- Closed the acquisition of a majority interest in Serato, a global leader in DJ software, on May 12, 2025
- Revenue of $50.0 million, a 4%1 increase year-over-year
- Adjusted EBITDA2 of $8.2 million, a 22% increase year-over-year
- Free Cash Flow2 of $6.0 million, a $9.7 million increase year-over-year
Victoria, British Columbia--(Newsfile Corp. - August 12, 2025) - Tiny Ltd. (TSXV: TINY) ("Tiny" or the "Company"), a technology holding company that acquires wonderful businesses for the long term, is pleased to announce financial results for the three and six-months ended June 30, 2025 ("Q2 2025"). Currency amounts are expressed in Canadian dollars unless otherwise noted.
Q2 2025 Highlights
Adjusted EBITDA2 reached $17.9 million for the first half of 2025, a 32% increase year-over-year, and Adjusted EBITDA Margin2 improved to 18% from 14%
Free Cash Flow2 improved to $9.0 million for the first half of 2025, an increase of $11.6 million year-over-year
Serato launched the integration of Apple Music streaming directly within the Serato DJ platform, giving DJs instant access to over 100 million tracks
Metalab continued to demonstrate its strength in AI, completing landmark projects for AI leaders Windsurf and Crusoe
Letterboxd reached 21.4 million members at quarter end, an increase of 47% year-over-year and 106% since the majority acquisition in September 2023, and announced plans to launch a transactional video-on-demand service while at the Cannes Film Festival
Recurring Revenue2 reached $13.2 million in Q2 2025, a year-over-year increase of $3.6 million, or 37%
Including Serato for the full quarter, Pro Forma Adjusted EBITDA2 was $10.3 million
Net Debt to Pro Forma LTM Adjusted EBITDA of 2.8x, a decrease from 3.1x in Q2 2024
Tiny Fund I Net Asset Value increased by US$13.2 million, driven by strong performance of Letterboxd
Management Commentary
Closing the acquisition of Serato Audio Systems Limited ("Serato") marked a significant milestone for Tiny, substantially increasing our recurring revenue and profitability, and enhancing the foundation for sustainable long-term growth.
Our key financial metrics, including Adjusted EBITDA and Free Cash Flow, improved significantly year-over-year, demonstrating that the Company's cost discipline initiatives and focus on operational excellence continue to drive results. With these improvements, the Company continued to execute on its objective of de-leveraging, paying down $5.2 million in the quarter. Net Debt to Pro Forma LTM Adjusted EBITDA ended Q2 2025 at 2.8x, down from 3.1x in the 2024 comparable quarter, and down significantly from 3.8x as at December 31, 2023.
Jordan Taub, CEO of Tiny, said, "Q2 was another strong quarter for Tiny and our team. By welcoming Serato to the Tiny portfolio and continuing our focus on disciplined cash flow growth across the businesses, we are delivering on our strategic priorities. Long term organic and acquisition-led growth, operational excellence, cash flow generation, and managing our leverage profile remain key drivers of our strategy."
Q2 2025 Financial Results
| Three-months ended June 30, | Six-months ended June 30, | |||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||
| Revenue | 50,000,797 | 51,005,412 | 98,062,762 | 99,945,010 | ||||||||
| Operating loss | (4,622,625 | ) | (4,952,079 | ) | (6,127,999 | ) | (9,782,520 | ) | ||||
| Net income / (loss) | 10,990,847 | (1,671,756 | ) | 6,985,450 | (10,526,223 | ) | ||||||
| EBITDA | 21,913,696 | 4,864,920 | 29,383,163 | 8,215,835 | ||||||||
| EBITDA %1 | 44% | 10 % | 30% | 8% | ||||||||
| Adjusted EBITDA1 | 8,232,481 | 6,754,724 | 17,948,686 | 13,646,387 | ||||||||
| Adjusted EBITDA Margin %1 | 16% | 13 % | 18% | 14 % | ||||||||
| Recurring Revenue1 | 13,194,947 | 9,637,944 | 23,002,818 | 18,894,818 | ||||||||
| Recurring Revenue %1 | 26% | 19 % | 23% | 19 % | ||||||||
| Cash provided by operating activities | 6,167,180 | (797,399 | ) | 10,124,470 | 3,540,450 | |||||||
| Free Cash Flow1 | 6,013,495 | (3,695,862 | ) | 9,028,654 | (2,569,227 | ) | ||||||
| Adjusted Free Cash Flow Post Debt Servicing1 | 5,053,790 | (3,679,878 | ) | 6,993,024 | (2,612,417 | ) | ||||||
| Basic earnings / (loss) per share | 0.05 | (0.01 | ) | 0.03 | (0.06 | ) | ||||||
| Diluted earnings / (loss) per share | 0.05 | (0.01 | ) | 0.03 | (0.06 | ) | ||||||
| Free Cash Flow per Share1 | 0.03 | (0.02 | ) | 0.04 | (0.01 | ) | ||||||
| Adjusted Free Cash Flow per Share1 | 0.02 | (0.02 | ) | 0.03 | (0.01 | ) | ||||||
| June 30, 2025 | Dec. 31, 2024 | |||||||||||
| Total assets | 524,417,836 | 350,529,798 | ||||||||||
| Investment in Tiny Fund I LP | 39,551,252 | 38,177,751 | ||||||||||
| Total liabilities | 251,599,861 | 168,459,250 | ||||||||||
| Non-current financial liabilities | 199,305,869 | 106,934,158 | ||||||||||
The Serato acquisition closed on May 12, 2025 and the consolidated results include approximately half a quarter of results related to the acquisition. The three-months ended September 30, 2025 will be the first quarter with a full inclusion of Serato's financial results.
Reported revenue in Q2 2025 was $50.0 million, a decrease of $1.0 million (2%) compared to the three months ended June 30, 2024 ("Q2 2024"). Q2 2024 included revenue from a large enterprise licensing deal in the Creative Platform of approximately $4.9 million. When adjusting for the Q4 2024 dispositions of the Company's interest in Frosty Studio Ltd. and 8020 Design Ltd., revenue increased 4%4 compared to Q2 2024.
Recurring Revenue1 in Q2 2025 was $13.2 million, an increase of $3.6 million (37%) compared to Q2 2024. The increase primarily reflects the positive impact of the Serato acquisition. Recurring Revenue1 increased to 26% of total revenue, compared to 20% in Q1 2025.
EBITDA1 of $21.9 million in Q2 2025 improved by $17.0 million compared to $4.9 million in Q2 2024. This was primarily driven by the acquisition of Serato, an increase in Net Asset Value of Tiny Fund I, favorable foreign exchange impacts, and other income from the licensing of a trademark within the Tiny portfolio.
Adjusted EBITDA5 increased 22% to $8.2 million in Q2 2025 compared to $6.8 million in Q2 2024, with margins expanding to 16% from 13%. Q2 2024 included the benefit of the $4.9 million enterprise licensing deal. The improvement demonstrates the effectiveness of cost discipline initiatives and operational enhancements implemented in 2024, along with positive contributions from the Serato acquisition.
Cash on hand on June 30, 2025 was $26.7 million, compared to $22.9 million on December 31, 2024.
Total debt outstanding on June 30, 2025 was $116.9 million, compared to $116.9 million on December 31, 2024. Debt repayments were offset by new credit facilities drawn to finance the acquisition of Serato.
Total debt repayment was $5.2 million in Q2 2025, demonstrating the Company's commitment to balance sheet management.
Cash flow from operations in Q2 2025 was $6.2 million, compared to negative $0.8 million in Q2 2024. This reflects the Company's continued focus on driving sustainable cash flow in the existing portfolio as well as the positive contributions from the Serato acquisition.
Free Cash Flow1 in Q2 2025 was $6.0 million, compared to negative $3.7 million in Q2 2024. Free Cash Flow per Share also improved to $0.03 in Q2 2025, compared to negative $0.02 per share in Q2 2024.
Adjusted Free Cash Flow Post Debt Servicing1 in Q2 2025 was $5.1 million, compared to $3.7 million in Q2 2024.
Net income in Q2 2025 was $11.0 million, compared to a net loss of $1.7 million in Q2 2024, an increase of $12.7 million.
Diluted earnings per share of $0.05 in Q2 2025, compared to a diluted loss per share of $0.01 in Q2 2024.
Total assets on June 30, 2025 were $524.4 million, compared to $350.5 million on December 31, 2024.
Tiny Fund I Performance
Combined unaudited revenue of $15.9 million (US$11.5 million) in Q2 2025 compared to $16.4 million (US$12.0 million) in Q2 2024, a decrease of $0.5 million (US$0.5 million). Note that Tiny's consolidated financial results do not include the aggregate revenues, expenses, and profits of Tiny Fund's individual investments.
Tiny Fund I Net Asset Value increased to US$142.0 million as at June 30, 2025 from US$128.8 million in Q1 2025, largely driven by strong operating performance of Letterboxd.
Tiny owns 20.34% of Tiny Fund I, and received distributions of $0.5 million in Q2 2025.
Quarterly Conference Call and Business Update
The Company will hold a conference call to provide a business update on Tuesday, August 12, 2025, at 8:00 a.m. ET hosted by:
Jordan Taub, CEO
Mike McKenna, CFO
A question-and-answer session will follow the business update.
Conference Call Details
| Date: | Tuesday, August 12, 2025 |
| Time: | 8:00 a.m. ET |
| Dial-In Number: | Canada: +1 226 828 7575 or +1 833 950 0062 |
| United States: +1 404 975 4839 or +1 833 470 1428 | |
| Access code: | 585184 |
This live call is also being webcast and can be accessed by going to: https://events.q4inc.com/attendee/576254463
An archived telephone replay of the call will be available for one week following the call by dialing +1 866 813 9403 and entering the access code 680490, followed by the # sign.
Financial Statements
Tiny's interim condensed consolidated financial statements for Q2 2025 and management's discussion and analysis for Q2 2025 are available under Tiny's profile on SEDAR+ at www.sedarplus.com.
About Tiny
Tiny is a Canadian holding company that acquires wonderful businesses using a founder-friendly approach. It focuses on companies with unique competitive advantages, recurring or predictable revenue streams, and strong free cash flow generation. Tiny typically holds businesses for the long-term, with a parent-level focus on capital allocation, collaborative management and operations, and incentive structures within the operating companies to drive results for Tiny and its shareholders. Tiny currently has three principle reporting segments: Digital Services, which help some of the world's top companies design, build and ship amazing products and services; Software and Apps, which is home to Serato, the world's leading DJ software, and WeCommerce, a collection of leading application and theme businesses powering global e-commerce merchants; and Creative Platform, which is composed primarily of Dribbble, the social network for designers and digital creatives, as well as Creative Market, a premier online marketplace for digital assets such as fonts, graphics and templates.
For more about Tiny, please visit www.tiny.com or refer to the public disclosure documents available under Tiny's profile on SEDAR+ at www.sedarplus.com.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Company Contact:
Mike McKenna
Chief Financial Officer
Phone: 416-938-0574
Email: mike@tiny.com
Cautionary Note Regarding Forward-Looking Information
Certain statements in this press release may constitute forward-looking information or forward-looking statements (together, "forward-looking statements") that reflect management's current expectations regarding the Company's future growth, financial performance, business prospects and opportunities. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "anticipate", "believe", "plan", "forecast", "expect", "estimate", "predict", "intend", "would", "could", "if", "may" and similar expressions.
This press release includes, among others, forward-looking statements regarding the Company's expectations regarding: the Company's financial profile, the results of the acquisition of Serato and the inclusion of Serato financial results with Tiny's, and the future plans of the Company and its subsidiaries. These statements reflect current expectations of management regarding future events and operating performance and speak only as of the date of this press release. In addition, forward-looking statements are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes.
By their nature, forward-looking statements require management to make various assumptions and are subject to inherent risks and uncertainties. There is a significant risk that such predictions, forecasts, conclusions or projections will not prove to be accurate, that management's assumptions may not be accurate and that actual results, performance or achievements may differ significantly from such predictions, forecasts, conclusions or projections expressed or implied by such forward-looking statements. We caution readers not to place undue reliance on the forward-looking statements in this press release as a number of factors, many of which are beyond the Company's control, could cause actual future results, conditions, actions or events to differ materially from the targets, outlooks, expectations, goals, estimates or intentions expressed in the forward-looking statements.
These factors include, but are not limited to: reliance on the Shopify platform; the limited operating history of certain of the Company's subsidiaries; the integration of Serato with Tiny; reliance on management and key employees; conflicts of interest in relation to the Company and its subsidiaries' officers, directors, and consultants; the ability to integrate previous acquisitions or future acquisitions; limitations on claims against a seller of an acquired company; additional financing requirements and earn out obligations; reliance on unaudited financial information for Tiny Fund I LP; risks related to dilution; global financial conditions; management of growth; risks associated with the Company's strategy of growth through acquisitions; tax risks; reputational risks; payment processing risks; currency fluctuations; competitive markets; uncertainty and adverse changes in the economy; unsustainability of the Company's rapid growth and inability to attract new customers, retain revenue from existing merchants, and increase sales to both new and existing customers; adverse effects on the Company's revenue growth and profitability due to the inability to attract new customers or sell additional products to existing customers; future results of operations being harmed due to declines in recurring revenue or contracts not being renewed; cyber security and privacy breaches; changes in client demand; challenges posed by developments in artificial intelligence; challenges to the protection and enforcement of intellectual property; infringement of intellectual property; regulatory risks; risks related to legal claims; ineffective operations through mobile devices, which are increasingly being used to conduct commerce; risks related to information technology; and risks associated with internal controls over financial reporting. For a more detailed discussion of certain of these risk factors, see the list of risk factors in the Company's Annual Information Form dated April 29, 2025 which is available on SEDAR+ at www.sedarplus.com under the Company's profile.
The Company cautions that the foregoing list is not exhaustive of all possible factors, as other factors could adversely affect our results. When relying on our forward-looking statements to make decisions with respect to the Company and its securities, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Unless otherwise indicated, the information in this press release is current as of the date of this press release and the Company does not intend, and disclaims any obligation, to update any forward-looking statements, whether written or oral, or whether as a result of new information or otherwise, except as may be required by law.
Non-IFRS Measures
This press release contains certain non-International Financial Reporting Standard ("IFRS") financial measures. These measures are not recognized measures under IFRS accounting standards as issued by the International Accounting Standards Board. These financial measures do not have standardized meanings prescribed under IFRS and our computation may differ from similarly-named computations as reported by other entities and, accordingly, may not be comparable. These financial measures should not be considered as an alternative to, or more meaningful than, measures of financial performance as determined in accordance with IFRS as an indicator of performance. The Company believes these measures may be useful supplemental information to assist investors in assessing our operational performance and our ability to generate cash through operations. The non-IFRS measures also provide investors with insight into our decision making as we use these non-IFRS measures to make financial, strategic and operating decisions. The Company's management also uses non-IFRS financial measures to facilitate operating performance comparisons from period to period and prepare annual budgets and forecasts.
Because non-IFRS measures do not have a standardized meaning and may differ from similarly-named computations as reported by other entities, securities regulations require that non-IFRS measures be clearly defined and qualified, reconciled with their nearest IFRS measure and given no more prominence than the closest IFRS measure.
Non-IFRS measures are not audited. Unless otherwise indicated, the financial information presented in this press release is prepared in accordance with IFRS accounting standards as issued by the International Accounting Standards Board. These non-IFRS measures have important limitations as analytical tools and investors are cautioned not to consider them in isolation or place undue reliance on ratios or percentages calculated using these non-IFRS measures. The non-IFRS financial measures referred to in this press release are further detailed in the Company's management discussion and analysis for the three months ended June 30, 2025 which is available at www.tiny.com and under Tiny's profile on SEDAR+ at www.sedarplus.com.
NON-IFRS MEASURES RECONCILIATIONS
EBITDA and Adjusted EBITDA
| Three-months ended June 30, | Six-months ended June 30, | ||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||
| Net income / (loss) | $ | 10,990,847 | $ | (1,671,756 | ) | $ | 6,985,450 | $ | (10,526,223 | ) | |||
| Income tax expense / (recovery) | (1,666,830 | ) | (5,287,794 | ) | (1,126,638 | ) | (4,826,253 | ) | |||||
| Depreciation and amortization | 9,562,814 | 8,873,617 | 18,248,515 | 17,598,371 | |||||||||
| Interest expense | 3,026,865 | 2,950,853 | 5,275,836 | 5,969,940 | |||||||||
| EBITDA | 21,913,696 | 4,864,920 | 29,383,163 | 8,215,835 | |||||||||
| EBITDA Adjustments | |||||||||||||
| Share of losses from unlisted equity investments | (4,312,293 | ) | (384,359 | ) | (4,792,069 | ) | (658,994 | ) | |||||
| Gain on sale of intangibles | - | (1,612,839 | ) | - | (1,481,060 | ) | |||||||
| Fair value (gain) / loss to financial instruments | 122,488 | (565,370 | ) | 525,113 | (2,381,435 | ) | |||||||
| Fair value on contingent consideration | - | 23,634 | (285,526 | ) | 50,369 | ||||||||
| Business acquisition costs | 2,154,385 | 292,028 | 3,616,601 | 337,370 | |||||||||
| Share-based compensation | 736,452 | 290,260 | 1,447,830 | 744,041 | |||||||||
| Foreign exchange | (5,196,970 | ) | 2,018,954 | (4,958,879 | ) | 5,030,700 | |||||||
| Other income1 | (7,586,732 | ) | (423,402 | ) | (7,751,286 | ) | (959,564 | ) | |||||
| Non-recurring severance expense | 201,627 | 1,065,729 | 276,880 | 2,406,308 | |||||||||
| Non-recurring project costs2 | - | 775,963 | - | 1,635,221 | |||||||||
| Non-recurring professional fees3 | 199,828 | 409,206 | 486,859 | 707,596 | |||||||||
| Adjusted EBITDA | 8,232,481 | 6,754,724 | 17,948,686 | 13,646,387 | |||||||||
1 Other income relates gain/loss on FX, a one-time license income of $8.2 million, and other minor non-operating items
2 Non-recurring project related to advertising and promotion expense for a specific project that will not continue in the future.
3 Non-recurring professional fees relates to legal fees for the go-public transaction and amalgamation with WeCommerce, restructuring, and software implementation costs
Serato Q2-2025 EBITDA and Adjusted EBITDA (Prior to Acquisition) & Pro Forma Adjusted EBITDA
| Three-months ended June 30, 2025 | |||
| Net loss | $ | (541,768 | ) |
| Income tax expense / (recovery) | (113,984 | ) | |
| Depreciation and amortization | (100,941 | ) | |
| EBITDA | (326,843 | ) | |
| EBITDA Adjustments | |||
| Business acquisition costs | (2,728,426 | ) | |
| Foreign exchange | 351,295 | ||
| Q2-2025 Serato Adjusted EBITDA (Prior to Acquisition) | 2,050,288 | ||
| Adjusted EBITDA | 8,232,481 | ||
| Pro Forma Adjusted EBITDA | 10,282,769 | ||
EBITDA % and Adjusted EBITDA Margin %
| Three-months ended June 30, | Six-months ended June 30, | |||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||
| EBITDA | $ | 21,913,696 | $ | 4,864,920 | $ | 29,383,163 | $ | 8,215,835 | ||||
| Revenue | 50,000,797 | 51,005,412 | 98,062,762 | 99,945,010 | ||||||||
| EBITDA % | 44 % | 10 % | 30 % | 8 % | ||||||||
| Adjusted EBITDA | 8,232,481 | 6,754,724 | 17,948,686 | 13,646,387 | ||||||||
| Revenue | 50,000,797 | 51,005,412 | 98,062,762 | 99,945,010 | ||||||||
| Adjusted EBITDA Margin % | 16 % | 13% | 18% | 14% | ||||||||
Recurring Revenue and Recurring Revenue %
| Three-months ended June 30, | Six-months ended June 30, | |||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||
| Recurring Revenues | $ | 13,194,947 | $ | 9,637,944 | $ | 23,002,818 | $ | 18,894,818 | ||||
| Non-recurring revenues | 36,805,850 | 41,367,468 | 75,059,944 | 81,050,192 | ||||||||
| Total revenue | 50,000,797 | 51,005,412 | 98,062,762 | 99,945,010 | ||||||||
| Recurring Revenue % | 26 % | 19 % | 23 % | 19 % | ||||||||
Free Cash Flow and Free Cash Flow per Share
| Three-months ended June 30, | Six-months ended June 30, | |||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||
| Cash provided by operating activities | $ | 6,167,181 | $ | (797,399 | ) | $ | 10,124,471 | $ | 3,540,450 | |||
| Business acquisition costs | 2,154,385 | 292,028 | 3,616,601 | 337,370 | ||||||||
| Interest paid on debt | (2,180,183 | ) | (3,094,778 | ) | (4,490,618 | ) | (6,136,925 | ) | ||||
| Capital expenditures | (127,887 | ) | (95,713 | ) | (221,799 | ) | (310,122 | ) | ||||
| Free Cash Flow | 6,013,496 | (3,695,862 | ) | 9,028,655 | (2,569,227 | ) | ||||||
| Weighted average number of shares outstanding | 227,731,155 | 181,614,111 | 208,398,341 | 180,413,214 | ||||||||
| Free Cash Flow per Share | 0.03 | (0.02 | ) | 0.04 | (0.01 | ) | ||||||
| Three-months ended June 30, | Six-months ended June 30, | |||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||
| EBITDA | $ | 21,913,696 | $ | 4,864,920 | $ | 29,383,163 | $ | 8,215,835 | ||||
| Income taxes paid | (2,216,984 | ) | (1,552,564 | ) | (5,419,951 | ) | (2,571,418 | ) | ||||
| Interest paid on debt | (2,180,183 | ) | (3,094,778 | ) | (4,490,618 | ) | (6,136,925 | ) | ||||
| Unrealized foreign exchange (gain) /loss | (5,309,541 | ) | 1,345,498 | (5,400,010 | ) | 4,089,902 | ||||||
| Non-cash income1 | (10,753,558 | ) | (716,736 | ) | (10,308,750 | ) | (1,585,444 | ) | ||||
| Business acquisition costs | 2,154,385 | 292,028 | 3,616,601 | 337,370 | ||||||||
| Changes in non-cash working capital | 2,533,569 | (4,738,517 | ) | 1,870,020 | (4,608,425 | ) | ||||||
| Capital expenditures | (127,887 | ) | (95,713 | ) | (221,799 | ) | (310,122 | ) | ||||
| Free Cash Flow | 6,013,497 | (3,695,862 | ) | 9,028,656 | (2,569,227 | ) | ||||||
1 Non-cash expenses relates to specific non-cash items from the cash provided by operating activities. This includes share-based compensation, fair value adjustment to financial instruments, gain on disposal of intangible assets, loss on sale of subsidiaries, fair value adjustment to contingent consideration, loss on sale or disposal of assets, share of earnings from unlisted equity investments, bad debts and interest income.
Adjusted Free Cash Flow Post Debt Servicing and Adjusted Free Cash Flow per Share
| Three-months ended June 30, | Six-months ended June 30, | |||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||
| Free Cash Flow | $ | 6,013,497 | $ | (3,695,862 | ) | $ | 9,028,656 | $ | (2,569,227 | ) | ||
| Non-recurring bad debt expense1 | - | 833,196 | - | 833,196 | ||||||||
| Non-recurring project costs | - | 775,964 | - | 775,964 | ||||||||
| Non-recurring professional fees | 199,828 | 409,206 | 486,859 | 1,244,011 | ||||||||
| Severance | 201,627 | 1,065,729 | 276,880 | 1,504,330 | ||||||||
| Scheduled debt payments | (1,361,161 | ) | (3,068,111 | ) | (2,799,370 | ) | (4,400,691 | ) | ||||
| Adjusted Free Cash Flow Post Debt Servicing | 5,053,791 | (3,679,878 | ) | 6,993,025 | (2,612,417 | ) | ||||||
| Weighted average number of shares outstanding | 227,731,155 | 181,614,111 | 208,398,341 | 180,413,214 | ||||||||
| Adjusted Free Cash Flow Per Share | 0.02 | (0.02 | ) | 0.03 | (0.01 | ) | ||||||
1 Non-recurring bad debt expense relates to revenue that was recognized in the 2023 fiscal year.
1 When excluding the of the Company's investments in Frosty Studio Ltd. and 8020 Design Ltd. in the comparative period. The Company's interests were divested in Q4 2024.
2 Refer to Non-IFRS Measures for further information.
3 Refer to Non-IFRS Measures for further information.
4 When excluding the of the Company's investments in Frosty Studio Ltd. and 8020 Design Ltd. in the comparative period. The Company's interests were divested in Q4 2024.
5 Refer to Non-IFRS Measures for further information.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/262145
SOURCE: Tiny Ltd.
