2,245,729 | $ | 2,141,140 | |||||
| Cost of revenue | ||||||||||||||
| Hosting costs | 41,387 | 32,383 | 88,328 | 60,656 | ||||||||||
| Internal engineering support | 13,768 | 12,926 | 27,133 | 29,996 | ||||||||||
| Customer support | 78,020 | 73,247 | 153,753 | 169,975 | ||||||||||
| Third-party and transactions costs | 16,112 | 16,790 | 36,188 | 38,137 | ||||||||||
| 149,287 | 135,346 | 305,402 | 298,764 | |||||||||||
| Gross margin | 869,685 | 850,992 | 1,940,327 | 1,842,376 | ||||||||||
| Operating expenses | ||||||||||||||
| General and administrative | 394,890 | 205,255 | 546,219 | 353,147 | ||||||||||
| Sales and marketing | 171,923 | 285,001 | 402,481 | 500,858 | ||||||||||
| Product development | 427,735 | 419,183 | 839,779 | 727,730 | ||||||||||
| Depreciation and amortization | 4,5 | 183,724 | 87,026 | 350,703 | 168,124 | |||||||||
| 1,178,272 | 996,465 | 2,139,182 | 1,749,859 | |||||||||||
| Income (loss) from operations | (308,587 | ) | (145,473 | ) | (198,855 | ) | 92,517 | |||||||
| Other income | ||||||||||||||
| Interest and other income | 6,493 | 15,461 | 14,901 | 26,987 | ||||||||||
| Net income (loss) before income tax | $ | (302,094 | ) | $ | (130,012 | ) | $ | (183,954 | ) | $ | 119,504 | |||
| Current income tax expense | - | - | - | - | ||||||||||
| Net income (loss) | $ | (302,094 | ) | $ | (130,012 | ) | $ | (183,954 | ) | $ | 119,504 | |||
| Foreign currency translation adjustments | (85,967 | ) | 2,341 | (198,636 | ) | (10,351 | ) | |||||||
| Total comprehensive income (loss) | $ | (388,061 | ) | $ | (127,671 | ) | $ | (382,590 | ) | $ | 109,153 | |||
| Net income (loss) per common share | ||||||||||||||
| Basic and diluted | 6 | $ | (0.03 | ) | $ | (0.01 | ) | $ | (0.02 | ) | $ | 0.01 | ||
| Weighted average common shares outstanding: | ||||||||||||||
| Basic | 6 | 9,637,410 | 9,842,720 | 9,637,410 | 9,926,627 | |||||||||
| Diluted | 6 | 9,637,410 | 10,107,554 | 9,637,410 | 10,191,461 | |||||||||
DESTINY MEDIA TECHNOLOGIES, INC.
Condensed Consolidated Balance Sheets
| Notes | February 28, 2025 | August 31, 2024 | ||||||
| (unaudited) | (audited) | |||||||
| ASSETS | ||||||||
| Cash and cash equivalents | 3 | $ | 1,216,378 | $ | 1,481,582 | |||
| Accounts receivable, net of allowance for credit losses of (August 31, 2024 - | 726,973 | 681,146 | ||||||
| Other receivables | 108,246 | 82,585 | ||||||
| Prepaid expenses | 42,910 | 87,345 | ||||||
| Deposits | 30,253 | 32,347 | ||||||
| Total current assets | 2,124,760 | 2,365,005 | ||||||
| Property and equipment, net | 4 | 958,074 | 1,174,370 | |||||
| Intangible assets, net | 5 | 155,958 | 148,977 | |||||
| Total assets | $ | 3,238,792 | $ | 3,688,352 | ||||
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||
| Current | ||||||||
| Accounts payable | $ | 156,294 | $ | 151,734 | ||||
| Accrued liabilities | 252,625 | 328,801 | ||||||
| Deferred revenue | 28,142 | 42,399 | ||||||
| Total current liabilities | 437,061 | 522,934 | ||||||
| Total liabilities | 437,061 | 522,934 | ||||||
| Stockholders' equity | ||||||||
| Common stock, par value Issued and outstanding - 9,637,410 shares (August 31, 2024 - 9,637,410 shares) | 6 | 9,637 | 9,637 | |||||
| Additional paid-in capital | 8,838,688 | 8,819,785 | ||||||
| Accumulated deficit | (5,376,563 | ) | (5,192,609 | ) | ||||
| Accumulated other comprehensive loss | (670,031 | ) | (471,395 | ) | ||||
| Total stockholders' equity | 2,801,731 | 3,165,418 | ||||||
| Total liabilities and stockholders' equity | $ | 3,238,792 | $ | 3,688,352 |
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/248354
FAQ
What was DSNY's revenue growth in Q2 2025 compared to Q2 2024?
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