Revenue Performance - For the six months ended June 30, 2024, total revenue was $26,684,981, an increase of approximately $5,768,625 compared to $20,916,356 for the same period in 2023[119]. - Revenue from the entertainment publicity and marketing segment for the three months ended June 30, 2024 was $11,449,089, up from $11,024,935 in the same period of 2023, reflecting an increase of approximately $424,154[119]. - Revenue from content production for the six months ended June 30, 2024 was $3,421,141, attributed to the release of "The Blue Angels" documentary film[120]. - The acquisition of Special Projects in 2023 contributed approximately $1.6 million in revenue for the six months ended June 30, 2024, which was not present in 2023[119]. - The entertainment publicity and marketing segment accounted for 86.9% of total revenue for the six months ended June 30, 2024, while content production accounted for 13.1%[116]. - The company recorded $3,421,141 in revenue related to the Amazon Agreement for "The Blue Angels" during the six months ended June 30, 2024[115]. Expenses and Losses - Total expenses for the three months ended June 30, 2024, were approximately $12.57 million, a decrease from $18.48 million for the same period in 2023, while total expenses for the six months ended June 30, 2024, were $27.64 million compared to $30.93 million in 2023[121]. - Payroll and benefits expenses increased by approximately $0.5 million and $1.0 million for the three and six months ended June 30, 2024, respectively, primarily due to the inclusion of Special Projects payroll expenses[122]. - Net loss for the three months ended June 30, 2024, was approximately $1.6 million or $(0.08) per share, compared to a net loss of approximately $8.0 million or $(0.60) per share for the same period in 2023[129]. Cash Flow and Debt - Cash provided by operating activities was $0.66 million for the six months ended June 30, 2024, a change of $3.77 million from cash used in operating activities of $3.1 million for the same period in 2023[132]. - Total debt amounted to $20.9 million as of June 30, 2024, an increase of $1.6 million from $19.3 million as of December 31, 2023[135]. - Cash and cash equivalents at the end of the period were $9.85 million as of June 30, 2024, compared to $8.13 million at the end of the same period in 2023[131]. - Cash flows provided by financing activities for the six months ended June 30, 2024, were $2.76 million, compared to $4.05 million for the same period in 2023[134]. Impairment and Tax - Impairment of goodwill was $0.2 million for both the three and six months ended June 30, 2024, compared to $6.5 million for the same periods in 2023[123]. - The company recorded an income tax expense of approximately $23.5 thousand and $47.1 thousand for the three and six months ended June 30, 2024, respectively[128]. Stock and Financing Activities - The company sold 950,000 shares of its common stock during the six months ended June 30, 2024, receiving proceeds of $1.19 million[137]. - As of June 30, 2024, the Company has ten convertible notes payable outstanding with a principal balance of $5,100,000 recorded in noncurrent liabilities[140]. - Interest expense related to convertible notes payable was $127,500 for Q2 2024, a decrease of 10% from $141,583 in Q2 2023[140]. - The Company recorded gains in fair value of $40,000 for Q2 2024, compared to $4,000 in Q2 2023, indicating a significant increase in fair value[142]. - The Company has outstanding unsecured nonconvertible promissory notes totaling $3,880,000, with interest expenses of $97,000 for Q2 2024, down from $153,468 in Q2 2023[144]. - The Socialyte Promissory Note, amounting to $3,000,000, has accrued interest of $30,000 for Q2 2024, with no payments made during the period[146]. - The Company entered into a loan agreement with BankUnited, including a $5,800,000 secured term loan and a $750,000 revolving line of credit[150]. - As of June 30, 2024, the principal outstanding under the BKU Term Loan was $5,002,520, a decrease from $5,482,614 as of December 31, 2023[154]. - The Company recorded interest expense of $68,760 for the Mock Notes in Q2 2024, compared to $27,621 in Q2 2023, reflecting an increase in interest costs[149]. - The BankUnited Loan Agreement requires the Company to maintain a minimum debt service coverage ratio of 1.25:1.00 and a maximum funded debt/EBITDA ratio of 3.00:1.00[152]. - The Company has filed a lawsuit against the seller of Socialyte related to the Socialyte Purchase Agreement, impacting the payment schedule of the promissory note[146]. Strategic Initiatives - The company has established an acquisition strategy to identify and acquire complementary businesses, with the acquisition of Elle Communications, LLC completed in July 2024[102]. - The company plans to enter into additional investments in 2024 under its "Ventures" strategy, focusing on entertainment content, live events, and consumer products[103]. - The company expects growth in its Talent departments due to increasing demand for strategic communication services in the entertainment industry[107]. - The company has a stable client base and continues to grow organically through referrals and new business solicitations[106].

Financial Performance - Total revenue for Q2 2024 was $11.4 million, a 4% increase compared to Q2 2023[2] - Adjusted operating income for H1 2024 was $0.9 million, compared to an adjusted operating loss of $1.9 million for H1 2023[3] - Operating loss for Q2 2024 was $1.1 million, significantly improved from an operating loss of $7.5 million in Q2 2023[2] - Revenues for the three months ended June 30, 2024, were $11,449,089, a 3.9% increase from $11,024,935 for the same period in 2023[19] - Net loss for the three months ended June 30, 2024, was $(1,624,458), compared to a net loss of $(7,959,244) for the same period in 2023, representing a 79.6% improvement[19] - Adjusted (loss) income from operations (non-GAAP) for the three months ended June 30, 2024, was $(136,956), compared to $(52,758) for the same period in 2023[22] - The company reported a loss per share of $(0.08) for the three months ended June 30, 2024, compared to $(0.60) for the same period in 2023[19] Cash and Liabilities - Cash and cash equivalents increased to $9.8 million as of June 30, 2024, up from $7.6 million as of December 31, 2023[4] - Total current liabilities decreased to $26,010,166 as of June 30, 2024, from $27,454,045 as of December 31, 2023, a reduction of 5.3%[17] - Total liabilities decreased to $45,145,965 as of June 30, 2024, from $46,298,129 as of December 31, 2023, a decline of 2.5%[17] - Total stockholders' equity increased to $20,427,970 as of June 30, 2024, from $19,956,845 as of December 31, 2023, a growth of 2.4%[18] Operating Expenses - Operating expenses for Q2 2024 were $12.6 million, down from $18.5 million in Q2 2023[3] - Total expenses for the three months ended June 30, 2024, were $12,568,554, a decrease from $18,475,674 for the same period in 2023, reflecting a 32.0% reduction[22] - Payroll and benefits expenses increased to $9,195,018 for the three months ended June 30, 2024, from $8,677,493 for the same period in 2023, an increase of 6.0%[19] Business Developments - The film "Blue Angels" grossed $2,082,327 at the box office during its one-week IMAX run, debuting at 1 on Prime Video[5] - The newly launched Staple Gin received a Double Gold and a 96-point rating at the 15th Annual New York International Spirits Competition[5] - The acquisition of Elle Communications aims to enhance Dolphin's capabilities in the Impact PR space[6] - Dolphin anticipates launching a sports company to complement its entertainment market position[1] - The company expects to close on its next Ventures opportunity, continuing its strategy of generating immediate service revenues[1] Share Information - The company had a weighted average number of shares outstanding of 19,446,310 for the three months ended June 30, 2024, compared to 13,212,311 for the same period in 2023, an increase of 47.0%[19]

Revenue and Growth - For the three months ended March 31, 2024, total revenue increased to $15.24 million, up from $9.89 million in the same period of 2023, representing a growth of approximately 54%[134]. - Revenue from the entertainment publicity and marketing segment was $11.81 million, an increase of approximately $1.9 million compared to the prior year, while content production revenue was $3.42 million, attributed to "The Blue Angels" documentary[134][136]. - The entertainment publicity and marketing segment accounted for 78% of total revenue for the three months ended March 31, 2024, while content production contributed 22%[131]. Expenses and Costs - Direct costs rose to $2.32 million for the three months ended March 31, 2024, compared to $0.22 million in the same period of 2023, primarily due to $1.8 million of capitalized production costs for "The Blue Angels"[137]. - Payroll and benefits expenses increased to $9.57 million, up from $9.05 million in the prior year, mainly due to the inclusion of Special Projects payroll expenses[138]. - Selling, general and administrative expenses were $1.98 million, a slight increase from $1.87 million, primarily due to the inclusion of Special Projects expenses[139]. Acquisitions and Strategic Initiatives - The company completed the acquisition of Special Projects in 2023 and plans to pursue at least one additional acquisition in 2024[121]. - The company is in various stages of discussions for potential acquisitions that complement its existing services in entertainment publicity and marketing[121]. - The company has established an investment strategy, "Ventures" or "Dolphin 2.0," focusing on developing internally owned assets and acquiring stakes in entertainment content, live events, and consumer products[122]. Financial Performance - Net loss for the three months ended March 31, 2024, was approximately $0.3 million or $0.02 per share, compared to a net loss of approximately $3.0 million or $0.23 per share for the same period in 2023[150]. - Cash used in operating activities was $983,229 for the three months ended March 31, 2024, a decrease from $1,424,822 in the same period in 2023[152]. - Interest income decreased by approximately $0.1 million for the three months ended March 31, 2024, primarily due to the write-off of notes receivable in Q4 2023[145]. - Interest expense increased by $0.1 million for the three months ended March 31, 2024, attributed to higher convertible and nonconvertible notes and term loans outstanding[146]. Debt and Financing - Total debt increased to $20.0 million as of March 31, 2024, from $19.3 million as of December 31, 2023, primarily due to an increase in related party nonconvertible promissory notes[156]. - The Company issued a nonconvertible promissory note of $900,000 to its CEO's brother, with an interest rate of 10% per annum, maturing on January 16, 2029, and recorded $18,500 in interest expense for the three months ended March 31, 2024[175]. - The BankUnited Loan Agreement includes a $5,800,000 secured term loan, a $750,000 secured revolving line of credit, and a $400,000 commercial card, refinancing the previous credit facility with BankProv[176][177]. - The BKU Term Loan has an 8.10% fixed interest rate, with principal and interest payable monthly based on a 5-year amortization schedule[179]. - As of March 31, 2024, the outstanding principal under the BKU Term Loan was $5,244,498, down from $5,482,614 as of December 31, 2023[181]. - The Company must maintain a minimum debt service coverage ratio of 1.25:1.00 and a maximum funded debt/EBITDA ratio of 3.00:1.00 under the BankUnited Credit Facility, and was in compliance with these covenants as of March 31, 2024[180]. - The Company recorded approximately $4,206 in amortization of debt origination costs as part of interest expense for the three months ended March 31, 2024[182]. - The BKU Line of Credit had a principal balance of $400,000 as of March 31, 2024, with no usage of the BKU Commercial Card during the same period[181][183]. Other Financial Information - The change in fair value of contingent consideration resulted in a loss of $15.5 thousand for the three months ended March 31, 2023, with the contingent consideration settled on April 25, 2023[141]. - The company recorded a gain in fair value of $25,000 for the convertible note at fair value for the three months ended March 31, 2024, compared to a loss of $10,444 for the same period in 2023[169]. - The company sold 350,000 shares of common stock during the three months ended March 31, 2024, generating proceeds of $495,200[160]. - The Company recorded interest expense of $127,750 related to convertible notes payable for the three months ended March 31, 2024, compared to $144,556 for the same period in 2023[165]. - The Socialyte Promissory Note, amounting to $3,000,000, matured on September 30, 2023, with interest expense recorded at $30,000 for the three months ended March 31, 2024[174]. Compliance and Reporting - The Company is subject to financial covenants that are tested semi-annually on a trailing twelve-month basis[180]. - The Company’s financial statements are prepared in accordance with U.S. GAAP, requiring management to make estimates and assumptions that could materially impact the consolidated financial statements[184][185]. - Forward-looking statements in the Quarterly Report are based on assumptions and are subject to risks and uncertainties that could cause actual results to differ materially[190][192]. Upcoming Releases - The Blue Angels documentary is set to be released in theaters on May 17, 2024, and will be available for streaming on Amazon Prime Video on May 23, 2024[130].

Financial Data and Key Metrics Changes - Total revenue for Q1 2024 was $15.2 million, a 54% increase compared to $9.9 million in Q1 2023, and a 27% increase over the previous quarterly record of $12 million set in Q4 2023 [5][24] - The company reported positive adjusted operating income of $1 million, a significant improvement from the adjusted operating loss of $1.9 million in Q1 2023, representing a sequential increase of 236% over the positive operating income of $23 million reported for Q4 2023 [6][24] - Operating expenses for Q1 2024 were $15.1 million, compared to $12.5 million in Q1 2023 [24] Business Line Data and Key Metrics Changes - The Blue Angels documentary contributed $3.4 million in revenue during Q1 2024, with expectations for additional revenue as it enters institutional IMAX theaters [16][24] - The digital department expanded its capabilities by partnering with GlowLab for skincare and Osbrink for a young adult division, indicating a strategic move to tap into the growing influencer market [13][36] Market Data and Key Metrics Changes - The company anticipates significant revenue from the Blue Angels documentary through its extended run in institutional theaters, which could provide a lucrative multi-year box office tail [17] - The liquor market is highlighted as a new growth area, with the successful launch of Staple Gin, which has already gained recognition as the highest-rated American gin [20][21] Company Strategy and Development Direction - The company is focused on organic expansion among its marketing entities and launching complementary ventures, aiming for sustained growth in revenue and adjusted operating income [6][7] - The strategy includes securing ownership stakes in ventures without capital outlay, which is expected to unlock compounding returns and continuous value creation [7][23] - The company plans to announce a new operating partner for its restaurant theater, Midnight Theater, within May 2024 [22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's growth potential, emphasizing that the first quarter results validate their strategy and that they are just getting started [23][68] - The company expects the second half of the year to be stronger, traditionally seeing higher performance due to increased influencer marketing during the holiday season [47] Other Important Information - Cash and cash equivalents were $7.5 million as of March 31, 2024, compared to $7.6 million as of December 31, 2023 [25] - The company is evaluating opportunities in the liquor space and aims to introduce a skincare product by 2025 [64] Q&A Session Summary Question: Can you provide details on the revenue and production costs for Blue Angels? - Management indicated that while immediate revenue may not be significant in the next quarters, substantial revenue is expected once the film is in theaters and IMAX institutional theaters [28] Question: How many institutional theaters are contracted for Blue Angels? - Management expects the film to play in 150 to 200 institutional theaters, anticipating a long revenue tail from this distribution [29] Question: What is the performance of the digital department with the new verticals? - The digital department has seen immediate revenue and profit from the new skincare and young adult divisions, with significant potential for expansion in the beauty market [36] Question: Can you elaborate on the marketing strategy for Staple Gin? - The partnership with Rachael Ray and Do Good Spirits is expected to elevate the brand through innovative marketing strategies, with plans for national distribution [39] Question: What are the expectations for operating expenses in the coming quarters? - Management noted that operating expenses may vary with revenue, particularly in relation to the amortization of production costs for projects like Blue Angels [48]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR 150 Alhambra Circle, Suite 1200, Coral Gables, FL 33134 (Address of principal executive of ices) (Zip Code) Registrant's telephone number: (305) 774-0407 Securities registered pursuant to Section 12(b) of the Act: | Title of each class | Trading Symbol(s) | Name of each exchange on wh ...

Dolphin Entertainment, Inc. (NASDAQ:DLPN) Q4 2023 Earnings Conference Call March 28, 2024 4:30 PM ET Company Participants James Carbonara - Hayden IR Bill O'Dowd - Chief Executive Officer Mirta Negrini - Chief Financial Officer Conference Call Participants Allen Klee - Maxim Operator Greetings. Welcome to the Dolphin Entertainment Fourth Quarter 2023 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructi ...

Dolphin Entertainment, Inc. (NASDAQ:DLPN) Q3 2023 Earnings Conference Call November 14, 2023 4:30 PM ET Company Participants James Carbonara - IR William O'Dowd - CEO Mirta Negrini - CFO Conference Call Participants Allen Klee - Maxim Group Operator Good day, ladies and gentlemen, and welcome to the Dolphin Entertainment Third Quarter 2023 Earnings Call. [Operator Instructions] At this time, it is my pleasure to turn the floor over to your host, James Carbonara, Investor Relations. Sir, the floor is yours. ...

WASHINGTON, DC 20549 UNITED STATES SECURITIES AND EXCHANGE COMMISSION ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ——————— FORM 10-Q ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission file number: 001-38331 DOLPHIN ENTERTAINMENT, INC. (Exact name of registrant as specified in its charter) ——————— (State or ...

Dolphin Entertainment, Inc. (NASDAQ:DLPN) Q2 2023 Results Conference Call August 14, 2023 4:30 PM ET Company Participants James Carbonara - IR Bill O’Dowd - CEO Mirta Negrini - CFO Conference Call Participants Allen Klee - Maxim Group Operator Greetings, and welcome to Dolphin Entertainment's Second Quarter 2023 Earnings Call. [Operator Instructions]. Please note that this conference is being recorded. I will now turn the conference over to your host, James Carbonara, Investor Relations. You may begin. Jam ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 ——————— FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission file number: 001-38331 DOLPHIN ENTERTAINMENT, INC. (Exact name of registrant as specified in its charter) ——————— (State or othe ...