Company announces conclusion of strategic review process
MONTREAL, Feb. 13, 2024 (GLOBE NEWSWIRE) — D-BOX Technologies Inc. (“D-BOX” or the “Corporation”) (TSX:DBO) a world leader in haptic and immersive experiences, today reported financial results for the third quarter ended December 31, 2023. All dollar amounts are expressed in Canadian currency.
Q3 FISCAL 2024 HIGHLIGHTS
(Compared to Q3 fiscal 2023)
Total revenues decreased 23% to $8.1 million;
System sales decreased 21% to $6.7 million;
Rights for use, rental and maintenance revenues decreased 29% to $1.4 million;
19 net new screens installed, bringing the total number of active D-BOX cinema screens to 898 as at December 31, 2023;
Adjusted EBITDA decreased from $0.5 million to $0.1 million;
Net loss increased from $0.1 million to $0.4 million.
“Our fiscal year-to-date results remain well ahead of last year at this time; however, as expected, our third quarter results were impacted by the 2023 strikes in Hollywood,” said Sébastien Mailhot, President and Chief Executive Officer of D-BOX. “Those work stoppages delayed the box office releases of certain movies, reducing our rights for use revenues, and postponed some capital spending by our cinema partners, affecting our system sales revenues. This temporary issue did not impact our business in sim racing or professional simulation and training. Nevertheless, we continue to manage expenses where appropriate and remain focused on resuming our path of profitable growth.”
(Amounts are in thousands of Canadian dollars)
Three-month periods
ended December 31
Nine-month periods
ended December 31
2023
2022
2023
2022
Total revenues
8,075
10,455
29,418
23,710
Rights for use, rental and maintenance revenues
1,418
2,009
6,573
6,572
System sales revenues
6,657
8,446
22,845
17,138
Gross profit excluding amortization*
4,033
4,982
14,821
12,568
Net profit (loss)
(425
)
(110
)
473
(823
)
Adjusted EBITDA*
90
491
2,438
1,128
*See the Non-IFRS Financial Performance Measures section in this news release for more information.