Destiny Media Technologies Inc. Announces Fiscal 2025 Second Quarter Results

Vancouver, British Columbia–(Newsfile Corp. – April 14, 2025) – Destiny Media Technologies Inc. (TSXV: DSY) (OTCQB: DSNY), the makers of Play MPE®, a cloud-based SaaS solution for digital asset management in the music industry, today announced financial results for its fiscal 2025 second quarter ended February 28, 2025.

“We achieved a 3.3% increase in revenue this quarter reflecting the resilience of our platform and continued adoption by new clients,” said Fred Vandenberg, CEO. “We made significant development progress on our new checkout experience, which is designed to scale our revenue growth more effectively. We also added a new features to Play MPE to help accelerate network expansion by empowering our clients to grow the ecosystem organically.”

Financial Highlights

Q2 FY2025 vs Q2 FY2024

Revenue $1M, an increase of 3.3%

Net loss of $0.3M, largely from one-time litigation costs

Adjusted EBITDA of ($0.12M) (2024 – ($0.05M)

20% growth in MTR™ revenue Q over Q.

Fiscal 2025 Second Quarter Earnings Webinar

Destiny Media Technologies will hold a live webinar on Monday, April 14, 2025 at 2:00 p.m. Pacific Standard Time (5:00 p.m. Eastern Standard Time) to discuss financial results for its fiscal 2025 Second quarter ended February 28, 2025.

Date: Monday, April 14, 2025
Time: 2:00 p.m. Pacific Standard Time (5:00 p.m. Eastern Standard Time)

Attendees are encouraged to register prior to the scheduled time at the following:

https://investors.dsny.com/investors/financials/ or by clicking on the Webinar Registration Form.

Attendees of the webinar can submit questions voluntarily during the live presentation. Cameras will remain off for all attendees throughout the session. Microphones will also remain muted unless an attendee chooses to engage in verbal questions, similar to the format used in traditional conference calls.

The webinar format will provide the Company an opportunity to present visual information.

For those without internet access, the webinar can be accessed via the following dial in details:

Direct dial in US: +1 346 248 7799 or +1 360 209 5623 or More International numbers
Webinar ID: 817 1581 2583

Attendees participating via dial-in will not have access to the webinar video stream or the question and answer functions.

A recording of the webinar will be available after the event at https://investors.dsny.com/investors/financials/

About Destiny Media Technologies Inc.

Destiny Media Technologies (“Destiny”) provides software as service (SaaS) solutions to businesses in the music industry solving critical problems in distribution and promotion. The core service, Play MPE® (www.plaympe.com), provides promotional music marketing to engaged networks of decision makers in radio, film, TV, and beyond. More information can be found at www.dsny.com.

Forward-Looking Statements

This release contains forward-looking statements that reflect current views with respect to future events and operating performance. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected in these forward-looking statements. Destiny Media Technologies is not obligated to update these statements in the future. For more information on the Company’s risks and uncertainties relating to those forward-looking statements, please refer to the Risk Factors section in our Annual Form 10-K for the fiscal year ended August 31, 2024, which is available on www.sedar.com or www.sec.gov.

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DESTINY MEDIA TECHNOLOGIES, INC.
Condensed Consolidated Statements of Comprehensive Income
(Unaudited)

Three months ended

Six months ended

Notes

February 28, 2025

February 29, 2024

February 28, 2025

February 29, 2024

Service revenue8 $1,018,972
$986,338
$2,245,729
$2,141,140

Cost of revenue

Hosting costs

41,387

32,383

88,328

60,656
Internal engineering support

13,768

12,926

27,133

29,996
Customer support

78,020

73,247

153,753

169,975
Third-party and transactions costs

16,112

16,790

36,188

38,137

149,287

135,346

305,402

298,764
Gross margin

869,685

850,992

1,940,327

1,842,376

85.3%

86.3%

86.4%

86.0%
Operating expenses

General and administrative

394,890

205,255

546,219

353,147
Sales and marketing

171,923

285,001

402,481

500,858
Product development

427,735

419,183

839,779

727,730
Depreciation and amortization4,5
183,724

87,026

350,703

168,124

1,178,272

996,465

2,139,182

1,749,859
Income (loss) from operations

(308,587)
(145,473)
(198,855)
92,517

Other income

Interest and other income

6,493

15,461

14,901

26,987
Net income (loss) before income tax
$(302,094)$(130,012)$(183,954)$119,504
Current income tax expense

–

–

–

–
Net income (loss)
$(302,094)$(130,012)$(183,954)$119,504
Foreign currency translation adjustments
(85,967)
2,341

(198,636)
(10,351)Total comprehensive income (loss)
$(388,061)$(127,671)$(382,590)$109,153

Net income (loss) per common share

Basic and diluted6 $(0.03)$(0.01)$(0.02)$0.01

Weighted average common shares outstanding:

Basic6
9,637,410

9,842,720

9,637,410

9,926,627
Diluted6
9,637,410

10,107,554

9,637,410

10,191,461

DESTINY MEDIA TECHNOLOGIES, INC.
Condensed Consolidated Balance Sheets

Notes
February 28, 2025

August 31,
2024

(unaudited)

(audited)
ASSETS

Cash and cash equivalents3 $1,216,378
$1,481,582
Accounts receivable, net of allowance for credit losses of $31,525
(August 31, 2024 – $41,334)

726,973

681,146
Other receivables

108,246

82,585
Prepaid expenses

42,910

87,345
Deposits

30,253

32,347
Total current assets

2,124,760

2,365,005

Property and equipment, net4
958,074

1,174,370
Intangible assets, net5
155,958

148,977
Total assets
$3,238,792
$3,688,352

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current

Accounts payable
$156,294
$151,734
Accrued liabilities

252,625

328,801
Deferred revenue

28,142

42,399
Total current liabilities

437,061

522,934
Total liabilities

437,061

522,934

Stockholders’ equity

Common stock, par value $0.001, authorized 20,000,000 shares.
Issued and outstanding – 9,637,410 shares (August 31, 2024 – 9,637,410 shares)6
9,637

9,637
Additional paid-in capital

8,838,688

8,819,785
Accumulated deficit

(5,376,563)
(5,192,609)Accumulated other comprehensive loss

(670,031)
(471,395)Total stockholders’ equity

2,801,731

3,165,418
Total liabilities and stockholders’ equity
$3,238,792
$3,688,352

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