Genius Brands CEO Provides Letter to Shareholders; Announces Three-Fold Increase in Revenue for the First Quarter of 2021

Rhea-AI Summary

Genius Brands International (NASDAQ: GNUS) announced a strong performance with revenues for Q1 2021 reaching approximately $1.1 million, a remarkable 218% increase from last year’s $335,000. The growth included two months of revenue from their acquisition of ChizComm Ltd. and ChizComm Beacon Media. As of March 31, 2021, the company reported $143.6 million in cash with no long-term debt. Additionally, the animated series Stan Lee’s Superhero Kindergarten, featuring Arnold Schwarzenegger, surpassed 16 million views.

Positive

• Q1 2021 revenue increased by 218% to approximately $1.1 million.
• Strong cash position of $143.6 million with no long-term debt.
• Successful acquisition of ChizComm Ltd. contributing to revenue growth.
• Stan Lee’s Superhero Kindergarten surpassed 16 million views.

Negative

• Non-cash expense of $69.1 million due to new warrant grants.

“Stan Lee’s Superhero Kindergarten” Surpasses 16 Million Views on Kartoon Channel!

BEVERLY HILLS, Calif., May 18, 2021 (GLOBE NEWSWIRE) -- Genius Brands International, Inc. (“Genius Brands” or the “Company”) (NASDAQ: GNUS), a global brand management company that creates and licenses multimedia entertainment content for children, today posted a letter to shareholders from the Company’s Chairman & CEO, Andy Heyward, which is available in the blog section of the Company’s website.

The Company also reports it has filed its Form 10-Q for the period ending March 31, 2021, which is available on the Company’s website.   Revenues for the first quarter of 2021 were approximately $1.1 million compared to approximately $335,000 for the same period last year, reflecting a year over year increase of 218%. Results for the first quarter of 2021 included just 2 months of revenue from the acquisition of ChizComm Ltd. and ChizComm Beacon Media, which closed on Feb. 1st.   Genius Brands also reported $143.6 million of cash and cash equivalents and no long-term debt as of March 31, 2021. Contributing to the strong cash balance, the Company received $57 million from the exercise of warrants during the first quarter of 2021; however the company also recorded an offsetting non-cash expense of $69.1 million as a result of granting the new warrants.

Among other updates in the letter to shareholders, Mr. Heyward reported that Stan Lee’s Superhero Kindergarten starring Arnold Schwarzenegger has now surpassed 16 million views, exceeding an average of 3.2 million views per episode.

About Genius Brands International
Genius Brands International, Inc. (Nasdaq: GNUS) is a leading global kids media company developing, producing, marketing and licensing branded children’s entertainment properties and consumer products for media and retail distribution. The Company’s ‘content with a purpose’ portfolio includes Stan Lee’s Superhero Kindergarten, starring Arnold Schwarzenegger, on Kartoon Channel!; Shaq’s Garage, starring Shaquille O’Neal on Kartoon Channel!; Rainbow Rangers on Kartoon Channel! and Netflix; Llama Llama, starring Jennifer Garner, on Netflix; award-winning toddler brand Baby Genius; adventure comedy STEM series Thomas Edison's Secret Lab; and entrepreneurship series Warren Buffett's Secret Millionaires Club. Through licensing agreements with leading partners, characters from Genius Brands’ IP also appear on a wide range of consumer products for the worldwide retail marketplace. The Company’s Kartoon Channel! and Kartoon Classroom! are available in over 100 million U.S. television households via a broad range of distribution platforms, including Comcast, Cox, DISH, Sling TV, Amazon Prime, Amazon Fire, Apple TV, Apple iOS, Android TV, Android Mobil, Google Play, Xumo, Roku, Tubi, YouTube, KartoonChannel.com, Samsung Smart TVs and LG TVs. For additional information, please visit www.gnusbrands.com.

MEDIA CONTACT:
pr@gnusbrands.com

INVESTOR RELATIONS CONTACT:
ir@gnusbrands.com

FAQ

What were Genius Brands' revenues for Q1 2021?

Genius Brands reported approximately $1.1 million in revenues for Q1 2021, a 218% increase from the previous year.

How much cash does Genius Brands have as of March 31, 2021?

As of March 31, 2021, Genius Brands had $143.6 million in cash and cash equivalents.

What is the significance of Stan Lee's Superhero Kindergarten?

The animated series has surpassed 16 million views, averaging 3.2 million views per episode.

What complicated Genius Brands' financials in Q1 2021?

The company recorded a non-cash expense of $69.1 million related to granting new warrants.

Did Genius Brands incur any long-term debt by the end of Q1 2021?

No, Genius Brands reported no long-term debt as of March 31, 2021.