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Dolphin Entertainment Inc. (DLPN+3.88%) has filed its annual report on Form 10-K for the fiscal year ended December 31, 2024. The filing is available for review filing.
The report details Dolphin's operations in two segments: Entertainment Publicity and Marketing, and Content Production. The Entertainment Publicity and Marketing segment includes subsidiaries like 42West, The Door, Shore Fire, The Digital Dept., Special Projects, Always Alpha, and Elle, providing marketing and publicity services. The Content Production segment is involved in producing and distributing digital content and films.
Dolphin reported total revenues of $51.68 million for 2024, with $48.26 million from its Entertainment Publicity and Marketing segment and $3.42 million from Content Production. The increase in revenue was attributed to growth across most subsidiaries and the inclusion of new acquisitions.
The company incurred a net loss of $12.6 million for the year, compared to a net loss of $24.4 million in 2023. The improvement was due to increased revenues and reduced impairment charges.
Dolphin's balance sheet as of December 31, 2024, shows total assets of $58.44 million and total liabilities of $46.79 million. Goodwill and intangible assets were significant components of the asset base.
The company completed the acquisition of Elle Communications, LLC in July 2024, expanding its presence in the social and environmental impact sector. The acquisition was valued at approximately $4.7 million.
Dolphin continues to focus on strategic growth through acquisitions and investments in ventures that align with its marketing capabilities. The company aims to leverage its expertise to drive future growth.
The filing also highlights Dolphin's debt obligations, including convertible notes and term loans, with total debt amounting to $22.4 million as of December 31, 2024.
Dolphin's management identified material weaknesses in internal controls over financial reporting, which the company is addressing with a remediation plan.
The report includes a discussion of various risks, including economic conditions, competition, and dependence on key personnel, which could impact future performance.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Dolphin Entertainment Inc. annual 10-K report dated March 27, 2025. To report an error, please email earnings@qz.com.