Everybody Loves Languages Reports Financial Results for the Third Quarter Ended September 30, 2024
Everybody Loves Languages Corp. (TSX-V: ELL; OTC: LMDCF) reported its Q3 2024 financial results. Revenue increased to $297,273 from $123,866 in Q3 2023. The company recorded a net loss of $215,757 ($0.01 per share), improved from a $282,532 loss in Q3 2023. Operating expenses rose to $496,213 from $443,975. For the nine-month period, revenue reached $1,438,538, up from $1,338,660, with a reduced net loss of $165,940 compared to $321,530 in 2023. The company expanded its content development, creating 2,200 Disney-inspired illustrations and enhancing its language learning programs.
Everybody Loves Languages Corp. (TSX-V: ELL; OTC: LMDCF) ha riportato i risultati finanziari del terzo trimestre 2024. I ricavi sono aumentati a $297,273 rispetto a $123,866 nel terzo trimestre 2023. L'azienda ha registrato una perdita netta di $215,757 ($0,01 per azione), in miglioramento rispetto a una perdita di $282,532 nel terzo trimestre 2023. Le spese operative sono aumentate a $496,213 rispetto a $443,975. Nel periodo di nove mesi, i ricavi hanno raggiunto $1,438,538, rispetto a $1,338,660, con una riduzione della perdita netta a $165,940 rispetto a $321,530 nel 2023. L'azienda ha ampliato lo sviluppo dei contenuti, creando 2.200 illustrazioni ispirate a Disney e migliorando i suoi programmi di apprendimento linguistico.
Everybody Loves Languages Corp. (TSX-V: ELL; OTC: LMDCF) informó sobre sus resultados financieros del tercer trimestre de 2024. Los ingresos aumentaron a $297,273 desde $123,866 en el tercer trimestre de 2023. La empresa registró una pérdida neta de $215,757 ($0.01 por acción), mejorando desde una pérdida de $282,532 en el tercer trimestre de 2023. Los gastos operativos aumentaron a $496,213 desde $443,975. Para el período de nueve meses, los ingresos alcanzaron $1,438,538, en comparación con $1,338,660, con una pérdida neta reducida de $165,940 en comparación con $321,530 en 2023. La empresa amplió su desarrollo de contenido, creando 2,200 ilustraciones inspiradas en Disney y mejorando sus programas de aprendizaje de idiomas.
Everybody Loves Languages Corp. (TSX-V: ELL; OTC: LMDCF)는 2024년 3분기 재무 결과를 발표했습니다. 수익은 2023년 3분기의 $123,866에서 $297,273으로 증가했습니다. 이 회사는 $215,757($0.01 주당 손실)의 순손실을 기록했으며, 이는 2023년 3분기의 $282,532 손실에서 개선된 결과입니다. 운영비는 $443,975에서 $496,213로 증가했습니다. 아홉 개월 동안 수익은 $1,438,538에 도달했으며, 2023년의 $1,338,660과 비교해 증가했고, 순손실은 $321,530에서 $165,940로 줄었습니다. 이 회사는 콘텐츠 개발을 확장하여 2,200개의 디즈니 영감을 받은 일러스트레이션을 만들고 언어 학습 프로그램을 강화했습니다.
Everybody Loves Languages Corp. (TSX-V: ELL; OTC: LMDCF) a annoncé ses résultats financiers pour le troisième trimestre 2024. Les revenus ont augmenté à $297,273 contre $123,866 au troisième trimestre 2023. L'entreprise a enregistré une perte nette de $215,757 ($0,01 par action), améliorée par rapport à une perte de $282,532 au troisième trimestre 2023. Les dépenses d'exploitation ont augmenté à $496,213 contre $443,975. Pour la période de neuf mois, les revenus ont atteint $1,438,538, contre $1,338,660, avec une perte nette réduite de $165,940 par rapport à $321,530 en 2023. L'entreprise a élargi son développement de contenu, créant 2 200 illustrations inspirées de Disney et améliorant ses programmes d'apprentissage des langues.
Everybody Loves Languages Corp. (TSX-V: ELL; OTC: LMDCF) hat seine finanziellen Ergebnisse für das dritte Quartal 2024 veröffentlicht. Der Umsatz stieg auf $297,273 von $123,866 im dritten Quartal 2023. Das Unternehmen verzeichnete einen Nettverlust von $215,757 ($0,01 pro Aktie), was eine Verbesserung gegenüber einem Verlust von $282,532 im dritten Quartal 2023 darstellt. Die Betriebskosten erhöhten sich auf $496,213 von $443,975. Im Zeitraum von neun Monaten betrug der Umsatz $1,438,538, ein Anstieg von $1,338,660, mit einem reduzierten Nettverlust von $165,940 im Vergleich zu $321,530 im Jahr 2023. Das Unternehmen hat seine Content-Entwicklung erweitert, indem es 2.200 Disney-inspirierte Illustrationen erstellt hat und seine Sprachlernprogramme verbessert hat.
- Revenue increased 140% YoY in Q3 2024 to $297,273
- Net loss improved by 23.6% to $215,757 in Q3 2024
- Nine-month revenue grew 7.5% to $1,438,538
- Nine-month net loss reduced by 48.4% to $165,940
- Operating expenses increased 11.8% to $496,213 in Q3 2024
- Company continues to operate at a loss
- Negative operating cash flow of $198,940 in Q3 2024
Q3 2024 Operational Highlights
-
Online English Language Learning:
-
ELL’s AcadeMe Junior program:
- Created 2200 new Disney inspired illustrations which were implemented in the content
- Developed 8 booklets with 400+ printable worksheets
-
English AcadeMe
- Delivered 240 new lessons
-
English for Success:
- Enhanced 600 lessons in the Portuguese world languages
-
Onboarded new distributors in
Colombia ,Peru , andUruguay
-
ELL’s AcadeMe Junior program:
-
Content-Based English Language Learning:
- Continued to develop content for the latest revision of the PEP books
-
Expanded sales in one additional province in
China
Q3 2024 Financial Highlights
Third Quarter Ended September 30th |
|
2024 |
|
2023 |
||
Revenue |
$ |
297,273 |
$ |
123,866 |
||
Operating and development expenses |
|
496,213 |
|
443,975 |
||
Loss before amortization, share-based payments, depreciation, finance charges and taxes |
|
(198,940) |
|
(320,109) |
||
Amortization, share-based payments, and depreciation |
|
5,636 |
|
27,486 |
||
Finance charges, taxes, foreign exchange |
|
11,182 |
|
(65,063) |
||
Net loss |
|
(215,757) |
|
(282,532) |
||
Total comprehensive loss |
|
(209,403) |
|
(291,606) |
||
Loss per share (Basic) |
$ |
(0.01) |
$ |
(0.01) |
-
Revenue for the third quarter ended September 30, 2024 totalled
$297,273 $123,866 -
Operating and development expenses for the quarter ended September 30, 2024 totaled
$496,213 $443.97 5$45,000 $53,393 -
Net loss for the quarter ended September 30, 2024 was
$(215,757) $(0.01) $(0.01) $(282,532) $(0.01) -
Loss before amortization, share-based payments, depreciation, finance charges and taxes was
$(198,940) $(320,109)
Financial Highlights for the Nine-Month Period Ended September 30, 2024
Nine Month Period Ended September 30th |
|
2024 |
|
2023 |
||
Revenue |
$ |
1,438,538 |
$ |
1,338,660 |
||
Operating and development expenses |
|
1,555,873 |
|
1,661,786 |
||
Income (Loss) before amortization, share-based payments, depreciation, finance charges and taxes |
|
(117,335) |
|
(323,126) |
||
Amortization, share-based payments and depreciation |
|
51,099 |
|
56,140 |
||
Finance charges, taxes and foreign exchange |
|
(2,494) |
|
(57,736) |
||
Net profit (loss) |
|
(165,940) |
|
(321,530) |
||
Total comprehensive income (loss) |
$ |
(176,912) |
$ |
(323,266) |
||
Earnings (Loss) per share (Basic and Diluted) |
$ |
(0.00) |
$ |
(0.01) |
-
Revenue for the nine-month period ended September 30, 2024 totalled
$1,438,538 $1,338,660 -
Operating and development expenses for the nine-month period ended September 30, 2024 totaled
$1,555,873 $1,661,786 -
Net loss for the nine-month period was
$(165,940) $(321,530) -
Loss before amortization, share-based payments, depreciation, finance charges and taxes was
$(117,335) $(323,126)
“We continuously refine our products, leveraging market feedback to drive meaningful enhancements. Currently, we're advancing development to optimize mobile accessibility, with completion targeted for the fourth quarter,” said Gali Bar-Ziv, President & CEO of Everybody Loves Languages.
The unaudited condensed interim financial statements for the quarter ended September 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: 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.sedar.com.
___________________________________________________________________________________________________
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/20241127927674/en/
For further information, contact:
Everybody Loves Languages
Corporate Communications
Khurram Qureshi
Tel: (647) 831-1462
Email: kqureshi@elltechnologies.com
Media Relations
Dwain Schenck
Tel: (203)-223-5230
Email: dwain@schenckstrategies.com
Source: Everybody Loves Languages Corp.
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