CORRECTION: D-BOX Technologies Announces Financial Results

New Post Public Reply Private Reply Replies (0) Message Board
News Desk 2022
56
CORRECTION: D-BOX Technologies Announces Financial Results for its Third Quarter Period ended December 31, 2018

LONGUEUIL, Quebec, Feb. 14, 2019 (GLOBE NEWSWIRE) -- In the press release issued on February 13, 2019 by D-BOX Technologies Inc., we have been advised by the company that the first paragraph should read "with 55 new screens installed since December 2017 year over year." In the second table, in the Nine-month period ended December 31 2017, the "Income taxes" should read "5" and the "Share-based payments" should read "206". The corrected release follows:

D-BOX Technologies Announces Financial Results for its Third Quarter Period ended December 31, 2018

D-BOX Technologies Inc. (TSX: DBO), a world leader in immersive entertainment experiences, today announced revenues of $8.3 million and $25.8 million for the three months and nine-month periods ended December 31, 2018.  Revenues were down 21% for the three months and 1% for the nine months over the same period from last year. The lower revenues for the period reflect the lack of Hollywood released blockbuster movies during the last quarter which led to weaker box office revenues around the world.  D-BOX continues to increase its theatrical footprint worldwide with 55 new screens installed since December 2017 year over year.

FINANCIAL HIGHLIGHTS

Highlights for the third quarter ended December 31, 2018

Compared with the third quarter ended December 31, 2017:

  • Revenues fell 21% to $8.3 million from $10.4 million.
  • Recurring revenues decreased 16% to $2.1 million from $2.5 million.
  • Quarterly adjusted EBITDA was $515K compared with $1.1M.
  • Recurring revenues rose to 25% of total revenues from 24%.
  • Net loss totalled ($177K) compared with net income of $51K.

Highlights for the nine-month period ended December 31, 2018,

Compared with the nine-month period ended December 31, 2017:

  • Revenues decreased 1% to $25.9 million from $26.2 million.
  • Recurring revenues grew 5% to $6.8 million from $6.5 million.
  • Adjusted EBITDA was $1.8 million compared with $1.7 million.
  • Recurring revenues rose to 26% of total revenues from 25%.
  • Net loss totalled ($1.2M) compared with ($1.8M).
Third quarter and Nine-month period ended December 31 (in thousands of dollars, except per share amounts)
  Third Quarter Nine-month period
2018   2017   2018   2017  
Revenues 8,258   10,400   25,855   26,194  
Net loss (177 ) 51   (1,154 ) (1,773 )
Adjusted EBITDA* 515   1,114   1,795   1,667  
Basic and diluted net income (loss) per share (0.001 ) 0.000   (0.007 ) (0.010 )
Information from the consolidated balance sheet
  As at December 31, 2018 As at March 31, 2018
Cash and cash equivalents 8,898 10,141 
* See the “Non-IFRS” measures section in the Management’s Discussion and Analysis dated February 13, 2019.

OPERATIONAL HIGHLIGHTS

  • D-BOX added seats across four countries in Latin America through a partnership with Cinemark, a major US exhibitor. This expanded agreement led to the installation of a full D-BOX screen in Ecuador and motion seats in theatres in Argentina and Brazil.  Additional seats were also installed in existing locations throughout Colombia confirming sustainable growing popularity of the brand.  
  • Triotech launched their latest attraction featuring D-BOX motion system called The Flyer, in December at Pier 39 in San Francisco. In November, during the IAAPA trade show (International Association of Amusement Parks and Attractions), The Rabbids Team battle experience with Ubisoft have been launched – an interactive media-based ride fully powered by D-BOX motion. These new attractions are part of the widely popular games and rides deployed and sold by the company since 2009 in different markets all over the world including Typhoon , XD dark ride , XD theater and other experiences that all utilize D-BOX motion technology.
  • Ymagis group opened Illucity in December, France’s first VR adventure park located at La Villette in Paris. D-BOX is prominently featured in three different attractions using seats and simulators.

“Despite the quarterly drop in box-office revenues in the theatrical market, we have succeeded in improving our year to date adjusted EBITDA’’, says Claude Mc Master, CEO of D-BOX.  “We have also increased the number of the company’s integrator partners for the commercial entertainment division’’.

ADDITIONAL INFORMATION REGARDING THE THIRD QUARTER ENDED DECEMBER 31, 2018

The financial information relating to the third quarter ended December 31, 2018, should be read in conjunction with the Corporation’s unaudited interim condensed consolidated financial statements and the Management’s Discussion and Analysis dated February 13, 2019. These documents are available at www.sedar.com .

OUTLOOK

D-BOX operates in two major areas: the entertainment market and the simulation and training market which have their respective sub-markets.  Business development activities aim to increase motion system sales and grow its recurring revenue.  This strategy will help solidify D-BOX’s position in existing sub-markets and facilitate entering new segments.

D-BOX’s expertise in immersive motion and true-to-life simulation positions the Corporation to be an active participant in the growing virtual reality (VR) market.  The Corporation is actively developing new applications for VR and other related markets.  D‑BOX proprietary technology may also enhance the expansion of VR by reducing the motion dizziness sometimes associated with VR experiences.  D-BOX is particularly focused on this new trend as the size of the virtual and augmented reality markets grow, potentially to billions of dollars in the near future, according to many industry sources.

RECONCILIATION OF ADJUSTED EBITDA TO NET INCOME (LOSS)*

Adjusted EBITDA provides useful and complementary information, which can be used, in particular, to assess profitability and cash flows provided by operations. It consists of net income (loss) excluding amortization, financial expenses net of income, income taxes, write-off of property and equipment and intangible assets, shared-based payments, foreign exchange loss (gain) and non-recurring expenses related to restructuring costs.

  Third Quarter ended December 31 Nine-month period ended December 31
2018   2017   2018   2017  
Net income (loss) (177 ) 51   (1,154 ) (1,773 )
Amortization of property and equipment 402   593   1,512   1,763  
Amortization of intangible assets 197   161   602   487  
Amortization of other assets —   1   2   3  
Financial expenses 123   134   384   401  
Income taxes (31 ) —   46   5  
Write off of intangible assets —   52   —   52  
Share-based payments 16   70   109   206  
Foreign exchange loss (gain) (15 ) 52   294   266  
Restructuring costs   —   —   —   257  
Adjusted EBITDA 515   1,114   1,795   1,667  
* See the “Non-IFRS” measures section in the Management’s Discussion and Analysis dated February 13, 2019.

ABOUT D-BOX

D-BOX redefines and creates hyper-realistic, immersive entertainment experiences by moving the body and sparking the imagination through motion. This expertise is one of the reasons why D-BOX has collaborated with some of the best companies in the world to deliver new ways to enhance great stories. Whether it’s for movies, video games, virtual reality applications, themed entertainment or professional simulation, D-BOX mission is to move the world.

D-BOX Technologies Inc. is a publicly traded Canadian company listed on the Toronto Stock Exchange (TSX: DBO). The head office is located in Montreal and its offices are based in Los Angeles, USA and Beijing, China.

D-BOX®, D-BOX Motion Code®, LIVE THE ACTION®, MOTION ARCHITECTS®, MOVE THE WORLD® and FEEL IT ALL® are trademarks of D-BOX Technologies Inc. Other names are for informational purposes only and may be trademarks of their respective owners.

DISCLAIMER REGARDING FORWARD-LOOKING STATEMENTS

Certain statements included herein, including those that express management’s expectations or estimates of our future performance, constitute “forward-looking statements” within the meaning of applicable securities laws. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Investors are cautioned not to place undue reliance on forward-looking statements. D-BOX disclaims any intent or obligation to publicly update these forward‑looking statements, whether as a result of new information, future events or otherwise.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Jean-François Lacroix Chief Financial Officer D-BOX Technologies Inc. 450-876-1227 jflacroix@d-box.com Investor Relations: Glen Akselrod Founder Bristol Capital Ltd. 905-326-1888, ext. 10 glen@bristolir.com
Scroll down for more posts ▼

Top 10 Most Recent News Articles

NYSE Gains Ground with Historic Listings Transfers

Updated Category News Views 50

You'll know it's a topsy-turvy market when hefty firms start switching their stock exchange allegiance. This year, nine noteworthy companies, with a collective market heft of nearly half a trillion dollars, kissed Nasdaq goodbye and nestled into the New York Stock Exchange (NYSE). Now, why would these big shots make the shift, you ask? Let's dive into the nitty-gritty....

Continue Reading
Hainan's Evolution: Beyond Beaches to Cultural Hub

Updated Category News Views 63

A Historic Melting Pot in Modern Times You land on Hainan, and it's not just about palm trees and endless beaches anymore. The place is serving up a wild blend of cultural cocktail through fascinating architecture that screams, 'We’ve been doing this global thing before it was cool.' Anna Bondarenko from Russia found herself puzzled walking through Qilou Old Street....

Continue Reading
Madrigal Faces Troubling Whistleblower Claims

Updated Category News Views 106

Whistleblower Complaint Rocks Madrigal Let me tell you, today's chatter isn't for the faint-hearted investor. Madrigal Pharmaceuticals (NASDAQ: MDGL) is under scrutiny, and it's making waves. The gears started turning when their former Senior VP and Head of Clinical Development unloaded a bombshell: he reported dirt on Madrigal's safety and efficacy data for Rezdiffra,...

Continue Reading
LiuGong Pushes Sustainability at 2026 Dealer Conference

Updated Category News Views 106

The Road to Green: LiuGong’s Ambitious Vision In a world where more heads are turning towards sustainability, LiuGong stepped up and showcased its green aspirations with flare at the 2026 Global Dealer Conference held from November 10 to 12 in Liuzhou, China. Over 2,000 attendees, ranging from dealers to customers, were in attendance to witness what seemed to be both a...

Continue Reading
D-Wave Lawsuit Looms: Investors Face December Deadline

Updated Category News Views 36

A Gathering Storm for D-Wave: Seeking Accountability The air's thick with tension in investor circles these days, especially if you're holding shares of D-Wave Quantum Inc. (NASDAQ: QBTS). If you've suffered losses between February 26 and August 25, 2026, you might want to take note: The deadline to move for lead plaintiff status in a class action against D-Wave is fast...

Continue Reading
Nuix Names Lori Cornmesser to Head Global Partnerships

Updated Category News Views 24

Nuix Shakes Things Up with New Leadership Nuix, a notable player in the investigative analytics and intelligence software space, just leveled up its game by bringing in Lori Cornmesser as the Global Vice President, Partner Ecosystems. This ain't your average hire. Cornmesser's been around the block—over 25 years, in fact—building and leading partner ecosystems...

Continue Reading
Shanghai Masters: Minhang's Vibe Enchants Visitors

Updated Category News Views 74

Minhang's Unique Blend of Action and Relaxation Tennis fans and journalists aren't exactly flocking to Minhang for a typical sports event feel. During the 2026 Rolex Shanghai Masters, something magical happened—intense tennis matches inside the court and a serene culinary oasis outside. You'd think these two worlds wouldn't mix, but Minhang pulled it off spectacularly....

Continue Reading
Global Challenge: A New Era for AI Web Agents

Updated Category News Views 118

The Dawn of the Agent Web Well, here we are, standing at the cusp of a new digital frontier, folks. This ain't just another buzzword parade; this is the Open Agentic Web Challenge, courting developers with a $13K carrot to craft an interoperable playground for AI agents. Big names like Cognizant AI Lab, MIT Media Lab, and others are leading the charge. No small-time...

Continue Reading
EPIC Players Seeks Sponsors for 2027 Gala & Seasons

Updated Category News Views 81

Shining the Spotlight on Neurodivergent and Disabled Artists The curtains are about to rise for EPIC Players' 10th Anniversary Gala, and folks, it's more than just a party; it's a cause worth championing. Set for April 7, 2027, at New York's City Winery, this event is an invitation for brands to spotlight their support for Neurodivergent and Disabled artists. If you've...

Continue Reading
Innovator Designs Tape Solution to End Sticky Struggles

Updated Category News Views 25

Ripping With A New Idea: A Simpler Tape Solution Every DIY-er and professional who's grappled with that pesky tape edge knows the struggle. The inventors in San Bernardino claim they've cracked the code with the QUICK FIND TAPE. It might not sound revolutionary at first blush, but picture this: no more squinting, squabbling, or ripping your nails apart to find where the...

Continue Reading
" title="Health In Tech's Rocky Q3: Navigating Losses and Opportunities - Continue Reading" aria-label="Continue reading: Health In Tech's Rocky Q3: Navigating Losses and Opportunities"> Continue Reading
More News Articles

Top 5 Most Recently Viewed Articles

Reviving Psychedelic Therapy: Argentina's Unique Journey

Updated Category News Views 200

Argentina's Transformative Era of Psychedelic Therapy In the late 1950s, Argentina stood at the forefront of a unique fusion between psychoanalysis and psychedelics. Between 1957 and 1967, innovative psychotherapists, such as Dr. Alberto Fontana and Luisa Gambier de Álvarez de Toledo, introduced therapeutic sessions that utilized controlled doses of LSD and other...

Continue Reading
Hilco Commercial Industrial Partners with Ritchie Bros for Asset Sale

Updated Category News Views 277

Overview of the Asset Sale Hilco Commercial Industrial and Ritchie Bros. Auctioneers have joined forces to oversee a remarkable opportunity for buyers in the heavy equipment sector. This collaboration focuses on the asset liquidation of Highway Equipment Company, a well-respected name with a legacy of over 90 years in the construction and material handling industries....

Continue Reading
Empowering Women: Pomellato Celebrates Creativity in Style

Updated Category News Views 160

Celebrating Empowerment Through Collaboration Recently, Pomellato hosted a remarkable event that intertwined the elegance of Milanese artistry with the vibrant spirit of Hollywood. This intimate gathering featured influential figures such as Jane Fonda, Kerry Washington, and Philippine Leroy Beaulieu, all coming together to celebrate independence and creativity. Under the...

Continue Reading
Byrna Technologies Reaches New Heights with $31.32 Stock Peak

Updated Category News Views 218

Byrna Technologies Achieves Record Stock Prices Byrna Technologies Inc. (BYRN) has recently made headlines as its stock price reached an all-time high of $31.32. This impressive milestone is a clear indicator of the growing investor confidence in the company, which is renowned for its innovative non-lethal personal security devices. With a remarkable current ratio of 3.51...

Continue Reading
Penguin Solutions Faces Stock Target Downgrade Despite Growth Potential

Updated Category News Views 72

Penguin Solutions Stock Update from Stifel Recently, Stifel modified its stock target for Penguin Solutions (NASDAQ: PENG), decreasing it to $27 from the prior target of $32. Despite this reduction, the investment firm has retained a Buy rating on their shares. This decision was influenced by the company's most recent earnings report for F4Q:24, which did not meet the...

Continue Reading