Vancouver, British Columbia--(Newsfile Corp. - July 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 third quarter ended May 31, 2025.
"Play MPE revenue remains up by 2.5% for the year in spite of a small retraction during our third quarter," said Fred Vandenberg, CEO. "We continue to make progress in preparing Play MPE® and MTR® for scalable growth in international markets."
Highlights for Q3 FY 2025
- Revenue of $1.13M
- Net loss of $0.07M driven by the increased amortization of the capital investments
- Adjusted EBITDA (non-GAAP) of $0.12M (2024 - $0.22M)
Fiscal 2025 Third Quarter Earnings Webinar
Destiny Media Technologies will hold a live webinar on Monday, July 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 third quarter ended May 31, 2025.
Date: Monday, July 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: DSNY 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: +1 386 347 5053 or +1 507 473 4847 or More International numbers
Webinar ID: 872 9623 6164
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 DSNY 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®, provides promotional music marketing to engaged networks of decision makers in radio, film, TV, and beyond. More information can be found on the DSNY website.
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.sedarplus.ca 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)
| For the three months ended May 31, | ||||||
| 2025 | 2024 | |||||
| Service revenue | $ | 1,133,963 | $ | 1,155,442 | ||
| Cost of revenue | ||||||
| Hosting costs | 41,374 | 35,036 | ||||
| Internal engineering support | 15,897 | 14,249 | ||||
| Customer support | 90,083 | 80,746 | ||||
| Third-party and transactions costs | 14,518 | 20,013 | ||||
| 161,872 | 150,044 | |||||
| Gross margin | 972,091 | 1,005,398 | ||||
| 85.7% | 87.0% | |||||
| Operating expenses | ||||||
| General and administrative | 206,193 | 159,940 | ||||
| Sales and marketing | 228,760 | 280,308 | ||||
| Product development | 423,970 | 356,599 | ||||
| Depreciation and amortization | 190,425 | 87,760 | ||||
| 1,049,348 | 884,607 | |||||
| Income (loss) from operations | (77,257 | ) | 120,791 | |||
| Other income | ||||||
| Interest and other income | 4,969 | 13,685 | ||||
| Net income (loss) before income tax | (72,288 | ) | 134,476 | |||
| Current income tax expense | - | - | ||||
| Net income (loss) | $ | (72,288 | ) | $ | 134,476 | |
| Foreign currency translation adjustments | 119,306 | (16,714 | ) | |||
| Total comprehensive income | $ | 47,018 | $ | 117,762 | ||
| Net income (loss) per common share | ||||||
| Basic and diluted | $ | (0.01 | ) | $ | 0.01 | |
| Weighted average common shares outstanding: | ||||||
| Basic | 9,637,410 | 9,689,303 | ||||
| Diluted | 9,637,410 | 9,722,035 | ||||
DESTINY MEDIA TECHNOLOGIES, INC.
Condensed Consolidated Balance Sheets
(Unaudited)
| May 31, 2025 | August 31, 2024 | |||||
| ASSETS | ||||||
| Cash and cash equivalents | $ | 1,261,706 | $ | 1,481,582 | ||
| Accounts receivable, net of allowance for doubtful accounts of $30,766 (August 31, 2024 - $30,624) | 736,778 | 681,146 | ||||
| Other receivables | 121,192 | 82,585 | ||||
| Prepaid expenses | 38,534 | 87,345 | ||||
| Deposits | 31,764 | 32,347 | ||||
| Total current assets | 2,189,974 | 2,365,005 | ||||
| Property and equipment, net | 945,473 | 1,174,370 | ||||
| Intangible assets, net | 120,051 | 148,977 | ||||
| Total assets | $ | 3,255,498 | $ | 3,688,352 | ||
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||
| Current | ||||||
| Accounts payable | $ | 76,959 | $ | 151,734 | ||
| Accrued liabilities | 283,211 | 328,801 | ||||
| Deferred revenue | 37,650 | 42,399 | ||||
| Total current liabilities | 397,820 | 522,934 | ||||
| Total liabilities | 397,820 | 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) | 9,637 | 9,637 | ||||
| Additional paid-in capital | 8,847,617 | 8,819,785 | ||||
| Accumulated deficit | (5,448,851 | ) | (5,192,609 | ) | ||
| Accumulated other comprehensive loss | (550,725 | ) | (471,395 | ) | ||
| Total stockholders' equity | 2,857,678 | 3,165,418 | ||||
| Total liabilities and stockholders' equity | $ | 3,255,498 | $ | 3,688,352 |
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/258666
SOURCE: Destiny Media Technologies, Inc.
