NEWS
Loop Media Reports 2024 Fiscal Third Quarter Financial Results
Positive
Net loss improved from $(7.9) million to $(5.5) million year-over-year
SG&A expenses reduced by 35% to $4.1 million compared to Q3 2023
Partner Screens increased by 38% to approximately 51,000 year-over-year
Introduced new subscription offerings including a two-tier music video service and non-music live channels
Net loss improved from $(7.9) million to $(5.5) million year-over-year
SG&A expenses reduced by 35% to $4.1 million compared to Q3 2023
Partner Screens increased by 38% to approximately 51,000 year-over-year
Introduced new subscription offerings including a two-tier music video service and non-music live channels
Negative
Revenue decreased 23% to $4.4 million compared to Q3 2023
Gross profit declined to $0.9 million from $1.8 million in Q3 2023
Gross margin decreased to 20.9% from 31.8% in Q3 2023
Quarterly active units on Owned and Operated Platform decreased 13% year-over-year
Cash and cash equivalents decreased to $1.5 million from $2.2 million in the previous quarter
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