Company: DSNY
Filing Date: 2025-04-14
Form Type: 10-Q
Source: 0001062993-25-007398
Chunk: 11

Company: DESTINY MEDIA TECHNOLOGIES INC
Filing Date: 2025-04-14
Form: 10-Q
Item: Part I, Item 2
Chunk 11
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152,217 $250,120  (97,903) (39.1%) Advertising and marketing 10,444  22,430  (11,986)  (53.4%) Rent 8,962  10,858  (1,896) (17.5%) Telecommunications 300  1,593  (1,293) (81.2%) Total sales and marketing expenses$171,923 $285,001  (113,078)  (39.7%) 

Sales and marketing expenses declined as the Company restructured its business development group, leading to a reduction in overall staffing. Looking ahead, the Company expects to increase these expenditures, with a focus on marketing-related initiatives, as upcoming Play MPE® platform enhancements are anticipated to drive greater customer adoption.

  Three Months Ended       Product development expenses February 28,2025  February 29,2024  $ Change  % Change Wages and benefits$ 322,097  $342,594   (20,497)  (6.0%) Software services 27,635  27,318  317  1.2% Rent 21,876  18,200  3,676  20.2% Telecommunications 56,127  31,071  25,056  80.6% Product development expenses$427,735 $419,183   8,552  2.0% 

Product development salaries and wages declined due to a reduction in overall staffing, as the Company prioritized increased productivity and operational efficiency. These costs were offset by increases in investments in infrastructure.

Depreciation and Amortization

Depreciation and amortization expense increased to $183,724 for the three months ended February 28, 2025 from $87,026 for the three months ended February 29, 2024, an increase of 111.1% due to depreciation of additionally capitalized software development costs associated with Play MPE® recipient player applications during the period.

Other Income

Interest income earned on the Company's investments was $6,493 for the three months ended February 28, 2025 (February 29, 2024 - $15,461).

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RESULTS OF OPERATIONS FOR SIX MONTHS ENDED F