The following is a summary of the Dolphin Entertainment, Inc. (DLPN) Q4 2023 Earnings Call Transcript:
Financial Performance:
Dolphin Entertainment reported Q4 revenue of $12 million, an increase of 8% year-over-year.
Adjusted operating income was reported at $300,000.
Q4 Operating expenses amounted to $20 million, with approximately $8.3 million of non-cash or non-recurring expenses.
The company reported a loss per share of $0.54 based on over 17.6 million weighted average shares outstanding.
Cash and cash equivalents as of December 31, 2023, amounted to $6.4 million.
Business Progress:
Completed the acquisition of Special Projects, creating synergy and cross-selling opportunities across the Dolphin group.
Successful client recognition for subsidiaries 42West and Shore Fire Media due to their effective PR capabilities.
Digital department expansion with additions like influencer roster of GlowLab and a new partnership with the Osbrink Agency.
Successful collaborations with major entities like Chanel, Gucci, and the Wall Street Journal through Special Projects.
Anticipating promising ROI from Blue Angels film through an acquisition agreement with Amazon.
Dolphin Partnership with Rachael Ray and Do Good Spirits distillery for the launch of Staple Gin in Q2, marking an entry into the spirits market.
A revitalization plan underway for MasterCard Midnight Theater aimed at profitability.
Dolphin Entertainment has strategically tackled a documentary, a gin product, and several upcoming events despite challenges due to actors' strikes in 2023.
Active planning for new business ventures in 2024 and 2025 aimed at significant revenue growth.
More details: Dolphin Entertainment IR
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