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.
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Alliance Entertainment Holding (Nasdaq: AENT) will host a conference call on May 9, 2024, at 4:30 p.m. Eastern Time to discuss its fiscal third quarter 2024 results. Executive Chairman Bruce Ogilvie and CEO/CFO Jeff Walker will lead the call, followed by a Q&A session. The call will be accompanied by a presentation accessible via the Company's website.
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Alliance Entertainment Holding (Nasdaq: AENT) to attend Music Biz 2024 in Nashville to highlight the success of physical media, with K-Pop sales up 56.2% YoY to $49.8 million. Company executives to discuss business development opportunities and initiatives with key suppliers and retailers.
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Alliance Entertainment Holding (Nasdaq: AENT) plans to showcase its 873,000 sq ft warehouse with advanced storage and retrieval technology. The company aims to update investors on its shift towards larger scale automation and profitable sales strategies.
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Alliance Entertainment Holding (Nasdaq: AENT) is implementing Sure Sort X technology at its Kentucky facility, expecting annual labor savings of $400,000 and immediate savings of $460,000. The technology is set to streamline processes, provide new capabilities, and offer continuous improvement. With nearly eight billion items sorted to date, Sure Sort X is a state-of-the-art product handling system. Alliance Entertainment's Kentucky warehouse covers 873,000 sq feet, warehousing 31 million units of entertainment products, and ships 52 million units annually. The company also introduced an AutoStore system in 2023 to maximize space and improve efficiency. The introduction of Sure Sort X aims to enhance operational efficiency, save time and money, and exceed customer expectations. The ROI from redirecting current processes into Sure Sort X is three years, with expectations of further reduction through continuous improvement.
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Alliance Entertainment Holding Corporation (Nasdaq: AENT) will attend the 36th Annual ROTH Conference to discuss strategic and financial improvements that led to reduced inventory and debt. The fiscal second quarter showed a decrease in inventory from $175 million to $114 million and debt from $177 million to $107 million. The company reported quarterly Revenue of $425.6 million, Adjusted EBITDA of $17.9 million, Gross Profit up 128% to $47.7 million, and Net Income of $8.9 million driven by these improvements.
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Alliance Entertainment Holding Corporation (AENT) reported Q2 FY 2024 net revenues of $425.6 million, a gross profit increase of 128% to $47.7 million, and a net income of $8.9 million. The company also achieved a 3-year $120 million senior secured asset-based credit facility with White Oak Commercial Finance, LLC, and significantly reduced inventory and debt. AMPED achieved a record-breaking 24 Grammy nominations for 19 artists, and the company also announced a 100% vestment of equity grants to 597 employees. Despite a decrease in net revenues for the fiscal second quarter, the company showed positive financial and operational improvements.
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Alliance Entertainment Holding Corporation (Nasdaq: AENT) proudly announced the launch of the highly anticipated album 'Coming Home' by pop and R&B sensation USHER. The physical release is timed perfectly for USHER's Super Bowl LVIII halftime show, with multiple versions available in CD and vinyl LP formats at prominent retailers. AMPED Distribution, the company's Independent Music distribution arm, has strategically ensured availability in brick-and-mortar stores just in time for the Friday street-date, preceding the Super Bowl halftime show. The album features collaborations with well-known artists and has already shown radio success, promising a memorable musical journey for fans worldwide.
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Alliance Entertainment Holding Corporation (Nasdaq: AENT) will hold a conference call on February 8, 2024, to discuss its results for the fiscal second quarter ended December 31, 2023. Executive Chairman Bruce Ogilvie, and CEO and CFO Jeff Walker will host the call, followed by a question-and-answer session. The call will be broadcast live and available for replay. The Company is a distributor and wholesaler of music, movies, video games, electronics, arcades, toys, and collectibles.
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Alliance Entertainment Holding Corporation (Nasdaq: AENT) has announced that it has regained compliance with Nasdaq Listing Rule 5550(a)(2) after the closing bid price of the Company's common stock has been at $1.00 per share or greater for ten consecutive business days from January 4, 2024, to January 18, 2024.
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Alliance Entertainment Holding Corporation (Nasdaq: AENT) announced that its COKeM gaming division reported sales of the popular Arcade1Up home arcade machines that exceeded initial forecasts in the calendar fourth quarter of 2023. Sales of Arcade1Up products performed well and exceeded expectations during the 2023 holiday season. The team worked hard to right-size arcade inventory levels, with 2023 year-ending arcade inventory standing at $17.4 million. There was also more than $20 million in new arcade inventory purchased in 2023 to support the holiday sales. The introduction of the riserless “Deluxe” Arcade Cabinets is expected to show sales growth of more than 60% in 2024.
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FAQ
What is the current stock price of Alliance Entertainment Holding Corporation (AENT)?
The current stock price of Alliance Entertainment Holding Corporation (AENT) is $5.47 as of January 22, 2025.
What is the market cap of Alliance Entertainment Holding Corporation (AENT)?
The market cap of Alliance Entertainment Holding Corporation (AENT) is approximately 262.3M.
What products does Alliance Entertainment distribute?
Alliance Entertainment distributes a wide range of products including music, movies, video games, electronics, arcades, toys, and collectibles.
How many SKUs does Alliance Entertainment offer?
Alliance Entertainment offers over 325,000 unique in-stock SKUs, including 57,300 exclusive compact discs, vinyl LP records, DVDs, Blu-rays, and video games.
What recent technological advancements has Alliance Entertainment made?
Alliance Entertainment has installed Sure Sort® X, a cost-saving sortation technology, at its Kentucky facility, saving approximately $400,000 annually in labor costs.
Which high-profile album release was recently managed by Alliance's AMPED Distribution?
AMPED Distribution managed the release of the highly anticipated album 'Coming Home' by Usher.
What financial results did Alliance Entertainment report for Q2 FY 2024?
For Q2 FY 2024, Alliance Entertainment reported net revenues of $425.6 million and a gross profit increase of 128% to $47.7 million.
What are some of the partnerships Alliance Entertainment has recently extended?
Alliance Entertainment has extended partnerships with Cineverse Corp and Tsuburaya Fields Media & Pictures Entertainment.
How has Alliance Entertainment performed in Record Store Day 2024?
Alliance Entertainment set new sales records during Record Store Day 2024, driven by high-profile releases from Taylor Swift and Pearl Jam.
What services does Alliance Entertainment provide to resellers and retailers?
Alliance Entertainment provides efficient processing and essential seller tools, significantly reducing administrative costs and assisting omni-channel retailers in expanding their product selection and fulfillment goals.
How has Alliance Entertainment focused on improving its financial health?
Alliance Entertainment has been focused on reducing inventory and debt significantly over the past year.
Where can I find more information about Alliance Entertainment?
More information can be found on their website at www.aent.com.
Alliance Entertainment Holding Corporation
Nasdaq:AENT
AENT Rankings
AENT Stock Data
262.33M
3.12M
93.83%
0.29%
0.11%
Entertainment
Wholesale-durable Goods, Nec
United States of America
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