Business
Dolphin Q3 Revenue Increases 24.5% YoY to $12.7M, Reports Adjusted Operating Income of $0.5M and Highlights Market Valuation Disconnect
Q3 2024 Revenue grew 24.5% to $12.7M from $10.2M in Q3 2023Q3 2024 Adjusted Operating Income of $0.5M as opposed to Adjusted Operating Loss of $(0.8M) in Q3
About this update from Dolphin Entertainment, Inc.
[{"type":"text","content":"Q3 2024 Revenue grew 24.5% to $12.7M from $10.2M in Q3 2023Q3 2024 Adjusted Operating Income of $0.5M as opposed to Adjusted Operating Loss of $(0.8M) in Q3 2023Nine-Month 2024 Revenue increased 26.6% to $39.4MNine-Month 2024 Adjusted Operating Income of $1.4M, versus a $(2.7M) Adjusted Operating Loss in the same period last yearMarket Cap (1) trading at approximately 0.25x Current Year 2024 estimated revenue guidance of $50.0MCEO sees Dolphin as undervalued; supports view with $100,000 in stock purchases in last 12 monthsBased on market cap at the close of trading on Nov 13, 2024MIAMI, FL / ACCESSWIRE / November 14, 2024 / Dolphin (NASDAQ:DLPN), an independent leader in content production, entertainment marketing, and related ventures, announces its financial results for the quarter ended September 30, 2024.Bill O'Dowd, CEO of Dolphin Entertainment commented:\"During Q3, revenue increased by 24.5% year over year and we achieved $0.5 million in adjusted operating income, setting us on track to deliver on our goals of surpassing $50 million in revenue and achieving adjusted operating income for full year 2024. With promising ventures like Rachael Ray's Staple Gin - - alongside the acquisition of Elle Communications, the launch of Always Alpha and our new partnership with Loti AI, we see a stark mismatch between our current market cap and the intrinsic value of our assets. I am committed to further increasing my stake in Dolphin, confident that the market will soon recognize the adjusted operating income we are creating and the true potential of our expanding portfolio of assets.\"Q3 2024 and Recent HighlightsTotal revenue for the quarter ended September 30, 2024 was $12.7 million, an increase of 24.5% over the same period in 2023.Operating loss of $8.2 million for the quarter ended September 30, 2024 as compared to an operating loss of $2.1 million for the quarter ended September 30, 2023. Operating loss of $9.1 million for the nine months ended September 30, 2024 as compared to an operating loss of $12.1 million for the nine months ended September 30, 2023.Adjusted operating income(1) of $0.5 million for the three months ended September 30, 2024 as compared to an adjusted operating loss of $0.8 million for the three months ended September 30, 2023. Adjusted operating income of $1.4 million for the nine months ended September 30,...