Chicken Soup for The Soul Entertainment, Inc. (NASDAQ:CSSE) Q4 2022 Earnings Conference Call March 31, 2023 8:45 AM ET

Company Participants

Zaia Lawandow - Head, IR

William Rouhana - Chairman & CEO

Jason Meier - CFO & CAO

Conference Call Participants

Thomas Forte - D.A. Davidson & Co.

Eric Wold - B. Riley Securities

Daniel Kurnos - The Benchmark Company

Michael Grondahl - Northland Capital Markets

Good day, and thank you for standing by. Welcome to the Chicken Soup for the Soul Entertainment Fourth Quarter 2022 Earnings Call. [Operator Instructions].

I would now like to hand the conference over to your speaker today, Zaia Lawandow, Head of Investor Relations. Please go ahead.

Zaia Lawandow

Thank you, Kevin. Good morning, and thank you all for joining us. We'll begin with opening remarks from our Chairman and CEO, William Rouhana, followed by remarks from our CFO, Jason Meier. After their remarks, we'll open the call for questions.

The matters discussed on this call include forward-looking statements including those regarding the performance of future fiscal years. Such statements are subject to a number of risks and uncertainties. Actual results could differ materially and adversely from those described in the forward-looking statements as a result of various factors. This includes the factors set forth in Chicken Soup for the Soul Entertainment's most recent annual report on Form 10-K and in our most recently filed quarterly report on Form 10-Q.

The company undertakes no obligation to update any forward-looking statement. Please refer to the earnings release under the News and Events tab in the Investor Relations section of the company's website for a discussion of certain non-GAAP forward-looking measures discussed on this call.

And with that, I'll turn the call over to William Rouhana, Chairman and CEO. Bill, please go ahead.

William Rouhana

Thank you, Zaia. and welcome, everyone. And thank you for being flexible as we had to adjust the timing of the call in order to take advantage of the opportunity to raise a bit of capital, as you saw in our filing this morning, and I'll discuss that in greater detail in a moment.

But first, let me talk about -- a little bit about the past year. 2022 was a year of transformation, not only for our industry but for our company as well. Total annual revenue for the company was $253 million, up 129% over last year, and adjusted EBITDA was $33.5 million, up 53% in the same period. We hit our revenue run rate of $500 million in revenue and $100 million to $150 million of adjusted EBITDA as we planned.