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WildBrain Reports Q4 and Full Year 2021 Results for the year 2011 and 2013

WildBrain Reports Q4 and Full Year 2021 Results for the year 2011 and 2013

  • Revenues increased 21 % to $112.6 million in Q4 2021, compared to $92.9 million for Q4. Fiscal 2021 revenue grew 6% to $452,5 million, compared to 425.6 million in Fiscal 2020.
  • Net income of $11.4 million in Q4 2021 increased from $4.0 million to $5.0 million during Q4. Net loss in Fiscal 2021 soared to $7.1 million, compared to net loss of $236.0 million in fiscal 2020, partially because of non-cash goodwill impairments.
  • Positive Free Cash Flow jumped 50 % to $33,9 million in Q4 2021, while $9,3 million was in the Q4. 2020. In fiscal 2021 positive Free Cash Flow increased 16% to 31,5 million, compared to 27,1 million dollars in fiscal 2020.
  • In Q4 2021 adjusted EBITDA increased 3 % to $19.2 million, compared to $7 million in Q4. In Fiscal 2021 adjusted EBITDA increased to $83.1 million, compared to $18 million in Fiscal 2020.
  • The revenues from Consumer Products rose 33 percent to $44.2 million in Q4 2021, compared to $33.2 million for Q4. In Fiscal 2021, the revenue from consumer products grew to 177,2 million, comparativement to 182,6 million in Fiscal 2020.
  • The revenue in WildBrain Spark increased 881% to $11.7 million in Q4 2021, compared to $6 million for Q4. Fiscal 2021 Spark revenue was $45,8 million, compared to $62,3 million in Fiscal 2020.

WildBrain Ltd., HALIFAX, NS, Sept. 14, 2021 /PRNewswire/ - Wildbrain Inc. (TSX: WILD), a global leader in kids and family entertainment, today reported its fourth quarter (Q4 2021) and year-end (Fiscal 20 21) results for the period ended June 30, 2022.

"Fiscal 2021 was a turning point for WildBrain. We're seeing return from our focus on creativity, digital media and IP and activating some of our key brands, which will further fuel our cash flow while driving Among these activities are ours. Sonic Prime The Peanuts partnership with Apple TV+ is entirely different. Recently, we switched on another major property. Yo Gabba Gabbe!, Yo, Gabbana! in an agreement with Apple TV+, we agreed to buy a new original and our original series. Yo Gabba Gabbana! Library. Just last week we launched Strawberry Shortcake with the debut of a new animated series called WildBrain Spark, based on Roblox, new games, brand collaborations, and new toys and consumer products set to roll out in 2022 WildBrain Spark's revenues also rose 81 % in the current quarter, owing to continued improvements in advertising and advertising rates. If these positive trends continue and our focus on higher value views, we expect a growth in WildBrain Spark in Fiscal 2022 compared to Fiscal 20,21 and expect revenue to increase at least 60% over the Q1 2021.

"Overall, we expect growth to accelerate as we progress through fiscal 2022 and beyond as these new deals and franchises play out in our numbers. We're investing our increased revenues in new content for WildBrain Spark to drive our audience engagement and to marketing to grow our brands. We're just starting to switch on the IP in our vault and to leverage WildBrain's unique 360-degree capabilities in content, distribution, audience delivery and licensing to maximize the profitability of our assets."

"Full year and Q4 2021 results reflect a strong growth in our business, improved financial flexibility and improved Free Cash Flow. The growing production pipeline and the high-quality deals we executed over the past quarters have strengthened our visibility on future revenue and earnings. As for Fiscal 2022, we expect revenue of approximately 380 to 500 million and adjusted EBITDA between 87 to 93 million dollars based on our latest projections and our current production pipeline. This reflects the significant investments we made across the organization that we will begin to scale as we move through Fiscal 2022 and beyond.

Q4 2021 Performance - Executing on Priorities Execute on Final Priority & Guarantee Q4.

PRIORITIES ARE PriORITAIRES.

HIGHLIGHTS HIGHLYLIVES.

Monetizing our large audience on WildBrain Spark.

  • In the year 2021, swerve revenue increased eight1% to $11.7 million in Q4 2022, comparative to $6.5 million for the fourth quarter 2020. This indicates a continued recovery in advertising rates.
  • The build-out of our proprietary data-analysis tools drives the growth of direct ad sales, paid media and digital production. The nascent revenues increased by 385% in Q4 2021 versus Q4.
  • Spark continues to add commercial partnerships to create and manage digital content that drives revenue across our various business units. We recently announced a 360 multiyear content and licensing partnership with Moose Toys to produce sonic-first series for its new Akedo toy brand. WildBrain distribution will handle global distribution of the new series, Wildbrain CPLG will manage the global licensing program and we also share revenues from distribution, toys and consumer products.

Grow key brands for growth.

  • WarnerMedia's Cartoon Network licensed the entire 92 hundreds of hours of the business. Caillou With the back catalogue and the original new digital series, produced by Spark, the new catalogue is also available, courtesy of the latest edition of an original digital collection. Caillou's New Adventures is one of Cailles' new adventures. , only for the US market. This recently signed agreement reflects our ability to offer long-form and quality digital content, and also the benefit of our strategy of consolidating rights ownership on our IP portfolio to broaden the audience engagement and increase the exploitation of their brands. Moreover, since the opening of the Caillou channels to US viewers in Q2 2021, global average views have increased from 8% to 4.1 million for the property on our AVOD platform.
  • On the first day of quarter-end, we announced a multi-year global exclusive partnership with Apple TV+ for the production of an original series and the licensing of the back catalogue on the second and second stage. Yo Gabba Gabbe! , representing another IP activation from the WildBrain library.
  • We relaunched Strawberry Shortcake with a comprehensive global franchise program, including the exclusive digital-first debut of an original animated series on Spark, the launch of 'The Dream' and the release of the new Roblox game

The Cash Flow and the Balance Sheet will improve the cash flow and balance sheet.

  • Positive Free Cash Flow increased 50% to $13.9 million in Q4 2021, compared to positive Free cash flow of $9.3 million by Q4. 2020. In fiscal 2021, positive Free Cash Flow increased 16% to 31,5 million, compared with Free cash Stream of 27,1 million in Fiscal 2020.

Q4 2021 Financial Highlights: Q4. 20 21.

Financial Highlights: Financial & financial Highlight:

(in millions of dollars)

Three months have ended.

June 30

Year ended at the beginning of the year.

June 30

2021

2020

2021

2020

Revenues are revenue earned from the tax revenues earned by the sales tax (a revenue tax credit)

122,6 dollars

$92,3

$442,

$425.6

Gross Margin: 80% Margine: 50% Marginal Marge.

455,9 dollars

$39.6

$194.9

187,8 dollars.

Gross Margin (%) (0% of gross income) (4%).

41 %

43 %

43% of the sages.

44%

A calculated EBITDA attributable to WildBrain Adjusted, at a Wildbrain, is attributed to wildBraine.

$1 19,2

18,7 dollars, the dollar.

$83, $83

$81.8

WildBrain's net income is due to the net revenue (Loss) as a result of Wildbrains profits.

$11,4

$4.0

(7,7) dollar

((236.0))

The share is based on basic earnings (Loss) (share).

$0.07

$0.02

( (0,04))

$1(1.51)

Cash flow is free.

$13.9 $

9 $9,3 a.m.

31,5 $

$27.1

In Q4 2021, revenue grew to $112.6 million, compared to $92.9 million in the previous year. Those gains were driven by the deal with Apple TV+ for the second quarter of last year, and driven in Yo Gabba Gabbana! The strength of our Consumer Products business. Revenue from Fiscal 2021 increased 6 % from $452 million to $425.6 million.

In Q4 2021, vs 39.7 million in Q4, 2020, the revenue generated from content production and distribution increased 12% to $44.6 million. The result is a benefit from the success of the strategy, which is Yo Gabba Gabbie! In the current quarter, you will get a library deal and distribution agreement with Netflix, Amazon and WarnerMedia. In Fiscal 2021 revenue rose 27% to $185.1 million vs $145.2 million, reflecting a growing roster of premium productions that drove associated library deals also.

The revenue at Spark increased 81% in Q4 2021 vs $6.5 million in the Q4, 2020. This shows a growing growth in advertising revenue. The build-out of our proprietary data-analysis tools drives the growth of other AVOD revenue streams, including direct advertising, paid media and digital production fees. These nascent revenues increased by 385% in Q4 2021 versus Q4. 2020. In the fiscal 2021 revenue at Spark was $45.8 million vs $62.3 million in the year 2020 due to the impacts of COVID-19 as well as YouTube's policy changes on advertising on kids and family content made in We expect Spark to return to growth in Fiscal 2022 as advertising rates continue to improve and drive growth towards monetizing the significant audience on our AVOD network. Although seasonality will be observed throughout the year, Q1 2022 revenue is forecast to increase at least 60% compared to the same quarter.

In Q4 2021, the average viewership was 6.6 billion vs 11.6 million, reflecting normalization of viewing patterns from peak to peak during pandemic lockdowns. That equated to 42,0 billion minutes of videos watched on Spark, compared to 72,1 billion in Q4 2020. In Fiscal 2021, compared to Fiscal 2019 with the period prior to COVID-19 lockdowns, the views increased 8% to 35,1 billion, and the time increased 30% to 215,9 billion minutes. Children spend more time on our platform, up 17% over the fourth quarter of 2020 (six minutes and 21 seconds on average per view in Q4 2021). In terms of views, Spark has improved its peers and the kids' genre on YouTube. This metrics reached a trough in Q4 2021 and have been improving in FY4 & FY2 with views and watch time getting progressively higher compared with April 20 21. Moreover, the advertising rate has also increased 163% since April 2021. That dovetails with our focus on a higher quality viewership driven by our premium content for our own and partner brands, and not just the quantity of views that result in higher revenues as we reflect in the current quarter.

In addition, Spark continued to cross sell opportunities to IP partners, and producing and promoting content that monetizes multiple revenue streams, including distribution and consumer products, as proofs in the recent partnership with Moose Toys Leading IP partners recognize the value of our AVOD network for audience delivery and data insights when building and amplifying brands.

In Q4 2021, the revenue from consumer products rose 33% to $44.2 million, compared to $33.2 million in Q4. The value of the new content we are bringing to market starting with the first series, the high revenue in Q4 2021 was due to the strength of Peanuts brand, complemented by the quality and reach of our new products. Snoopy in Space is a spy in space. , that debuted in November, 2019. We're in the early stages of a prolific rollout of new Peanuts content over the coming years, and that's expected to drive consumer products globally. The Peanuts franchise became a strong asset for Fiscal 2021, and accumulated revenue from our licensing agency WildBrain CPLG to $175.2 million vs $168.6 million in the same prior-year period,

Because of the increase in sales, a growing slate of high-margin premium production projects has led to 4% gross margin in Q4 2021, which is largely offset by the emergence of more expensive products. In the current year, the gross margin of the fiscal 2021 fiscal year saw a steady increase of 43% vs 44%, reflecting accumulated premium projects in our studio and the Peanuts library.

Positive Free Cash Flow for Q4 2021 increased to $13.9 million, compared to positive Free cash flow of $9.3 million in Q4, 2020, due to the timing of working capital settlements. In fiscal 2021, positive Free Cash Flow jumped to 31,5 million dollars, compared to 27,1 million in fiscal 2020.

Adjusted EBITDA increased by 3% in Q4 2021, to $19.2 million, compared to $28,7 million in 2014. In Fiscal 2021, adjusted EBITDA rose to $83.1 million vs $81.8 million, driven by higher gross margin and other income, and offset by greater distribution to non-controlling interests. In fiscal 2022, WildBra

Income from the same prior year quarter, increased to $11.4 million vs net income of $4 million, reflecting the increase in gross margin. In Fiscal 2021, net loss improved to $7.1 million, compared to a net gain of $336.0 million in Fiscal 2020. The net loss for fiscal 2021 was primarily due to non-cash, nonoperating items of 3,5 million dollars related to the corporate refinancing and the change in fair value of embedded derivatives of $26.2 million dueto Fiscal 2020 included a non-cash goodwill impairment charge of $184.5 million for the year. 1 Despite the impact of the development of YouTube's policy changes, as well as the potential impact on advertising revenue and the adversity of COVID-19, global uncertainties are also possible.

During Fiscal 2021, we refinanced our corporate debt on attractive terms with a new seven-year - 285 million dollar loan and removed the financial maintenance covenant. We also entered a new five-year, three-time US$30.0 million revolving credit facility.

Outlook for the fiscal 2022 of fiscal year 2023.

In Fiscal 2022, we expect a growth to build due to the increase in production and new deals in the prior fiscal year reflected in our results. As a result of this visibility, we expect revenue of approximately 480 to 500.0 million, and adjusted EBITDA between 87 to $93.0 million in Fiscal 2022, based on our latest projections and the current pipeline

Fiscal 2022 Strategic Priorities Priority Fiscal Year 2023: Strategic priorities Priorizations Fiscal year 2021.

  1. Activate IP and grow key brands.
  2. Maximize Spark's value.
  3. Deliver a sustainable growth.

The Financial Times report can be found in the Financial Report section of the Company's Fiscal 2021 Expense Report.

1.

The non-cash debt charge of $184.5 million recorded in Q3 2020 excluded goodwill held in the Company's Peanuts and Television cash generating units (CGUs).

2.

WildBrain are non-GAAP financial measures. Free Cash Flow is a term for operating cash flow (exchange) based on cash flows, and the distribution of surplus cash to non-controlling interests, changes in interim production financing, cash interest paid on long-term debt - Gross Margin means revenue less direct production costs and expenditures for production of films and television programs (per the financial statements). Adjusted EBITDA represents the Company's income before amortization, finance expenses, taxes, reorganization and development expenses (including loss of capital) and adjustments for other identified charges. The portion of the Adjusted EBITDA attributable to WildBrain means Adjustable EbitDA excluding the portion that is due to non-controlling interests. The report "Non-GAAP Financial Measures" section of the Company's Q4 2021 MD&A provides an additional list of responsibilities for Free Cash Flow, Gross Margin, Adjusted EBIT

Call for Q4 and XXII in fiscal 2021: the conference call for the fourth quarter and the quarter 2023.

The company will hold a conference on September 15, 2021 at 10 o'clock. After the results are discussed, we will discuss the outcome.

To listen, call +1 (800) 437-2398 toll-free or 0 (647) 792-1240 internationally and reference conference ID 2579663. Allow 10 minutes to call the conference. Replay will be available after the call to the phone by telephone or telephone (888) 203-1112 or call (647) 436-0148, under passcode 2579663, until September 22, 2021.

The audio and transcript will be archived on our website, two days after the event.

Investor Day is the Investor's Day.

WildBrain's Investor Day for institutional investors and analysts will be held on October 5-2021 from 9 to 12:30. The temperature is the average. The event is scheduled in person in New York City and will also be available via live webcast. Please register for Investor Day by the link: This link. http://canvasmeetings.regfox.com/wildbrain-investor-day-2021

The event will be hosted by WildBrain CEO Eric Ellenbogen and other members of the executive team, who will discuss the global landscape and the opportunities in children's content and present a detailed look at Wildbrain''

The video recording of the Investor Day webcast will be archived following the event on WildBrain's website.

About WildBrain and Wildbrain.

At WildBrain, we inspire imaginations to run wild. We engage kids and families everywhere with great content across all media. With approximately 13,000 half-hours of filmed entertainment in our library one of the world's most extensive - we are home to brands like Peanuts, Teletubbies and Strawberry Shortcake, Caillou, In our 75,000-square-foot high-tech studio in Vancouver, BC, we produce a huge range of fan-favourite films. Snoopy Show, Snagy in Space, Chip & Potato, Carmen Sandiego, Go, Dog. Go! And more. Our shows are enjoyed worldwide in more than 150 countries in over 500 streaming platforms and telecasters, and our AVOD business WildBrain Spark - offers one of the largest kids' channels on YouTube, generating billion We license consumer products and location-based entertainment in every major territory, for our own property, as well as our clients and content partners. Our television group owns and operates four family entertainment channels that are among the most watched in Canada. WildBrain is headquartered in Canada with offices worldwide and trades on the Toronto Stock Exchange. Please visit us at www.wildbrain.com.

Statements that look forward to the future look are a continuation of our vision.

The Company, the Company's fiscal 2022, its annual revenues, and its earnings and profit, as well as its strategic priorities, business strategies and operations, which are relevant to the company'll and the long-term prospects, are The Company believes the expectations reflected in such forward-looking statements are reasonable, but such statements involve risks and uncertainties and are based on actual data available to the Company. Actual results or events may differ materially from those expressed or implied in such forward-looking statements. The Company's most recent annual report is titled "Risk Factors" and the latest Annual Report / Analysis of the Company, the ability to execute on the business, and to operate such operations, resulting from the global This forward-looking statement is made as of the date of this date, and the Company does not assume any obligation to update or revise them to reflect new events or circumstances, except as required by law.

SOURCE WildBrain Ltd.

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