Business
BEACN Announces 2025 Q2 Results and New CFO
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About this update from Beacn Wizardry & Magic Inc
[{"type":"text","content":"BEACN Announces 2025 Q2 Results and New CFONot for distribution to United States Newswire Services or for dissemination in the United States VICTORIA, BC / ACCESS Newswire / August 20, 2025 / BEACN Wizardry & Magic Inc. (TSXV:BECN) (\"BEACN\" or the \"Company\") announces financial results for the quarter ending June 30, 2025 as well as appointment of Derek Sobel as Chief Financial Officer (CFO) effective September 1st, 2025For the six months ended June 30, 2025, the Company achieved sales revenue of $1,378,793 (2024 - $1,558,868), gross profit of $560,564 (41%) (2024 - gross profit of $590,800 (38%)) and a net loss of $916,765 (2024 - loss of $842,133). In Q2 2025, BEACN realized a 5% increase in sales, and 17% increase in gross profit due to strong D2C sales. Further information is available from the Company's financial statements for the six months ended June 30, 2025, available under the Company's profile on SEDAR+ at www.sedarplus.ca.Derek Sobel joins BEACN as CFO, bringing over a year of experience overseeing BEACN's accounting responsibilities with BEACN's corporate accountants at Catapult. The change comes with the resignation of Daniel Davies as Interim CFO, and other officer duties. Both changes are effective September 1st. Daniel Davies, continues his role as Board Member of BEACN.\"Despite global economic headwinds, BEACN continues to see strong customer engagement and D2C sales growth, reinforcing its position as a leading innovator for content creators. As my co-founder Daniel Davies embarks on an exciting new career chapter, we celebrate his invaluable contributions and a look forward to his continued support as a member of the board,\" says BEACN CEO and co-founder, Craig Fraser.\"It has been a privilege to help build BEACN into the company it is today. As I step down from my roles as Chief Technology Officer and Interim Chief Financial Officer, I'm proud of what we've accomplished and confident in the team's ability to carry that momentum forward. I'm especially pleased to welcome our new CFO, Derek Sobel, whose expertise and focus are ideally suited for this next stage of BEACN's growth,\" says Daniel Davies, BEACN Co-founder and Board Member.Derek Sobel adds, \"I'm thrilled to be joining BEACN as CFO. BEACN is well positioned with a passionate, talented team and innovative product lineup. I'm looking forwa...