Dolphin Entertainment Q2 net loss widens on retention bonuses and higher litigation costs
DLPN•Outlook
- Company expects meaningful sequential improvement in profitability in Q3 as one-time expenses subside
- Dolphin anticipates legal and professional fees to moderate going forward
- Company sees future free cash flow benefits from maturing debt and expiring leases
Overview
- US entertainment marketing firm's Q2 revenue rose 2.5% yr/yr to $14.4 mln
- Net loss widened to $1.6 mln, impacted by retention bonuses and higher litigation costs
- Adjusted EBITDA fell to $243,000 from $628,000 a year earlier
Key Details
| Metric | Beat/Miss | Actual | Consensus Estimate |
| Q2 Revenue | $14.40 mln | $14.50 mln (1 Analyst) | |
| Q2 Operating Expenses | $15.50 mln | ||
| Q2 Operating Income | -$1 mln |
*Applies to a deviation of less than 1%; not applicable for per-share numbers.
Result Drivers
- Non-recurring retention bonuses - Co said net loss was impacted by $360,000 in retention bonuses paid to certain employees during the quarter
