Dolphin Entertainment Announces Record Quarterly Revenue of $12.0 Million and Adjusted Operating Income of $0.3 Million in Q4
Dolphin Entertainment Announces Record Quarterly Revenue of $12.0 Million and Adjusted Operating Income of $0.3 Million in Q4
Expands TAM by entering multiple new verticals in Q4 2023, and 2024, highlighted by:
通過在 2023 年第四季度和 2024 年進入多個新的垂直領域來擴展 TAM,重點是:
October 2023 Acquisition of Premiere Talent Booking, Creative Content, and Event Agency, SPECIAL PROJECTS
2023 年 10 月收購首屈一指的人才預訂、創意內容和活動代理機構、特別項目
January 2024 Introduction of Skin Care & Beauty Division within Influencer Marketing and Talent Management subsidiary The Digital Dept.
2024年1月在網紅營銷和人才管理子公司數字部內成立護膚與美容部門
February 2024 Launch of Young Adult Division within The Digital Dept.
2024 年 2 月在數字部門內成立青少年部
MIAMI, FL / ACCESSWIRE / March 28, 2024 / Dolphin Entertainment, Inc. (NASDAQ:DLPN), a leading entertainment marketing and premium content production company, announces its financial results for the fourth quarter ended December 31, 2023.
佛羅里達州邁阿密/ACCESSWIRE/2024年3月28日/領先的娛樂營銷和優質內容製作公司海豚娛樂公司(納斯達克股票代碼:DLPN)公佈了截至2023年12月31日的第四季度財務業績。
Bill O'Dowd, CEO of Dolphin Entertainment commented:
海豚娛樂首席執行官比爾·奧多德評論說:
"In Q4 2023 Dolphin achieved record revenue of $12.0 million, an increase of 8% year over year, despite the impact of two lengthy industry-wide strikes. Even more impressively, the team delivered positive Adjusted Operating Income of $0.3 Million in the face of such headwinds. Moving forward, following the industry's return to normalcy post-strikes, we foresee positive Adjusted Operating Income on a continuous annual basis, which marks Dolphin's next stage of evolution after the completion of our acquisition strategy and the formation of our Entertainment Marketing Super Group (with Special Projects joining Dolphin in Q4).
“儘管受到了兩次漫長的全行業罷工的影響,但海豚在2023年第四季度還是實現了創紀錄的1,200萬美元收入,同比增長了8%。更令人印象深刻的是,面對這樣的不利因素,該團隊實現了30萬美元的正調整後營業收入。展望未來,在罷工後該行業恢復正常之後,我們預計調整後營業收入將持續增長,這標誌着Dolphin在完成收購戰略和成立娛樂營銷超級集團(特別項目將在第四季度加入Dolphin)之後的下一個發展階段。
Now we turn our attention to delivering synergy and organic growth between our companies, and to marketing the Ventures in which we have ownership stakes. This work has already started, and some big milestones will be achieved in the next few weeks.
現在,我們將注意力轉向實現公司之間的協同作用和有機增長,以及營銷我們擁有所有權的企業。這項工作已經開始,在接下來的幾周內將實現一些重要的里程碑。
- Our "Blue Angels" documentary, produced under our multi-year partnership with IMAX, will debut in IMAX theaters on May 17 and on Amazon Prime on May 23, just in time for Memorial Day Weekend.
- Q2 will also see the launch of the first product ideated by Dolphin that is in partnership with one of the A-list celebrities on our talent rosters.
- Later in the year, we expect to make the announcement of the first of Dolphin's owned or co-owned live events, to occur in late 2024 or in 2025.
- 我們與IMAX多年合作製作的 “藍天使” 紀錄片將於5月17日在IMAX影院上映,並於5月23日在亞馬遜Prime上首映,正好趕上陣亡將士紀念日週末。
- 第二季度還將推出由Dolphin構思的第一款產品,該產品是與我們的人才名單上的A級名人合作開發的。
- 今年晚些時候,我們預計將宣佈Dolphin自有或共同擁有的首場直播活動,將於2024年底或2025年舉行。
Content, consumer products and live events will be the cornerstones of our Ventures, and with Special Projects' expertise in curated, celebrity-inclusive live events, we now have the capability to launch Ventures across all 3 categories of focus. Importantly, we expect Dolphin will receive ownership stakes in the majority of these Ventures without the requirement of a cash investment.
內容、消費品和直播活動將是我們創業的基石,憑藉Special Projects在精心策劃、包容名人的直播活動方面的專業知識,我們現在有能力在所有三個重點領域推出風險投資。重要的是,我們預計Dolphin無需現金投資即可獲得其中大多數企業的所有權。
Thus, with a focus on organic growth amongst our best-in-class marketing companies, and the launch of exciting Ventures in a steady cadence, we believe we're poised for sustained growth in both revenue and Adjusted Operating Income (the financial metric by which we measure ourselves)."
因此,我們專注於一流營銷公司的有機增長,並穩步推出令人興奮的Ventures,我們相信我們有望實現收入和調整後營業收入(我們衡量自己的財務指標)的持續增長。”
Q4 2023 and Recent Highlights
2023 年第四季度及近期亮點
- Total revenue for the fourth quarter ended December 31 2023 was $12.0 million, an increase of 8% over the same period in 2022.
- Adjusted operating income(1) of $0.3 million for the three months ended December 31, 2023 as compared to $0.1 million of adjusted operating income(1) for the same period in 2022.
- Operating expenses for the fourth quarter of 2023 were $20.0 million, including depreciation and amortization of $0.6 million and nonrecurring expenses of (i) $4.1 million to write off notes receivable, (ii) $3.0 million impairment of goodwill, (iii) $0.1 million of acquisition related costs and (iv) $0.1 million impairment of capitalized production costs. Operating expense for the fourth quarter of 2022 were $14.1 million, including depreciation and amortization of $0.5 million and nonrecurring expenses of (i) 0.9 million impairment of goodwill (ii) $0.2 million of acquisition related costs and (iii) $1.4 million of changes in fair value of contingent consideration.
- Net loss for the quarter was $9.6 including depreciation and amortization of $0.6 million, interest expense of $1.0 million, $0.7 million of equity losses in unconsolidated affiliates, and nonrecurring expenses of (i) $4.1 million to write off notes receivable, (ii) $3.0 million impairment of goodwill, (iii) $0.1 million of acquisition related costs and (iv) $0.1 million impairment of capitalized production costs. Net loss for the same period in prior year was $3.3 million including depreciation and amortization of $0.5 million, interest expense of $0.2 million, equity losses in unconsolidated affiliates of $0.1 million and nonrecurring expenses of (i) 0.9 million impairment of goodwill, (ii) $0.2 million of acquisition related costs and (iii) $1.4 million of changes in fair value of contingent consideration.
- Loss per share was $0.54 per share based on 17,632,822 weighted average shares outstanding for both basic loss per share and fully diluted loss per share for the three months ended December 31, 2023. Loss per share was $0.29 per share based on 11,256,578 weighted average shares outstanding for both basic loss per share and fully diluted loss per share for the three months ended December 31, 2022.
- Cash and cash equivalents of $6.4 million as of December 31, 2023, as compared to $6.1 million as of December 31, 2022.
- 截至2023年12月31日的第四季度總收入爲1,200萬美元,比2022年同期增長8%。
- 調整後的營業收入(1) 截至2023年12月31日的三個月爲30萬美元,而調整後的營業收入爲10萬美元(1) 在2022年的同期內。
- 2023年第四季度的運營支出爲2,000萬美元,包括60萬美元的折舊和攤銷以及(i)410萬美元用於註銷應收票據的非經常性支出,(ii)300萬美元的商譽減值,(iii)10萬美元的收購相關成本以及(iv)10萬美元的資本化生產成本減值。2022年第四季度的運營支出爲1,410萬美元,包括50萬美元的折舊和攤銷以及(i)90萬美元的商譽減值(ii)20萬美元的收購相關成本和(iii)140萬美元的或有對價公允價值變動的非經常性支出。
- 該季度的淨虧損爲960美元,包括60萬美元的折舊和攤銷、100萬美元的利息支出、70萬美元的未合併關聯公司的股權虧損以及(i)410萬美元的註銷應收票據、(ii)300萬美元的商譽減值、(iii)10萬美元的收購相關成本和(iv)10萬美元的資本化生產成本減值的非經常性支出。去年同期的淨虧損爲330萬美元,包括50萬美元的折舊和攤銷、20萬美元的利息支出、10萬美元的未合併關聯公司的股權虧損以及(i)90萬美元的商譽減值、(ii)20萬美元的收購相關成本和(iii)140萬美元的或有對價公允價值變動的非經常性支出。
- 根據截至2023年12月31日的三個月,每股虧損爲每股虧損17,632,822股加權平均每股虧損和全面攤薄後的每股虧損,每股虧損爲0.54美元。截至2022年12月31日的三個月,每股虧損爲0.29美元,基於11,256,578股已發行股票的加權平均值,包括基本每股虧損和全面攤薄後的每股虧損。
- 截至2023年12月31日,現金及現金等價物爲640萬美元,而截至2022年12月31日爲610萬美元。
(1)The Company has provided adjusted operating income information that has not been prepared in accordance with GAAP. This measure is defined below in the section "Use of non-GAAP measures.
(1)公司提供的調整後營業收入信息不是根據公認會計原則編制的。該衡量標準的定義見下文 “使用非公認會計准則指標” 部分。
- Dolphin acquired Special Projects, the leading agency in talent booking, creative content, and event production. With a client roster of world-class brands in the media, entertainment, fashion, and luxury sectors, Special Projects joins preeminent PR firms 42West, Shore Fire Media and The Door, influencer marketing agency The Digital Department, and content studio Viewpoint Creative in the Dolphin Entertainment collection of specialty agencies.
- 42West
- Rebranded its operating division formerly known as award-winning independent PR agency Bender/Helper Impact (BHI) to Fandoms & Franchises (F&F)
- Helped clients secure four wins at the 96th Academy Awards, and receive two dozen nominations
- Drove performance and global interest for critical, commercial and Awards-season successes 'The Boy and the Heron' and 'Godzilla Minus One'
- 42West and Shore Fire Media
- Conducted more than half a dozen PR campaigns for clients at the 2024 SXSW Film Festival
- Scored big at the 81st Golden Globes, supporting clients in the attainment of multiple awards and more than a dozen nominations
- Shore Fire Media
- Represented clients who received a collective nine Grammy Awards, and over two dozen nominations, in a broad range of categories - including Pop, R&B, Folk, Jazz, Gospel, Roots, Arrangement, Instruments and Vocals, and Best Boxed or Special Limited Edition Package - highlighting the diversity of its roster across a multitude of genres and disciplines.
- The Door
- Marked eight consecutive years representing the Food Network New York City Wine & Food Festival presented by Capital One
- Added new client Giadzy from Giada De Laurentiis the Emmy-award winning television personality, New York Times bestselling cookbook author, restaurateur and entrepreneur, to its growing roster of elite culinary clients and lifestyle brands.
- The Digital Dept.
- Partnered with Glowlab to introduce a specialized talent management division catering to skincare experts and dermatologists, led by Glowlab's Founder, Susan Yara, who also founded Naturium, which was acquired by E.L.F. Beauty for $355 million in September 2023.
- Established a Young Adult (YA) division in partnership with The Osbrink Agency, focusing on nurturing the creativity of young creators from Gen Z and Gen Alpha in the digital space.
- Hosted BRANDEdit Holiday Showroom in Hollywood, featuring 150+ creators testing and sharing beauty, wellness, and lifestyle essentials with their audience.
- Special Projects
- Partnered once more with The Academy Museum of Motion Pictures, as the talent relations partner for its third annual gala
- Continued its ongoing collaboration as the Talent Booking Partner and Entertainment Consultant for Town & Country's Annual Philanthropy Summit
- Celebrated its continued partnership as the Talent Booking Partner and Entertainment Consultant for WSJ. Magazine's Innovator Awards
- In February, made its mark on New York Fashion Week collaborating with CHANEL, Gucci and Valentino on their respective boutique openings and events
- Viewpoint Creative
- Announced its extensive partnership with the Massachusetts State Lottery, specializing in digital graphic design and animation services.
- Received Four Muse Awards for extraordinary craft that shapes compelling narratives and leaves a lasting impact on audiences.
- Dolphin收購了Special Projects,這是人才招聘、創意內容和活動製作領域的領先機構。Special Projects擁有媒體、娛樂、時尚和奢侈品領域的世界一流品牌的客戶群,與卓越的公關公司42West、Shore Fire Media和The Door、網紅營銷機構數字部門和內容工作室Viewpoint Creative一起加入了海豚娛樂的專業代理機構。
- 42West
- 將其前身爲屢獲殊榮的獨立公關機構Bender/Helper Impact(BHI)的運營部門更名爲Fandoms & Franchises(F&F)
- 幫助客戶在第 96 屆奧斯卡頒獎典禮上獲得四項大獎,並獲得二十多項提名
- 推動了批評、商業和頒獎季的成功作品《男孩與蒼鷺》和《哥斯拉減一》的業績和全球關注
- 42西部和海岸消防媒體
- 在 2024 年 SXSW 電影節上爲客戶開展了六次以上的公關活動
- 在 81 分大放異彩st 金球獎,支持客戶獲得多個獎項和十幾項提名
- 海岸消防媒體
- 代表共獲得九項格萊美獎和二十多項提名的客戶,這些提名涉及多個類別——包括流行音樂、R&B、民歌、爵士、福音、根源、編曲、樂器和人聲以及最佳盒裝或特別限量版套餐——突顯了其陣容在多種流派和學科中的多樣性。
- 《大門》
- 連續八年代表Capital One主辦的紐約美食網絡葡萄酒與美食節
- 來自獲得艾美獎的電視名人、《紐約時報》暢銷食譜作者、餐廳老闆和企業家賈達·德勞倫蒂斯的新客戶Giadzy加入其不斷增長的精英烹飪客戶和生活方式品牌陣容。
- 數字部
- 與Glowlab合作成立了一個專門的人才管理部門,該部門面向護膚專家和皮膚科醫生,該部門由Glowlab的創始人蘇珊·亞拉領導,他還創立了Naturium,該公司於2023年9月被E.L.F. Beauty以3.55億美元的價格收購。
- 與奧斯布林克機構合作成立了青年成人(YA)部門,專注於在數字領域培育Z世代和Alpha世代的年輕創作者的創造力。
- 在好萊塢舉辦了BrandEdit假日展廳,有150多位創作者測試並與觀衆分享美容、健康和生活方式必需品。
- 特別項目
- 再次與學院電影博物館合作,成爲其第三屆年度晚會的人才關係合作伙伴
- 作爲Town & Country年度慈善峯會的人才預訂合作伙伴和娛樂顧問,繼續進行持續合作
- 慶祝其作爲《華爾街日報》的人才預訂合作伙伴和娛樂顧問的持續合作伙伴關係。雜誌的創新者獎
- 2月,在紐約時裝週上大放異彩,與香奈兒、古馳和華倫天奴合作舉辦了各自的精品店開業和活動
- 觀點創意
- 宣佈與馬薩諸塞州彩票公司建立了廣泛的合作伙伴關係,專門提供數字平面設計和動畫服務。
- 憑藉塑造引人入勝的敘事並對觀衆產生持久影響的非凡技藝獲得了四項繆斯獎。
Conference Call Information
電話會議信息
To participate in this event, dial in approximately 5 to 10 minutes before the beginning of the call.
要參加此活動,請在通話開始前大約 5 到 10 分鐘撥號。
Date: March 28, 2024
Time: 4:30pm ET
Toll Free: 888-506-0062 International: 973-528-0011 Participant Access Code: 744698
Webcast:
日期:2024 年 3 月 28 日
時間:美國東部時間下午 4:30
免費電話:888-506-0062 國際:973-528-0011 參與者接入碼:744698
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免費電話:877-481-4010 國際:919-882-2331 重播密碼:50241
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About Dolphin Entertainment, Inc.
關於 Dolphin 娛樂公司
Dolphin Entertainment is a leading independent entertainment marketing and production company. Through our subsidiaries 42West, The Door and Shore Fire Media, we provide expert strategic marketing and publicity services to many of the top brands, both individual and corporate, in the film, television, music, gaming and hospitality industries. All three PR firms have been ranked among the most recent Observer's "Power 50" PR Firms in the United States. Viewpoint Creative, The Digital Dept. complement their efforts with full-service creative branding and production capabilities as well as social media and influencer marketing services. Special Projects, Dolphin's most recent acquisition, provides talent booking services and event production for high-end clients across the media, entertainment and fashion industries. Dolphin's legacy content production business, founded by Emmy-nominated CEO Bill O'Dowd, has produced multiple feature films and award-winning digital series, and has recently entered into a multi-year agreement with IMAX to co-produce feature documentaries. To learn more, visit: .
海豚娛樂是一家領先的獨立娛樂營銷和製作公司。通過我們的子公司42West、The Door和Shore Fire Media,我們爲電影、電視、音樂、遊戲和酒店行業的許多個人和企業頂級品牌提供專業的戰略營銷和宣傳服務。這三家公關公司都被評爲美國《觀察家》雜誌最近發佈的 “Power 50” 公關公司之列。Viewpoint Creative,數字部門通過提供全方位的創意品牌和製作能力以及社交媒體和網紅營銷服務來補充他們的努力。Special Projects是Dolphin的最新收購,爲媒體、娛樂和時尚行業的高端客戶提供人才預訂服務和活動製作。Dolphin的傳統內容製作業務由艾美獎提名的首席執行官比爾·奧多德創立,已經制作了多部故事片和屢獲殊榮的數字系列,最近還與IMAX簽訂了爲期多年的協議,共同製作故事紀錄片。要了解更多,請訪問:。
This press release contains 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act. These forward-looking statements may address, among other things, Dolphin Entertainment Inc.'s offering of common stock as well as expected financial and operational results and the related assumptions underlying its expected results. These forward-looking statements are distinguished by the use of words such as "will," "would," "anticipate," "expect," "believe," "designed," "plan," or "intend," the negative of these terms, and similar references to future periods. These views involve risks and uncertainties that are difficult to predict, and accordingly, Dolphin Entertainment's actual results may differ materially from the results discussed in its forward-looking statements. Dolphin Entertainment's forward-looking statements contained herein speak only as of the date of this press release. Factors or events Dolphin Entertainment cannot predict, including those described in the risk factors contained in its filings with the Securities and Exchange Commission, may cause its actual results to differ from those expressed in forward-looking statements. Although Dolphin Entertainment believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be achieved. Dolphin Entertainment undertakes no obligation to update publicly any forward-looking statements as a result of new information, future events, or otherwise, except as required by applicable law.
本新聞稿包含《私人證券訴訟改革法》所指的 “前瞻性陳述”。除其他外,這些前瞻性陳述可能涉及海豚娛樂公司。”普通股的發行以及預期的財務和運營業績及其預期業績所依據的相關假設。這些前瞻性陳述的特點是使用了 “將”、“預期”、“期望”、“相信”、“設計”、“計劃” 或 “打算” 等詞語,這些術語的否定詞語以及對未來時期的類似提法。這些觀點涉及難以預測的風險和不確定性,因此,Dolphin Entertainment的實際業績可能與其前瞻性陳述中討論的結果存在重大差異。此處包含的海豚娛樂的前瞻性陳述僅代表截至本新聞稿發佈之日。Dolphin Entertainment無法預測的因素或事件,包括向美國證券交易委員會提交的文件中描述的風險因素中描述的因素或事件,可能導致其實際業績與前瞻性陳述中表達的結果不同。儘管Dolphin Entertainment認爲此類前瞻性陳述中反映的預期是基於合理的假設,但它無法保證其預期會實現。除非適用法律要求,否則Dolphin Entertainment沒有義務因新信息、未來事件或其他原因而公開更新任何前瞻性陳述。
Contact:
聯繫人:
James Carbonara/Hayden IR
(646)-755-7412
james@haydenir.com
詹姆斯·卡波納拉/Hayden IR
(646) -755-7412
james@haydenir.com
DOLPHIN ENTERTAINMENT, INC. AND SUBSIDIARIES
Consolidated Balance Sheets
As of December 31, 2023 and 2022
(unaudited)
海豚娛樂有限公司和子公司
合併資產負債表
截至 2023 年 12 月 31 日和 2022 年 12 月 31 日
(未經審計)
2023 | 2022 | |||||||
ASSETS |
||||||||
Current |
||||||||
Cash and cash equivalents |
$ | 6,432,731 | $ | 6,069,889 | ||||
Restricted cash |
1,127,960 | 1,127,960 | ||||||
Accounts receivable: |
||||||||
Trade, net of allowance of $1,456,752 and $736,820, respectively |
5,817,615 | 6,162,472 | ||||||
Other receivables |
6,643,960 | 5,552,993 | ||||||
Notes receivable |
- | 4,426,700 | ||||||
Other current assets |
701,335 | 523,812 | ||||||
Total current assets |
20,723,601 | 23,863,826 | ||||||
Capitalized production costs, net |
2,295,275 | 1,598,412 | ||||||
Employee receivable |
796,085 | 604,085 | ||||||
Right-of-use assets |
5,599,736 | 7,341,045 | ||||||
Goodwill |
25,220,085 | 29,314,083 | ||||||
Intangible assets, net |
11,209,664 | 9,884,336 | ||||||
Property, equipment and leasehold improvements, net |
194,223 | 293,206 | ||||||
Other long-term assets |
216,305 | 2,477,839 | ||||||
Total Assets |
$ | 66,254,974 | $ | 75,376,832 | ||||
LIABILITIES |
||||||||
Current
Accounts payable
|
$ | 6,892,349 | $ | 4,798,221 | ||||
Term loan, current portion |
980,651 | 408,905 | ||||||
Revolving line of credit |
400,000 | - | ||||||
Notes payable, current portion |
3,500,000 | 3,868,960 | ||||||
Contingent consideration |
- | 500,000 | ||||||
Accrued interest - related party |
1,718,009 | 1,744,723 | ||||||
Accrued compensation - related party |
2,625,000 | 2,625,000 | ||||||
Lease liability, current portion |
2,192,213 | 2,073,547 | ||||||
Deferred revenue |
1,451,709 | 1,641,459 | ||||||
Other current liabilities |
7,694,114 | 7,626,836 | ||||||
Total current liabilities |
27,454,045 | 25,287,651 | ||||||
Noncurrent |
||||||||
Term loan, noncurrent portion |
4,501,963 | 2,458,687 | ||||||
Notes payable, noncurrent portion |
3,380,000 | 500,000 | ||||||
Convertible notes payable |
5,100,000 | 5,050,000 | ||||||
Convertible notes payable at fair value |
355,000 | 343,556 | ||||||
Loan from related party |
1,107,873 | 1,107,873 | ||||||
Contingent consideration |
- | 238,821 | ||||||
Lease liability |
4,068,642 | 6,012,049 | ||||||
Deferred tax liability |
306,691 | 253,188 | ||||||
Warrant liability |
5,000 | 15,000 | ||||||
Other noncurrent liabilities |
18,915 | 18,915 | ||||||
Total Liabilities |
46,298,129 | 41,285,740 | ||||||
STOCKHOLDERS' EQUITY |
||||||||
Preferred Stock, Series C, $0.001 par value, 50,000 shares authorized, 50,000 shares issued and outstanding at December 31, 2023 and 2022 |
1,000 | 1,000 | ||||||
Common stock, $0.015 par value, 200,000,000 shares authorized, 18,219,531 and 12,340,664 shares issued and outstanding at December 31, 2023 and 2022, respectively |
273,293 | 185,110 | ||||||
Additional paid in capital |
153,293,756 | 143,119,461 | ||||||
Accumulated deficit |
(133,611,204) | (109,214,479) | ||||||
Total Stockholders' Equity |
19,956,845 | 34,091,092 | ||||||
Total Liabilities and Stockholders' Equity |
$ | 66,254,974 | $ | 75,376,832 |
2023 | 2022 | |||||||
資產 |
||||||||
當前 |
||||||||
現金和現金等價物 |
$ | 6,432,731 | $ | 6,069,889 | ||||
限制性現金 |
1,127,960 | 1,127,960 | ||||||
應收賬款: |
||||||||
交易,分別扣除1,456,752美元和736,820美元的津貼 |
5,817,615 | 6,162,472 | ||||||
其他應收賬款 |
6,643,960 | 5,552,993 | ||||||
應收票據 |
- | 4,426,700 | ||||||
其他流動資產 |
701,335 | 523,812 | ||||||
流動資產總額 |
20,723,601 | 23,863,826 | ||||||
資本化生產成本,淨額 |
2,295,275 | 1,598,412 | ||||||
員工應收賬款 |
796,085 | 604,085 | ||||||
使用權資產 |
5,599,736 | 7,341,045 | ||||||
善意 |
25,220,085 | 29,314,083 | ||||||
無形資產,淨額 |
11,209,664 | 9,884,336 | ||||||
不動產、設備和租賃權改善,淨額 |
194,223 | 293,206 | ||||||
其他長期資產 |
216,305 | 2,477,839 | ||||||
總資產 |
$ | 66,254,974 | $ | 75,376,832 | ||||
負債 |
||||||||
當前
應付賬款
|
$ | 6,892,349 | $ | 4,798,221 | ||||
定期貸款,流動部分 |
980,651 | 408,905 | ||||||
循環信貸額度 |
40 萬 | - | ||||||
應付票據,本期部分 |
3,500,000 | 3,868,960 | ||||||
或有考慮 |
- | 50 萬 | ||||||
應計利息-關聯方 |
1,718,009 | 1,744,723 | ||||||
應計薪酬-關聯方 |
2,625,000 | 2,625,000 | ||||||
租賃負債,流動部分 |
2,192,213 | 2,073,547 | ||||||
遞延收入 |
1,451,709 | 1,641,459 | ||||||
其他流動負債 |
7,694,114 | 7,626,836 | ||||||
流動負債總額 |
27,454,045 | 25,287,651 | ||||||
非當前 |
||||||||
定期貸款,非流動部分 |
4,501,963 | 2,458,687 | ||||||
應付票據,非流動部分 |
3,380,000 | 50 萬 | ||||||
可轉換票據應付款 |
5,100,000 | 5,050,000 | ||||||
按公允價值應付的可轉換票據 |
355,000 | 343,556 | ||||||
關聯方貸款 |
1,107,873 | 1,107,873 | ||||||
或有考慮 |
- | 238,821 | ||||||
租賃責任 |
4,068,642 | 6,012,049 | ||||||
遞延所得稅負債 |
306,691 | 253,188 | ||||||
認股權證責任 |
5000 | 15,000 | ||||||
其他非流動負債 |
18,915 | 18,915 | ||||||
負債總額 |
46,298,129 | 41,285,740 | ||||||
股東權益 |
||||||||
優先股,C系列,面值0.001美元,授權5萬股,截至2023年12月31日和2022年12月31日已發行和流通5萬股 |
1,000 | 1,000 | ||||||
普通股,面值0.015美元,已授權2億股,截至2023年12月31日和2022年12月31日已發行和流通的股票分別爲18,219,531和12,340,664股 |
273,293 | 185,110 | ||||||
額外已繳資本 |
153,293,756 | 143,119,461 | ||||||
累計赤字 |
(133,611,204) | (109,214,479) | ||||||
股東權益總額 |
19,956,845 | 34,091,092 | ||||||
負債總額和股東權益 |
$ | 66,254,974 | $ | 75,376,832 |
DOLPHIN ENTERTAINMENT, INC. AND SUBSIDIARIES
Consolidated Statements of Operations
For the years ended December 31, 2023 and 2022
(unaudited)
海豚娛樂有限公司和子公司
合併運營報表
截至2023年12月31日和2022年12月31日的年度
(未經審計)
2023 | 2022 | |||||||
Revenues |
$ | 43,123,075 | $ | 40,505,558 | ||||
Expenses: |
||||||||
Direct costs |
946,962 | 3,566,336 | ||||||
Payroll and benefits |
35,030,257 | 28,947,730 | ||||||
Selling, general and administrative |
8,434,549 | 6,572,020 | ||||||
Acquisition costs |
116,151 | 480,939 | ||||||
Impairment of goodwill |
9,484,215 | 906,337 | ||||||
Impairment of intangible assets |
341,417 | - | ||||||
Write-off of notes receivables |
4,108,080 | - | ||||||
Change in fair value of contingent consideration |
33,226 | (47,285) | ||||||
Depreciation and amortization |
2,253,619 | 1,751,211 | ||||||
Legal and professional |
2,485,096 | 2,903,412 | ||||||
Total expenses |
63,233,572 | 45,080,700 | ||||||
Loss from operations |
(20,110,497) | (4,575,142) | ||||||
Other (expenses) income: |
||||||||
Change in fair value of convertible notes |
(11,444) | 654,579 | ||||||
Change in fair value of warrants |
10,000 | 120,000 | ||||||
Interest income |
2,877 | 309,012 | ||||||
Interest expense |
(2,085,107) | (864,814) | ||||||
Total other income (expense), net |
(2,083,674) | 218,777 | ||||||
Loss before income taxes and equity in losses of unconsolidated affiliates |
$ | (22,194,171) | $ | (4,356,365) | ||||
Income tax expense |
(53,504) | (176,981) | ||||||
Net loss before equity in losses of unconsolidated affiliates |
(22,247,675) | (4,533,346) | ||||||
Equity in losses of unconsolidated affiliates |
(2,149,050) | (246,789) | ||||||
Net loss |
$ | (24,396,725) | $ | (4,780,135) | ||||
Loss per share: |
||||||||
Basic |
$ | (1.69) | $ | (0.49) | ||||
Diluted |
$ | (1.69) | $ | (0.56) | ||||
Weighted average number of shares used in per share calculation |
||||||||
Basic |
14,413,154 | 9,799,021 | ||||||
Diluted |
14,413,154 | 9,926,926 |
2023 | 2022 | |||||||
收入 |
$ | 43,123,075 | $ | 40,505,558 | ||||
費用: |
||||||||
直接成本 |
946,962 | 3,566,336 | ||||||
工資和福利 |
35,030,257 | 28,947,730 | ||||||
銷售、一般和管理 |
8,434,549 | 6,572,020 | ||||||
收購成本 |
116,151 | 480,939 | ||||||
商譽減值 |
9,484,215 | 906,337 | ||||||
無形資產減值 |
341,417 | - | ||||||
註銷應收票據 |
4,108,080 | - | ||||||
或有對價公允價值的變化 |
33,226 | (47,285) | ||||||
折舊和攤銷 |
2,253,619 | 1,751,211 | ||||||
法律和專業 |
2,485,096 | 2,903,412 | ||||||
支出總額 |
63,233,572 | 45,080,700 | ||||||
運營損失 |
(20,110,497) | (4,575,142) | ||||||
其他(支出)收入: |
||||||||
可轉換票據公允價值的變化 |
(11,444) | 654,579 | ||||||
認股權證公允價值的變化 |
1萬個 | 12萬 | ||||||
利息收入 |
2877 | 309,012 | ||||||
利息支出 |
(2,085,107) | (864,814) | ||||||
其他收入(支出)總額,淨額 |
(2,083,674) | 218,777 | ||||||
未合併關聯公司的所得稅前虧損和權益虧損 |
$ | (22,194,171) | $ | (4,356,365) | ||||
所得稅支出 |
(53,504) | (176,981) | ||||||
未合併關聯公司的虧損扣除權益後的淨虧損 |
(22,247,675) | (4,533,346) | ||||||
未合併關聯公司的權益虧損 |
(2,149,050) | (246,789) | ||||||
淨虧損 |
$ | (24,396,725) | $ | (4,780,135) | ||||
每股虧損: |
||||||||
基本 |
$ | (1.69) | $ | (0.49) | ||||
稀釋 |
$ | (1.69) | $ | (0.56) | ||||
每股計算中使用的加權平均股票數 |
||||||||
基本 |
14,413,154 | 9,799,021 | ||||||
稀釋 |
14,413,154 | 9,926,926 |
Use of Non-GAAP Financial Measures
非公認會計准則財務指標的使用
In order to provide greater transparency regarding our operating performance, the financial results in this press release refer to a non-GAAP financial measure that involves adjustments to GAAP results. Non-GAAP financial measures exclude certain income and/or expense items that management deems are not directly attributable to the Company's core operating results and/or certain items that are inconsistent in amounts and frequency, making it difficult to perform a meaningful evaluation of our current or past operating performance.
爲了提高我們的經營業績的透明度,本新聞稿中的財務業績是指一項涉及調整公認會計准則業績的非公認會計准則財務指標。非公認會計准則財務指標不包括管理層認爲不能直接歸因於公司核心經營業績的某些收入和/或支出項目和/或某些金額和頻率不一致的項目,因此很難對我們當前或過去的經營業績進行有意義的評估。
Adjusted operating income or loss is defined by Dolphin as (loss) income from operations before: (i) depreciation and amortization, (ii) write-off of assets, (iii) impairment of goodwill or intangible assets, (iv) acquisition costs, (v) employee stock compensation, (vi) change in fair value of contingent consideration, (vii) bad debt expense and (viii) and impairment of capitalized production costs.
Dolphin將調整後的營業收入或虧損定義爲以下之前的運營收入(虧損):(i)折舊和攤銷,(ii)資產註銷,(iii)商譽或無形資產減值,(iv)收購成本,(v)員工股票薪酬,(vii)或有對價公允價值的變化,(viii)壞賬支出以及(viii)資本化生產成本的減值。
Management believes that the presentation of operating results using this non-GAAP financial measure provides useful supplemental information for investors by providing them with the non-GAAP financial measure used by management for financial and operational decision making, planning and forecasting and in managing the business. This non-GAAP financial measure does not replace the presentation of financial information in accordance with U.S. GAAP financial results, should not be considered a measure of liquidity and is unlikely to be comparable to non-GAAP financial measures provided by other companies.
管理層認爲,使用這種非公認會計准則財務指標列報經營業績,爲投資者提供了管理層用於財務和運營決策、規劃和預測以及業務管理的非公認會計准則財務指標,爲投資者提供了有用的補充信息。這種非公認會計准則財務指標不能取代根據美國公認會計准則財務業績列報的財務信息,不應被視爲衡量流動性的指標,也不太可能與其他公司提供的非公認會計准則財務指標相提並論。
Reconciliation of GAAP loss from operations to non-GAAP income from operations
(unaudited)
將GAAP運營虧損與非GAAP運營收入的對賬
(未經審計)
For the three months ended December 31, | ||||||||
2023 | 2022 | |||||||
Revenues (GAAP) |
$ | 12,022,208 | $ | 11,138,810 | ||||
Expenses: |
||||||||
Direct costs |
325,513 | 625,292 | ||||||
Payroll and benefits |
8,915,376 | 8,000,199 | ||||||
Selling, general and administrative |
2,410,595 | 1,927,756 | ||||||
Acquisition costs |
107,328 | 165,139 | ||||||
Impairment of goodwill |
2,966,815 | 906,337 | ||||||
Write-off of notes receivables |
4,108,080 | - | ||||||
Change in fair value of contingent consideration |
- | 1,392,493 | ||||||
Depreciation and amortization |
640,843 | 502,590 | ||||||
Legal and professional |
530,059 | 585,612 | ||||||
Total expenses (GAAP) |
20,004,609 | 14,105,418 | ||||||
Loss from operations (GAAP) |
$ | (7,982,401) | $ | (2,966,608) | ||||
Adjustments to GAAP measure: |
||||||||
Acquisition costs |
107,328 | 165,139 | ||||||
Impairment of goodwill |
2,966,815 | 906,337 | ||||||
Write-off of notes receivables |
4,108,080 | - | ||||||
Change in fair value of contingent consideration |
- | 1,392,493 | ||||||
Depreciation and amortization |
640,843 | 502,590 | ||||||
Bad debt expense |
353,062 | 64,840 | ||||||
Impairment of capitalized production costs |
25,000 | - | ||||||
Stock compensation |
86,788 | 48,946 | ||||||
Income from operations (non-GAAP) | $ | 305,515 | $ | 113,737 |
在截至12月31日的三個月中 | ||||||||
2023 | 2022 | |||||||
收入 (GAAP) |
$ | 12,022,208 | $ | 11,138,810 | ||||
費用: |
||||||||
直接成本 |
325,513 | 625,292 | ||||||
工資和福利 |
8,915,376 | 8,000,199 | ||||||
銷售、一般和管理 |
2,410,595 | 1,927,756 | ||||||
收購成本 |
107,328 | 165,139 | ||||||
商譽減值 |
2,966,815 | 906,337 | ||||||
註銷應收票據 |
4,108,080 | - | ||||||
或有對價公允價值的變化 |
- | 1,392,493 | ||||||
折舊和攤銷 |
640,843 | 502,590 | ||||||
法律和專業 |
530,059 | 585,612 | ||||||
總開支(GAAP) |
20,004,609 | 14,105,418 | ||||||
運營虧損 (GAAP) |
$ | (7,982,401) | $ | (2,966,608) | ||||
對GAAP衡量標準的調整: |
||||||||
收購成本 |
107,328 | 165,139 | ||||||
商譽減值 |
2,966,815 | 906,337 | ||||||
註銷應收票據 |
4,108,080 | - | ||||||
或有對價公允價值的變化 |
- | 1,392,493 | ||||||
折舊和攤銷 |
640,843 | 502,590 | ||||||
壞賬支出 |
353,062 | 64,840 | ||||||
資本化生產成本減值 |
25000 | - | ||||||
股票補償 |
86,788 | 48,946 | ||||||
運營收入(非公認會計准則) | $ | 305,515 | $ | 113,737 |
SOURCE: Dolphin Entertainment, Inc.
來源:海豚娛樂公司
譯文內容由第三人軟體翻譯。