D-BOX Technologies reports a 16% decrease in revenues for Q1, with net loss of $316K.
From GlobeNewswire: 2024-08-13 17:01:00
D-BOX Technologies Inc. reported financial results for Q1 ending June 30, 2024. Total revenues were down 16% to $8.8 million, with sim racing revenues up $1.1 million. Adjusted EBITDA was $263 thousand compared to $1.3 million last year. The net loss was $316 thousand. D-BOX has 933 active cinema screens as of June 30, 2024.
Revenues for the first quarter decreased by 16% to $8.8 million compared to the same period last year. Rights for use, rental, and maintenance revenues were down 19% to $2.4 million. System sales revenues decreased by 15%, with gross margin excluding amortization increasing to 55%. D-BOX incurred a net loss of $316 thousand compared to a net income of $496 thousand in the prior year.
Gross profit excluding amortization decreased from $5.6 million to $4.8 million. Operating expenses saw a minor increase due to increased administration and selling expenses. Adjusted EBITDA was $263 thousand, down from $1.3 million in the previous year. D-BOX had a cash position and undrawn credit facilities of $6.7 million at the end of the quarter.
D-BOX will be conducting a video investor presentation on Friday, August 16, 2024, to discuss Q1 results and outlook. Investors can submit questions in advance via email. The financial results for Q1 2024 can be found on the Corporation’s website and should be read in conjunction with the audited financial statements and Management’s Discussion and Analysis. D-BOX uses non-IFRS financial performance measures like EBITDA and adjusted EBITDA to evaluate performance.
D-BOX Technologies Inc, a leader in haptic and immersive experiences, reported a net loss of $316 thousand in Q1 fiscal 2025. Total revenues decreased by 16% to $8.8 million, with sim racing revenues increasing by $1.1 million. Adjusted EBITDA was $263 thousand, lower than the previous year. D-BOX has 933 active cinema screens as of June 30, 2024.
Read more at GlobeNewswire:: D-BOX Technologies Reports First Quarter Financial Results