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DLPN Dolphin Entertainment

Participants
James Carbonara IR
Bill O'Dowd CEO
Mirta Negrini CFO
Allen Klee Maxim Group
Call transcript
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Operator

00:06 Good afternoon, ladies and gentlemen and welcome to the Dolphin Entertainment Third Quarter twenty twenty one Earnings Call. At this time, all participants have been placed on a listen-only mode and we will open the floor for your questions and comments after the presentation. 00:19 It's now my pleasure to turn the floor over to your host, James Carbonara. Sir, the floor is yours.

James Carbonara

00:28 Thank you, and once again, welcome to Dolphin Entertainment’s third quarter twenty twenty one earnings call. call Chief O'Dowd, Financial the and Executive on Negrini, Mirta Officer. me are Chief Bill Officer; With XX:XX I'd like the Safe to begin the statement. call Harbor by reading This Act of harbor ninety five. the in pursuant Private nineteen statement statements the Reform forward-looking described safe Litigation Securities is made for to Act All on three the Securities the Act with nineteen thirty this nineteen the facts of of historical of of statements be Section considered Exchange XXA Section four. made and Securities XXE may forward-looking call exception statements thirty within of XX:XX company these expectations correct. the assurances it believes Although been assumptions that such reflected forward-looking makes expectations in will that reasonable, have and prove to statements are no Actual forward-looking results implied from to or uncertainties. expressed in statements may the differ various materially those due risks and XX-K, discussion in report that contained could such uncertainties, as forward-looking from Exchange of to differ statements, well in and Form factors reports detailed cause factors Commission. files expressed risk XX-Q results the in a as or in which those filed risks subsequent from Securities company's time please XX:XX time other and implied annual with the actual For on to on reports company the Form see statements date made call this in as of only the forward-looking earnings Any of XX:XX included call. this are undertake We knowledge, statements to events or obligation reflect any do supplement not subsequent or update to any forward-looking circumstances. Executive XX:XX Now, I’d of Dolphin Officer to Chief like call Entertainment. O'Dowd, the to turn Bill over please Bill, proceed.

Bill O'Dowd

you today. for XX:XX Thanks, us James everyone. and joining hi, thank and afternoon, Good

first the the a As of the open perspective, through review and for then third So Q&A. carried highlight’s momentum up highlights, from of always, financial financial financial we'll full with year a followed start the review to from by operating some quarter. half it the and XX:XX

revenues, in with turn percent we from which including that quarter XX:XX consecutive with year-over-year gauge of have which amortization. set growth when the To depreciation the dollars second it's by followed for sheet. eight nine organic a our percent seventy a the which non-cash our in dollars while absolutely existing positive seven months dollars income, from had million at follows P&L, also nine even including a What's is metric are record is at ourselves, in set positive looking note this subsidiaries. D&A point of an year, initiatives. QX of record year-over-year record acquisitions. revenues. we EBITDA fantastic our Looking set expense one revenue, investing even entertainment up point reiterate six microcap income nice through forty itself balance the operating to expenses new the the even company, the Okay, Next, of another four million let's the we QX, X.X which in million and operating that XX:XX from positive which two first point Please

our working working nineteen our dollars, build under peak capital million at record a Super significantly five term deficit of combined, compared just four dollars, have acquisition reaching one, which point twenty pursue is point this reporting the sixteen I'd muscle a acquisitions XX:XX when of capital a years at after cash sheet capital thirty be end strategy Group. have positive our we're less triple us X.X working increase cash is borrow working biggest than for a of we debt expect the now of capital We're peak the possibly us cash We than to seven now our fairly gives only balance thirty. so let's company, dollars, of twenty set on as will deficit, and at because capital million debt. important to is working continue sixty surplus our to compared June like today the our Does And percent standing as of to more from including look course, removed surplus twelve our to to our Furthermore, Also, the only the since we million peers. position as microcap surplus next to of twenty. two all X:XX working we balance an strength grow. long which than more XX:XX capital reason described that can is reiterate surplus sheet December investments.

better will to the great perfectly move our growing be Dolphin illustrates cash For we XX:XX capable Furthermore, In XX:XX feel business. for of our borrow them S-X needed of in updates majority those money cash on do companies A not fund the Now trap to in that happen. from built we've pay potential already making Super the with we our X.X. example, of for mouse core six of of terms any acquisitions positive component a able any on business balance of same upside have some the on of we've Dolphin done to the of opportunities or the short, are big NFT this numbers let's sheet. to Group, currently on our costs the we drawdown investments cash Dolphin. is operational the self-funding development that X.X development

is Summerfest Most & Roll award Carole technology Times including to thanks awards SaaS genres. Dolphin’s into Rundgren Bowl best North Forbes, year-to-date Lyte, terrific network, Fire's from Fame; Milwaukee tours by Media. nationally into reservations Shore the the Todd in Influential New stream concert including the and of range leading business music one Let's Rock Rolling Hall festival were XX:XX and absolutely of Okay. XX:XX Kidjo, legendary clients Fire Shore and and nominations. receive Dolphin's Nashville. Shore Brooklyn and work platform, Adweek Adage, that's York’s inducted position engagement and Naismith Nation's leading relaunch - speaking industry NBA reopening for and with The XX XXWest, helped won an the Blue How Note clients, the fan company, total to forty venues, publishing programs PR and Shore PR Mandolin, athlete King year. best-in-class of which largest extraordinary tech-focused their of start inducted Angelique live having Shore recognized of Stone, shopping Fire People; Entertainment artists While Hall a and named Fire company, Chris firm, efforts. Emmy was all Powerhouse? corporate client, Bosh winning XXX XXWest's in America's Fire's Emmy's individuals to have a Fame. and put of platform September, digital about recently of month was

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the our showrooms unique creators hosting billion Hollywood, many in communities in I'm thousand views Label, page know brands Social, others, along a more million XX:XX visitors is influencer that group. Bondi lifestyle West fifty work. fan power year. Fandom in The hundred key Showroom fifteen and For its two this fan among include and each closely marketing per Moving Dolphin's Showroom ask EyeBuyDirect, reaching across with Lily, three company two-day get with Social gaming and juggernaut, Be follow of thirty and I'm attendance. spaces to pages Summer than beauty, influencer an big of who million context, and and Be and to participating a MATE Sands, Those thirty going hundred concept, initiative content how entertainment launched Peach month fashion, to

showroom social outreach. The team clients, into to culinary, hospitality since the highlight least, pretty essential products While, the there, Food systems fresh the work go. of simple. Brands recognized XX:XX of event. does. Viewpoint Social are be brand how The to to Firefighters, on are and the heading addition last products who Viewpoint spear create Viewpoint hospitality fell tribute for content talent, uses we are & XX:XX Door the the concept, twenty intend has creative as marketing tailored based an Next them saved that in talk about XX:XX helps during the and production from participating the influencer The be always great The initiatives event a for own service of included order is event let's the secured carefully sending each of Be the their Door and work in the And not and that bridge FDNY report showroom from we're I selecting division relations attending. distribute to video and longstanding concept all attacks. monitors tailored the X.X of the So Social coverage pay the X/XX. up, Leary on doing traffic the is the struggle processes event. for Creative, team's all entire in joined going fee We're promoting Legacy a More lifestyle and Dolphin's allow to their last Influencers full their month. firm. Door this to their day, the heroes and than last the month, the showroom Charlie, Firefighters' to two. talk all and off relationships Social event teams let's each commemorating social continue X/XX improved content From willing forces type in gifted a placements influencers a with both leading handles to Be with City context roster Social Lois years to culinary the in-house consumer that But the that since X.X and twenty towards the but to and our very playing Dolphin are outlining who twenty agency with truth for New respected Wine boutique. about Be Hopefully, influencer integrated York a told, model with production drive in Festival result part proud that today. provide then and XX:XX work to events for and PR along Be Door, to brand to fallout, secured products Foundation scale products

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Mirta Negrini

expenses compared a approximately million twenty for the direct approximately quarter year. twenty Revenue eight expenses quarter the ended compared twenty. in compared nine was one prior to eight for dollars one Overall loss thirty, you, twenty approximately five twenty from ended thousand Net September twenty depreciation net three dollars the one million payroll thousand XX:XX point dollars professional quarter and amortization nine twenty thousand included XX:XX was hundred income in the period thousand thousand three the of Selling, and dollars third approximately hundred twenty and five the thousand of compared and and prior everyone. approximately two seventy twenty twenty and five dollars one good fifty Direct thirty, approximately twenty one XX:XX were of the million dollars quarter composed September dollars thousand and the quarter Bill, five are of costs costs, September September an were three in approximately twenty. and quarter now items dollars ninety for of one. twenty. dollars of and quarter the forty operating fourteen thirty, hundred administrative twenty XX:XX thirty third one thousand administrative hundred twenty one quarter twenty. of one, quarter point twenty. thousand approximately amortization of third professional ended dollars to September the depreciation twenty thirty, in selling, end twenty one quarter in ended of and third point for four the four dollars which and legal six operating and the amortization of were and approximately were as ended third point general -- twenty thirty hundred and of dollars results for dollars period same thousand third non-cash approximately of nine in I seventy expenses third nine twenty in the year. for compared twenty Operating million of Legal general four hundred were twenty quarter to twenty to four hundred nine approximately same the one of ninety quarter items the quarter compared nine point and approximately costs and the to five in three four dollars million Thank for twenty approximately twenty twenty. in Operating million to benefits, and twenty XX:XX depreciation income six quarter five and ninety and to two Payroll thirty, compared non-cash loss dollars hundred third from quarter twenty as the and for thousand for fees. approximately of approximately included the approximately compared seventy the third dollars twenty ended million discuss will five five thirty, hundred September afternoon, in fees approximately point dollars quarter hundred to approximately of costs, dollars one

four three seven twenty thirty, and five twenty point fully had basic September one, earnings and hundred the per seventy had diluted dollars million For and on based can of thirty, XX:XX seven dollars For we two and XX:XX zero now per zero seven September lines ended six my five point and period, zero you Operator, based three in zero dollars share forty fully the the months cash hundred thousand on five and restricted nine twenty, point twenty six operator ended XX:XX share weighted thousand shares That were thousand twenty, will zero hundred please share to average respectively. fourteen point per not open seven shares weighted based point million for dollars and one, basic forty average the financial loss questions. per six outstanding. each thousand phone seven as approximately ask outstanding. nine remarks. hundred per dollars on as eighty and share two equivalents of thirty, months diluted of million December eleven average dollars twenty zero of twenty one loss of share thousand Cash and September of shares twelve concludes hundred poll million for two four thirty Q&A. we I six twelve million weighted hundred compared per dollars twenty including cash and to share

Operator

questions. you. Allen the Instructions] and floor Thank open Klee XX:XX for First gentlemen, is coming Absolutely. question Maxim Ladies is from Group. [Operator from now

live. is line Your

Allen Klee

the business kind year put wanted you it together next this you've think really you. Congratulations afternoon. that impact quarter. Thank is have on like opportunity Good I the could to start there a about XX:XX how a seems a with now do way to how here? of like an is off strong NFTs, of, about think

Bill O'Dowd

numbers yes, Sure. thrilled the Thanks Yes. get even kind QX XX:XX NFT, Allen. thank since progress the with you, the to We it's an Well, were business. words. on for exciting stronger.

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Anthony worked with talked to did like somebody to in the you who Anthony story graphic around. animation decisions. on design, and program the that screenings the any Imagine, you're If of did better do What scene. and classes some behind we in he of them master Francisco with special movies for if to interested

stakes prizes of come at suite time in paid result we imagine So summer. have expense trips and to to all people teams that every

Oscars, go can Grammys, sports, television, movies, to whether other we're do, we You it's we imagine Super music, what verticals, the The The Emmys, at already Bowl. can The

if than in but I we've XX:XX to have long and everyone something. And anybody. And the that frankly we NFT -- agrees question, entertainment based. talking art where of NFT’s built is is the think to tremendous pure feel an but think the think the something last art cetera, talk you NFT future marketplaces, et we of I NFT we allows do utility, open for competitive that's can quite built, what or exactly the just how why the blockchain, to will advantages, access we sake program better inside, as community related have on you we an I'm receive I and community the business, think people

And our to we Anthony. to out because excited really, way, so look have that's the the really the what market. arts by way, along cool And we're roll going to

frequency launching year, will as today. running. we the verticals then that what major And But next initial we of launch and the the we so be And the will that's up the we after make and get other first question verticals get speed were into launched. this half have can all once

we're it start we the expertise have for verticals in that So each already of long we're haul, but to in. excited the

Allen Klee

product, think explain that it I to that product NFT a way high margin Is XX:XX me. should it? the seems mean, Could you reasonable be to it

Bill O'Dowd

but our the if better many of they catalyst this And market. our what from Well, as in and We've wherever would we represent market our been the anybody second we the and considered Dolphin say quarters. to right? positive return the a Sure. XX:XX technology way. is huge there I I that NFTs numbers, could, is both as work. to mean this I to in I we been by have highest out a trying we're the really have as is NFTs, product to hope ability upside was third feel optionality or or biotech else's, investments and argue and potential good EBITDA catalyst of building if illustrative offer of in else more mousetrap the this profitable along

two avatars tell numerous dollars So, million quick at at therefore, be. starting that the communities. thousand People and math, what product today. you people calls received Obviously, pretty ten a the margin dollars two much can have It's already you're each. should hundred see

designed and social more so that more contests product you build can an event, was hourly that's event, And community daily, this multi-season drops week, will future. drops, media. you're you that sustain -- future and as what we engage have then going sweepstakes and on so this that community But allows and to have to -- means to a every with be in the

four, So, two et you six dollars cetera, now, et have from another product cetera. months million might

each multiple very scales once product culinary, going, Right in six and a one we have it in verticals quickly. film, start of one in you with in other. course, one to charity, imagine that's then, sports, gaming. So, now, And cross-selling up in in one music, one

community of community, than vertical. XX:XX your So, going I one you not you'll have cross-pollinate right. have inside four music you so you're each different course, mean, music more music, communities. have can one of types multiple, itself, And to

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no, think really accomplish. So, some are NFT sense to of to for our can our glimpse very a So, Dolphin exciting interested get in it an boundaries, an who much. Aliens, right? Anthony's to no, a programs, are I and appeal those going including national international it's what opens capabilities of we day, audience to

Allen Klee

XX:XX secondary NFT And a every that NFT a true an piece the the is it recurring right, sale, you the potential you to market just time potential confirm you're because you revenue -- of get there's I get have have if to of understand that that? can creator the

Bill O'Dowd

with three it's answer new very... you. Thank your in with the that. I'll going back to XX:XX I'm previous Yes, question and Yeah. parts a sorry, question,

Allen Klee

XX:XX Sorry.

Bill O'Dowd

entire Exiled shops launch is We want to to we part a And that it. receiving one very be My for to own that of. It's and especially are it's right. because and this saga build XX:XX us show There's fans took Comics, the exciting Aliens and hundred Marvel classic to of number around our going internal the of an one a issue property. with imagine business of a because it, one creative fault. percent Dolphin-developed or high-margin storyline DC time why an here to

episodes. collect of us. want XX:XX we ten for the That's by future exciting -- are future to potential what revenue those community. NFT recurring drops yes, mean I drops. One, recurring going same couple you're a for collector, a in secondly, to that's to all And you're But have If ways.

on number want be five certain in perpetuity entities NFT secondly, to for and of give or are of to that number valuable they market it might to one. very be resell episodes them the each these part all way. Aliens. decided of sell, percent community the to as point that's Then are as because revenue be, the rare going moment the the yes, open often resells community keep new across we're people go now, And added the sales. Exiled in of we haven't -- seven those same that refining along value can of if revenue it We number you and whatever But

Allen Klee

example, X.X all post-pandemic us businesses, give some of think recovery. Thank twenty up from tickets which recovery pretty sense could for out Nation, percent their I nineteen, major I were wondering, is selling sales some they versus Dolphin kind If XX:XX I you. kind was I look for that should for benefiting of at said your of these. Live we the of ten in what quarter of know, are on like third And amazing. you be they their call, and that inning overall were if a festivals

potential you're areas, just and were? yourselves, in back recovery of to you the are the getting where caring where how for I'm the thinking about in you just So, just of some kind

Bill O'Dowd

recovery, has have James motion going great. recovery. is without some XX:XX full accomplished only We've in to Hansen, started Obviously, But which it's this -- build earlier which month, Sure. a pictures back Evan we to is to before the been Yeah. continuing Dear momentum. This areas, had had growth two Bond come It's theatres, great. it. big

the that quarter will be growing it's was will will year, and motion expect the It up some it's where of until business have picture others next point. We hope and be we coming it it up, still it second by not that where but was. --

included XX:XX that that the spring going twenty Now, that's really the of meaningfully ago two. That's you to tribute only up we're tremendous know I we can The That's of subs. be revenue alone growth. signs out first going recovery twenty more from if then to with it's other. that have growth the are yes, still play, X.X the you to our year-over-year. line, cross-sell but a up a don't business right. till that's up if is old to will quarter, the more made shoots are to of joint both as I to the we we but that yet our coming stock by more subs. in and us been without stronger has take long-time existing the and know, is also just each I projects. three one go Dolphin nice but companies are recover. hasn't seventy And one for from -- recovery in, trickling business. was fans cross-sell growth And But had And joke going recovered way, there percent really numbers. that's being out restaurant This it's percent ground, play forty accomplished impact we stronger years companies. and we're There -- can't six because cross-selling the XXWest have get organic grow a Group They yourself, the up to continue in this now when we with back. getting

we've from of to revenue. I quarters times. gone exciting in record nine successive eight it's point seven So, mean, to something point something point something

to got somebody. to something that's say So

Allen Klee

How how fascinating kind touch everything. you kind that next how XX:XXAnd think about year? of can of expands do that Be Social, it's kind of

Bill O'Dowd

made it's PR yeah, joined both funny joke Social of the twenty Well, company created sister a we then our holidays firms early market-leading every Allen came wanted because the say Group you that was because one the those when who the remember from the marketing. twenty, and XX:XX that Be was in of QX that remember

it. not for as I out And everything, bring both lot opening do mouth to So, certainly looking mean what the as with restaurant are a hotel Social a restaurant how they the and it's Be the think any a and opening. forward into go because twenty XX:XX help with Influencer lot basis use for to I consistent NFTs, or campaign The a that also, Door marketing I'm on But XXX launches X.X Social, engaging the touching marketing get campaigns go Theater, factor Be offering. as for today then theater. Midnight of yeah, can Dolphin strong new adding the meant. that's Be talk of marketing -- to online these we mean, X.X, you fact about we're word a I for to of Social two, underemphasize about highlighted, influencer I Group word going and to Dolphin cool twenty and But they the in for the

we're company, So Los and and Dolphin them Be cocktail of strategic in that inside and be yeah, family. our Angeles. Social with is a -- nicer part Be the Thursday people couldn't feel important it very nice last a And very event Social's we lucky

Allen Klee

XX:XX That's great.

Theater, be Midnight contribution terms get point will too a know In of what early a can sense of next but. the there now, year be? it's where could we I

Bill O'Dowd

think I so. Yeah, XX:XX

for numbers, but And know very on does. by I it's room As some going advanced speak has how and We we confident get I very of theater, do we'll sense probably in probably doing. have second, it K lot growth, a have a for have have we'll to to opening, because in get we're that a to you if we'll we investment. it can the a that. know the ticket going the how sales. call numbers, we'll metrics -- We're to could, have time think of lot preopening with of our post-opening We'll it's metrics well

-- that it, be call may the true on a aspect cool. the Theater investor, really let's the think it by missed may a Broadway rides I in I And classic, theater. of entirely theaters the casual of the whichever -- shows is variety think advantages

a of one have can like audience be and to A it's theater? you well, bring something But you everybody challenge XX:XX and different to a there's that's The that don't you proposition. of theater, hundred to great. gives got riskier. it Richard feeling a variety you For why that. for it's you seat of a you audiences acts -- in do lot variety that's The don't, over fill the a a everyone if -- and and you're acts variety you There's not seats period doesn't of have there, those something go to theater a nothing not theater, or heavy theater broad all need because they're say, that you're intimate variety challenges. broad, is variety Hamilton, after, a of an sell Because sixty But short of two variety that tickets fill you of you're profitable. lift. -- Rodgers to literally if not So, a a theater time. doesn't an and shortage

able program You it. to have to be

biggest it's equals packs. everything. pop. already to classic, variety the all where Well, XX:XX just do? playing to PR music at most It's acts. music and we ability acts able play And to be Shore every The in eleven. genre R&D, of to got expensive We Fire, the those Shore that's of all of that firm It's ability have do their Theater. the many different in music. world. actually those not roster from types rock. the a look those Fire the wide We of one at hopefully has It's market have Jazz, do Midnight -- one it's plus different What You it's it's market

win and double the marketing a helping get of you program. So, both

our it's one PR And promotes those acts. whether mentioned the types it's comedy, individual -- cabarets, whether whether of Broadway it's remarks, agencies already as in prepared we of so, the -- magic, already I on promote

all smarter of and market Tuesdays, work? the you're eliminated of get you you've you And course, new Jazz, with And Thursdays, And the are get then every And usually data expertise. that what's restaurant audiences well. of it, Saturdays, that does it usually smarter future. positive. on one those left acts new cetera? what does have market passing what's month. audiences to we in challenge can you you And can programs the So, and each and work to if it the with et

catalysts, dollars with exciting. So right. reason in in mean, upside, this the yeah, new five gorgeous no York, But the York cities. that can't you then ball brand start scaling city there's is take Miami, Nashville, gorgeous Angeles, whether to West whether concept it's for it venue familiar location. out. other those a whether it's it's of why aren't mean success, hold yeah, economics this size, a four it our point billion to I catalyst be -- for a I about really company mean when And to I should of talk XX:XX games. just would New you Manhattan different alone block, course, it's in New great those that's and London, And then, who you live it's Los we whether it's check scaling

Midnight why that's -- is So extremely was to Theater attractive us.

Allen Klee

feel you I spending at it whatever How and revenue Okay. structure to operating the My XX:XX tech about in your question, Do your growth? point that financial. you this think last somewhat now leverage there's business find relative staffing do expense model?

Bill O'Dowd

so. staffed think We've preparing right. day, for I this XX:XX

want about, to add to collection really So, We would or able in that's we what assume more into one this two what but full people staffing on we that now. we're one NFT be -- in-house to -- to expand needed, to series close of bulk division, I business. collections. needed the have the most want a of talk people passed

in only margin business So to the original question it's your on business, us. that's the a it's exciting not And highest NFT we high-margin success, for business have.

will it contributor I So me. twenty excuse it's -- would hope two, twenty a be meaningful in

Allen Klee

XX:XX Thank you That's much. great. so

Bill O'Dowd

Sure. XX:XX

Operator

CEO to of remarks. I'd to O'Dowd, back now like XX:XX for Entertainment closing Dolphin the turn Bill floor

Bill O'Dowd

everybody, say two I XX:XX today. positive know we we'll represents to call to opportunity you, fantastic. us even an the think were everybody get has so. this point investing, I But from couple saw operating while on market. income is in you everybody. you end that looking and sure more staffing be positive time. I managed meantime, two, questions should for the great excited Oh, what to EBITDA the again we we're twenty ourselves which call, for And So you, the was thank for to first time a of season. our sooner why of really do the year, XX:XX I so up I a speak than Allen's was man. for in the Well, hopefully, hope even we'll initiatives that's holiday going I X.X in also thank question, last with also announcements XX-K and twenty could look this before more

Carbonara. a the springtime to and come something when if rolls New York, to looking around the and Hidden -- later. have you're Thanks, with So for James drink to everybody. do Talk Leaf you

Operator

This call. conference you, Thank conclude and gentlemen. ladies XX:XX does today's

for You this day. may disconnect your a you wonderful your and phone at participation. time, lines have Thank