Dolphin Entertainment, Inc. (NASDAQ:DLPN) Q2 2024 Earnings Conference Call August 14, 2024 4:30 PM ET

Company Participants

James Carbonara - Hayden, IR
Bill O'Dowd - CEO
Mirta Negrini - CFO

Conference Call Participants

Allen Klee - Maxim Group

Operator

Greetings and welcome to the Dolphin Entertainment Second Quarter 2024 Earnings Call. At this time, all participants are in a listen-only mode and a question-and-answer session will follow the formal presentation. [Operator Instructions] Please note this call is being recorded.

I will now turn the conference over to your host, Mr. James Carbonara with Hayden IR. Sir, the floor is yours.

James Carbonara

Thank you, operator. Good afternoon and thank you for joining us today for Dolphin Entertainment’s second quarter 2024 earnings call.

Before we begin, I’d like to remind everyone that during the course of this conference call, management may make forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and beliefs and involve risks and uncertainties that could differ materially from actual events.

Please refer to the cautionary text regarding forward-looking statements contained in the earnings release published earlier today as well as the most recent SEC filings and reports.

During the call today, management will also discuss non-GAAP financial measures, including adjusted operating income or loss. The company believes these will provide helpful information for investors. Reconciliations to the most comparable GAAP measures are provided in the earnings release.

Now, I would like to turn the call over to Bill O'Dowd, Chief Executive Officer of Dolphin Entertainment. Bill, please go ahead.

Bill O'Dowd

Thanks James and welcome everyone. I’ll start by reviewing some of the key financial and operating highlights from our record setting second quarter of 2024 and then Mirta will provide a more detailed financial overview before we open it up for Q&A.

Starting with the headlines, well, as you may have seen in our earnings release of a few minutes ago, total revenue for Q2 was $11.4 million, bringing first half revenue to $26.6 million.

We expect the second half of the year to be even stronger than the first half, positioning Dolphin well for fiscal year 2024 revenue to exceed our goal of $50 million, as we aim for more than 20% year-over-year growth.

On the bottom-line, in Q2, adjusted -- our Q2 adjusted operating loss was $100,000. And in first half 2024, we generated a positive adjusted operating income of approximately $900,000.