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Destiny Media Technologies Inc. Announces Fiscal 2025 Third Quarter Results

Newsfile·07/14/2025 13:00:00
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Vancouver, British Columbia--(Newsfile Corp. - July 14, 2025) - Destiny Media Technologies Inc. (TSXV: DSY) (OTCQB: DSNY), the makers of Play MPE®, a cloud-based SaaS solution for digital asset management in the music industry, today announced financial results for its fiscal 2025 third quarter ended May 31, 2025.

"Play MPE revenue remains up by 2.5% for the year in spite of a small retraction during our third quarter," said Fred Vandenberg, CEO. "We continue to make progress in preparing Play MPE® and MTR® for scalable growth in international markets."

Highlights for Q3 FY 2025

  • Revenue of $1.13M
  • Net loss of $0.07M driven by the increased amortization of the capital investments
  • Adjusted EBITDA (non-GAAP) of $0.12M (2024 - $0.22M)

Fiscal 2025 Third Quarter Earnings Webinar

Destiny Media Technologies will hold a live webinar on Monday, July 14, 2025 at 2:00 p.m. Pacific Standard Time (5:00 p.m. Eastern Standard Time) to discuss financial results for its fiscal 2025 third quarter ended May 31, 2025.

Date: Monday, July 14, 2025
Time: 2:00 p.m. Pacific Standard Time (5:00 p.m. Eastern Standard Time)

Attendees are encouraged to register prior to the scheduled time at the following: DSNY Financials or by clicking on the Webinar Registration Form.

Attendees of the webinar can submit questions voluntarily during the live presentation. Cameras will remain off for all attendees throughout the session. Microphones will also remain muted unless an attendee chooses to engage in verbal questions, similar to the format used in traditional conference calls.

The webinar format will provide the Company an opportunity to present visual information.

For those without internet access, the webinar can be accessed via the following dial in details:

Direct dial in US: +1 386 347 5053 or +1 507 473 4847 or More International numbers
Webinar ID: 872 9623 6164

Attendees participating via dial-in will not have access to the webinar video stream or the question and answer functions.

A recording of the webinar will be available after the event at DSNY Financials.

About Destiny Media Technologies Inc.

Destiny Media Technologies ("Destiny") provides software as service (SaaS) solutions to businesses in the music industry solving critical problems in distribution and promotion. The core service, Play MPE®, provides promotional music marketing to engaged networks of decision makers in radio, film, TV, and beyond. More information can be found on the DSNY website.

Forward-Looking Statements

This release contains forward-looking statements that reflect current views with respect to future events and operating performance. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected in these forward-looking statements. Destiny Media Technologies is not obligated to update these statements in the future. For more information on the Company's risks and uncertainties relating to those forward-looking statements, please refer to the Risk Factors section in our Annual Form 10-K for the fiscal year ended August 31, 2024, which is available on www.sedarplus.ca or www.sec.gov.

Contact:

Fred Vandenberg
CEO, Destiny Media Technologies, Inc.
604 609 7736 x236

DESTINY MEDIA TECHNOLOGIES, INC.
Condensed Consolidated Statements of Comprehensive Income
(Unaudited)

For the three months ended May 31,


2025

2024







Service revenue $ 1,133,963
$ 1,155,442


 

 
Cost of revenue
 

 
Hosting costs
41,374

35,036
Internal engineering support
15,897

14,249
Customer support
90,083

80,746
Third-party and transactions costs
14,518

20,013


161,872

150,044
Gross margin
972,091

1,005,398


85.7%

87.0%
Operating expenses
 

 
General and administrative
206,193

159,940
Sales and marketing
228,760

280,308
Product development
423,970

356,599
Depreciation and amortization
190,425

87,760


1,049,348

884,607
Income (loss) from operations
(77,257 )
120,791


 

 
Other income
 

 
Interest and other income
4,969

13,685
Net income (loss) before income tax
(72,288 )
134,476
Current income tax expense
-

-
Net income (loss) $ (72,288 ) $ 134,476
Foreign currency translation adjustments
119,306

(16,714 )
Total comprehensive income $ 47,018
$ 117,762


 

 
Net income (loss) per common share
 

 
Basic and diluted $ (0.01 ) $ 0.01


 

 
Weighted average common shares outstanding:
 

 
Basic
9,637,410

9,689,303
Diluted
9,637,410

9,722,035

 

DESTINY MEDIA TECHNOLOGIES, INC.
Condensed Consolidated Balance Sheets
(Unaudited)



May 31, 
2025


August 31, 
2024
 
ASSETS





Cash and cash equivalents $ 1,261,706
$ 1,481,582
Accounts receivable, net of allowance for doubtful accounts of $30,766 (August 31, 2024 - $30,624)
736,778

681,146
Other receivables
121,192

82,585
Prepaid expenses
38,534

87,345
Deposits
31,764

32,347
Total current assets
2,189,974

2,365,005


 

 
Property and equipment, net
945,473

1,174,370
Intangible assets, net
120,051

148,977
Total assets $ 3,255,498
$ 3,688,352


 

 
LIABILITIES AND STOCKHOLDERS' EQUITY
 

 
Current
 

 
Accounts payable $ 76,959
$ 151,734
Accrued liabilities
283,211

328,801
Deferred revenue
37,650

42,399
Total current liabilities
397,820

522,934
Total liabilities
397,820

522,934


 

 
Stockholders' equity
 

 
Common stock, par value $0.001, authorized 20,000,000 shares. Issued and outstanding - 9,637,410 shares (August 31, 2024 - 9,637,410 shares)
9,637

9,637
Additional paid-in capital
8,847,617

8,819,785
Accumulated deficit
(5,448,851 )
(5,192,609 )
Accumulated other comprehensive loss
(550,725 )
(471,395 )
Total stockholders' equity
2,857,678

3,165,418
Total liabilities and stockholders' equity $ 3,255,498
$ 3,688,352

 

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/258666

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