Dolphin Entertainment (DLPN) Q2 2026 revenue grows as losses deepen, management eyes cash savings

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Filing Exhibits & Attachments

Q: How did Dolphin Entertainment (DLPN) perform financially in Q2 2026?

Q: What were Dolphin Entertainment’s (DLPN) first-half 2026 results?

Q: How did Dolphin Entertainment’s (DLPN) Adjusted EBITDA change in Q2 2026?

Q: What one-time costs affected Dolphin Entertainment’s (DLPN) Q2 2026 results?

Q: What is Dolphin Entertainment’s (DLPN) balance sheet position as of June 30, 2026?

Q: What tax and cost-saving benefits does Dolphin Entertainment (DLPN) highlight?

Q: Is Dolphin Entertainment (DLPN) providing any EPS measures beyond GAAP?

Positive

Negative

8-K Event Classification

Key Figures

Key Terms

Earnings Snapshot

How did Dolphin Entertainment (DLPN) perform financially in Q2 2026?

What were Dolphin Entertainment’s (DLPN) first-half 2026 results?

How did Dolphin Entertainment’s (DLPN) Adjusted EBITDA change in Q2 2026?

What one-time costs affected Dolphin Entertainment’s (DLPN) Q2 2026 results?

What is Dolphin Entertainment’s (DLPN) balance sheet position as of June 30, 2026?

What tax and cost-saving benefits does Dolphin Entertainment (DLPN) highlight?

Is Dolphin Entertainment (DLPN) providing any EPS measures beyond GAAP?

Press Releases

Dolphin Entertainment reported Q2 2026 revenue of $14.4 million , up 2.5% year over year, and a net loss of $1.6 million , compared with a $1.4 million net loss in the prior-year quarter.

For the six months ended June 30, 2026, Dolphin generated $27.2 million in revenue , up 3.8% year over year, and recorded a net loss of $4.3 million , compared with a $3.7 million net loss in the first half of 2025.

Adjusted EBITDA for Q2 2026 was $0.24 million , down from $0.63 million in Q2 2025. For the first half, Adjusted EBITDA was a loss of $0.22 million versus a loss of $0.08 million a year earlier.

Results were impacted by $360,000 in retention bonuses and about $360,000 in litigation-related legal costs in Q2 2026, which management characterizes as non-recurring or moderating headwinds.

As of June 30, 2026, Dolphin reported total assets of $54.9 million , total liabilities of $48.7 million , and stockholders’ equity of $6.2 million , along with cash and cash equivalents of $7.7 million .

The company cites approximately $127 million in NOL carryforwards , expected to reduce cash taxes, and anticipates nearly $2.2 million in annual savings from bank debt maturing plus about $1 million in annual lease savings after key leases expire.

Yes. Dolphin reports Adjusted EPS based on Adjusted EBITDA, with Q2 2026 Adjusted basic EPS of $0.02 compared with $0.06 in Q2 2025, and similarly calculated fully diluted figures.

Filing Impact

(High)

Filing Sentiment

(Neutral)

Form Type

8-K

Dolphin Entertainment, Inc. reported modest top-line growth but wider losses for the quarter and half year ended June 30, 2026. Second-quarter revenue rose 2.5% year over year to $14.4 million, with first-half 2026 revenue up 3.8% to $27.2 million. The company operates entertainment marketing agencies and a content-focused venture studio.

Despite higher revenue, Dolphin posted a second-quarter net loss of $1.6 million, compared with $1.4 million a year earlier, and a first-half net loss of $4.3 million versus $3.7 million. Management cited $360,000 of retention bonuses and about $360,000 of litigation-related legal costs as key temporary headwinds. Adjusted EBITDA declined to $0.24 million in Q2 from $0.63 million and was slightly negative for the first half.

On the balance sheet, total assets were $54.9 million with stockholders’ equity of $6.2 million. The company highlighted approximately $127 million in NOL carryforwards, expected annual savings of nearly $2.2 million once bank debt matures in just over two years, and roughly $1 million in anticipated annual lease savings after major New York and Los Angeles leases expire in the second half of 2027. Management expects these factors to support future free cash flow and noted an existing 10b5-1 buying plan under which the CEO expects to own over 5% of the common stock.

None.

Net loss widened to $4.3 million for the first half of 2026 from $3.7 million a year earlier, reflecting higher operating costs despite revenue growth.

By June 30, Dolphin had more common shares outstanding, reducing existing holders’ percentage ownership absent offsetting changes.

As of June 30, 2026, Dolphin reported 13,025,551 common shares issued and outstanding, up from 12,221,432 at December 31, 2025.

That higher reported share count means an existing holder's percentage ownership is lower if no offsetting changes occurred.

Dilution is the ownership effect of additional shares increasing the total share count and reducing an existing holder's percentage ownership.

The June 30, 2026 balance sheet showed cash and equivalents of $7,665,608, down from $8,756,585 at year-end, while stockholders' equity was $6,219,516, down from $9,690,425.

2 items: 2.02, 9.01

2 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Q2 2026 Revenue: $14,443,150 H1 2026 Revenue: $27,247,088 Q2 2026 Net Loss: $1,605,542 +5 more

8 metrics

Q2 2026 Revenue $14,443,150 Three months ended June 30, 2026 revenue, up 2.5% year over year

H1 2026 Revenue $27,247,088 Six months ended June 30, 2026 revenue, up 3.8% year over year

Q2 2026 Net Loss $1,605,542 Net loss for the three months ended June 30, 2026

H1 2026 Net Loss $4,297,576 Net loss for the six months ended June 30, 2026

Q2 2026 Adjusted EBITDA $242,923 Non-GAAP Adjusted EBITDA for the three months ended June 30, 2026

Total Assets $54,900,438 Total assets as of June 30, 2026

Stockholders’ Equity $6,219,516 Stockholders’ equity as of June 30, 2026

NOL Carryforwards $127,000,000 Approximate net operating loss carryforwards referenced by management

Adjusted EBITDA, Adjusted EPS, NOL carryforwards, Convertible notes payable, +2 more

6 terms

Adjusted EBITDA financial

"Adjusted EBITDA is defined by Dolphin as net (loss) or income adjusted for..."

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

Adjusted EPS financial

"Beginning this quarter, the Company is also presenting Adjusted EPS."

Adjusted earnings per share (adjusted eps) is a measure of a company's profit per share that has been modified to exclude certain one-time or unusual items, such as costs from restructuring or asset sales. It provides a clearer picture of the company’s core performance by removing events that may distort the usual earnings. Investors use adjusted eps to better understand a company's ongoing profitability and compare it more accurately over time.

NOL carryforwards financial

"with approximately $127 million in NOL carryforwards, we remain confident..."

Net operating loss (NOL) carryforwards are tax losses from prior years that a company is allowed to apply against future taxable profits, like a store credit that reduces the amount it owes later. They matter to investors because they can lower future tax bills, boost expected cash flow and reported earnings, and therefore affect a company’s valuation and how quickly it can turn losses into sustainable profits.

Convertible notes payable financial

"Convertible notes payable, noncurrent portion | | | 6,550,000..."

A convertible notes payable is a company loan recorded as debt that can later be exchanged for shares of the company instead of being repaid in cash. Investors care because it affects both the company’s obligations and ownership: it temporarily increases debt on the balance sheet but can dilute existing shareholders if converted, much like an IOU that can either be paid back or traded in for a slice of the business.

Loss on extinguishment of debt financial

"Loss on extinguishment of debt | | | — | | | | (835,324 | )..."

Loss on extinguishment of debt is the accounting hit a company records when it retires or restructures a loan or bond for an amount that exceeds the debt’s recorded value—like paying more than the remaining balance to settle a loan early. It matters to investors because it reduces reported profit and can use cash, but may also cut future interest costs or signal financial stress; understanding it helps assess earnings quality and balance-sheet strength.

Right-of-use assets financial

"Right-of-use assets | | | 2,207,557 | | | | 3,012,941 |"

Right-of-use assets are the rights a company gains to use a physical space or equipment under a lease agreement. They are recorded as assets on the company's balance sheet, reflecting the value of future benefits from the leased item. For investors, these assets provide a clearer picture of a company's obligations and resources related to leasing arrangements, helping to assess its financial health and operational commitments.

Revenue Q2 2026 vs Q2 2025: $14,443,150 vs $14,087,529 · Guidance included

Three and six months ended June 30, 2026

Revenue Q2 2026 vs Q2 2025 $14,443,150 vs $14,087,529 Revenue increased modestly year over year.

Net loss Q2 2026 vs Q2 2025 $1,605,542 vs $1,413,918 Net loss widened due to higher operating costs and one-time items.

Adjusted EBITDA Q2 2026 vs Q2 2025 $242,923 vs $627,905 Adjusted EBITDA decreased from the prior-year quarter.

H1 2026 revenue vs H1 2025 $27,247,088 vs $26,257,240 First-half revenue grew year over year.

H1 2026 net loss vs H1 2025 $4,297,576 vs $3,742,980 First-half net loss increased compared with the prior year.

Guidance

Management expects a meaningful sequential improvement in profitability in the third quarter as retention bonuses and elevated legal costs subside, and highlights future savings from bank debt maturity and lease expirations, along with substantial NOL carryforwards supporting free cash flow.

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Available on EDGAR 08/12/2026 - 04:59 PM Accepted by SEC EDGAR 08/12/2026 - 04:58 PM

Dolphin Entertainment reported Q2 2026 revenue of $14.4 million, up 2.5% year over year, and a net loss of $1.6 million, compared with a $1.4 million net loss in the prior-year quarter.

For the six months ended June 30, 2026, Dolphin generated $27.2 million in revenue, up 3.8% year over year, and recorded a net loss of $4.3 million, compared with a $3.7 million net loss in the first half of 2025.

Adjusted EBITDA for Q2 2026 was $0.24 million, down from $0.63 million in Q2 2025. For the first half, Adjusted EBITDA was a loss of $0.22 million versus a loss of $0.08 million a year earlier.

Results were impacted by $360,000 in retention bonuses and about $360,000 in litigation-related legal costs in Q2 2026, which management characterizes as non-recurring or moderating headwinds.

As of June 30, 2026, Dolphin reported total assets of $54.9 million, total liabilities of $48.7 million, and stockholders’ equity of $6.2 million, along with cash and cash equivalents of $7.7 million.

The company cites approximately $127 million in NOL carryforwards, expected to reduce cash taxes, and anticipates nearly $2.2 million in annual savings from bank debt maturing plus about $1 million in annual lease savings after key leases expire.

Yes. Dolphin reports Adjusted EPS based on Adjusted EBITDA, with Q2 2026 Adjusted basic EPS of $0.02 compared with $0.06 in Q2 2025, and similarly calculated fully diluted figures.

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

Current Report
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 12, 2026

DOLPHIN ENTERTAINMENT, INC.
(Exact name of registrant as specified in its charter)

Florida	001-38331	86-0787790
(State or other jurisdiction	(Commission	(IRS Employer
of incorporation)	File Number)	Identification No.)

150 Alhambra Circle, Suite 1200, Coral Gables, Florida 33134
(Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code (305) 774 -0407

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading symbol(s)		Name of each exchange on which registered
Common Stock, $0.015 par value per share		DLPN		The Nasdaq Capital Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

On August 12, 2026, Dolphin Entertainment, Inc., a Florida corporation (the “Company”), issued a press release announcing its financial results for the three and six months ended June 30, 2026. A copy of the Company’s earnings press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.

The information contained in this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor incorporated by reference in any registration statement filed by the Company under the Securities Act of 1933, as amended.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit Number	Description
99.1	Press Release dated August 12, 2026
104	Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Exhibit 99.1

Dolphin Entertainment Reports Second Quarter 2026 Results

Q2'26 Revenue Rises 2.5% YoY to $14.4 Million; H1'26 Revenue Up 3.8% YoY to $27.2 Million

MIAMI, FL / ACCESS Newswire / August 12, 2026 / Dolphin (NASDAQ:DLPN), a leading entertainment marketing and premium content production company, today announced its financial results for the second quarter ended June 30, 2026.

Bill O'Dowd, CEO of Dolphin, commented:

“Total revenue for the second quarter grew 2.5% year-over-year to $14.4 million, and revenue for the first half of 2026 grew 3.8% to $27.2 million, continuing the top-line growth trend we saw in the first quarter. Our underlying business performed well across the portfolio this quarter.

Turning to the bottom line, net loss increased slightly to $1.6 million from $1.4 million in the prior year period. The net loss was impacted by retention bonuses paid to certain employees during the quarter ended June 30, 2026 in the amount of $360,000 and increased legal and professional fees, including approximately $360,000 of litigation-related legal costs. The retention bonuses are not intended to recur and the legal fees are expected to moderate going forward. Taken together, we believe the underlying trajectory of the business remains strong, and we expect a meaningful sequential improvement in profitability in the third quarter as both headwinds subside.

I'd like to also reiterate that following several years of acquisitions and growth-related investment, Dolphin is well positioned to realize the benefits of that work. We continue to operate in highly attractive sectors, and with rising underlying profitability, modest capex requirements, and approximately $127 million in NOL carryforwards, we remain confident in our ability to generate meaningful free cash flow in the periods ahead. Finally, with insiders holding a substantial stake in the company, management remains deeply aligned with shareholders in the pursuit of long-term value. In fact, under the 10(b)(5) buying plan currently in place for myself, I expect to own over 5% of the DLPN common stock in the next week or two.

A few other recent highlights: we continue to make progress with our DealMaker partnership and remain on track to bring our first deal to market this year, and we launched Graviteur Studios, a new creator-led content venture with KYNETIC Media Ventures. We would also remind investors that our bank debt matures in just over two years, which will free up nearly $2.2 million in annual principal and interest payments, and we continue to anticipate roughly $1 million in annualized lease savings once our large New York City and Los Angeles leases expire in the second half of 2027. Given our NOLs, which substantially shield us from cash taxes, the bulk of these combined savings should flow directly to the bottom line, providing a further tailwind to free cash flow.”

Q2 2026 and Recent Highlights

•

Total revenue for the three months ended June 30, 2026, was $14.4 million, an increase of 2.5% from $14.1 million last year. Total revenue for the six months ended June 30, 2026, was $27.2 million, an increase of 3.8% from $26.3 million last year.

•

Operating loss was $1.0 million for the three months ended June 30, 2026, compared to an operating loss of $0.1 million for the three months ended June 30, 2025.

•

Operating expenses for Q2 2026 were $15.5 million, including non-cash expenses of $0.5 million related to depreciation and amortization, approximately $0.4 million of non-recurring retention bonuses at certain subsidiaries, and legal and professional fees higher than usual due to litigation costs of approximately $0.4 million. This compares to operating expenses of $14.1 million in Q2 2025.

•

Net loss for Q2 2026 was $1.6 million as compared to a net loss of $1.4 million for Q2 2025.

•

Basic and diluted loss per share for Q2 2026 was $(0.13) based on 12,848,706 weighted average shares outstanding, compared to basic and diluted loss per share in Q2 2025 of $(0.13) based on 11,168,572 and 11,232,511 weighted average shares outstanding, respectively.

•

Adjusted EBITDA for Q2 2026 was approximately $243,000, compared to approximately $628,000 in Q2 2025. Adjusted EBITDA basic and diluted earnings per share for Q2 2026 was $0.02 based on 12,848,706 weighted average shares outstanding, compared to $0.06 basic earnings per share for Q2 2025 based on 11,168,572 weighted average shares outstanding and $0.04 fully diluted earnings per share for Q2 2025 based on 17,426,405 weighted average shares outstanding.

•

Cash and cash equivalents were $7.7 million as of June 30, 2026, compared to $8.8 million as of December 31, 2025.

Dolphin

•

Launched Graviteur Studios, a creator-led, content venture, in partnership with KYNETIC Media Ventures

•

Continued to advance the DealMaker partnership, targeting the Company's first deal to market later this year

•

Subsidiaries and clients had a successful showing at the Cannes Lions Festival of Creativity and the Cannes Film Festival

•

Subsidiaries powered high-profile campaigns at San Diego Comic-Con 2026

42West

•

Delivered a standout film and TV slate at the 25th Tribeca Film Festival

•

Landed multiple nominations for clients at the 78th Emmy Awards

•

Drove high-profile campaigns at Anime Expo 2026 for Nebula17, TOHO International and GKIDS

Shore Fire Media

•

Client Handcraft Entertainment partnered with Takasago to develop fragrances, flavors and consumer products defining the world of “global” J-Pop

The Door

•

Named Agency of Record for Palm Tree Crew amid the lifestyle brand's expansion into hospitality, real estate and golf

•

The Door's DISRPT division represented U.S. SailGP around major U.S. race events

Elle Communications

•

Clients took the stage at the NEXUS Global Summit 2026

The Digital Dept.

•

Partnered with Vidcon to power a featured creator gifting lounge at Vidcon Anaheim 2026

Conference Call Information

To participate in this event, dial in approximately 5 to 10 minutes before the beginning of the call.

Date: August 12, 2026

Time: 4:30pm ET

Toll Free: 888-506-0062 International: 973-528-0011 Participant Access Code: 402529

Webcast: https://www.webcaster5.com/Webcast/Page/2225/54390

Replay

Toll Free: 877-481-4010 International: 919-882-2331 Replay Passcode: 403685

Webcast Replay: https://www.webcaster5.com/Webcast/Page/2225/54390

This press release contains 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act. These forward-looking statements may address, among other things, Dolphin Entertainment Inc.'s (DLPN) offering of common stock as well as expected financial and operational results and the related assumptions underlying its expected results. These forward-looking statements are distinguished by the use of words such as “will,” “would,” “anticipate,” “expect,” “believe,” “designed,” “plan,” or “intend,” the negative of these terms, and similar references to future periods. These views involve risks and uncertainties that are difficult to predict and, accordingly, Dolphin Entertainment's actual results may differ materially from the results discussed in its forward-looking statements. Dolphin Entertainment's forward-looking statements contained herein speak only as of the date of this press release. Factors or events Dolphin Entertainment cannot predict, including those described in the risk factors contained in its filings with the Securities and Exchange Commission, may cause its actual results to differ from those expressed in forward-looking statements. Although Dolphin Entertainment believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be achieved, and Dolphin Entertainment undertakes no obligation to update publicly any forward-looking statements as a result of new information, future events, or otherwise, except as required by applicable law.

CONTACT:

James Carbonara

HAYDEN IR

(646)-755-7412

james@haydenir.com

ABOUT DOLPHIN:

Dolphin (NASDAQ:DLPN) is where cultural creation meets marketing execution. Founded in 1996 by Bill O'Dowd, Dolphin operates as both a venture studio - developing and investing in breakthrough content, products and experiences - and a marketing consortium, featuring leading agencies across every communications discipline.

At its core, the venture studio creates, produces, finances, markets and promotes new businesses and cultural ideas - ranging from acclaimed film, television and digital content to consumer goods, live events and partnerships that define entertainment and lifestyle. Surrounding this entrepreneurial engine, Dolphin's marketing prowess brings together best-in-class firms including 42West, The Door, Shore Fire Media, Elle Communications, Special Projects and The Digital Dept. Together, this collective delivers unmatched cross-marketing expertise and relationships across every vertical of pop culture - from film, television, music, influencers, sports, hospitality and fashion to consumer brands and purpose-driven initiatives. Dolphin marketing has been the recipient of many accolades, including No. 1 Agency of the Year on the Observer PR Power List in 2025, The PR Net 100 and the PRNEWS Agency Elite Top 120.

DOLPHIN ENTERTAINMENT, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)


	June 30, 2026			December 31, 2025
ASSETS
Current
Cash and cash equivalents	$	7,665,608		$	8,756,585
Restricted cash		925,004			925,004
Accounts receivable:
Trade, net of allowance of $411,806 and $1,327,808, respectively		7,025,142			7,848,970
Other receivables		5,825,228			5,243,931
Other current assets		929,970			1,179,498
Total current assets		22,370,952			23,953,988

Capitalized production costs, net		516,574			520,338
Employee receivable		1,228,085			1,196,085
Right-of-use assets		2,207,557			3,012,941
Goodwill		21,507,944			21,507,944
Intangible assets, net		6,852,855			7,898,607
Property, equipment and leasehold improvements, net		27,320			50,961
Other long-term assets		189,151			189,296
Total Assets	$	54,900,438		$	58,330,160

LIABILITIES
Current
Accounts payable	$	2,515,443		$	3,096,715
Term loans, current portion		1,890,056			1,813,760
Revolving line of credit		400,000			400,000
Notes payable, current portion		3,900,000			3,500,000
Convertible notes payable, current portion		1,200,000			1,250,000
Accrued interest – related party		2,284,479			2,043,087
Accrued compensation – related party		2,625,000			2,625,000
Lease liabilities, current portion		1,449,843			1,912,482
Deferred revenue		1,019,146			794,177
Other current liabilities		11,897,478			11,096,820
Total current liabilities		29,181,445			28,532,041

Noncurrent
Term loans, noncurrent portion		3,245,988			2,976,930
Notes payable, noncurrent portion		4,180,000			4,580,000
Convertible notes payable		6,550,000			6,460,000
Convertible notes payable – related party		2,774,965			2,904,357
Convertible note payable at fair value		250,000			270,000
Loans from related party		983,112			983,112
Lease liabilities		1,016,199			1,469,386
Deferred tax liability		499,213			463,909
Total Liabilities		48,680,922			48,639,735
Commitments and contingencies (Note 12)

STOCKHOLDERS’ EQUITY
Preferred Stock, Series C, $0.001 par value, 50,000 shares authorized, 50,000 shares issued and outstanding at June 30, 2026 and December 31, 2025		1,000			1,000
Common stock, $0.015 par value, 200,000,000 shares authorized, 13,025,551 and 12,221,432 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively		195,384			183,321
Additional paid-in capital		159,623,905			158,809,301
Accumulated deficit		(153,600,773	)		(149,303,197	)
Total Stockholders’ Equity		6,219,516			9,690,425
Total Liabilities and Stockholders’ Equity	$	54,900,438		$	58,330,160

DOLPHIN ENTERTAINMENT, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)


	Three Months Ended June 30,						Six Months Ended June 30,
	2026			2025			2026			2025

Revenues	$	14,443,150		$	14,087,529		$	27,247,088		$	26,257,240

Expenses:
Direct costs		1,028,326			742,171			1,812,977			1,086,585
Payroll and benefits		11,362,761			10,302,292			22,077,905			20,606,985
Selling, general and administrative		1,798,351			1,922,336			3,845,510			3,694,319
Depreciation and amortization		533,966			591,552			1,071,242			1,183,104
Acquisition cost		—			—			—			416,171
Legal and professional		750,808			586,232			1,606,946			1,100,656
Total expenses		15,474,212			14,144,583			30,414,580			28,087,820

Loss from operations		(1,031,062	)		(57,054	)		(3,167,492	)		(1,830,580	)

Other (expenses) income, net:
Change in fair value of convertible note		10,000			50,000			20,000			70,000
Loss on extinguishment of debt		—			(835,324	)		—			(835,324	)
Interest income		11,740			11,205			13,618			17,279
Interest expense		(578,568	)		(561,222	)		(1,128,398	)		(1,121,310	)
Total other (expenses) income, net		(556,828	)		(1,335,341	)		(1,094,780	)		(1,869,355	)

Loss before income taxes		(1,587,890	)		(1,392,395	)		(4,262,272	)		(3,699,935	)

Income tax expense		(17,652	)		(21,523	)		(35,304	)		(43,045	)

Net loss	$	(1,605,542	)	$	(1,413,918	)	$	(4,297,576	)	$	(3,742,980	)

Loss per share:
Basic	$	(0.13	)	$	(0.13	)	$	(0.34	)	$	(0.33	)
Diluted	$	(0.13	)	$	(0.13	)	$	(0.34	)	$	(0.34	)

Weighted average number of shares outstanding:
Basic		12,848,706			11,168,572			12,589,779			11,166,596
Diluted		12,848,706			11,232,511			12,589,779			11,230,535

Use of Non-GAAP Financial Measures

In order to provide greater transparency regarding our operating performance, the financial results in this press release refer to non-GAAP financial measures that involve adjustments to GAAP results. Non-GAAP financial measures exclude certain income and/or expense items that management deems are not directly attributable to the Company's core operating results and/or certain items that are inconsistent in amounts and frequency, making it difficult to perform a meaningful evaluation of our current or past operating performance.

Adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”) is defined by Dolphin as net (loss) or income adjusted for (i) interest, (ii) taxes, (iii) depreciation and amortization, (iv) acquisition costs, (v) change in fair value of convertible note, (vi) allowance for credit losses, (vii) litigation costs, (viii) loss on extinguishment of debt, and (ix) other one-time or non-cash costs. Consistent with our historical practice, we have not added back the non-recurring retention bonuses discussed above to Adjusted EBITDA, as we believe payroll and benefits costs, even when elevated by unusual timing, are best reflected in our core operating results; we discuss their impact qualitatively above.

Beginning this quarter, the Company is also presenting Adjusted EPS. Adjusted EPS is calculated by dividing Adjusted EBITDA by the weighted average number of basic and diluted shares outstanding for periods in which the Company reports Adjusted EBITDA consistent with the Company's convention for GAAP earnings per share.

Management believes that the presentation of operating results using this non-GAAP financial measure provides useful supplemental information for investors by providing them with the non-GAAP financial measure used by management for financial and operational decision making, planning and forecasting and in managing the business. This non-GAAP financial measure does not replace the presentation of financial information in accordance with U.S. GAAP. These non-GAAP financial results should not be considered a measure of liquidity and are unlikely to be comparable to non-GAAP financial measures provided by other companies.

Reconciliation of GAAP Net Loss to Non-GAAP Adjusted EBITDA

	Three Months Ended June 30,						Six Months Ended June 30,
	2026			2025			2026			2025
Net loss (GAAP)	$	(1,605,542	)	$	(1,413,918	)	$	(4,297,576	)	$	(3,742,980	)
Adjustments to GAAP measure:
Interest expense		566,828			550,017			1,114,780			1,104,031
Income tax expense		17,652			21,523			35,304			43,045
Depreciation and amortization		533,966			591,552			1,071,242			1,183,104
Acquisition costs		—			—			52,728			416,171
Change in fair value of convertible note		(10,000	)		(50,000	)		(20,000	)		(70,000	)
Loss on extinguishment of debt		—			835,324			—			835,324
Allowance for credit losses		22,010			93,407			171,801			149,161
One-time advance on distribution of Youngblood		—			—			700,000			—
Non-recurring retention bonuses		360,000			—			360,000
Litigation costs		358,009			—			587,385			—
Adjusted EBITDA (non-GAAP)	$	242,923		$	627,905		$	(224,336	)	$	(82,144	)

Reconciliation of GAAP loss per share to Non-GAAP earnings per share (based on Adjusted EBITDA)

	Three Months Ended June 30,						Six Months Ended June 30,
	2026			2025			2026			2025
Loss per share (GAAP)	$	(0.13	)	$	(0.13	)	$	(0.34	)	$	(0.33	)
Adjustments to GAAP measure:
Interest expense		0.04			0.05			0.09			0.10
Depreciation and amortization		0.04			0.05			0.09			0.11
Acquisition costs		—			—			—			0.04
Other one time expenses and income⁽¹⁾		0.01			0.02			—			(0.01	)
Loss on extinguishment of debt		—			0.07			—			0.07
Allowance for credit losses		—			—			0.01			0.01
One-time advance on distribution of Youngblood		—			—			0.05			—
Non-recurring retention bonuses		0.03			—			0.03
Litigation costs		0.03			—			0.05			—
Adjusted Basic EPS based on Adjusted EBITDA (non-GAAP)	$	0.02		$	0.06		$	(0.02	)	$	(0.01	)
Adjusted Fully Diluted EPS	$	0.02		$	0.04		$	(0.02	)	$	(0.01	)

Weighted average number of shares outstanding:
Basic		12,848,706			11,168,572			12,589,779			11,166,596
Fully Diluted		12,848,706			17,426,405			12,589,779			11,166,596

(1)

Includes income tax expense and allowance for credit losses for the three and six months ended June 30, 2026 and 2025 for which the per share adjustments are inconsequential.

Source: View Original Filing on SEC EDGAR

4 documents

DOLPHIN ENTERTAINMENT, INC.

Date: August 12, 2026

/s/ Mirta A. Negrini

Mirta A. Negrini

Chief Financial Officer

EX-99 PRESS RELEASE 156.7 KB