The following is a summary of the Loop Media, Inc. (LPTV) Q4 2024 Earnings Call Transcript:

Financial Performance:

• Loop Media reported a decrease in fiscal year 2024 revenue to $22.3 million from $31.6 million in fiscal 2023.

• Gross profit for fiscal year 2024 was $6.0 million, down from $10.7 million in fiscal 2023, with a gross margin rate of 26.9%.

• Net loss improved to $24.5 million in fiscal 2024 from $32 million in fiscal 2023.

• Adjusted EBITDA improved to a loss of $11.1 million in fiscal 2024 from a loss of $15.7 million in fiscal 2023.

• Cash and equivalents significantly decreased to $0.8 million as of September 30, 2024, from $3.1 million the previous year.

Business Progress:

• Executed strategic cost-cutting initiatives, including significant workforce reductions and restructuring contracts to enhance efficiency.

• Transitioned from relying on third-party affiliates to internal management for Loop Player distribution, reducing costs significantly.

• Advanced software upgrades to enhance advertising productivity and functionality of Loop Players.

Opportunities:

• Focused on increasing the productivity of proprietary Loop Players to potentially enhance distribution and improve the financial bottom line in the upcoming fiscal year.

Risks:

• Despite strategic optimizations and reductions in operating costs, revenue continues to decline significantly, which could pose challenges in achieving future profitability.

More details: Loop Media IR

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