Thunderbird Entertainment Exceeds FY 2024 Guidance, Targets 20%+ Revenue Growth in FY 2025

Thunderbird Entertainment Group Inc. (TSXV: TBRD, OTCQX: THBRF), a global award-winning production, distribution, and rights management company, has announced its financial results for the fourth quarter and fiscal year 2024, which ended on June 30, 2024. The company has exceeded its FY 2024 guidance, reporting a 30% increase in Adjusted EBITDA to .7 million, and is now targeting 20%+ revenue growth in FY 2025.

Thunderbird's Impressive FY 2024 Performance Paves the Way for Continued Growth

Robust Financial Results Demonstrate Thunderbird's Resilience

Thunderbird's fourth-quarter revenue increased by 37% year-over-year, reaching .8 million, while the company's annual revenue declined by 1% to 5.3 million. Despite the industry-wide headwinds, Thunderbird's Adjusted EBITDA for the fourth quarter rose to .0 million, compared to {{royaItemContent}}.7 million in the same period last year. The company's annual Adjusted EBITDA increased by 30% year-over-year, from .8 million to .7 million.The company's Adjusted EBITDA margin also improved, increasing to 13.4% in the fourth quarter, up from 1.8% in the same period last year. For the full fiscal year, the Adjusted EBITDA margin improved by 240 basis points, rising to 10.1% from 7.7% in the previous fiscal year.

Thunderbird's Disciplined Approach to Cost Management Drives Profitability

In fiscal 2024, Thunderbird introduced comprehensive cost-saving measures that delivered savings exceeding million and resulted in an ongoing reduction to the company's fixed cost base. The company continues to maintain a disciplined approach to managing costs and will seek out additional ways to increase efficiencies and realize savings throughout fiscal 2025 without sacrificing the quality that Thunderbird is known for.

Robust Balance Sheet Supports Thunderbird's Growth Initiatives

Thunderbird's balance sheet remains robust, with no corporate debt, providing the financial flexibility needed to pursue growth opportunities. This strength supports the company's plans to invest in new content production, a key driver of future growth. By aligning its content strategy with disciplined financial oversight, Thunderbird is committed to delivering increased value to shareholders.

Thunderbird's Fiscal 2025 Outlook: Targeting 20%+ Revenue Growth

Despite facing industry-wide headwinds, Thunderbird is forecasting a return to top-line growth in fiscal 2025, with a target for 20% revenue growth and over 10% Adjusted EBITDA growth. The variance between revenue and Adjusted EBITDA growth reflects the anticipated gross margin difference associated with the types of projects being forecasted in FY 2025 compared to FY 2024. These targets are supported by a strong content pipeline, strategic investments, and signs of a stabilizing market environment.

Thunderbird's Strategic Review Process Concludes, Focusing on Execution of Business Plan

After conducting a thorough strategic review process, the Special Committee of Thunderbird's Board of Directors recommended that the company focus on the execution of its strategic business plan, which includes the pursuit of strategic growth opportunities. The Board determined that remaining a standalone public company and executing on the current business plan is in the best interests of the company's stakeholders.

Thunderbird's Commitment to Enhancing Shareholder Value

Thunderbird's management team and Board of Directors are confident in the company's ability to execute on its targets and believe that remaining a standalone public company will lead to the best opportunity for significant mid- to long-term value creation. The company is also exploring strategic capital markets and other opportunities, such as a potential opportunity to uplist to the Toronto Stock Exchange (TSX), to increase visibility and liquidity for its shareholders.

Thunderbird's Fiscal 2024 Corporate Highlights: Diverse Content Pipeline and Expanding Brands

Thunderbird's fiscal 2024 corporate highlights include the production of 24 programs across its Kids & Family, Unscripted, and Scripted divisions, working with 17 clients. The company also introduced its first adult animated original series, "Super Team Canada," and expanded its presence on FAST channels with the launch of a dedicated "Highway Thru Hell" FAST channel.Thunderbird's Distribution and Brands divisions continued to grow, with the company acquiring media and consumer products rights to the mixed-media series "BooSnoo!" and expanding the global reach of its "Mermicorno: Starfall" brand through new territory distribution deals and the appointment of Jazwares as the global master toy licensee.