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$4.54M of principal in Q4 2024. While reported balances remain impacted by FX rates, debt repayment totalled US$5.79M in Q4 and US$9.34M in Q3 and Q4 combined. "We continue to recognize the benefit of de-leveraging both through reduced interest expense and ultimately increased operational flexibility," said Jordan Taub, CEO. "Reducing our debt load remains a top priority as we work to strengthen our financial foundation and enhance shareholder value."
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.
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+ atwww.sedarplus.caunder the Company's profile.
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