Loop Media (LPTV) 10 Dec 242024 Q4 Earnings call transcript

Good afternoon, everyone, and thank you for participating in today's conference call to discuss Loop Media's financial and operating results for the full year 2024, and the fiscal fourth quarter ended September 30, 2024.

Joining us today are Loop's Interim CEO, Justis Kao; and Interim CFO, Ari Olgun. By now, everyone should have access to the full year 2024 and fiscal fourth quarter earnings press release, which the company issued earlier today at approximately 4:05 p.m Eastern Time. The release is also available in the Investor Relations section of Loop's website at www.loop.tv.

In addition, this call will also be available for webcast replay on the company's website.

will a there session. remarks, management not Q&A be Following

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Justis Kao. Please go ahead.

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and Thank you, afternoon, good Justis, everyone.

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financial the fourth Now highlights to let's performance. turn fiscal our and our year of fiscal quarter

to year, XXXX profit to XXXX gross was million the fiscal million profit. Gross $XX.X year $X.X in $XX.X revenue million million In in ago in $XX.X to quarter, compared $X.X Revenue; period. fiscal million the compared revenue year, fourth $X.X was compared the XXXX. fiscal fiscal was fiscal in In the million XXXX.

fourth gross year. rate the was fiscal was the XXXX, gross XXXX Gross XX.X% same XXXX the fiscal In rate XX.X% of quarter fourth XX.X% $X.X quarter quarter. fiscal of period in our gross year, profit our fiscal to In compared in margin. year million compared was to compared margin XXXX. XX.X% margin fiscal to in the In the million XXXX, for $X prior

even over few cost actually Justis year, past revenue declined same while optimization revenues to period As reflects XX% implementing the and demonstrating have focused highlighted our to enhancing margin earlier, deliberate a in gross or environment. quarters, improvement our fiscal last commitment compared This the challenging we initiatives modest been improved. rate million operational by our efficiency QX the $X

QAUs.

decrease we and XX, year. to Screens QAUs our Loop XXXX, the to compared September As Platform, including the across XX,XXX Partner XX% owned operated approximately Loop on had XX,XXX represents same platform, a Players fiscal QAUs for XXXX. This last active quarter and of the XX,XXX compared fourth of period

fourth fourth quarter fiscal reduced XXXX. approximately SG&A per screen expenses, and On the with administrative, the stock-based XX,XXX In of total an fiscal amortization, of the million restructuring Partner about increase sales, of the to $XX.X to ended of in from or XXXX. compared loss costs, down $XX.X fiscal assets we Screens, XXXX, year disposal quarter million, compensation, Platform general reflecting Partner excluding XX% fiscal were depreciation long-lived side, XXXX, and from X,XXX and

same the of in decreased and headcount, In administrative reduction cost significant quarter year-over-year XX% and marketing compared million cutting $X.X $X.X professional including or representing reductions operational the significant of expenses measures, SG&A our XXXX, is the to This to or This decrease achieving million company for XX% cutting period-on-period. cost our has measures, strategic undertaken, improvement of reflects better to expenses $X.X fourth XXXX, to due impact fees. million the fiscal in $X.X efficiency. million the commitment a in period reflecting

as share Net loss. Looking ahead, loss or align to share XXXX, to $XX.X year share same from $X.XX $X.XX or fiscal net we expenses XXXX, of loss $X.XX the XXXX. $X.X our or improved In will or disciplined to objectives. to decreased $X.XX our strategic fiscal net a million million our of per in of cost loss in per $XX fourth prioritize fiscal with net million share XXXX. million compared $X continue management, the per period per In we quarter

$X.X the strategies. in for improved and $XX.X year. the EBITDA EBITDA last adjusted fiscal the million million to to the in XXXX. loss loss loss improvements in revenue, Adjusted These management of effectiveness our of $X.X XXXX compared highlight of million $XX.X fourth challenges cost continue loss million quarter, a a of the to despite In EBITDA to period adjusted in improved from same fiscal net year both fiscal a

to lowering that burn the required or have revenue operations, We reduced become our from cash flat level breakeven. of is

cash and were $X.X to Cash on September Turning $X.X to balance million XX, compared equivalents on XXXX, XXXX. our XX, sheet. September million

net million compared September XX, million of as XXXX, XXXX. was debt total September XX, of $X.X $X.X As to

raised an term. working the [ facility receivable out accounts previous a our Additionally, favorable closed fiscal are $X our near more off and year-end, securing subsequent in million with facility on and paid ] to ABL we our additional actively lender,

today. to his remarks. I'll joining it you Kao over Thank for closing call for our turn Justis

heading everyone you, like today prepared concludes I and to fiscal wish This I continued to thank for Loop to Operator, business your you. everyone want of We the back confident would happy the where Media. for XXXX, our remarks. Thank about joining support in a holiday very season. and is Ari. call remain

remarks. This questions for of you concludes now the at our call indicated be following there will conference. Thank our As joining today. beginning the call, no management's

day, You Have a pleasant may everyone. now disconnect.