Dolphin Entertainment Inc. (DLPN) stock gained by 28.59% at the last trading close whereas the DLPN stock price plunges by 3.04% at the last check in the after-hour trading. Dolphin Entertainment is a premier entertainment promotion and luxury content creation firm. They offer professional strategic marketing and advertising services to many of the leading brands, including individual and corporate, in the film, television, music, gaming, and hospitality industries through its subsidiaries 42West, The Door, and Shore Fire Media.
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DLPN has recently announced its financial results for the fourth quarter and full year ended December 31, 2020. Given below is the summary:
- Total Q4 revenue jumped to $6.7 million, up from $6.4 million in Q4 2019, and total revenue for 2020 was $24.1 million, up from $25.0 million in 2019.
- DLPN’s net loss was $1.9 million for the Q4 2020 which included non-cash items from depreciation and amortization of $2.0 million and an impairment of investment asset of $220,000, related to a net loss of $2.3 million for the same time the previous year, which also included non-cash items from depreciation and amortization of $1.9 million.
- As of December 31, 2020, there was $7.9 million in currency and cash equivalents, relative to $2.2 million as of December 31, 2019.
- As of December 31, 2020, working capital was ($3.0 million), opposed to ($15.6 million) as of December 31, 2019.
Bill O’Dowd, CEO of Dolphin Entertainment commented:
With the highly strategic acquisition of influencer marketing agency Be Social, Dolphin 1.0, DLPN’s central investment plan to shape and run a best-in-class entertainment marketing “Super Group,” had a prosperous 2020. The acquisition of BH/I, a major entertainment advertising, gaming, and Esports PR agency, extended the momentum into 2021, widening Dolphin into promising new entertainment verticals and dramatically boosting cross-sell prospect.