Genius Brands International, Inc. (GNUS), content and brand management company, has surged 17.73% during the aftermarket trading session. As a result, GNUS stock was trading at $2.39 when last checked. On Monday, GNUS closed the day at $2.03 after plummeting 51.49% during regular trading hours. The continuous surge has come after the company announced the schedule of the investor conference call to discuss positive business development. Let’s discuss some recent developments related to GNUS.
GNUS achieved milestone
On 18th October, GNUS announced to achieve the new milestone of over 70 million views to date for Kartoon Channel!! flagship series, Stan Lee’s Superhero Kindergarten, which stars Arnold Schwarzenegger. He is also the executive producer of the show. The show premiered on 23rd April on Kartoon Channel!! Since that, the viewership for Stan Lee’s Superhero Kindergarten has surpassed all expectations and is now the most-watched show on Kartoon. The program would end its first season with the last episode debuting on 22nd October 2021. Commenting on the milestone, Genius Brands’ Chairman & CEO Andy Heyward said that the company is incredibly proud of Stan Lee’s Superhero Kindergarten. He further said that since the debut, the show has proved to be a success as well as depicts the content with a purpose.
Q2 2021 financials
On 16th August, GNUS reported the financial results for the second quarter of the fiscal year 2021 which ended on 30th June. The company had cash and cash equivalents of $58.37 million on 30th June. The total assets in possession of the company at the time were $201.21 million, while the total liabilities were estimated to be $29.59 million. The company generated total revenue of $2.34 million during the three months against $0.56 million for the same period of 2020. The total operating expenses for the period were $9.91 million against $2.93 million for the same period of 2020. The company suffered a loss of $7.57 million from operations against $2.37 million for the same period of 2020. The net loss attributable to common shareholders for the quarter was $7.38 million (or $0.02 per basic and diluted share) against $383.25 million (or $4.88 per basic and diluted share) for the same period of 2020.
What’s ahead for GNUS?
During the last three months, GNUS stock has surged more than 25% on the back of excellent quarterly performance as well as due to business expansion strategies. Analysts hope that the future of GNUS could be tremendous based on the investor interest in the company.