NETWORK MEDIA GROUP ANNOUNCES 2025 SECOND QUARTER RESULTS
Network President Curtis White stated, "This quarter's financial results reflect a greater focus on creating and delivering independently financed proprietary content backed by strategic partners. We are encouraged by the support of our expanding network of partners and grateful for the critical acclaim and award recognition we are receiving in the marketplace, most recently with this month's Emmy nomination for our Sly and the Family Stone feature documentary, Sly Lives! (aka The Burden of Black Genius)."
Key metrics for Network's six months ended Q2 2025 include the following highlights:
Backlog of $8.5M with $5.9M to be recorded in the next six months and $2.6M beyond seven months;
Revenues of $2,517,033 (Q2 2024 - $5,135,785);
Net loss of $478,500 - $0.03 per share (Q2 2024 Net loss of $1,360,744 - $0.08 per share); and
Adjusted EBITDA loss of $37,476 - $0.01 per share (Q2 2024 Adjusted EBITDA loss of $699,925 - $0.04 per share).
Operational highlights for the quarter include:
Continued production on four feature-length documentaries and a five-episode documentary series.
Our Brats feature documentary, directed by original Brat Pack member Andrew McCarthy, in partnership with NEON and ABC News, received significant recognition at the 2025 Webby Awards, winning in two categories:
Webby Winner – Video & Film: Documentary
People's Voice Winner – Video & Film: Documentary
Strategic distribution announcement with Elevation Pictures for the Canadian distribution of our I Am feature documentaries, commencing with three new highly anticipated titles, I Am Luke Perry, I Am Raquel Welch and I Am Joe Frazier, which premiered on Crave on June 9 th, June 16 th, and June 23 rd, respectively.
1"Adjusted EBITDA" is calculated based on EBITDA (known as earnings/loss before interest, taxes, depreciation, and amortization) plus share-based payments expense, finance costs (income), foreign exchange gain (loss), and losses and other items of an unusual nature that do not reflect ongoing operations. EBITDA and Adjusted EBITDA are commonly reported and widely used by investors and lenders as an indicator of a company's operating performance and ability to incur and service debt, and as a valuation metric. EBITDA and Adjusted EBITDA are not an earnings measures recognized by IFRS and therefore do not have a standardized meaning prescribed by IFRS. Therefore, EBITDA and Adjusted EBITDA may not be comparable to similar measures presented by other issuers.
2 The Company uses the non-IFRS measure "backlog", which is defined as the undiscounted value of signed agreements for production services for work that has not yet been performed, but which the Company expects to recognize revenue in future periods. The extent of eventual revenue recognized in future periods may be materially higher or lower than this amount, depending upon assumptions and expectations that include, but are not limited to the following: the terms of the contracts will not be altered; delivery of the Company's products will occur as scheduled; the purchasing party will make payment as and when due under the contract, and will comply with all payment terms; the US-Canadian currency exchange rates remain stable (assumed to be 1.35 USD-CDN for the purposes of the estimates made herein); no unforeseen event interrupts business in the ordinary course; and the purchasing party will pay, or has paid, Network on a pro-rata to percent completed for a film or episode that is in progress. Should conditions change, the revenue estimates may not be met and actual results may differ, perhaps materially.
About Network Media Group / Network Entertainment
Network Media Group is the parent company of Network Entertainment Inc.
Network Entertainment is a creatively driven, boutique film, television, and digital content production company that creates, finances and produces award-winning programming for television, digital platforms, and movie audiences around the world.
The Network premium brand of content delivers world-class casts and features visually cinematic, richly crafted storytelling. The Company's productions are consistently embraced by both audiences and critics alike, garnering awards, record ratings, and unparalleled media coverage for Network and its partners.
For additional information on Network Entertainment Inc., visit www.networkentertainment.ca.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement on Non-IFRS Financial Measures and Forward-looking Information
In addition to results reported in accordance with IFRS, this news release refers to certain non-IFRS financial measures as supplemental indicators of the Company's financial and operating performance. These non-IFRS financial measures include EBITDA, Adjusted EBITDA and Future Contracted Production Revenue (commonly referred to as backlog). The Company believes these supplemental financial measures reflect the Company's ongoing business in a manner that assist the reader's meaningful period-to-period comparisons and analysis of trends in its business.
Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. These statements are necessarily based upon management's perceptions, beliefs, assumptions and expectations, as well as a number of specific factors and assumptions that, while considered reasonable by management of the Company as of the date of such statements are inherently subject to significant uncertainties and contingencies that could result in the forward-looking information ultimately, perhaps materially, being incorrect. All forward-looking information in this news release involves known and unknown risks, uncertainties and other factors that are beyond the control of the Company and may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Except as required pursuant to applicable securities laws, the Company will not update these forward-looking statements to reflect events or circumstances after the date hereof.
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