Thunderbird Entertainment Group Inc (THBRF) Q1 2025 Earnings Call Highlights: Revenue Soars …

• Revenue: $45.7 million, a 36% increase from $33.6 million in the same period last year.

• Animation Revenue Growth: $4.4 million increase, representing 14% growth year-on-year.

• Unscripted and Scripted Production Revenue: $9.6 million, with no comparable revenue in the prior year.

• Licensing and Distribution Revenue: Decreased by $1.9 million, a 61% decline year-on-year.

• Gross Margin: Declined from 23.5% to 19.6% year-on-year.

• Net Income: $1.6 million, compared to a loss of $0.7 million in the same period last year.

• G&A Costs: $4.7 million, down from $5.1 million in the same period last year.

• Adjusted EBITDA: Increased to $4.1 million from $2.5 million year-on-year.

• Cost Savings: Over $3 million in fiscal 2024, with permanent savings in salaries and wages of $0.7 million.

Release Date: November 21, 2024

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

• Thunderbird Entertainment Group Inc (THBRF) reported a 36% increase in revenue for Q1 2025, reaching $45.7 million compared to $33.6 million in the same period last year.

• The company achieved its fourth consecutive quarter of positive earnings, with a net income of $1.6 million, compared to a loss of $0.7 million in the previous year.

• Thunderbird’s production service engagements, particularly in animation, contributed significantly to the revenue increase, with a $4.4 million year-on-year growth.

• The company has a strong content pipeline with 25 programs in various stages of production, including 7 Thunderbird IP and 18 service productions.

• Thunderbird maintains a strong balance sheet with no corporate debt, providing financial flexibility to pursue growth opportunities.

• Licensing and distribution revenue decreased by $1.9 million year-on-year, a 61% decline, due to changes in timing for the network release of ‘Highway Thru Hell’.

• Gross margin declined from 23.5% to 19.6% year-on-year, primarily due to increased levels of scripted and unscripted business, which attract lower margins.

• The ongoing negotiations between the AMPTP and IATSE 839 may delay production green lights, potentially impacting forecasts and timelines.

• The company faces challenges in market visibility and liquidity, with concerns raised about the share price not reflecting the company’s progress.

• There is a potential impact from the Canada postal strike, delaying the mailing of Q1 fiscal 2025 documents to shareholders.

Q: Are you planning on buying back shares this year? A: Jennifer Twiner McCarron, CEO, stated that the NCIB remains open, and they have renewed the ability to use it. They are considering the best use of their cash and the NCIB will always remain an option.

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