Q1 2023 Highlights

  • Revenue increased 12% to $126.7 million in Q1 2023, compared to $112.6 million in Q1 2022.
  • Net loss was $7.6 million in Q1 2023, compared to net loss of $21.4 million in Q1 2022.
  • Adjusted EBITDA1 in Q1 2023 was $19.9 millionconsistent with $19.9 million in Q1 2022.
  • Cash used in operating activities in Q1 2023 was $23.3 millioncompared to $11.4 million provided by operating activities in Q1 2022.
  • Free Cash Flow1 for Q1 2023 was negative $8.9 millioncompared with negative Free Cash Flow1 of $19.9 million in Q1 2022.

HALIFAX, NS, Nov. 9, 2022 /PRNewswire/ – WildBrain Ltd. (“WildBrain” or the “Company”) (TSX:WILD), a global leader in kids’ and family entertainment, today reported its first-quarter (“Q1 2023”) results for the period ended September 30, 2022.

Eric EllenbogenWildBrain CEO, said: “Fiscal 2023 is off to a good start with solid top-line growth, particularly in our content production and distribution segments. Our content continues to resonate with distribution partners around the world who value premium, high-quality shows for our beloved brands, such as Caillou, Chip and Potato and Teletubbies. Sonic Primea new series we are co-producing with SEGA, premieres on December 15th on Netflix. We continue to layer on more premium content deals to drive consumer products upside and grow our long-term earnings base.

“For Peanuts, in particular, our consistent output of new content on Apple TV+ and the synergies of our vertically integrated business are furthering what we see as a long runway for growth in consumer products. We’re continuing to find innovative ways under our 360 -degree strategy to connect with audiences across the globe through multi-platform content and consumer products.”

Aaron AmesWildBrain CFO, added: “Q1 2023 results were strong as we continue to build on the investments we’ve made in the business to increase monetization of our assets and provide a solid foundation for sustainable growth. We increased our revolving credit facility after quarter end to provide greater financial flexibility. We remain comfortable with our leverage, and we expect leverage to continue to decline over time. We reiterate our guidance for Fiscal 2023 revenue in the range of $525 million to $575 million and adjusted EBITDA between $95 million to $105 million.”

Q1 2023 Performance Executing on Priorities



Activate IP and Grow Key Brands

  • Announced Teletubbies Let’s Go!a brand-new animated series for WildBrain Spark which began rolling out at the end of October. This followed our previous announcement of a refreshed live-action version for Netflix, featuring new creative elements, which launches this November.
  • Premiered additional new Peanuts content on Apple TV+ in August, including more new episodes of The Snoopy Show Season 2 plus the fourth original family special, Lucy’s School.
  • Launched the first plush toys for the Chip and Potato brand online with Walmart and Amazon, as the newest episodes for the preschool series debuted as a top-ten show on Netflix in the US this October.
  • Appointed PMI as novelty toy and games consumer products partner for Sonic Primewhich premieres on Netflix on December 15, 2022 and is co-produced with SEGA. An exclusive line of Sonic Prime products from PMI is planned for a multi-territory launch in early 2023.

Deliver Sustainable Growth

  • Revenue grew 12% for the first quarter of 2023, reflecting strong demand for our branded content and IP.
  • Adjusted EBITDA1 was $19.9 million in Q1 2023 consistent with $19.9 million in Q1 2022.
  • Reaffirming our expectations for Fiscal 2023 for revenue of approximately $525 million to $575 million and adjusted EBITDA of approximately $95 million to $105 million.

Q1 2023 Financial Highlights

Financial Highlights

(in millions of Cdn$)

Three Months ended

September 30,






Full story available on Benzinga.com

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