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

Company: DESTINY MEDIA TECHNOLOGIES INC
Filing Date: 2025-04-14
Form: 10-Q
Item: Part I, Item 2
Chunk 14
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 of these expenses.

  Six Months Ended       Sales and marketing expenses February 28,2025  February 29,2024  $ Change  % Change  Wages and benefits$ 355,129 $433,705  (78,576) (18.1%) Advertising and marketing 33,116  45,168  (12,052) (26.7%) Rent 13,536  18,892  (5,356) (28.4%) Telecommunications 700  3,093  (2,393) (77.4%) Total sales and marketing expenses$402,481 $500,858  (98,377) (19.6%) 

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.

  Six Months Ended       Product development expenses February 28,2025  February 29,2024  $ Change  % Change Wages and benefits$ 638,674 $577,417  61,257  10.6% Software services 52,515  49,820  2,695  5.4% Rent 36,455  36,076  379  1.1% Telecommunications 112,135  64,417  47,718  74.1% Product development expenses$839,779 $727,730  112,049   15.4% 

Product development costs increased as a result of a lower capitalization rate associated with software development.  This increase is partially offset by a reduction in overall staffing, as the Company prioritized increased productivity and operational efficiency. 

Depreciation and Amortization

Depreciation and amortization expense increased to $350,703 for the six months ended February 28, 2025 from $168,124 for the six months ended February 29, 2024, an increase of 108.6% due to depreciation of additionally capitalized software development costs associated with Play MPE® recipient player applications during the period.

Other Income

Interest income earned