QYOU Media Reports Record $31 Million in Revenue for 2024
Q4 2024 Delivers Third Consecutive Quarter of Positive Adjusted EBITDA
TORONTO and MUMBAI, India and LOS ANGELES, Calif., April 30, 2025 /CNW/ - QYOU Media Inc., (TSXV: QYOU) (OTCQB: QYOUF) a company operating in India and the United States producing and distributing content created by social media stars and digital content creators, is reporting financial results for the three months (Q4 2024) and year ended December 31, 2024 (FY 2024). Highlights include as follows:
The company recorded annual revenue of $31,480,979 representing the highest annual revenue mark in corporate history. This revenue growth was primarily driven by the performance of the US and India based influencer marketing business units as the company streamlined operations and executed on a strategic shift to more financially profitable businesses driving stronger returns.
Adjusted EBITDA*: For the year ended December 31, 2024 compared to the same period prior year, Adjusted EBITDA significantly improved 109% to $415,186 representing a YOY improvement of $5,137,745 ( -$4,722,599 in FY 2023). This was driven by strong revenue growth in the influencer marketing business units combined with the strategic discontinuation of the gaming business alongside operating cost controls across the company.
Improved Net Loss: For the year ended December 31, 2024, net loss improved by $1,792,525 or 18% compared to prior year. This improvement was offset by significant tax charges along with impairment costs related to the discontinuation of the gaming business.
Cash Balance: Cash used in operating activities for the year ended December 31, 2024 was $188,752 compared to $1,788,827 in prior year. The decrease in cash used in operating activities is primarily due to the strategic decision to discontinue the gaming operations along with operating cost controls across the Company. The Company concluded the year ended December 31, 2024 with cash of $946,784 (FY 2023 $736,713)
Subsequent to year-end, the Company announced that Chatterbox, its subsidiary influencer marketing business in India, filed a Draft Red Herring Prospectus (DRHP) on the SME Platform of the BSE Limited ("BSE") (formerly known as the Bombay Stock Exchange).
QYOU Media CEO and Co-Founder Curt Marvis commented, "The financial results of our business in FY 2024 demonstrate the early success of our repositioning and focus on our influencer marketing business units in the US and India. Three consecutive quarters of positive adjusted EBITDA and continued strong overall revenue growth was our goal and we achieved this while strategically moving on from other revenue-generating but loss-burdened business units. QYOU India Group CEO Raj Mishra, QYOU USA President Glenn Ginsburg and I are proud of the commitment of our teams both here and in India to make this all happen. Our focus now is to leverage this momentum further with our strong teams, unparalleled global client base and the boost we expect to achieve from the listing of Chtrbox in 2025 on the BSE. We all anticipate that 2025 will continue to be marked by new milestone achievements and new growth opportunities for our business in ways that can benefit all shareholders."
*Note on Adjusted EBITDA:
To supplement our consolidated financial statements, which are prepared and presented in accordance with International Financial Reporting Standards ("IFRS"), we present Earnings Before Interest Tax Depreciation and Amortization ("Adjusted EBITDA") which is a non-IFRS financial measure. The presentation of non-IFRS financial measurement are not intended to be considered in isolation from, or as a substitute for, or superior to, operating loss or net income (loss) or any other performance measures derived in accordance with IFRS or as an alternative to net cash provided by operating activities or any other measures of cash flows or liquidity.
We define earnings before interest, taxes, depreciation and amortization ("Adjusted EBITDA") as revenue minus operating expenses excluding non-cash and or non-recurring operating expenses of stock-based compensation, marketing credits, depreciation and amortization (interest and taxes are not included in the Company's operating expenses). Adjusted EBITDA is used as an internal measure to evaluate the performance of our operating segments. We believe that information about this non-IFRS financial measure assists investors by allowing them to evaluate changes in operating results of our business separate from non-operational factors that affect operating income (loss) and net income (loss), thus providing insights into both operations and other factors that affect reported results. A limitation of the use of Adjusted EBITDA as a performance measure is that it does not reflect the periodic costs of certain amortizing assets used in generating revenue in our business. Furthermore, this measure may vary among companies; thus Adjusted EBITDA as presented herein may not be comparable to similarly titled measures of other companies.
About QYOU Media
Among the fastest growing creator driven media companies, QYOU Media operates in India and the United States through its subsidiaries, producing, distributing and monetizing content created by social media influencers and digital content stars. Our influencer marketing business in India, Chtrbox, is an influencer and marketing platform and agency, connecting brands/products and social media influencers. In the United States, we power major film studios, game publishers and brands to create content and market via creators and influencers. Founded and managed by industry veterans from Lionsgate, MTV, Disney, Sony and TikTok. QYOU Media's millennial and Gen Z-focused content has reached more than one billion consumers. Experience our work at www.qyoumedia.com
Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of applicable securities laws. Words such as "expects'', "anticipates" and "intends" or similar expressions are intended to identify forward-looking statements. The forward-looking statements contained herein may include, but are not limited to, information concerning the completion of future investments, the approval of the Exchange of the investments, the approval of the Reserve Bank of India of future investments, the expected use of proceeds from the investment, and statements relating to the business and future activities of QYOU. These forward-looking statements are based on QYOU's current projections and expectations about future events and other factors management believes are appropriate. Although QYOU believes that the assumptions underlying these forward-looking statements are reasonable, they may prove to be incorrect, and readers cannot be assured that the offering and the closing thereof will be consistent with these forward-looking statements. Actual results could differ materially from those projected in the forward-looking statements as a result of numerous factors, including certain risk factors, many of which are beyond QYOU's control. Additional risks and uncertainties regarding QYOU are described in its publicly-available disclosure documents, filed by QYOU on SEDAR (www.sedar.com) except as updated herein. The forward-looking statements contained in this news release represent QYOU's expectations as of the date of this news release, or as of the date they are otherwise stated to be made, and subsequent events may cause these expectations to change. QYOU undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.
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