Connect with us

Technology

East Side Games Group Reports Third Quarter 2024 Financial Results

Published

on

Revenue of $21.4M in Q3 2024 and $62.8M Year to DateA-EBITDA of $2.56M in Q3 2024 and $9.2M Year to DatePOWER RANGERS: MIGHTY FORCE launched globally

VANCOUVER, BC, Nov. 14, 2024 /CNW/ – East Side Games Group (TSX: EAGR) (OTC: EAGRF) (“ESGG” or the “Company”), is pleased to announce its financial results for the third quarter ended September 30, 2024. All amounts are stated in Canadian dollars on an IFRS basis unless otherwise indicated. Building on the momentum from Q2, the company achieved its first growth quarter of the year, reporting a top-line revenue of $21.4 million, a 4% increase quarter-over-quarter and a 3% increase year-over-year.

The company’s adjusted EBITDA for the quarter was $2.56 million, representing a 12% margin and marking the eighth consecutive profitable quarter above $2.5 million. East Side Games Group continues to demonstrate strong performance metrics across its core portfolio, with an average daily user count (DAU) of 236,000, a stickiness rate of 24%, and an average revenue per daily active user (ARPDAU) of $0.99.

“Our focus on profitability within our existing portfolio has paid off, and we are excited to further enhance our user acquisition strategies,” said Jason Bailey, CEO of East Side Games Group. “With $8.3 million in cash—our highest balance since Q2 2022—we are well-positioned to invest in our future game launches and bolster our share buyback program.”

One of the key drivers of growth this quarter was the launch of POWER RANGERS: MIGHTY FORCE in August, which quickly garnered nearly 30,000 daily active users and demonstrated impressive return on advertising spend (ROAS) figures.

In Q3, the company also enhanced its revenue generation through innovative strategies. The introduction of bi-monthly season passes for popular titles like Trailer Park Boys: Greasy Money and Cheech and Chong: Bud Farm resulted in a remarkable 40% increase in season pass revenue.

In a major collaboration, East Side Games Group partnered with BBC and Paramount to create the Intergalactic Friendship Day crossover event between Star Trek Lower Decks: The Badgey Directive and Doctor Who: Lost in Time, generating substantial organic traffic and setting new ARPDAU records.

Looking forward to Q4, East Side Games Group is excited to introduce team-based cooperative and competitive play features into titles such as Trailer Park Boys: Greasy Money and RuPaul’s Drag Race Superstar, anticipating a significant boost in player engagement and monetization.

Moreover, the company is preparing to launch Trailer Park Boys: Greasy Money on the Epic Games Store, expanding its reach in a new mobile marketplace with favorable revenue-sharing terms. This is a very exciting opportunity, only being afforded to a few game studios.

Finally, East Side Games Group is thrilled to announce our upcoming title, RuPaul’s Drag Race Match Queen, developed in partnership with Funkitron and World of Wonder. Slated for a 2025 release, this hybrid match-3 game combines beloved gameplay elements with captivating fashion and character features, catering to the passionate fanbase of RuPaul’s Drag Race.

Mike Edwards will be stepping down from the ESGG Board of Directors to focus on other pursuits, effective immediately. ESGG thanks him for his invaluable guidance over the past 12 years and is currently in discussions with several highly qualified candidates for his replacement.

Three Months Ended Sep 30, 2024 Financial highlights

For the quarter ended September 30th, 2024, revenue was $21.4M.Q3 2024 a-EBITDA of $2.56M and 12% a-EBITDA margin.Cashflow for the Company for the quarter ended September 30, 2024 increased by $700k, ending at $8.3M.Daily Active Users in Q3 were 236k, with an ARPDAU of $0.99On November 14, 2023, the Company announced a renewal of its Normal Course Issuer Bid (“NCIB”) authorizing the Company to purchase 4,076,819 of its shares. Through September 30, 2024, the Company purchased 1,540,719 shares at an average price of $0.76. The company continues to buy back stock as restrictions allow.

Certain information provided in this news release is extracted from the consolidated financial statements (the “Financial Statements”) and Management’s Discussion & Analysis (“MD&A”) of the Company for the quarter ended September 30, 2024, and should be read in conjunction with them. It is only in the context of the fulsome information and disclosures contained in the Financial Statements and MD&A that an investor can properly analyze this information. The Financial Statements and MD&A can be found under the Company’s profile on SEDAR and EDGAR.

Earnings Call Video

ESGG will release its third-quarter 2024 financial results and business outlook on its investor relations website https://eastsidegamesgroup.com/investors/financial-information on Thursday, November 14th, 2024, at approximately 2:00 p.m. Pacific Time.

ABOUT EAST SIDE GAMES GROUP

East Side Games Group is a leading free-to-play mobile game group, creating engaging games that produce enduring player loyalty. Our studio groups entrepreneurial culture is anchored in creativity, execution, and growth through licensing of our proprietary Game Kit software platform that enables professional game developers to greatly increase the efficiency and effectiveness of game creation in addition to organic growth through a diverse portfolio of original and licensed IP mobile games that include: The Office: Somehow We Manage, Star Trek: Lower Decks – The Badgey Directive, Bud Farm Idle Tycoon, Doctor Who: Lost in Time, RuPaul’s Drag Race Superstar, AEW: Rise to The Top, Cheech and Chong Bud Farm, and Trailer Park Boys: Grea$y Money.

We are headquartered in Vancouver, Canada and our games are available worldwide on the App Store and Google Play. Additional information about the Company continues to be available under its legal name, East Side Games Group Inc., at www.sedar.com.

Forward-looking Information

Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the proposed transactions described herein. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including factors beyond the Company’s control. These forward-looking statements are made as of the date of this news release.

SOURCE East Side Games Group Inc.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Covetrus Announces AI-Powered Workflow Automation and Treatment Board Capabilities Enhancing the Covetrus Platform

Published

on

By

Innovative Veterinary Practice Improvement Company Drives Veterinary Practice Efficiency, Greater
Patient Care, and Customer Loyalty with Cutting-Edge AI Enhancements

PORTLAND, Maine, Jan. 26, 2025 /PRNewswire/ — Covetrus®, the first tech-enabled veterinary practice improvement company, today announced at the VMX 2025 conference (booth #2104) its AI-powered workflow automation and treatment board capabilities within Covetrus Pulse™, now an integral part of the newly advanced Covetrus Platform™.

These advancements will set the stage for a redefined veterinary experience by streamlining operations, reducing administrative burden, enhancing business insights, and boosting client loyalty. Through these enhancements, clinics can improve productivity, allowing veterinarians and clinic staff to spend more time with patients and pet parents. 

“Veterinarians are increasingly seeking ways to optimize their practice workflows while maintaining the highest level of care for their patients,” said Scot Gillespie, Chief Product and Technology Officer at Covetrus. “By integrating AI-driven automation into the Covetrus Platform, we are empowering veterinary teams to enhance efficiency, generate greater insights to support patient care, and increase personalized communication to support pet parents.” 

Transforming Veterinary Workflows with AI
The newly enhanced AI capabilities are available at no additional cost in Covetrus Pulse and provide: 

Ambient Listening & Auto-Generated SOAP Notes (Subjective, Objective, Assessment, and Plan) – AI-powered transcription captures real-time conversations during appointments and auto-generates SOAP notes, saving valuable time per visit. Pre-Appointment Summaries – AI generates concise patient summaries based on practice management system (PIMS) data, allowing veterinarians to prepare more efficiently before appointments.Treatment Boards – AI Enhances care team collaboration by providing real-time updates on patient treatments, ensuring seamless communication across the practice. 

Measurable Impact for Veterinary Practices
The adoption of AI-powered tools within Covetrus Pulse is already delivering significant benefits, including: 

Time Savings – Veterinary professionals can save up to five minutes per appointment, allowing for at least an additional hour per day per practitioner.Improved Staff Efficiency – Reducing administrative workload alleviates staff burnout and enhances overall productivity. AI features in Pulse will streamline workflows through visit summaries, automatic SOAP notes via ambient listening, and AI-suggested next-best actions. Revenue Growth – AI-driven efficiencies help increase pharmacy utilization and overall patient care engagement. 

“As a veterinarian with several practices, I understand first-hand the competitive pressures that veterinary practices continue to face,” said Dr. Link Welborn, Chief Veterinary Officer at Covetrus. “Today, AI-driven automation is an essential tool to help alleviate administrative burdens, drive better insights, and improve operational efficiency. Through the thoughtful use of AI, we will gain greater insights into our patient’s journey with the ability to personalize care and communications to increase overall satisfaction.” 

Covetrus remains committed to advancing AI technologies to further support veterinary practices. By unifying data across the Covetrus Platform, veterinarians will ultimately have an end-to-end view of the client journey; be able to gain greater business insights through machine learning models; and deliver more personalized communications by surfacing customized recommendations for each patient. 

Experience the Power of Covetrus’ AI Capabilities at VMX 2025
To learn more about the benefits of AI-driven workflow automation, please join Scot Gillespie, Chief Product and Technology Officer, and Link Welborn, Chief Veterinary Officer, for their presentation, The Animal AI Revolution: How Technology is Transforming Veterinary Care, on Monday, January 27 at 5:45 p.m. ET, South Concourse, Room S330A. 

VMX attendees interested in learning more can also visit the Covetrus in booth #2104. To schedule a demo of the Covetrus Platform, visit https://covetrus.com/covetrus-platform/#demo.

For further information on the practice improvement platform, please visit https://covetrus.com/covetrus-platform/.

About Covetrus
Covetrus is a technology-enabled practice improvement company servicing veterinary clinics around the world. Our mission is to improve the financial and clinical outcomes for veterinarians.

Our comprehensive practice improvement solutions and tools simplify every touchpoint in a veterinarian’s practice—from pre-visit to post-appointment—to deliver a connected experience that helps veterinarians compete effectively and grow their practice. Through the VetSuite network, members become part of an exclusive community, gain access to exclusive events, trainings, and education, and, through our collective buying power, achieve lower costs. 

Covetrus is headquartered in Portland, Maine, with more than 5,000 employees serving over 100,000 customers around the globe, and is owned by Clayton, Dubilier & Rice (CD&R), and TPG. With 60 years of history and heritage, Covetrus is the only organization to provide a one-stop, truly comprehensive solution to drive better financial and healthcare outcomes for veterinary practices. 

View original content to download multimedia:https://www.prnewswire.com/news-releases/covetrus-announces-ai-powered-workflow-automation-and-treatment-board-capabilities-enhancing-the-covetrus-platform-302360244.html

SOURCE Covetrus

Continue Reading

Technology

Hisense TV Shipment Share at 14.06% in 2024, Maintains Top Two Global Position for Three Consecutive Years

Published

on

By

QINGDAO, China, Jan. 26, 2025 /PRNewswire/ — Hisense, a leading brand in global consumer electronics and home appliances, has reinforced its dominance in the global TV market achieving an unprecedented three consecutive years of second-highest annual TV shipment volume worldwide. According to the latest report from AVC Revo, Hisense demonstrated exceptional performance in 2024, capturing a significant year-on-year shipment increase of 11.9%, with a shipment share of 14.06%. From 2022 to 2024, Hisense TVs have consistently maintained No. 2 spot in global TV shipments share for three consecutive years.

In 2024, Hisense consolidated its position in the worldwide TV market, accounting for 14.06% of global TV shipment share. Benefiting from sponsoring major sporting events and the strong market demand for large screen TV, Hisense achieved a shipment share of 47% in the global 100-inch-and-above TV market in 2024, ranking No.1 worldwide.

Driving this success is Hisense’s relentless pursuit of technological advancements. At CES 2025, the company unveiled groundbreaking innovations, including the revolutionary 116-inch TriChroma LED TV with RGB Local Dimming Display Technology and the consumer-ready 136-inch MicroLED display, showcasing a bold vision for the future of home entertainment. Hisense is also elevating the TV viewing experience to new heights of personalization and convenience. These innovations will provide fans with immersive experience in the FIFA Club World Cup 2025™. “For me, the three keywords for 2024 were passion, dedication, and innovation.” said David Gold, Vice President of Hisense International and President of Hisense Americas. “With these three key words, it’s how we were able to really achieve such strong results throughout the year.”

From driving the innovation of ultra-high definition, intelligent displays to creating seamless AI technology that works behind the scenes; from advancing energy-efficient solutions to driving immersive entertainment experiences, Hisense is committed to technology that is rooted in delivering real value to consumers and improving how people live, connect, and enjoy the moments that matter most.

About Hisense
Hisense is a leading global home appliance and consumer electronics brand. According to Omdia, Hisense ranked No. 2 globally for total TV shipments and No. 1 in 100”+ TVs. The company has rapidly expanded to operate in more than 160 countries and specializes in multi-media goods, home appliances, and intelligent IT information.

 

SOURCE Hisense

Continue Reading

Technology

Form1099online.com Has a Big Impact on Tax Season 2025 with Secure Form 1099 Filing Options

Published

on

By

WICHITA, Kan., Jan. 26, 2025 /PRNewswire-PRWeb/ — As the 2025 tax season begins, Form1099online.com leads in providing trustworthy, productive, and low-cost Form 1099 filing services. Prices start at just $0.75 per form. Companies and tax experts can now use a simple safe filing process without spending too much.

Form1099online.com is a leader in online tax filing, offering IRS-approved, secure e-filing for Form 1099. Its advanced platform, competitive pricing, and dedicated support make it the preferred choice for businesses and tax professionals seeking reliable, efficient filing solutions.

Cheap, Quick, and Dependable E-Filing Services to Fit Your Needs

Form1099online aims to offer top-notch e-filing answers. These fit the special needs of businesses, contractors, and tax experts. Main features include:

Low Prices: Filing costs as little as $0.75 per form, which is great value for businesses of all sizes.Free Help for Customers: Get U.S.-based help any time through chat, email, and phone to solve all Form 1099 questions.Bulk Import Feature: Make entering lots of data easier by uploading many recipient records in one Excel sheet. This cuts down on mistakes and helps you work faster.IRS Approval: Form1099online is an IRS-certified e-file provider, so you can trust that your information will be sent in line with all the rules.TIN Checking Services: To reduce errors and avoid expensive IRS correction notices, make sure payee TINs and legal names match those in the IRS database.

Prepare and E-File IRS 1099 NEC, MISC, INT, DIV, R, A, S & K Forms with Ease

Form1099online simplifies the process of preparing and filing various 1099 forms. Its easy-to-use platform handles different filing needs making sure every filer can meet IRS rules with confidence and ease. From contractors to companies, Form1099online.com stands out as the go-to choice to comply with tax laws.

Features That Help Tax Experts and Businesses

Form1099online understands the problems tax professionals and businesses face when the filing season gets busy. To help with these, it offers:

Multi-Payer Management: Take care of many payer accounts with one login. Skip repeated sign-ups and make client management smoother, which saves a lot of time.File When and Where You Want: Submit Form 1099 from any device, like phones, computers, or tablets. This gives users the freedom to file whenever and wherever they need to.Quick Filing Updates: Get instant IRS confirmations and alerts about filing status to stay in the loop and follow the rules.

Why Form1099online.com Is the Top Pick

Form1099online stands out as a leading e-filing solution for the 2025 tax season by bringing together new ideas low costs, and easy-to-use features:

Quick Processing: You can finish your filings in less than 5 minutes helping you meet deadlines on time.Good for the Environment: Switch to filing without paper to help the planet and cut down on office work.Safe Transactions: Feel at ease knowing that strong security and coding keep all user information safe.

Start Reporting Form 1099 on Form1099Online

Key IRS Due Dates to Keep in Mind

The IRS requires payers to submit Form 1099 and give Copy B to recipients by January 31, 2025. Form1099online.com offers automatic reminders, step-by-step guides, and live updates to help users meet these important deadlines and steer clear of fines.

About Form1099online.com

Form1099online.com leads the pack in online tax filing options, with IRS approval to provide smooth and protected e-filing of Form 1099. Its cutting-edge platform unmatched prices, and committed customer care have made it the top pick for companies and tax experts looking for trustworthy and quick filing methods.

Contact Information

+1 316-869-0948

support@form1099online.com

For more information and to experience hassle-free 1099 filing, visit Form1099online.com today.

Media Contact

Alex, form1099online, 1 3168690948, support@form1099online.com, www.form1099online.com

View original content:https://www.prweb.com/releases/form1099onlinecom-has-a-big-impact-on-tax-season-2025-with-secure-form-1099-filing-options-302359781.html

SOURCE form1099online

Continue Reading

Trending