Yangaroo Announces Q3'2024 Financial Results
Yangaroo Inc (TSXV: YOO, OTC: YOOIF) reported Q3 2024 financial results showing a 12% revenue increase to $1.94M compared to Q3 2023. Operating income rose to $348,983, while normalized EBITDA reached $466,458. The Advertising Division saw 27% growth, driven by the Millenia3 acquisition, while Music and Awards divisions experienced slight declines. Operating expenses decreased by 7% to $1.59M through strategic cost reductions. The company maintained positive operating cash flow of $982,838 for the first nine months of 2024 and achieved its ninth consecutive quarter of positive normalized EBITDA.
Yangaroo Inc (TSXV: YOO, OTC: YOOIF) ha riportato i risultati finanziari del terzo trimestre 2024, evidenziando un aumento del fatturato del 12% a $1,94 milioni rispetto al terzo trimestre 2023. L'utile operativo è aumentato a $348.983, mentre l'EBITDA normalizzato ha raggiunto $466.458. La divisione Pubblicità ha registrato una crescita del 27%, sostenuta dall'acquisizione di Millenia3, mentre le divisioni Musica e Premi hanno subito lievi cali. Le spese operative sono diminuite del 7% a $1,59 milioni grazie a riduzioni strategiche dei costi. L'azienda ha mantenuto un flusso di cassa operativo positivo di $982.838 nei primi nove mesi del 2024, conseguendo il nono trimestre consecutivo di EBITDA normalizzato positivo.
Yangaroo Inc (TSXV: YOO, OTC: YOOIF) informó los resultados financieros del tercer trimestre de 2024, mostrando un aumento del 12% en los ingresos a $1,94 millones en comparación con el tercer trimestre de 2023. El ingreso operativo aumentó a $348,983, mientras que el EBITDA normalizado alcanzó $466,458. La División de Publicidad vio un crecimiento del 27%, impulsado por la adquisición de Millenia3, mientras que las divisiones de Música y Premios experimentaron ligeras disminuciones. Los gastos operativos disminuyeron un 7% a $1,59 millones a través de reducciones estratégicas de costos. La empresa mantuvo un flujo de efectivo operativo positivo de $982,838 durante los primeros nueve meses de 2024 y logró su noveno trimestre consecutivo de EBITDA normalizado positivo.
Yangaroo Inc (TSXV: YOO, OTC: YOOIF)은 2024년 3분기 재무 결과를 보고하며 수익이 12% 증가한 194만 달러를 기록했습니다. 운영 소득은 348,983달러로 증가하였고, 정상화된 EBITDA는 466,458달러에 도달했습니다. 광고 부문은 Millenia3 인수에 힘입어 27% 성장했으며, 음악 및 시상 부문은 약간의 감소를 경험했습니다. 운영 비용은 전략적인 비용 절감을 통해 159만 달러로 7% 감소했습니다. 회사는 2024년 첫 아홉 개 월 동안 982,838달러의 긍정적인 운영 현금 흐름을 유지했으며, 아홉 번째 연속 분기 동안 긍정적인 정상화된 EBITDA를 달성했습니다.
Yangaroo Inc (TSXV: YOO, OTC: YOOIF) a rapporté les résultats financiers du troisième trimestre 2024, montrant une augmentation des revenus de 12% à 1,94 million de dollars par rapport au troisième trimestre 2023. Le revenu d'exploitation a augmenté à 348,983 dollars, tandis que l'EBITDA normalisé a atteint 466,458 dollars. La division Publicité a connu une croissance de 27 %, soutenue par l'acquisition de Millenia3, tandis que les divisions Musique et Récompenses ont subi de légers déclins. Les dépenses opérationnelles ont diminué de 7 % à 1,59 million de dollars grâce à des réductions stratégiques de coûts. L'entreprise a maintenu un flux de trésorerie opérationnel positif de 982,838 dollars pour les neuf premiers mois de 2024 et a réalisé son neuvième trimestre consécutif d'EBITDA normalisé positif.
Yangaroo Inc (TSXV: YOO, OTC: YOOIF) hat die Finanzzahlen für das dritte Quartal 2024 veröffentlicht und dabei einen Umsatzanstieg von 12% auf 1,94 Millionen USD im Vergleich zum dritten Quartal 2023 festgestellt. Das Betriebsergebnis stieg auf 348.983 USD, während das normalisierte EBITDA 466.458 USD erreichte. Die Werbeabteilung verzeichnete ein Wachstum von 27%, bedingt durch die Akquisition von Millenia3, während die Musik- und Preisabteilungen leichte Rückgänge erfuhren. Die Betriebskosten sanken durch strategische Kostensenkungen um 7% auf 1,59 Millionen USD. Das Unternehmen hielt einen positiven operativen Cashflow von 982.838 USD in den ersten neun Monaten 2024 aufrecht und erreichte das neunte aufeinanderfolgende Quartal mit positivem normalisierten EBITDA.
- Revenue increased 12% YoY to $1.94M in Q3 2024
- Operating income improved by $319,512 YoY
- Normalized EBITDA grew 75% YoY to $466,458
- Advertising revenue increased 27% driven by Millenia3 acquisition
- Operating expenses reduced by 7% through strategic cost cuts
- Positive operating cash flow of $982,838 in first nine months
- Working capital deficiency of $1.79M as of Q3 2024
- Music Division revenue declined YoY
- Awards Division revenue decreased due to show cancellation
- Cash position decreased to $105,906 from $255,002 YoY
Ninth Consecutive Quarterly Positive Normalized EBITDA
Toronto, Ontario--(Newsfile Corp. - November 28, 2024) - YANGAROO Inc. (TSXV: YOO) (OTC Pink: YOOIF) ("Yangaroo", "Company"), a software leader in media asset workflow and distribution solutions, today announced its financial results for the third quarter ended September 30, 2024. The third quarter financial statements and corresponding management's discussion and analysis (the "Third Quarter Filings") are available at www.yangaroo.com and at www.sedarplus.ca. Please note that all currency in this press release is denominated in United States dollars, unless otherwise noted.
The third quarter of 2024 demonstrated significant progress for the company. Adjusted for seasonality, both sales volume and revenue climbed
In the three months ended September 30, 2024, operating income soared to
The Advertising Division sustained steady delivery volumes and sales per customer, bolstered by growth from new advertiser delivery accounts and incremental revenue driven by the Millenia3 acquisition. Meanwhile, the Music Division experienced a slight year-over-year revenue decline. Similarly, the Awards Division saw a modest dip in revenue due a client cancelling one of their three shows this year. However, the Awards Division has secured two new contracts set to be completed later this year.
Grant Schuetrumpf, CEO of Yangaroo, commented, "The third quarter of 2024 reflects the strength and resilience of our business as we continue to navigate a challenging environment. Our consistent performance across divisions, coupled with strategic investments and cost discipline, has driven notable improvements in profitability and cash flow. The Advertising Division delivered strong results, fueled by growth from new accounts and synergies from the Millenia3 acquisition. The Music Division, although audio track promotions remained steady, faced headwinds by a decline in music video delivery orders. The Awards Division remains stable, with two new Awards Show's being added to its recurring roster of clients.
"As we move forward, our focus remains on continuing our software development investment, optimizing operations, enhancing customer value, and executing on our growth strategies to deliver sustainable long-term success for our stakeholders."
Q3'2024 Financial Highlights
- Revenue in Q3'2024 was
$1,942,525 compared to$1,739,056 in the third quarter of 2023.- Q3'2024 revenue increased by
$203,469 or12% versus Q3'2023. The increase in revenue was primarily due to higher Advertising revenue with an increase of$281,895 or27% , offset by lower entertainment revenue with a decrease of$78,426 or11% . The increase in Advertising revenue is due to business growth from Millenia3 acquisition and the decrease in entertainment revenue is due to lower revenue from Music and Award.
- Q3'2024 revenue increased by
- Operating expenses in Q3'2024 were
$1,593,542 compared$1,709,585 t he third quarter of 2023, respectively.- Q3'2024 operating expenses decreased by
$116,043 or7% versus Q3'2023. The decrease in operating expenses is primarily attributed to lower headcount and depreciation expenses, offset by higher general & administrative and technology expenses.
- Q3'2024 operating expenses decreased by
- Normalized EBITDA in Q3'2024 was
$466,458 in comparison to normalized EBITDA of$266,181 in the third quarter of 2023.- Q3'2024 normalized EBITDA increased by
$200,277 or75% compared to Q3'2023. The increase is primarily attributed to higher Advertising revenue and lower headcount expenses, offset by lower entertainment revenue and higher general & administrative and technology expenses.
- Q3'2024 normalized EBITDA increased by
First Nine-Month of 2024 Financial Highlights
- Revenue in the first nine months of 2024 was
$5,814,845 compared to$5,756,714 in the first nine months of 2023.- Revenue slightly increased by
$58,131 or1% in the first nine months of 2024, compared to the same period of 2023. The increase in revenue is primarily attributed to higher Advertising revenue by$210,659 or5% , offset by decreased Music and Award revenue by$43,010 or5% and$109,518 or14% , respectively.
- Revenue slightly increased by
- Operating expenses in the first nine months of 2024 were
$5,337,789 compared to$5,699,440 in the first nine months of 2023, respectively.- Operating expenses decreased by
$361,651 or6% in the first nine months of 2024, compared to the same period of 2023. The decrease in operating expenses is primarily attributed to lower headcount and depreciation expenses, offset by higher marketing, general & administrative and technology expenses.
- Operating expenses decreased by
- Normalized EBITDA in the first nine months of 2024 was
$1,041,856 in comparison to normalized EBITDA of$924,513 in the first nine months of 2023.- Normalized EBITDA increased by
$117,343 or13% in the first nine months of 2024, compared to the same period of 2023. The increase is primarily attributed to higher Advertising revenue and lower headcount expenses, offset by lower entertainment revenue and higher general & administrative and technology expenses.
- Normalized EBITDA increased by
- The Company generated positive operating cash flow of
$982,838 in the first nine months of 2024 versus operating cash flow of$996,973 in the same period of 2023, and reduced term loan principal by$363,688 in the first nine months of 2024 versus a repayment of$108,432 in the same period of 2023.
Financial Highlights
| Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | ||||||||||
| Cash | $ | 105,906 | $ | 86,118 | $ | 207,998 | $ | 150,928 | |||||
| Working capital (deficiency) | ( | ) | ( | ) | ( | ) | ( | ) | |||||
| Liquidity | $ | 550,386 | $ | 378,358 | $ | 521,092 | $ | 623,506 | |||||
| Revenue | $ | 1,942,525 | $ | 1,949,689 | $ | 1,922,631 | $ | 2,128,768 | |||||
| Operating expenses | $ | 1,593,542 | $ | 1,838,985 | $ | 1,905,259 | $ | 2,172,208 | |||||
| Other expenses (income) | $ | 179,406 | $ | 118,863 | ( | ) | $ | 3,756,134 | |||||
| Income (loss) for the period | $ | 169,577 | ( | ) | $ | 15,565 | ( | ) | |||||
| Income (loss) per share - basic | $ | 0.00 | ( | ) | $ | 0.00 | ( | ) | |||||
| Income (loss) per share - diluted | $ | 0.00 | ( | ) | $ | 0.00 | ( | ) | |||||
| EBITDA | $ | 374,900 | $ | 307,723 | $ | 356,704 | ( | ) | |||||
| EBITDA Margin % | ( | ||||||||||||
| Normalized EBITDA (loss) * | $ | 466,458 | $ | 337,815 | $ | 237,583 | $ | 211,061 | |||||
| Normalized EBITDA Margin % * |
* A non-IFRS measure. See "Non-IFRS financial measures" for definitions and reconciliation non-IFRS measures to the relevant IFRS measures
| Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | ||||||||||
| Cash | $ | 255,002 | $ | 284,178 | $ | 204,604 | $ | 296,748 | |||||
| Working capital | ( | ) | ( | ) | ( | ) | $ | 217,710 | |||||
| Liquidity | $ | 975,794 | $ | 552,960 | $ | 781,378 | $ | 737,680 | |||||
| Revenue | $ | 1,739,056 | $ | 2,172,493 | $ | 1,845,165 | $ | 2,097,353 | |||||
| Operating expenses | $ | 1,709,585 | $ | 2,103,819 | $ | 2,099,975 | $ | 1,426,921 | |||||
| Other expenses (income) | $ | 50,215 | $ | 229,689 | $ | 110,528 | $ | 148,124 | |||||
| Income (loss) for the period | ( | ) | $ | 37,174 | ( | ) | $ | 522,308 | |||||
| Income (loss) per share - basic | ( | ) | $ | 0.00 | ( | ) | $ | 0.01 | |||||
| Income (loss) per share - diluted | ( | ) | $ | 0.00 | ( | ) | $ | 0.01 | |||||
| EBITDA | $ | 322,492 | $ | 385,449 | ( | ) | $ | 816,075 | |||||
| EBITDA Margin % | ( | ||||||||||||
| Normalized EBITDA (loss) * | $ | 266,181 | $ | 542,129 | $ | 116,203 | $ | 833,974 | |||||
| Normalized EBITDA Margin % * |
* A non-IFRS measure. See "Non-IFRS financial measures" for definitions and reconciliation non-IFRS measures to the relevant IFRS measures
About YANGAROO
Yangaroo is a technology provider in the media and entertainment industry, offering a cloud-based software platform for the management and distribution of digital media content. Yangaroo's Digital Media Distribution System ("DMDS") platform is a patented cloud-based platform that provides customers with a centralised and fully integrated workflow directly connecting radio and television broadcasters, digital display networks, and video publishers for centralised digital asset management, delivery and promotion. DMDS is used across the advertising, music, and entertainment awards show markets.
YANGAROO Inc. is a publicly listed company incorporated on July 28, 1999 under the laws of Ontario as Musicrypt.com Inc. and changed to its present name on July 17, 2007. YANGAROO trades on the TSX Venture Exchange ("TSX-V") under the symbol YOO and in the U.S. under OTCPK: YOOIF.
The address of the Company's corporate office and principal place of business is 360 Dufferin Street, Suite 203, Toronto, Ontario, M6K 3G1.
# # #
For YANGAROO Investor Inquiries:
Grant Schuetrumpf
Ph: (416) 534 0607
investors@yangaroo.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 accuracy of this release.
Use of Non-IFRS Financial Measures
The following non-IFRS definitions are used in the press release because management believes that they provide useful information regarding the Company's ongoing operations. Readers are cautioned that the definitions are not recognized measures under IFRS, do not have standardized meanings prescribed by IFRS, and should not be construed to be alternatives to revenues and net earnings determined in accordance with IFRS or as an indicator of performance, liquidity or cash flows. The Company's method of calculating these measures may differ from the methods used by other entities and accordingly, these measures may not be comparable to similarly titled measures used by other entities or in other jurisdictions.
EBITDA as defined by the Company means Earnings Before Interest and financing costs (net of interest income), Income Taxes, Depreciation and Amortization. EBITDA is derived from the statements of comprehensive income (loss) and can be computed as revenues less salaries and consulting expenses and property, technology, marketing, administration expenses and any non-recurring items.
Normalized EBITDA as defined by the Company means EBTIDA adjusted for one-time non-recurring items or non-cash item such as stock-based compensation expenses, foreign-exchange expenses, and gain on revaluation of contingent consideration.
EBITDA Margin and Normalized EBITDA Margin as defined by the Company means EBITDA and Normalized EBITDA, respectively, as a percentage of revenue.
Working capital as defined by the Company means current assets less current liabilities.
Liquidity as defined by the Company means cash plus available capacity in the Company's revolving credit facility.
The Company believes EBITDA, EBITDA margin, liquidity, and working capital, are useful measures because they provide information to both management and investors with respect to the operating and financial performance of the Company.
Cautionary Note Regarding Forward-looking Statements
This news release contains certain forward-looking statements and forward-looking information (collectively referred to herein as "forward-looking statements") within the meaning of applicable Canadian securities laws. All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "achieve", "could", "believe", "plan", "intend", "objective", "continuous", "ongoing", "estimate", "outlook", "expect", "may", "will", "project", "should" or similar words, including negatives thereof, suggesting future outcomes.
Forward looking statements are subject to both known and unknown risks, uncertainties and other factors, many of which are beyond the control of YANGAROO, that may cause the actual results, level of activity, performance or achievements of YANGAROO to be materially different from those expressed or implied by such forward looking statements, including but not limited to: management's business strategy for 2024; the revocation of the FFCTO; and the filing of the reinstatement application to the TSXV. Although YANGAROO has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.
Forward-looking statements are not a guarantee of future performance and involve a number of risks and uncertainties, some of which are described herein. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause YANGAROO's actual performance and results to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Any forward-looking statements are made as of the date hereof and, except as required by law, neither YANGAROO assumes no obligation to publicly update or revise such statements to reflect new information, subsequent or otherwise.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/231778
FAQ
What was Yangaroo's (YOOIF) revenue in Q3 2024?
How much did Yangaroo's (YOOIF) operating expenses decrease in Q3 2024?
What was Yangaroo's (YOOIF) normalized EBITDA in Q3 2024?
How much operating cash flow did Yangaroo (YOOIF) generate in the first nine months of 2024?
