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Earnings Call Summary | DESTINY MEDIA TECHNOLOGIES INC(DSNY.US) Q2 2024 Earnings Conference

Futu News ·  Apr 16 07:32  · Conference Call

The following is a summary of the Destiny Media Technologies Inc. (DSNY) Q2 2024 Earnings Call Transcript:

Financial Performance:

  • Destiny Media Technologies Inc. reported a 9% increase in Q2 revenue, contributing to a 9.9% growth in year-to-date revenue.

  • Independent label revenue, accounting for over 50% of total revenue, saw an increase of 19.5% in Q1 and 10.5% in Q2.

  • Year-to-date expenditures increased by 23.3%, including a one-time foreign exchange gain.

  • Year-to-date income stands at $120,000 with an EBITDA of $285,000.

Business Progress:

  • Destiny transitioned its largest customer to the web version of Caster, discontinuing the PC-based version.

  • The firm has rolled out several product updates, including improved list creation and provision channels, the implementation of social sharing features, and in-platform commenting for lead generation.

  • Destiny is developing a new music tracking feature, Music Tracking Radar (MTR), currently in its beta phase and set to launch soon.

More details: DESTINY MEDIA TECHNOLOGIES INC IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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