The following is a summary of the Loop Media, Inc. (LPTV) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Loop Media reported a decrease in Q2 2024 revenue to $4 million, a 26% decrease from Q2 2023.

• The company's gross profit margin dropped to 10.4% in Q2 2024 from 29.4% in Q2 2023.

• The net loss for Q2 2024 was $7.6 million (or $0.11 per share), smaller than the $9.8 million ($0.17 per share) loss of Q2 2023.

• As of March 2024, Loop Media's cash and cash equivalents were down to $2.2 million from $3.8 million in December 2023.

Business Progress:

• Loop Media has around 83,000 active Loop Players and partner screens across their network as of March 2024.

• Significant organizational changes have been implemented to increase competitiveness and speed up the journey to breakeven and operating profitability.

• The focus is on increasing the distribution footprint in selected advertising markets and more appealing out-of-home locations.

• The company expects a challenging ad market environment due to changes in business terms by one of the major ad demand contributors.

• The new CEO plans to improve the profitability and increase the revenues.

More details: Loop Media IR

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