TORONTO, Jan. 26, 2024 (GLOBE NEWSWIRE) — ZoomerMedia Limited (TSXV:ZUM) (the “Company”) serves the interests of 17.2 million “Zoomers” over the age of 45 and beyond. I'm a leader. Following in their footsteps, today we announced our financial results for the first quarter ended November 30, 2023.
Consolidated results
During the three months ended November 30, 2023, the Company generated revenue of $16.9 million, operating expenses of $15.5 million and adjusted EBITDA of $1.4 million. Net loss for the period was $230,000.
For the comparative three-month period ended November 30, 2022, we had revenue of $17.6 million, operating expenses of $15.0 million, and adjusted EBITDA of $2.6 million. Net income for the three months was $1 million.
EBITDA and Adjusted EBITDA are non-IFRS earnings measures that do not have a standardized meaning prescribed by IFRS and therefore may not be comparable to EBITDA or Adjusted EBITDA provided by other companies. EBITDA represents earnings before interest expense, income taxes, and depreciation. Adjusted EBITDA excludes gains on sales of real estate and unrealized gains and losses on equity instruments. These metrics are important to management because they are used by potential investors to evaluate our performance and debt burden and ability to repay our debt and as valuation metrics. Investors are cautioned that this non-IFRS financial measure should not be construed as a substitute for other financial measures calculated in accordance with IFRS.
Additional Information
Detailed financial information and management's discussion and analysis for the three months ended November 30, 2023 are available on SEDAR's website. www.sedar.com. The financial information contained in this release is fully qualified and should be read in conjunction with our interim consolidated financial statements for the three months ended November 30, 2023, including the notes.
About ZoomerMedia Limited
Founded in 2008 by television and media icon Moses Znaimer, Zoomer Media Limited reaches out to Canada's most powerful audiences: 17.2 million people over the age of 45, also known as “zoomers,” and 13.7 million millennials. , and Gen Z, who also happen to be called “zoomers,” are following in their footsteps.
ZoomerMedia operates 17 digital properties, including five television companies, two radio companies, three print companies, and the newly acquired youth-oriented local news and lifestyle digital publications blogTO and DailyHive. and subject-specific The Peak and Ludwig-Van.com, covering Canadian business and Canadian arts scenes, respectively. ZoomerMedia produces original television, radio, podcast, and print content, provides creative audio and video production services to clients, and delivers bespoke events on a 2.6-acre mixed-use property in Toronto's Liberty Village. It offers.
See below for specific ZoomerMedia property names and focus.
ZoomerMedia's TV properties include: Available in 7.5 million homes, VisionTV is Canada's home of British comedy and drama series, plus uplifting movies, music, news, and multicultural and multilingual faith programming. ONETV: Exercise & Entertainment Channel. We combine our original yoga, pilates, tai chi, cardio dance and kettlebell fitness series with British soap operas, dramas and American films. JoyTV in Vancouver, Victoria, Surrey and the Fraser Valley and FAITH TV in Winnipeg are dedicated to broadcasting Christian, multifaith and local content.
ZoomerMedia's Zoomer Digital Network (ZDN): With 18.5 million monthly active users and more than 1 billion annual pageviews and social media engagement, ZDN operates on DailyHive, dailyhive.com in Western Canada, Ontario, Quebec, and Canada's leading Maritimes. Follow News Brands with over 10 million monthly active users, 270 million annual page views, and 3.1 million followers on Instagram, Facebook, Twitter (X), TikTok, and LinkedIn. blogTO, blogto.com, is Toronto's unrivaled local publisher across digital and social media platforms, with 8 million monthly active users and more than 213 million pageviews annually. EverythingZoomer.com from Zoomer Magazine is Canada's leading provider of online content for people 45 and older. The Peak readthepeak.com provides 150,000 Canadian professionals and business leaders with the day's top global business, finance and technology articles, packaged in a smart, fast and easy-to-understand format. I am. Ludwig Van, Ludwig-Van.com is Canada's leading and fastest growing digital voice providing the latest classical, opera, chamber and choral music headlines, reviews, commentary, personality-driven features and interviews is.
ZoomerMedia's radio properties include: New Classical FM, Canada's only classical music radio station broadcasting on three frequencies on a unique Ontario regional network: 96.3FM CFMZ-FM Toronto (GTA), 103.1FM CFMX-FM Cobourg (Eastern Ontario), and 102.9FM CFMO-FM Collingwood (Southern Georgian Bay). Zoomer Radio, with the largest broadcast footprint in Canada, Original Greatest Hits, reaches 28 states in the United States, and in Toronto he is broadcast simultaneously on both AM and FM (CFZM-AM and 740 AM). 96.7FM CFZM-FM).
ZoomerMedia's print properties include: ZOOMER Magazine is our flagship magazine and Canada's largest paid circulation magazine for the 45+ market. On The Bay Magazine is the leading regional lifestyle magazine published quarterly for 20 towns and villages in South Georgia Bay, Ontario. Tonic Magazine is a community health and wellness magazine distributed throughout the City of Toronto.
Cautionary Note Regarding Forward-Looking Statements
TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Certain statements made in this report are “forward-looking statements”, which may include statements that may predict, predict, suggest or imply future results, performance or achievements. , may include, but are not limited to, the words “believe” and “expect”. , “expect,” “estimate,” “plan,” “will,” “continue,” “anticipated outcome,” or similar words or phrases. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Risks and uncertainties are more fully described from time to time in ZoomerMedia Limited's filings with state securities commissions. New risk factors emerge from time to time, and it is not possible for management to predict all such risk factors, and it is impossible for management to predict the impact of any such risk factors on our business or the effect of any factor or factors. It is also not possible to assess how effective the combination is. Actual results may differ materially from those contained in the forward-looking statements. Such risks, uncertainties and other factors include, but are not limited to:
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Risks inherent in magazine publishing.
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risks inherent in operating Internet media assets;
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risks inherent in operating television broadcast assets;
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risks inherent in operating radio broadcasting assets;
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risks inherent in the operation of affinity partners with respect to royalty income;
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risks inherent in operating consumer shows generally;
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Competition within the media industry for baby boomers' business.
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risks related to government regulation of publishing, the Internet, radio broadcasting and television broadcasting businesses;
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the outcome of any legal claim brought by or against us;
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The dependence of a business on the continuous operation of computer systems.
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the dependence of the business on key personnel;and
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Occurrence of public health crises or emergencies such as the new coronavirus infection
Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as predictions of actual results. ZoomerMedia Limited does not intend, and undertakes no obligation, to update these forward-looking statements.
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