Loop Media, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended June 30, 2023
August 09, 2023 at 01:45 am IST
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Loop Media, Inc. reported earnings results for the third quarter and nine months ended June 30, 2023. For the third quarter, the company reported sales was USD 5.73 million compared to USD 10.8 million a year ago. Net loss was USD 7.88 million compared to USD 5.67 million a year ago. Basic loss per share from continuing operations was USD 0.14 compared to USD 0.11 a year ago.
For the nine months, sales was USD 25.95 million compared to USD 18.68 million a year ago. Net loss was USD 22.95 million compared to USD 14.92 million a year ago. Basic loss per share from continuing operations was USD 0.41 compared to USD 0.32 a year ago.
Loop Media, Inc. is a multichannel digital video platform media company that uses marketing technology to offer its services. Its technology and library of videos and licensed content enables it to curate and distribute short-form videos to out-of-home (OOH) dining, hospitality, retail, convenience stores and other locations and venues to enable them to inform, entertain and engage their customers. Its technology provides third-party advertisers with a targeted marketing and promotional tool for their products and services and, in certain instances, allows it to measure the number of potential viewers of such advertising and promotional materials. It distributes its content and advertising inventory to digital screens located in OOH locations primarily through its owned and operated platform of Loop Media-designed small-box streaming Android media players (Loop Players) and legacy ScreenPlay computers, and through screens on digital platforms owned and operated by third parties.