BBTV Holdings Inc. - BBTVF STOCK NEWS

BBTV Holdings Inc. announced its acquisition of Outloud Media, a Detroit-based creator economy business, enhancing its Multi-Platform Partnership (MPP) solutions to drive revenue for content creators across platforms like Facebook and Snapchat. The acquisition is designed to generate higher margin revenue, with Outloud Media contributing approximately US$4M in revenues over the last year. The transaction is structured as a 5-year performance earn-out of up to US$5M, supporting BBTV's growth in the creator economy.

BBTV Holdings Inc. (TSX: BBTV) (OTCQX: BBTVF) has announced a strategic collaboration with RTL Group to enhance its balance sheet and attract new debt financing amid challenging economic conditions. As part of this initiative, BBTV's debt under its secured convertible promissory loan note was reduced by approximately $12.8 million, bringing the total debt to $19.2 million as of September 30, 2022. This modification aims to support growth initiatives like Plus Solutions, with debt conversion options remaining unchanged until maturity on May 26, 2026.

BBTV Holdings Inc. (OTCQX: BBTVF) has signed an agreement to offer its Content Management solutions to the Harlem Globetrotters. This partnership includes Rights Management, Channel Management, and Content Development across platforms like YouTube and Facebook. BBTV aims to leverage the Globetrotters' extensive content library, tapping into their global fanbase. With Content Management being a major growth area for BBTV, this collaboration is expected to enhance its market position and revenue streams in digital content optimization.

BBTV Holdings reported a 29% year-over-year revenue growth in its Plus Solutions segment for Q2 2022, with projected annual growth exceeding 40%. However, overall revenue decreased by 15% compared to Q2 2021, resulting in a net loss of $14.2 million, up from $4.3 million the previous year. Management anticipates monetization of YouTube Shorts could add approximately $90 million in revenue. Cost optimization measures, including a 14% headcount reduction, are expected to pave the way for profitability.

BBTV Holdings Inc. (TSX: BBTV; OTCQX: BBTVF) will release its second quarter 2022 financial results on August 10, 2022, after market close. A conference call, hosted by Shahrzad Rafati (Chairperson & CEO) and Ben Groot (CFO), will follow the results announcement at 2:15 PM PT (5:15 PM ET). Participants can dial in using specific access codes for the US, Canada, and international locations. An Investor Highlights presentation will be available to coincide with the call. BBTV is dedicated to enhancing content creator success through its innovative solutions.

BBTV Holdings Inc. (BBTVF) announced the successful outcomes of its annual general and special meeting held on June 30, 2022. Shareholders representing 82.18% of votes approved all proposals, including the election of six directors, with Shahrzad Rafati receiving 99.54% approval. PricewaterhouseCoopers was appointed as the company auditor until the next annual meeting. BBTV continues to operate as a global media and technology company, helping content creators enhance viewership and revenue, boasting over 600 million unique monthly viewers as of January 2022.

BBTV Holdings Inc. (BBTVF) has announced coverage for abortion travel costs for its U.S. employees following the U.S. Supreme Court's overturning of Roe v. Wade. This landmark decision places abortion rights at risk for over 52% of women of childbearing age in the U.S., prompting BBTV to emphasize its commitment to employee well-being and equality. CEO Shahrzad Rafati stated that the company aims to support its employees in accessing safe abortion care, urging other international businesses to adopt similar policies.

BBTV Holdings Inc. (OTCQX: BBTVF) has launched a cost optimization initiative resulting in a 14% workforce reduction. The company aims to refocus on high-margin revenue drivers like Content Management and Mobile Gaming Apps. CEO Shahrzad Rafati emphasized that these changes will lead to better results while CFO Ben Groot stated that the optimizations won't impair growth plans. Shareholders can expect to see positive impacts on performance beginning Q3 2022.

BBTV Holdings Inc. has reported strong momentum in Q2 2022, with Plus Solutions revenue growth exceeding 40% year-over-year in April. The company has raised revenue guidance and noted that Plus Solutions contributed 30-40% to Q1 gross profit. To enhance cash flow and expedite profitability, BBTV has initiated a cost optimization program aimed at maximizing resource allocation. CEO Shahrzad Rafati expressed confidence in achieving positive cash flow, supported by over $20 million in cash resources as of Q1. Shareholders can expect results from these initiatives by Q3 2022.