Welcome to our dedicated page for Alliance Entertainment Holding Corporation news (Ticker: AENT), a resource for investors and traders seeking the latest updates and insights on Alliance Entertainment Holding Corporation stock.
Alliance Entertainment Holding Corporation (NASDAQ: AENT) is a premier global distributor and wholesaler specializing in music, movies, video games, electronics, arcades, toys, and collectibles. With over 35 years of distribution experience, the company offers a vast catalog of 325,000 unique in-stock SKUs, including 57,300 exclusive compact discs, vinyl LP records, DVDs, Blu-rays, and video games. Beyond media, Alliance also stocks a full array of related accessories, toys, and collectibles.
Alliance Entertainment serves customers of all sizes, providing a comprehensive suite of services to resellers and retailers worldwide. The company's efficient processing and essential seller tools significantly reduce the administrative costs associated with managing multiple vendor relationships. These tools also assist omni-channel retailers in expanding their product selection and fulfillment goals.
Recently, Alliance Entertainment announced several significant developments:
- Financial Performance: The company reported strong financial results for Q2 FY 2024, including net revenues of $425.6 million and a gross profit increase of 128% to $47.7 million.
- Technological Advancements: Alliance installed Sure Sort® X, a cost-saving sortation technology, at its Kentucky facility, expected to save $400,000 annually in labor costs.
- Partnerships and Collaborations: The company extended its partnership with Cineverse Corp and Tsuburaya Fields Media & Pictures Entertainment, further expanding its distribution network and product offerings.
- Strategic Moves: Alliance has been highly focused on reducing inventory and debt, with significant year-over-year decreases in both.
Additionally, Alliance's AMPED Distribution arm has been active in launching new music releases, such as the highly anticipated album 'Coming Home' by Usher, aligning with major events like the Super Bowl. The company's participation in Record Store Day 2024 also set new sales records, driven by high-profile releases from artists like Taylor Swift and Pearl Jam.
For more information, visit www.aent.com.
Alliance Entertainment Holding (Nasdaq: AENT) reported its financial results for Q4 and fiscal year 2024 ended June 30, 2024. Key highlights include:
- Net revenue of $1.1 billion for FY 2024
- Gross profit increased 24% to $128.9 million, with margin improving 270bps to 11.7%
- Net income of $4.6 million, a $40 million improvement from prior year
- Adjusted EBITDA improved by $41.9 million to $24.3 million
- Higher-margin Direct-to-Consumer sales increased to 36% of gross revenue
- Inventory reduced to $97 million from $147 million
- Revolver balance reduced by 45% to $73 million
- Secured new $120 million credit facility
The company focused on operational efficiencies, margin improvements, and strengthening its balance sheet, resulting in a significant profitability turnaround.
Alliance Entertainment Holding (Nasdaq: AENT) has announced a conference call to discuss its fourth quarter and fiscal year 2024 results on September 19, 2024, at 4:30 p.m. Eastern Time. The call will be hosted by Executive Chairman Bruce Ogilvie and CEO/CFO Jeff Walker, followed by a Q&A session. A press release detailing the results will be issued before the call, and a presentation will be available during the webcast and on the company's investor relations website.
Participants can join via toll-free (1-877-407-0784) or international (1-201-689-8560) dial-in numbers using Conference ID 13748671. The call will be broadcast live and available for replay at the provided webcast link and on the company's website. A telephone replay will be accessible until November 19, 2024.
Alliance Entertainment Holding (Nasdaq: AENT) has signed an exclusive distribution agreement with Arcade1Up for retail and website fulfillment of their complete line of arcade and gaming products in North America. Arcade1Up, with over 95% market share in home arcade consoles, licenses popular games like PAC-MAN, Mortal Kombat, and NBA Jam. During Alliance's fiscal year ending June 30, 2024, Arcade1Up product sales exceeded $74 million.
Alliance has been distributing Arcade1Up products since 2021 and has developed robust in-store and online sales channels. Major retailers including Best Buy, Walmart, and Amazon have had success with these products. The partnership aims to expand distribution to retailers and e-commerce consumers, leveraging Alliance's consumer direct fulfillment division to ship products directly to retail partners' consumers with zero inventory risk.
Alliance Entertainment (Nasdaq: AENT) announced a new partnership with Tsuburaya Productions for the San Diego Comic-Con, taking place from July 25-28, 2024. Their popmarket e-commerce site will operate the ULTRAMAN booth, featuring exclusive collectibles, posters, and Blu-ray™ and SteelBook® products. The booth will offer items from Bandai, Nakatomi, and Mill Creek Entertainment. Tim Hinsley, SVP of Retail Sales, expressed excitement about engaging with fans and collectors. ULTRAMAN, which has over 50 product licenses in the US and recent successes in films like Shin Ultraman and Ultraman Rising on Netflix, will have a dedicated booth with special editions and memorabilia.
Mill Creek Entertainment, a branch of Alliance Entertainment Holding (Nasdaq: AENT), has announced the extension and expansion of its partnership with Tsuburaya Fields Media & Pictures Entertainment. This agreement covers digital and physical rights for a range of ULTRAMAN episodic series and films, including many that have not been available in the US before. The ULTRAMAN franchise, which began in 1966, has over 50 product licenses in the US and a strong global presence. The partnership aims to meet fan demand for more ULTRAMAN content, with new releases starting in July 2024. Since 2019, Mill Creek has successfully released over 50 ULTRAMAN titles, and the renewed partnership will bring a new slate of TV series and feature films in the coming years.
Alliance Entertainment (Nasdaq: AENT), a global distributor of multimedia and electronics, announced its participation in the iAccess Alpha Best Ideas Summer Conference on June 25-26, 2024, and the Noble Capital Virtual TMT Conference on June 27, 2024. Company leaders Bruce Ogilvie and Jeff Walker will discuss operational improvements, technology enhancements, and new acquisition opportunities. Alliance reported strong performance for the nine months ending March 31, 2024, with increased gross profit and adjusted EBITDA. The company is focusing on expense reduction, debt reduction, and improved inventory management to further boost EBITDA and inventory turnover. The events will be accessible through the Alliance Entertainment investor relations website.
Alliance Entertainment announced key promotions within their executive team, appointing Warwick Goldby as Chief Operating Officer, Amanda Gnecco as Chief Accounting Officer, and Robert Black as Chief Compliance Officer. Warwick Goldby, with over 20 years of experience, has been instrumental in the company's automation initiatives. Amanda Gnecco brings 15 years of finance and accounting experience and has driven major initiatives, including acquisitions and a de-SPAC transaction. Robert Black, with more than 25 years of diverse experience, will focus on regulatory compliance and risk management. These promotions aim to drive growth, innovation, and operational excellence within the company.
Alliance Entertainment's Distribution Solutions has extended its partnership with Cineverse, a streaming technology and entertainment company. Over their four-year collaboration, Distribution Solutions has released over 200 SKUs for Cineverse, including Hallmark brand titles and popular films from Screen Media. Recent releases include the April 2024 Steelbook editions of "RoboDoc: The Creation of RoboCop" and "Terrifier 2." Upcoming releases in the next 12-18 months feature "Hallmark Countdown to Christmas Deluxe Movie Collection" and "Yu-Gi-Oh! The Movie Steelbook." Both companies aim to cater to passionate fandoms by providing physical media products to meet consumer demand.
Alliance Entertainment Holding (Nasdaq: AENT) reported strong financial results for Q3 FY 2024, with net revenues totaling $211.2 million, a gross profit increase to $28.0 million, and an improved gross margin of 13.3%. Debt was reduced by $40 million in the last 12 months, showcasing financial stability and growth.
Alliance Entertainment Holding (Nasdaq: AENT) announced their results for the latest Record Store Day event, with sales soaring by over 30% compared to the previous year. The company shipped more than 600,000 units across 400 unique titles to participating retailers, marking their largest sales month ever. With vinyl records gaining popularity, Alliance Entertainment continues to lead in distributing exclusive Record Store Day products to independent retail stores.
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