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Vinco Ventures (BBIG)

Participants
Lisa King CEO
Philip Jones CFO
Greg McNiff IR
Call transcript
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Operator

Greetings, and welcome to Vinco Ventures Third Quarter 2021 Earnings Call. At this time, all participants are in a listen-only mode. [Operator Instructions].

As a reminder, this conference is being recorded. I would now like to turn the conference over to your host, Greg McNiff, Investor Relations for Vinco Ventures. ahead. go Please

Greg McNiff

Lisa will welcome Today's results and filed for complete statements. Ventures quarter incoming and will to third Ventures. are and These to fuel as Executive uncertainties in as actual could those well Good our contained are Jones, Such discussed the is forward-looking risks Philip are the call. to earnings performance to webcast being be forward-looking growth subject April Certain site I'm financial with at thereafter, Web Vinco's for on be Form ended filed uncertainties XXXX to that today section SEC, materially Report from call results cause our quarterly statements. of conference on Financial filed live certain and Relations Vinco's Greg ended on Vinco's XXXX our available. transactions Chief report including will today, Also opportunities quarter differ expect December the and Officer; statements growth, XXXX currently XX, be where including Officer. morning, discussing September Chief today. the XX, Vinco Form risks in we the archived on quarterly King, our XX-K reports platform XX-Q call for Annual XXXX, press our McNiff, growth the period on documents filed and XX, our Vinco including Investor the matters expected is we the centered Investor Relations and automotive release investors.vincoventures.com strategies around and

in non-GAAP enhance measures GAAP Lisa. press like between conform release. the to with performance. I'd to our financial certain Vinco the found turn We not understanding to And over today's the are these generally believe do In of call principles. reporting, addition U.S. in tables non-GAAP to that reports GAAP accepted that, included and measures accounting these Reconciliation measures

Lisa King

quarter third report today. for results. We're pleased everyone, our and joining you thank morning, Good to

progress on Before I media take the strategy made we of few quarter, discuss the content and review building global moments like highlights of I'd our some of to the platform. a to a

create We platform venture entertainment pure Lomotif, We play advertisers and brand LLC, joint strategies the centerpiece AdRizer Media, company. the in of agreements Lomotif's million a three its and to media digital user through announced awareness to believe believe the clips launch. over along has for venture with its our acquisition its atomic its to real-time Global planned ZASH over of partner, its videos global, monetize runs programmatic million one play in interest with acquisition networking ZASH Lomotif capabilities our of During social us proprietary enable is billion ad monetize have platform. Over AI-focused the view growing the positioned early October. we agencies the through completed advertising Media years, XXX in planned of Partners our Media, social generated AdRizer of the installations and and own an and of Lomotif the expect sponsorship. direct in of acquisition with will app platform growth We networking with on XXX AdRizer globally more platforms. rapid XX% XX platforms the pure than both as quarter, advertising our to growing we become one intend used transactions to on we ZVV video-sharing since content is fastest last been category the We since video-sharing joint Lomotif Global launch.

we'll for progress share AdRizer as this with transaction. enter to acquisition, a As the agreement into we the this strategy parties are still about in more negotiations definitive later

ZASH platform combine believe can Global arbitrage Nation growth. network by expect for distribution we which that a Badger the flywheel company In build celebrities Badger media will its inventors we which on distribute, a and creation and initiatives traffic campaigns model, monetization with be venture is What to with Lomotif content unique network an media a potential Media to revenue that remain of to create, and partner, and company. leverages Media, agreements. converts and products Lomotif's growth of I've to we and Vinco. believe with for Honey to joint employs our licensing brands, addition, working drive revenue. powerful and commerce significant a its is AdRizer We of that designs digital traffic leverages will described proprietary complemented influencers advertising Honey Nation our Honey digital and millions Edison Edison to catalogue transformation process ad a have by entertainment of the Badger impressive stack. followers brings vision and dollars, to grow content above allows market monetize to their capitalize our Vinco

spin-off our on announced our expected by I'd like which next subsidiary, developments. planned complete some progress, to you we notable give briefly operational completed sense of transformation, is a blockchain to be of our To Finally, Cryptyde, early to the year. touch

and month, EDC U.S. Las in engaged a partnered to brand Vegas with Lomotif extend the Lomotif through a last event that large three-day Just the reached audience.

us brand its pollination platform views brand the story the scale is becoming on a This other has on exceed the recognizable million becoming Not to Lomotif made social the the over in XXX over expectations, U.S. Lomotif and content views. potential a XX Instagram of that with cross Lomotif way suggests believe influencers media TikTok platform. did leading only over XX activated Lomotif million our Specifically, received and but

a details expect expand and currently to a more We're recently launch We're in feedback coupled to Lomotif collaborate next by and can on Initial strategy We where announced engage our I'm summary, content quarter. encouraged share be out growing focused media with progress on company positive. India, roll opportunities potential the focus creators. large our media to and able to social our execution of us this call we more In our the excited the on subscribers update. market, and brand features channel been the will platform, to other and of our in more Phil? market the turn Lomotif local for that, has to With financial in pursuing with third over now results we our very soon. I'll also position about detail. discuss We growth. of a markets trends to Phil well entertainment long-term believe very robust expect

Philip Jones

the join spin-off he of ensuring as consult transition is also a I'm serving until Cryptyde, to Thank Vroman you, for as the thank he Lisa. company now Brett the team, where I'd seamless continue very to for to excited like and CFO. will

the discuss recent developments quarter, the results the I since few a third Before highlight last to update. like corporate of I'd our of

milestone foremost, Media, of with completion significant was venture and hard a and joint of ZASH by of the First the a acquisition Lomotif the work in the our of culmination a Global Partners, company through July Media for many. ZVV lot

began the Media the results interest to during Partners, ZVV quarter, our consolidate First, through Lomotif of we variable entity. consolidated

brand focus in user During across its the quarter, Vinco. thrilled and Lomotif have base are markets, continued its them efforts and on expanding to we to its

of exercise to a fund the convertible million, proceeds were our of stock Media ZVV million. issuances Secondly, raised million sales the warrants, cash used offering $XXX the was acquisition from interest along Partners during note which and of quarter, from of $XX the $XXX from which for we third in component million of with common the $XX membership

under As agreement in of September provisions the XX, a control convertible of in the we XXX is million cash, deposit million notes. account restricted had approximately which XXX of

capital significant our to and successfully fund funding business the issuing and out the During potential this of subsequent believe capital continue to quarter that help to end, future raised We of through provides the quarter warrants. source build acquisitions. exercise we needed

we biggest the quarter million restricted XXX which warrants have loss million estimated of in today, nine-month and of of and fair at of the change is includes end third cash, recognized warrants September. impact on As results outstanding issuance The to in value approximately cash. the in the XXX our

shares for the if common approximately the Specifically, raise company. as fully approximately of outstanding of funds the $XXX could for which warrants stock, exercised September of XX, purchase of XX cash had for million million company

Associated million the understand a price September non-cash this as of be is a company to liability is that is will XX, XXXX. in that expiration will It share with reported fluctuates, important as liability sheet balance eventually the liability warrant of warrant the either on value warrants. to $XXX these and due underlying exercise warrants change eliminated or

significant our results financial and However, a this be during for will its our evolution. stage warrant the element of company impact its on liability

to wanted I here. it So highlight

warrant-related the stage for consideration its activity the we transition from in was the the reflect for of the third quarter, As the loss, early net content operations of XXX remaining loss our total After quarter. loss to impact warrant future. the results Vinco of million of or XX% and of media saw

of quarter operating of third decreased expenses the business to business. necessary the potential directly and Division for operating to million quarter related period of During continued quarter, over the $XX.X its ago a the and XX. X.X internal fees for raises, XXXX, capital business to the work are of on the Operating stock-based legal focus steps with to the incurred and to X.X year and to relating and implementing given strategy, past has the due million ramp its significant company The advisors and the equipment. comparable resources, since respectively, build to professional compensation, execute necessary close transaction its company teams the and in which demand due to protective million Edison ZVV of the revenue a a XX.X%, total [ph] Medical Partners the not due million XX.X finally the which mainly the expenses acquisition third undergone reduction diligence its of our of related spin-out of changes the a decrease was was transactions the to the on attributable Media our in same Lomotif, during Revenue expenses to Cryptyde for complete legal year. was July personal continuing Nation number work transactions

the described of in significantly warrant the and losses liabilities As earlier, issuance revaluation to impacted quarter. related net was our by during million loss the the XXX

results per for Our without share. or was of to XXX When basis, of net refer million our losses $X.XX impact the was to announcing expenses million activity, cash release quarter cash flow the per reconciliations. corresponding on statement, our XXX our net press the [indiscernible] looking million income. at for quarter loss third the XX or a the On loss quarter, $X.XX the non-cash Please due related net warrant of for share. GAAP our significant use non-GAAP

of used was during which million the was the approximately XX our ended quarter. X.X months cash of for operations use XX, third September For net nine million,

totaling commensurate combination the nine In it. joint venture of current million has our ZASH, September loan addition, for months When believe viewed ended to the we business the in to provided XX perspective, with company's XX, I operations capital in quarter. anticipation are resources which and occurred the it XX cash a that available the during partner, third of this months

strong the a Lomotif, and most result sheet a Moving of the its cash in a I to notably its assets Lomotif reflects position in is the balance the intangible with highlighted also by assets of as company Balance sheet, believe balance. cash increase application. associated restricted consolidation

the of beginning to XX, our operations, convertible requirements sheet net of liability with Form XXX for increased with in assets in at understand encourage other capital the of company. important related reflects cost, million. the to with issuance the warrant note, section The company's balance to SEC I XXX the September further the the the to the information the million debt of year. along of aforementioned growth filed XX everyone liability results, is strongly our the as company As had working finally, XX-Q listed million on yesterday review and along impact details compared which of the

Wattum, new the SEC. for I to business. currently the filed And early Lisa global The and on on spin-off that bitcoin proposed closing contract I'd occur arrangement, services. everyone a technologies. wanted CW effort Cryptyde to to business with through the consumer the update ownership On preliminary will XXXX. integration joint remarks. will equipment turn mining distribution Cryptyde expect the Lastly, the We Form announced equipment November the call X, focused Machines Cryptyde like recently of back simplifying in of the supplier that, for of with XX was spin-off with mining the of be smart

Lisa King

on us excited you of we forward the joining the about quarter. you opportunities and Thank support. today. our your We're ahead appreciate and for on us, We next call interest to growth progress look updating

Operator

conference. today's concludes This

at for your lines Thank your disconnect this may you participation. You time.