Everybody Loves Languages Reports Financial Results for the Second Quarter Ended June 30, 2024
Everybody Loves Languages Corp. (TSX-V: ELL; OTC: LMDCF) reported financial results for Q2 2024. Revenue increased to $991,288 from $967,747 in Q2 2023. Net profit was $350,278 ($0.01 EPS) compared to $383,837 in Q2 2023. The company saw improvements in its Online English Language Learning segment, launching new features and expanding distribution in South America and Korea.
For the six-month period, revenue was $1,141,265, down from $1,214,794 in 2023. However, the company turned a net profit of $49,817 compared to a loss of $38,998 in the same period last year. ELL continued to invest in product development, particularly for English AcadeMe and English AcadeMe Junior.
Everybody Loves Languages Corp. (TSX-V: ELL; OTC: LMDCF) ha riportato i risultati finanziari per il secondo trimestre del 2024. I ricavi sono aumentati a $991,288 rispetto ai $967,747 del Q2 2023. Il profitto netto è stato di $350,278 ($0.01 EPS) rispetto ai $383,837 del Q2 2023. L'azienda ha registrato miglioramenti nel suo segmento di apprendimento della lingua inglese online, lanciando nuove funzionalità e ampliando la distribuzione in Sud America e Corea.
Per il periodo di sei mesi, i ricavi sono stati di $1,141,265, in calo rispetto ai $1,214,794 del 2023. Tuttavia, l'azienda ha registrato un profitto netto di $49,817 rispetto a una perdita di $38,998 nello stesso periodo dell'anno scorso. ELL ha continuato a investire nello sviluppo del prodotto, in particolare per English AcadeMe e English AcadeMe Junior.
Everybody Loves Languages Corp. (TSX-V: ELL; OTC: LMDCF) reportó los resultados financieros del segundo trimestre de 2024. Los ingresos aumentaron a $991,288 desde $967,747 en el Q2 de 2023. La ganancia neta fue de $350,278 ($0.01 EPS) en comparación con los $383,837 del Q2 de 2023. La compañía vio mejoras en su segmento de aprendizaje de inglés en línea, lanzando nuevas funciones y expandiendo su distribución en América del Sur y Corea.
Para el período de seis meses, los ingresos fueron $1,141,265, una caída desde $1,214,794 en 2023. Sin embargo, la empresa logró una ganancia neta de $49,817 en comparación con una pérdida de $38,998 en el mismo período del año pasado. ELL continuó invirtiendo en el desarrollo de productos, particularmente en English AcadeMe y English AcadeMe Junior.
Everybody Loves Languages Corp. (TSX-V: ELL; OTC: LMDCF)는 2024년 2분기 재무 결과를 보고했습니다. 수익이 Q2 2023의 $967,747에서 $991,288로 증가했습니다. 순이익은 $350,278($0.01 EPS)로 Q2 2023의 $383,837에 비해 감소했습니다. 회사는 온라인 영어 학습 부문에서 개선을 보았으며, 새로운 기능을 출시하고 남미와 한국에서 배급을 확장했습니다.
6개월 기간 동안 수익은 $1,141,265로, 2023년의 $1,214,794에서 감소했습니다. 그러나 회사는 작년 같은 기간 $38,998의 손실에 비해 $49,817의 순이익을 기록했습니다. ELL은 특히 English AcadeMe와 English AcadeMe Junior의 제품 개발에 계속 투자했습니다.
Everybody Loves Languages Corp. (TSX-V: ELL; OTC: LMDCF) a annoncé ses résultats financiers pour le deuxième trimestre 2024. Le chiffre d'affaires a augmenté pour atteindre 991 288 $ contre 967 747 $ au Q2 2023. Le bénéfice net était de 350 278 $ (0,01 $ EPS) comparé à 383 837 $ au Q2 2023. L'entreprise a constaté des améliorations dans son segment d'apprentissage de l'anglais en ligne, avec le lancement de nouvelles fonctionnalités et l'expansion de sa distribution en Amérique du Sud et en Corée.
Pour la période de six mois, le chiffre d'affaires était de 1 141 265 $, en baisse par rapport à 1 214 794 $ en 2023. Cependant, l'entreprise a réalisé un bénéfice net de 49 817 $ comparé à une perte de 38 998 $ au cours de la même période l'année dernière. ELL a continué à investir dans le développement de produits, notamment pour English AcadeMe et English AcadeMe Junior.
Everybody Loves Languages Corp. (TSX-V: ELL; OTC: LMDCF) berichtete über die finanziellen Ergebnisse des 2. Quartals 2024. Der Umsatz stieg auf $991,288 von $967,747 im Q2 2023. Der Nettoertrag betrug $350,278 ($0.01 EPS) verglichen mit $383,837 im Q2 2023. Das Unternehmen verzeichnete Verbesserungen in seinem Online Englischsprachkurs-Segment, indem es neue Funktionen einführte und die Distribution in Südamerika und Korea ausweitete.
Für den Zeitraum von sechs Monaten betrug der Umsatz $1,141,265, ein Rückgang von $1,214,794 im Jahr 2023. Das Unternehmen erzielte jedoch einen Nettoertrag von $49,817 im Vergleich zu einem Verlust von $38,998 im gleichen Zeitraum des Vorjahres. ELL setzte seine Investitionen in die Produktentwicklung fort, insbesondere in English AcadeMe und English AcadeMe Junior.
- Revenue increased to $991,288 in Q2 2024 from $967,747 in Q2 2023
- Net profit of $350,278 in Q2 2024
- Income before amortization, share-based payments, depreciation, finance charges and taxes improved to $423,853 in Q2 2024 from $382,041 in Q2 2023
- Expanded distribution network to include new territories like Korea
- Turned a net profit of $49,817 for the six-month period in 2024 compared to a loss in 2023
- Net profit decreased to $350,278 in Q2 2024 from $383,837 in Q2 2023
- Revenue for the six-month period decreased to $1,141,265 in 2024 from $1,214,794 in 2023
- Product development investment decreased to $236,887 in 2024 from $331,873 in 2023 for the six-month period
Q2 2024 Operational Highlights
-
Online English Language Learning:
- Integrated new illustrations and images for AcadeMe Junior
- Developed new student and teacher reports for AcadeMe Junior
- Fully launched a mobile version for English for Success
- Initiated development of mobile version for the AcadeMe solutions
-
Added new distributors in
Peru ,Ecuador , andColombia -
Through its JV, Everybody Loves Languages Ltd. the Company entered into an exclusive distribution agreement for its portfolio of products in
Korea
-
Content-Based English Language Learning:
- Continued the development of additional supplementary material for the PEP books
Q2 2024 Financial Highlights
Second Quarter Ended June 30st |
|
2024 |
|
2023 |
||
Revenue |
$ |
991,288 |
$ |
967,747 |
||
Operating and development expenses |
|
567,435 |
|
585,706 |
||
Income before amortization, share-based payments, depreciation, finance charges and taxes |
|
423,853 |
|
382,041 |
||
Amortization, share-based payments, and depreciation |
|
31,055 |
|
14,232 |
||
Finance charges, taxes, foreign exchange |
|
42,520 |
|
(16,028) |
||
Net profit |
|
350,278 |
|
383,837 |
||
Total comprehensive income |
$ |
344,818 |
$ |
390,668 |
||
Earnings per share |
$ |
0.01 |
$ |
0.01 |
-
Revenue for the second quarter ended June 30, 2024, totaled
$991,288 $967,747 -
Operating and development expenses for the quarter ended June 30, 2024, totaled
$567,435 $585,706 $57,274 $52,685 $142,381 $187,278 -
Net profit for the quarter ended June 30, 2024, was
$350,278 $0.01 $0.01 $383,837 $0.01 $0.01 -
Income before amortization, share-based payments, depreciation, finance charges and taxes was
$423,853 $382,041
Financial Highlights for the Six-Month Period Ended June 30, 2024
Six Month Period Ended June 30 |
|
2024 |
|
2023 |
||
Revenue |
$ |
1,141,265 |
$ |
1,214,794 |
||
Operating and development expenses |
|
1,059,660 |
|
1,217,811 |
||
Income (loss) before amortization, share-based payments, depreciation, finance charges and taxes |
|
81,605 |
|
(3,017) |
||
Amortization, share-based payments and depreciation |
|
45,463 |
|
28,654 |
||
Finance charges, taxes and foreign exchange |
|
(13,675) |
|
7,327 |
||
Net profit (loss) |
|
49,817 |
|
(38,998) |
||
Total comprehensive income (loss) |
$ |
32,491 |
$ |
(31,660) |
||
Earnings (Loss) per share |
$ |
0.00 |
$ |
(0.00) |
-
Revenue for the six-month period ended June 30, 2024, totaled
$1,141,265 $1,214,794 -
Operating and development expenses for the six-month period ended June 30, 2024, totaled
$1,059,660 $1,217,811 $109,205 $104,481 $236,887 $331,873 -
Net profit for the six-month period was
$49,817 $(38,998) -
Income before amortization, share-based payments, depreciation, finance charges and taxes was 81,605, as compared to a loss of
$(3,017)
“We continue to focus on expanding our distribution network and adding new territories, such as
The unaudited condensed interim financial statements for the quarter ended June 30, 2024, and Management Discussion & Analysis are available at www.sedarplus.ca.
About Everybody Loves Languages Corp. (TSX-V: ELL; OTC: LMDCF; FSE:
Everybody Loves Languages Corp. is an edtech language-learning and content development company empowering language educators to easily transition from traditional teaching methods to digital learning by integrating education, edutainment, and technology.
The Company provides online and print-based solutions through two distinct business units: Everybody Loves Languages Inc. and Lingo Learning Inc. Everybody Loves Languages is a state-of-the-art technology platform that delivers personalized learning experiences in classrooms and online. Its programs provide innovative SaaS-based eLearning solutions, including online and offline content, a learning management system, assessments, real-time reports, speech recognition technology, and white-label tools. At the same time, Lingo Learning is the content development arm and co-publishes print-based English language learning materials in
Everybody Loves Languages has established successful relationships with key government and industry organizations internationally, with a presence in LATAM and
Follow Everybody Loves Languages on social media:
Facebook: https://www.facebook.com/everybodyloveslanguages
Twitter: @elltechnologies
YouTube: Everybody Loves Languages (ELL)
LinkedIn: https://www.linkedin.com/company/elltechnologies
Portions of this press release may include "forward-looking statements" within the meaning of securities laws. These statements involve known and unknown risks, uncertainties or other factors that could cause actual results to differ materially from the results, performance, or expectations implied by these forward-looking statements. These statements are based on management's current expectations and involve certain risks and uncertainties. Actual results may vary materially from management's expectations and projections and thus readers should not place undue reliance on forward-looking statements. Everybody Loves Languages has tried to identify these forward-looking statements by using words such as "may," "should," "expect," "hope," "anticipate," "believe," "intend," "plan," "estimate" and similar expressions. Everybody Loves Languages’ expectations depend upon general economic conditions, the continued and growth in demand for its products, retention of its key management and operating personnel, its need for and availability of additional capital and other uncontrollable or unknown factors. No assurance can be given that the actual results will follow the forward-looking statements. Except as otherwise required by securities laws, Everybody Loves Languages undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, changed circumstances or any other reason. Certain factors that can affect the Company's ability to achieve projected results are described in the Company's filings with the Canadian securities regulators available on www.sedarplus.ca.
___________________________________________________________________________________________________
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
View source version on businesswire.com: https://www.businesswire.com/news/home/20240828312720/en/
Corporate Communications
Khurram Qureshi
Tel: (647) 831-1462
Email: kqureshi@elltechnologies.com
Source: Everybody Loves Languages Corp.
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