Dolphin Entertainment Sees 27% Q4 Revenue Growth and $1.7M EBITDA
Dolphin Entertainment posted 2025 revenue of $56.7 million, up 10% year-over-year, and fourth-quarter revenue of $15.6 million, a 27% increase, while adjusted EBITDA rose from a $0.5 million loss to $1.7 million in Q4. The company recorded a $3.1 million net loss and holds $127 million in tax NOLs.
1. Revenue Growth
Dolphin Entertainment’s 2025 revenue reached $56.7 million, up 10% year-over-year, driven by a 27% increase in fourth-quarter sales to $15.6 million, reflecting strong organic growth across its entertainment service lines.
2. EBITDA Improvement
Adjusted EBITDA for 2025 rose to $2.9 million from $0.9 million the prior year, with fourth-quarter EBITDA swinging to $1.7 million from a $0.5 million loss, highlighting improved operating leverage.
3. Losses and Expenses
The company recorded a $3.1 million net loss and a $39.5 million operating loss in 2025, with operating expenses totaling $56.7 million, resulting in a $0.27 loss per share based on 11.56 million shares.
4. Tax Shields and Partnership
Dolphin holds approximately $127 million in federal and state net operating loss carryforwards to offset future taxes and has launched a partnership with Dealmaker to fund $0.5 million to $5 million celebrity-led projects, aiming to drive new fee and equity revenue.