The following is a summary of the Thunderbird Entertainment Group Inc. (THBRF) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Thunderbird reported Q3 2024 revenue of $35.4 million and a total revenue for the first nine months of the fiscal year of $113.5 million.

• The company reported a net income after tax for Q3 2024 of $5,000 and a net loss after tax of $100,000 for the first nine months of the fiscal year.

• There was an 11% decrease in the adjusted EBITDA for Q3 compared to the same period last year. For the first nine months, there was a reduction of 20% in adjusted EBITDA from the same period of last year.

• The company expects a 3% decrease in revenue for the fiscal year but anticipates adjusted EBITDA growth for fiscal 2024 to be above 20%.

• Despite lower-than-expected revenues, the company managed profitability for the second consecutive quarter.

Business Progress:

• Thunderbird is focused on 22 programs in various production stages with 18 clients, including Marvel's Spidey and His Amazing Friends and Mermicorno: Starfall.

• The company identifies growth potential in kids and family content genres and unscripted content due to high demand.

• Thunderbird plans to attend key industry events to increase brand awareness and has secured additional platform and licensing partners for the Mermicorno: Starfall series.

• Thunderbird maintains its commitment to a resilient balance sheet and prudent management decisions to tackle market changes while pursuing sustainable growth.

• The company expects to see industry recovery signs and increased activity in the latter part of the year and plans to reinvest in its intellectual property using service business revenue.

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