The following is a summary of the WildBrain Ltd. (WLDBF) Q3 2024 Earnings Call Transcript:

Financial Performance:

• WildBrain reported Q3 consolidated revenue of $100 million, a 29% decrease, primarily due to reduced output in studio business.

• Gross margins increased by over 250 basis points as global licensing and audience engagement became a higher proportion of total revenues.

• The company demonstrated a net loss of $15 million, mainly due to lower gross margin dollars and a reduction in the change of fair value and embedded derivatives.

• Free cash flow for the quarter was negative $3 million, showing an improvement from the previous year's negative free cash flow of $5 million.

Business Progress:

• The company has several projects greenlit for fiscal 2025 and 2026, with a significant increase in hiring for its Vancouver studio.

• A global premiere of the new series Yo Gabba GabbaLand! is expected in Q3 2024.

• YouTube networks watched over 60 billion minutes of videos in Q3, up 30% from last year.

• The progress into Fast and non-YouTube AVOD channels across various platforms has demonstrated consistent growth.

• The content library saw a growth of over 85 channels and increased U.S. viewership from 300 million minutes in 2019 to over 5.5 billion minutes in 2023.

• The company plans to seed the licensing market for its Gabba brand and sees significant potential in the China market for Teletubbies.

• The company revealed plans to reduce leverage, simplify company structure and address the convertible on a timely basis.

More details: WildBrain Ltd. IR

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