Thunderbird Leisure Group Studies Fiscal 2025 Q1 Outcomes

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Income elevated 36% year-over-year to $45.7 million

Adjusted EBITDA elevated 64% year-over-year to $4.1 million

Convention name and webcast tomorrow, November 21, at 11 a.m. PT/ 2 p.m. ET

VANCOUVER, British Columbia — Thunderbird Leisure Group Inc. (TSXV: TBRD, OTCQX: THBRF) (“Thunderbird” or the “Firm”) right now introduced its Q1 fiscal 2025 outcomes for the three-month interval ended September 30, 2024, and offered a company replace.

Monetary Abstract

• Income elevated 36% year-over-year from $33.6 million to $45.7 million for the three-month interval ended September 30, 2024. The sturdy quarterly consequence and total fiscal 2024 efficiency reveal the well being and success of the Firm. This progress was attributable to a rise in manufacturing service engagements within the quarter.
• AEBITDA¹ elevated 64% year-over-year from $2.5 million to $4.1 million for the three-month interval ended September 30, 2024. AEBITDA margins¹ elevated 150 foundation factors year-over-year from 7.4% to eight.9%. This enhance was attributable to the expansion in revenues and a discount generally and administrative prices over the comparative quarter.
• Free Money Circulate¹ of $9.7 million for the three-month interval ended September 30, 2024, representing a rise of $12.1 million from ($2.4 million) over the three-month interval within the comparative quarter. This was primarily attributed to the rise in deferred income, partially offset by the rise in tax credit receivable.
• Web revenue of $1.6 million for the three-month interval ended September 30, 2024, representing a rise of $2.3 million from ($0.7 million) over the three-month interval within the comparative quarter. This was attributable to the rise in revenues and a discount generally and administrative prices and amortization over the comparative quarter.

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Monetary Outlook

The Firm maintains its forecast of a return to top-line progress in fiscal 2025, concentrating on 20% income progress and over 10% AEBITDA¹ progress. The variance between income and AEBITDA¹ progress displays the anticipated gross margin¹ distinction related to the varieties of tasks being forecasted in fiscal 2025 in comparison with fiscal 2024. These targets are supported by a powerful content material pipeline, strategic investments and indicators of a stabilizing market setting.

The Firm continues to seek for efficiencies that can generate extra financial savings all through 2025 with out sacrificing the standard that the Firm is thought for. Thunderbird’s stability sheet stays sturdy, with no company debt, offering the monetary flexibility wanted to pursue progress alternatives. This power helps the Firm’s plans to put money into new content material manufacturing, a key driver of future progress. By aligning its content material technique with disciplined monetary oversight, Thunderbird is dedicated to delivering elevated worth to shareholders.

Thunderbird’s fiscal 2025 outlook is predicated on the Firm’s newest inside projections, although sure dangers stay, as detailed within the “Threat and Uncertainty” part of the Firm’s June 30, 2024, MD&A. With a transparent concentrate on executing its strategic priorities, Thunderbird is effectively positioned to achieve a aggressive and evolving market panorama.

“Thunderbird’s efficiency this quarter underscores our resilience and strategic concentrate on driving worthwhile progress in a difficult leisure trade panorama. With a 36% enhance in income, a 64% rise in AEBITDA, and a considerable enhance in free money move, we aren’t solely navigating trade headwinds however starting to thrive as soon as once more,” mentioned Jennifer Twiner McCarron, CEO and Chair of Thunderbird. “The Firm stays effectively positioned with our expertise, a number of studios, Canadian tax credit and beneficial alternate fee. Shifting ahead, we stay devoted to enhancing shareholder worth by growing our visibility by means of constantly sturdy outcomes and proactive engagement with the funding neighborhood to maximise liquidity and permit others to take part in our nice story.”

Ms. Twiner McCarron added, “It also needs to be famous that we’re intently watching the negotiation course of between the Alliance of Movement Image and Tv Producers (“AMPTP”) and the Worldwide Alliance of Theatrical Stage Staff (“IATSE”) Native 839, which represents animators and different associated professionals. The important thing points underneath dialogue embody job safety and subcontracting, honest compensation, and addressing using Generative AI in animation manufacturing. We perceive that they’re making progress in direction of a brand new three-year deal, and hope for an equitable answer.”

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Regular Course Issuer Bid

Thunderbird applied a traditional course issuer bid (the “NCIB”) which is detailed within the Firm’s December 1, 2023 information launch, pursuant to which it could repurchase its personal widespread shares for cancellation by means of the services of the TSXV in an quantity to not exceed 10% of its public float, as could also be permitted by the TSXV and relevant securities legal guidelines.

To September 30, 2024, the Firm repurchased for cancellation 591,400 widespread shares underneath its NCIB then in impact for a complete consideration of $1.2 million, representing a mean value of $2.08 per widespread share. Purchases underneath the NCIB might proceed for as much as one 12 months from the graduation day of December 7, 2023. The NCIB stays in place and the Firm will proceed to make use of it opportunistically.

Thunderbird’s Fiscal 2025 Q1 Company Highlights

• In fiscal 2025 Q1, the Firm had 25 applications in numerous levels of manufacturing and was working with 17 purchasers. Of the 25 applications in manufacturing, seven had been Thunderbird IP, and 18 had been service productions.
• Thunderbird Children & Household, producing underneath Atomic Cartoons (“Atomic”), was in manufacturing on 18 applications, and dealing for 11 purchasers, together with: Tremendous Workforce Canada for Bell Media’s Crave, The Day You Start for PBS Children, Marvel’s Iron Man and his Superior Pals for Disney Junior, Marvel’s Spidey and His Superb Pals (Seasons 3 and 4) for Disney Junior, amongst others, and Atomic authentic Mermicorno: Starfall for Warner Bros. Discovery.
• Thunderbird Unscripted, producing underneath Nice Pacific Media (“GPM”), was in manufacturing on six unscripted sequence in Q1, together with: Deadman’s Curse (Season 3) for Historical past Channel, Timber Titans (Season 2) for Discovery, Freeway Through Hell (Season 13) for Discovery, Rocky Mountain Wreckers (Season 1) for The Climate Channel (US) and Discovery in Canada.
• GPM was additionally in manufacturing on one scripted venture in Q1 titled Sidelined: The QB and Me, which is predicated on a Wattpad novel. Blue Fox Leisure is managing worldwide distribution of this Tubi Authentic film, saying gross sales to companions in Europe, Latin America, South Africa, and extra.
• Throughout the quarter, the Firm had 12 scripted tasks in lively growth, of which three are in paid community growth.
• Thunderbird Distribution introduced that Banijay Rights, the worldwide distribution arm of content material powerhouse Banijay Leisure and the longtime distributor of Freeway Through Hell internationally, acquired phase rights to the long-running hit docuseries. Banijay Rights now holds the rights to license, distribute, publish, and broadcast short-form segments and tales excerpted from the sequence, which is presently in pre-production on its 14^th season. The official Freeway Through Hell YouTube and Fb channels be a part of the beforehand introduced FAST channel as a part of the model’s world enlargement.
• Thunderbird Distribution introduced a number of offers for progressive youngsters’s sequence BooSnoo!, a Sky Children Authentic produced by Visionality Media and Mackinnon & Saunders. Along with being broadcasted on Sky Children within the U.Okay. and Eire, additionally it is being distributed in 9 extra territories, together with DR Denmark (Season 1), EBS South Korea (Seasons 1 and a couple of), NRK Norway (Seasons 1 and a couple of), PCCW/NOW Hong Kong (Season 1), SVT Sweden (Season 1), TVO Children Canada (Seasons 1 and a couple of) and Canadian French-language broadcaster Téléquebec (Seasons 1 and a couple of). Within the U.S., NBCU’s Peacock, FOX’s Tubi and Future Immediately’s HappyKids have taken Season 1 of the sequence for his or her platforms.
• Thunderbird Distribution additionally expanded the attain of Windy Isle Leisure’s cute live-action preschool sequence Mittens & Pants past its preliminary 34 territories. Tubi and public library-affiliated streamer Kanopy have taken the primary season for the U.S. Internationally, new platforms buying the sequence embody beIN (MENA, Season 1), NRK (Norway, Seasons 1 and a couple of) and Alibaba’s Youku (China, Seasons 1 and a couple of). Moreover, China-based content material distributor Beijing 24 Bridges can be promoting each seasons of Mittens & Pants within the territory.

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Outcomes of Operations

For extra info, please see the monetary statements and the administration’s dialogue and evaluation (MD&A) for the Q1 outcomes for fiscal 2025, which ended September 30, 2024, accessible on SEDAR+ and the Firm’s web site.

Thunderbird’s Q1 Fiscal 2025 Convention Name & Webcast Data

Convention Name & Webcast Data

Date: November 21, 2024
Time: 11 a.m. PT/ 2 p.m. ET

Pre-Registration:

To pre-register for this name, please go to the next hyperlink and you’ll obtain entry particulars through electronic mail: https://registrations.occasions/direct/Q4I98438659

If you’re unable to pre-register, please see the data for becoming a member of by webcast or phone:

Webcast: https://occasions.q4inc.com/attendee/749061836

Canada Toll Free: +1 (800) 715-9871
United States (Toll-Free): +1 (800) 715-9871
All different areas: +1 (646) 307-1963
Entry Code: 98438

Press *1 to ask a query, press *1 once more to withdraw your query, or *0 for operator help.

Contributors becoming a member of by cellphone are requested to name the convention line 10 minutes early to keep away from wait instances whereas connecting to the decision. The convention name can be webcast reside and accessible for replay through the “Buyers” part of the Thunderbird web site.

The Firm needs to tell its shareholders that, as a result of Canada Postal Service strike, the Q1 Fiscal 2025 paperwork won’t be mailed out till the strike is over. The Q1 Fiscal 2025 Interim Monetary Statements and MD&A are filed electronically and could be considered on SEDAR+.

For info on Thunderbird and to subscribe to the Firm’s investor record for information updates, go to www.thunderbird.television.

ABOUT THUNDERBIRD ENTERTAINMENT GROUP

Thunderbird Leisure Group is a worldwide award-winning, full-service multiplatform manufacturing, distribution and rights administration firm, headquartered in Vancouver, with extra places of work in Los Angeles and Ottawa. Thunderbird creates award-winning scripted, unscripted, and animated programming for the world’s main digital platforms, in addition to Canadian and worldwide broadcasters. The Firm develops, produces, and distributes animated, factual, and scripted content material by means of its numerous content material arms, together with Thunderbird Children and Household (Atomic Cartoons), Thunderbird Unscripted (Nice Pacific Media) and Thunderbird Scripted. Productions underneath the Thunderbird umbrella embody Mermicorno: Starfall, Tremendous Workforce Canada, Molly of Denali, Freeway Through Hell, Kim’s Comfort, Boot Camp and Sidelined: The QB and Me. Thunderbird Distribution and Thunderbird Manufacturers handle world media and shopper merchandise rights, respectively, for the Firm and choose third events. Thunderbird is on Fb, X, and Instagram at @tbirdent. For extra info, go to: www.thunderbird.television.

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Neither the TSX-V nor its Regulation Providers Supplier (as that time period is outlined within the insurance policies of the TSX-V) accepts accountability for the adequacy or accuracy of this launch, which has been ready by administration.

Cautionary Assertion Concerning Ahead-Wanting Data

Sure statements on this press launch include “forward-looking info” for the needs of relevant securities legal guidelines (“forward-looking statements”). Ahead-looking statements of knowledge could also be recognized by phrases comparable to “anticipate”, “proceed”, “estimate”, “count on”, “forecast”, “might”, “will”, “plan”, “venture”, “ought to”, “consider”, “intend”, or related expressions regarding issues that aren’t historic details. Examples of forward-looking statements on this press launch embody, however aren’t restricted to, forecasting a return to top-line progress in fiscal 2025, forecasted 2025 progress in income and AEBITDA¹; anticipated gross margin¹ variations; being profitable in growing efficiencies and realizing extra financial savings all through fiscal 2025; efficiently investing in new content material manufacturing; aligning content material technique with disciplined monetary oversight to ship elevated worth to shareholders; skills to execute strategic priorities; the power to retain expertise; Canadian tax credit and alternate charges remaining favorable; growing visibility by means of sturdy outcomes and proactive engagement with the funding neighborhood to maximise liquidity; the impression of negotiations between AMPTP and IATSE Native 839 on green-lighting productions; persevering with use of the NCIB.

Monetary outlook and future-oriented monetary info, as with forward-looking info usually, are, with out limitation, primarily based on the assumptions and estimates and topic to varied dangers. The targets, forecasts and projections included herein, and the associated assumptions, contain identified and unknown dangers and uncertainties which will trigger precise outcomes to vary materially. Whereas administration of Thunderbird believes there’s a cheap foundation for these targets, forecasts and projections, such targets, forecasts, or projections might not be achieved. The Firm’s precise monetary place and outcomes of operations might differ materially from administration’s present expectations and, in consequence, amongst different issues, the Firm’s future income and AEBITDA¹ might differ materially from the monetary outlooks and future-oriented info offered on this information launch. Accordingly, buyers are cautioned to not place undue reliance on the foregoing info.

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Ahead wanting statements are essentially primarily based on plenty of estimates and assumptions that, whereas thought-about cheap, are topic to identified and unknown dangers, uncertainties and different elements which can trigger precise outcomes and future occasions to vary materially from these expressed or implied by such forward-looking statements. Such elements embody, however aren’t restricted to: normal enterprise, financial and social uncertainties; the power to fulfill the factors of the TSX to have the ability to uplist on the TSX and the timing associated thereto; market phase circumstances; litigation, legislative, environmental and different judicial, regulatory, political and aggressive developments; product functionality and acceptance; worldwide danger and forex alternate charges; and know-how adjustments. An evaluation of those dangers that might trigger precise outcomes to materially differ from present expectations is contained within the “Dangers and Uncertainty” part of the Firm’s June 30, 2024, MD&A. The foregoing shouldn’t be an exhaustive record. Extra dangers and uncertainties not presently identified to Thunderbird or that administration believes to be much less vital can also adversely have an effect on the Firm. Though the Firm believes that the assumptions and elements utilized in making ready the forward-looking statements contained on this doc (together with statements containing future-oriented monetary info) are cheap, undue reliance shouldn’t be positioned on these statements which signify the Firm’s views as of the date hereof and as such info shouldn’t be relied upon as representing the Firm’s views as of any date subsequent to the date of this press launch. The Firm undertakes no obligation to replace publicly or revise any forward-looking statements, whether or not due to new info, future occasions or in any other case, until so required by relevant securities legal guidelines. Accordingly, readers are cautioned to not place undue reliance on forward-looking statements.

¹ AEBITDA, AEBITDA margins, gross margin and Free Money Circulate are Non-IFRS Measures, see “Non-IFRS Measures” part under for his or her respective definitions, detailed calculations and detailed reconciliation to IFRS measures. Probably the most instantly comparable monetary measures of the Firm are internet revenue, gross revenue and money flows from operations, respectively as reported under.

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NON-IFRS MEASURES

Along with the outcomes reported in accordance with IFRS, the Firm makes use of numerous non-IFRS monetary measures which aren’t acknowledged underneath IFRS, and due to this fact wouldn’t have standardized meanings prescribed by IFRS, as supplemental indicators of our working efficiency and monetary place. The Firm’s methodology of calculating such monetary measures might differ from the strategies utilized by different issuers and, accordingly, our definition of those non-IFRS monetary measures might not be akin to related measures offered by different issuers. These non-IFRS monetary measures are offered to reinforce the consumer’s understanding of our historic and present monetary efficiency and our prospects for the longer term. Administration believes that these measures present helpful info in that they exclude quantities that aren’t indicative of our core working outcomes and ongoing operations and supply a extra constant foundation for comparability between durations. The next dialogue explains the Firm’s use of AEBITDA, Free Money Circulate, AEBITDA Margins and Gross Margins.

“AEBITDA” is calculated primarily based on EBITDA earlier than share-based compensation, unrealized international alternate achieve/loss and gadgets of an uncommon or one-time nature that don’t mirror our ongoing operations. AEBITDA is often reported and extensively utilized by buyers and lenders as an indicator of an organization’s working efficiency and skill to incur and repair debt, and as a valuation metric. Probably the most instantly comparable measure underneath IFRS is internet revenue.

“Free Money Circulate” is calculated primarily based on money flows from operations, buy of property and tools and internet interim manufacturing financing. Free Money Circulate represents the money an organization generates after accounting for money outflows to assist operations and preserve its capital property. Probably the most instantly comparable measure underneath IFRS is money flows from operations.

“AEBITDA Margins” is calculated as a ratio of AEBITDA over whole revenues. Margin is a non-IFRS ratio when utilized to non-IFRS monetary measures.

“Gross Margin” is calculated as a ratio of income that exceeds direct working prices. Administration considers Gross Margin a helpful indicator of profitability earlier than working and different bills, aiding within the evaluation of the Firm’s capacity to generate internet earnings and money move. Probably the most instantly comparable measure underneath IFRS is gross revenue.

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Non-IFRS Measures Reconciliations

The next desk presents the reconciliation from internet revenue (loss) to EBITDA and AEBITDA, for the three months ended September 30, 2024 and 2023.

The next desk presents the reconciliation from Gross Revenue to Gross Margin, for the three months ended September 30, 2024 and 2023.

Abstract of Gross Revenue

The next desk presents the reconciliation from money flows from operations to Free Money Circulate, for the three months ended September 30, 2024 and 2023.

View supply model on businesswire.com: https://www.businesswire.com/information/dwelling/20241120772666/en/

Contacts

Investor Relations Contacts:
Glen Akselrod, Bristol Capital
Telephone: + 1 905 326 1888 ext 1
E-mail: glen@bristolir.com

Media Relations Contact:
Lana Castleman, Director, Advertising & Communications
Telephone: 416-219-3769
E-mail: lcastleman@thunderbird.television

Company Communications
Julia Smith, Finch Media
E-mail: Julia@finchmedia.internet

#distro

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