Company: DSNY
Filing Date: 2025-01-14
Form Type: 10-Q
Source: 0001062993-25-000745
Chunk: 12

Company: DESTINY MEDIA TECHNOLOGIES INC
Filing Date: 2025-01-14
Form: 10-Q
Item: Part I, Item 2
Chunk 12
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 to Adjusted EBITDA provide further clarity on our profitability. We remove the effect of non-cash stock-based compensation from our earnings which can vary based on share price, share price volatility, and expected life of the equity instruments we grant. In addition, this stock-based compensation expense does not result in cash payments by the Company. Adjusted EBITDA has limitations as a profitability measure in that it does not include provisions for income taxes, the effect of our expenditures on capital assets, the effect of non-cash stock-based compensation expense and the effect of asset impairments. The following is a reconciliation of net income from operations to Adjusted EBITDA:  Q1 2025  Q4 2024  Q3 2024  Q2 2024  Q1 2024  Q4 2023  Q3 2023  Q2 2023 Net income (loss)$118,140  (142,222) 134,476  (130,012) 249,516  (28,944) 107,052  (1,276)Stock-based compensation 10,759  11,107  11,359  10,655  13,805  34,605  38,085  38,085 Depreciation and amortization 166,979  213,917  87,760  87,026  81,098  128,842  37,182  35,952 Interest income (8,408) (10,529) (13,685) (15,461) (11,526) (10,460) (9,593) (8,777)Adjusted EBITDA$287,470  72,273  219,910  (47,792) 332,893  124,043  172,726  63,984 LIQUIDITY AND FINANCIAL CONDITIONAs at November 30, 2024, we held $1,526,761 (August 31, 2024 - $1,481,582) in cash and cash equivalents. The Company’s cash equivalents consist of investments in mutual funds with a major Canadian financial institution that earn interest at variable interest rates ranging from 4.30% – 4.90%.At November 30