Tiny Ltd. Announces Corporate Updates, Including Board Appointment, Operational Highlights, and Financial Update
Tiny (TSXV: TINY) announced several corporate updates on January 27, 2025. The company appointed Alex Conconi, founder of Conconi Growth Partners, to its Board of Directors. Operational highlights include Metalab's AI development work with Suno, Dribbble's launch of Services and Projects platform, and KnoCommerce's success during Black Friday with over 15 million customer questions answered. Letterboxd achieved 74% member growth since acquisition, reaching 17 million total members.
The company completed the sale of two operating companies (8020 Design and Frosty Studio ) through management buyout. While this affects consolidated revenue, profitability metrics are expected to improve as sale proceeds were used for debt repayment. The company voluntarily repaid US$4.54M of principal in Q4 2024, with total debt repayment reaching US$9.34M in Q3 and Q4 combined. Additionally, Tiny Fund I completed the sale of MediMap Systems Inc.
Tiny (TSXV: TINY) ha annunciato diversi aggiornamenti aziendali il 27 gennaio 2025. L'azienda ha nominato Alex Conconi, fondatore di Conconi Growth Partners, nel suo Consiglio di Amministrazione. I punti salienti operativi includono il lavoro di sviluppo AI di Metalab con Suno, il lancio da parte di Dribbble della piattaforma Servizi e Progetti, e il successo di KnoCommerce durante il Black Friday con oltre 15 milioni di domande dei clienti risposta. Letterboxd ha registrato una crescita del 74% dei membri da quando è stata acquisita, raggiungendo un totale di 17 milioni di membri.
L'azienda ha completato la vendita di due società operative (8020 Design e Frosty Studio) tramite un'operazione di management buyout. Sebbene questo impatti sul fatturato consolidato, si prevede che i parametri di redditività miglioreranno poiché i proventi della vendita sono stati utilizzati per il rimborso del debito. L'azienda ha rimborsato volontariamente 4,54 milioni di dollari US di capitale nel quarto trimestre del 2024, con un rimborso totale del debito che ha raggiunto 9,34 milioni di dollari US nel terzo e quarto trimestre combinati. Inoltre, Tiny Fund I ha completato la vendita di MediMap Systems Inc.
Tiny (TSXV: TINY) anunció varias actualizaciones corporativas el 27 de enero de 2025. La compañía nombró a Alex Conconi, fundador de Conconi Growth Partners, en su Junta Directiva. Los aspectos destacados operativos incluyen el trabajo de desarrollo de IA de Metalab con Suno, el lanzamiento por parte de Dribbble de la plataforma de Servicios y Proyectos, y el éxito de KnoCommerce durante el Black Friday, con más de 15 millones de preguntas de clientes respondidas. Letterboxd logró un crecimiento del 74% en miembros desde su adquisición, alcanzando un total de 17 millones de miembros.
La compañía completó la venta de dos empresas operativas (8020 Design y Frosty Studio) a través de una compra de gestión. Si bien esto afecta los ingresos consolidados, se espera que los indicadores de rentabilidad mejoren ya que los ingresos de la venta se utilizaron para el pago de deudas. La compañía pagó voluntariamente 4.54 millones de dólares estadounidenses de capital en el cuarto trimestre de 2024, con un pago total de deuda que alcanzó los 9.34 millones de dólares estadounidenses en el tercer y cuarto trimestre combinados. Además, Tiny Fund I completó la venta de MediMap Systems Inc.
Tiny (TSXV: TINY)는 2025년 1월 27일 여러 기업 업데이트를 발표했습니다. 이 회사는 Conconi Growth Partners의 창립자인 Alex Conconi를 이사회에 임명했습니다. 운영 하이라이트로는 Metalab이 Suno와 함께 진행한 AI 개발 작업, Dribbble의 서비스 및 프로젝트 플랫폼 출시, 그리고 KnoCommerce가 블랙 프라이데이에 1500만 건 이상의 고객 문의에 답변한 성공이 포함됩니다. Letterboxd는 인수 이후 회원 수가 74% 증가하여 총 1700만 명의 회원에 도달했습니다.
회사는 관리 매수를 통해 두 개의 운영회사를 (8020 Design 및 Frosty Studio) 매각하는 작업을 완료했습니다. 비록 이것이 연결 수익에 영향을 미치겠지만, 매각 수익이 부채 상환에 사용되었으므로 수익성 지표는 개선될 것으로 예상됩니다. 회사는 2024년 4분기에 454만 달러의 원금을 자발적으로 상환했으며, 3분기와 4분기를 합쳐 총 934만 달러의 부채 상환을 달성했습니다. 또한, Tiny Fund I은 MediMap Systems Inc.의 매각을 완료했습니다.
Tiny (TSXV: TINY) a annoncé plusieurs mises à jour d'entreprise le 27 janvier 2025. La société a nommé Alex Conconi, fondateur de Conconi Growth Partners, à son Conseil d'Administration. Les points saillants opérationnels incluent le travail de développement en IA de Metalab avec Suno, le lancement par Dribbble de la plateforme Services et Projets, et le succès de KnoCommerce lors du Black Friday avec plus de 15 millions de questions de clients répondues. Letterboxd a enregistré une croissance de 74 % de ses membres depuis son acquisition, atteignant un total de 17 millions de membres.
La société a complété la vente de deux entreprises opérationnelles (8020 Design et Frosty Studio) par le biais d'un rachat par la direction. Bien que cela affecte le chiffre d'affaires consolidé, les indicateurs de rentabilité devraient s'améliorer car les produits de la vente ont été utilisés pour le remboursement de la dette. L'entreprise a remboursé volontairement 4,54 millions de dollars US de capital au quatrième trimestre 2024, avec un remboursement total de la dette atteignant 9,34 millions de dollars US au cours des troisième et quatrième trimestres combinés. De plus, Tiny Fund I a finalisé la vente de MediMap Systems Inc.
Tiny (TSXV: TINY) gab am 27. Januar 2025 mehrere Unternehmensaktualisierungen bekannt. Das Unternehmen ernannte Alex Conconi, Gründer von Conconi Growth Partners, in seinen Vorstand. Zu den operativen Höhepunkten gehören die KI-Entwicklungsarbeiten von Metalab mit Suno, der Start der Plattform für Dienstleistungen und Projekte durch Dribbble und der Erfolg von KnoCommerce während des Black Friday, bei dem über 15 Millionen Kundenanfragen beantwortet wurden. Letterboxd verzeichnete seit der Übernahme ein Mitgliedswachstum von 74% und erreichte insgesamt 17 Millionen Mitglieder.
Das Unternehmen schloss den Verkauf von zwei operativen Unternehmen (8020 Design und Frosty Studio) im Rahmen eines Management-Buyouts ab. Obwohl dies die konsolidierten Einnahmen beeinflusst, wird erwartet, dass sich die Rentabilitätskennzahlen verbessern, da die Erlöse aus dem Verkauf zur Schuldenrückzahlung verwendet wurden. Das Unternehmen hat im vierten Quartal 2024 freiwillig 4,54 Millionen US-Dollar an Kapital zurückgezahlt, wobei die Gesamtrückzahlung der Schulden in den dritten und vierten Quartalen zusammen 9,34 Millionen US-Dollar betrug. Darüber hinaus hat der Tiny Fund I den Verkauf von MediMap Systems Inc. abgeschlossen.
- Letterboxd achieved 74% member growth since September 2023 acquisition
- Voluntary debt repayment of US$9.34M in Q3 and Q4 2024 combined
- Sale proceeds from divested companies used to reduce debt
- KnoCommerce platform processed over 15 million customer queries during Black Friday/Cyber Monday
- Consolidated revenue expected to decrease due to sale of operating companies
Victoria, British Columbia--(Newsfile Corp. - January 27, 2025) - Tiny Ltd. (TSXV: TINY) ("Tiny" or the "Company"), a technology holding company with a strategy of acquiring majority stakes in businesses, today announced a number of corporate updates.
BOARD APPOINTMENT:
Tiny is pleased to announce the appointment of Alex Conconi to its Board of Directors ("the Board"). With a remarkable track record in entrepreneurship, investment, and leadership, Alex brings invaluable experience and expertise to the Board. Alex Conconi is the Founder of Conconi Growth Partners, a private investment company based in Vancouver. He is also the Founder of Neighbourhood Holdings, a Canadian mortgage lender, and Lendesk Technologies, a mortgage technology company acquired by Rocket Mortgage. Alex thrives in the entrepreneurial space, and through CGP he has invested in over 70 North American start-ups. He holds an MSc in Finance, and a BSc in Economics (Distinction).
"We're delighted to welcome Alex to our board," said Andrew Wilkinson, Chair of the Board. "He brings exactly what we look for - a track record of spotting value and building great businesses. I expect our shareholders will benefit from his insights for years to come."
OPERATIONAL HIGHLIGHTS:
- Metalab deepened its AI capabilities through its work with Suno, spearheading development of a mobile app for the innovative AI music generation platform.
- Dribbble launched Services and Projects, allowing designers and clients to contract and transact directly on the Dribbble platform, furthering the Dribbble mission to help professional designers earn a living doing meaningful creative work.
- Clients using the KnoCommerce platform over the Black Friday/Cyber Monday shopping period saw over 15 million questions answered by customers, empowering brands to understand their attribution and drive stronger ROI from their marketing efforts.
- Letterboxd continued its impressive growth trajectory, exceeding 17 million total members (up
74% since acquisition in September 2023).
FINANCIAL UPDATE:
Tiny completed the sale of two operating companies under the Beam segment via management buyout: 8020 Design Ltd. and Frosty Studio Ltd. While the dispositions will have some impact on consolidated revenue, key profitability and credit metrics will remain and improve as proceeds from the asset sales were used to repay debt at the Beam Digital Ltd. group level. These dispositions are representative of management's ongoing strategy to focus on growing both revenue and cash flow in its core operating businesses.
The Company also continues to prioritize balance sheet management, including the voluntary repayment of US
Tiny Fund I has completed the sale of MediMap Systems Inc., following a marketed process. The sale closed in January and will not have a material impact on the carrying value of Tiny Fund I.
About Tiny
Tiny acquires businesses using a founder-friendly approach, while focusing on valuation, recurring revenues, and free cash flow potential. The Company expects to hold businesses for the long-term, with a parent-level focus on capital allocation, collaborative management and operations, and incentive structures within the operating companies to drive results for Tiny and its shareholders.
Tiny currently has three principle reporting segments: Digital Services, which help some of the world's top companies design, build and ship amazing products and services; Software and Apps, which is home to leading applications and themes powering forward-thinking merchants worldwide, primarily in the Shopify ecosystem; and Creative Platform, which is composed primarily of Dribbble, the social network for designers and digital creatives, as well as Creative Market, a premier online marketplace for digital assets such as fonts, graphics and templates.
For more about Tiny, please visit www.tiny.com or refer to the public disclosure documents available under Tiny's profile on SEDAR+ at www.sedarplus.ca.
Tiny Ltd. Contact:
Mike McKenna
Chief Financial Officer
Phone: 416-938-0574
Email: mike@tiny.com
Cautionary Note Regarding Forward-Looking Information
This news release contains certain forward-looking statements and forward-looking information within the meaning of Canadian securities law. Such forward-looking statements and information include, but are not limited to, statements or information with respect to the Company's strategies, objectives and financial plans. Forward-looking statements and information are frequently characterized by words such as "plan", "project", "intend", "believe", "anticipate", "estimate", "expect" and other similar words, or statements that certain events or conditions "may" or "will" occur. Although the Company's management believes that the assumptions made and the expectations represented by such statement or information are reasonable, there can be no assurance that a forward-looking statement or information referenced herein will prove to be accurate. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include risks relating to reliance on the Shopify platform; competitive markets; uncertainty and adverse changes in the economy; regulatory risks; risks related to legal claims; and risks related to information technology. The Company undertakes no obligation to update forward-looking statements and information if circumstances or management's estimates should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements and information. More detailed information about potential factors that could affect results is included in the documents that may be filed from time to time with the Canadian securities regulatory authorities by the Company.
For a more detailed discussion of certain of these risk factors, see the list of risk factors in the Company's MD&A dated November 14, 2024 and the management information circular dated May 13, 2024 available on SEDAR+ at www.sedarplus.ca under the Company's profile.
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.
SOURCE: TINY LTD.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/238499
FAQ
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