Company: DSNY
Filing Date: 2025-04-14
Form Type: 10-Q
Source: 0001062993-25-007398
Chunk: 57

Company: DESTINY MEDIA TECHNOLOGIES INC
Filing Date: 2025-04-14
Form: 10-Q
Item: Part I, Item 1
Chunk 57
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, 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).

16

RESULTS OF OPERATIONS FOR SIX MONTHS ENDED FEBRUARY 28, 2025 AND FEBRUARY 29, 2024 

  Six Months Ended   February 28, 2025  February 29, 2024  Change Service revenue$2,245,729 $2,141,140 $104,589 Cost of revenue 305,402  298,764  6,638 Gross margin 1,940,327  1,842,376  97,951 Operating expenses 2,139,182  1,749,859  389,323 Income from operations  (198,855) 92,517  (291,372)Other income 14,901