In This Article:
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Revenue Growth: Q1 revenue increased by 6.2%.
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EBITDA: Slightly short of $300,000.
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Expenditures: Increased by approximately 27% due to depreciation of previously capitalized software development costs.
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Adjusted EBITDA: Approximately $100,000 when excluding certain costs.
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Core Strategy: Focus on expanding plan P/E use in new and existing territories.
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Marketing Initiatives: Implemented lead source tracking and improved SEO and site performance.
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MTR Sales: Small but growing, with increased average sale per customer.
Release Date: January 14, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Q1 revenue increased by 6.2%, indicating growth despite challenges in marketing efforts.
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Implementation of new pricing discounts for volume users has increased the average sale per purchase.
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The company has invested in expanding its core strategy to grow plan P/E use in new and existing territories.
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Introduction of self-sign-up and automated payment processes aims to streamline sales and improve customer experience.
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MTR platform, which tracks radio plays, is showing growth in customer retention and average sale per customer.
Negative Points
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Marketing efforts faced setbacks, with lead generation not being as effective as desired.
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Expenditures increased by 27% on the P&L, largely due to depreciation of capitalized software development costs.
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MTR sales remain small, indicating a need for further development to handle larger sales volumes.
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The company is still building out the capacity to sell MTR at volume, which is not yet ready.
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Despite improvements, the company acknowledges that marketing and business development strategies are still in progress and require further refinement.
Q & A Highlights
Q: Can you also track radio ads that are played with your technology? A: Radio advertising? We could, we don't, but the functionality is the same. It's a really good possible business where advertisers will want to see if their ad gets played at the appropriate time. The functionality of the way our technology works is precisely capable of doing that. - Frederick Vandenberg, President, CEO
Q: Do you have comments on Downtown Music acquisition by Virgin (Universal) and how it can bring new business? A: I don't. Universal is constantly acquiring new companies. I haven't really thought through how that would impact us. - Frederick Vandenberg, President, CEO
Q: What are the key strategic initiatives for Destiny Media Technologies moving forward? A: Our core strategy is to grow plan P/E use in new and existing territories. We've invested heavily in making it easy to expand through platform improvements and marketing initiatives. We're focusing on building a foundation of core planity revenue and adding new layers of businesses and services. - Frederick Vandenberg, President, CEO