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 3.3% increase in revenue this quarter reflecting the resilience of our platform and continued adoption by new clients,” said Fred Vandenberg, CEO. “We made significant development progress on our new checkout experience, which is designed to scale our revenue growth more effectively. We also added a new features to Play MPE to help accelerate network expansion by empowering our clients to grow the ecosystem organically.”

Financial Highlights

Q2 FY2025 vs Q2 FY2024

  • Revenue $1M, an increase of 3.3%

  • Net loss of $0.3M, largely from one-time litigation costs

  • Adjusted 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
  85.3% 86.3% 86.4% 86.0%
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 $31,525
(August 31, 2024 – $41,334)		   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 $0.001, authorized 20,000,000 shares.
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

 

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