Company: DSNY
Filing Date: 2025-01-14
Form Type: 10-Q
Source: 0001062993-25-000745
Chunk: 8

Company: DESTINY MEDIA TECHNOLOGIES INC
Filing Date: 2025-01-14
Form: 10-Q
Item: Part I, Item 2
Chunk 8
---
 and newer internet only stations now stream to digital receivers. With this industry change, a product like MTR™ is now possible. MTR™ is a standalone business distinct from the Play MPE® platform. The Company expects that MTR™'s initial customers will overlap with the Play MPE® customer base. Play MPE® customers have expressed an interest in this type of service.Clipstream®The Company also developed Clipstream® for the online video industry for which it is pursuing strategic alternatives. The Clipstream® Online Video Platform (OVP) is a self-service system, for encoding, hosting and reporting on video playback which can be embedded in third party websites or emails. Playback is currently through the Company's proprietary JavaScript codec engine, which is only available on the internet through the Company.  The unique software-based approach to rendering video, has patents claiming initial priority to 2011. This product has incidental revenues and is not supported or marketed.Products under developmentDestiny is currently developing additional functionality and complimentary services that are expected to expand the Company's addressable market, or act as catalysts to the Company's sales activities for Play MPE®. These are described more fully in business development section of our Annual Report on Form 10-K for the fiscal year ended August 31, 2024, filed on November 21, 2024.14RESULTS OF OPERATIONS FOR THE THREE MONTHS ENDED NOVEMBER 30, 2024 AND 2023RevenueTotal revenue for the three months ended November 30, 2024 was $1,226,757 compared to the revenue of $1,154,802 for the three months ended November 30, 2023, an increase of 6.23% period over period.  After adjusting for foreign exchange rates, the Company's revenue for the three-month period grew by 6.0%.The increase in revenue was driven by growing international distributions from existing customers. Throughout the prior fiscal year, the Company introduced easy to select international distribution lists by genre of music. With growing investments in recipient activity in multiple jurisdictions, the Company grew average revenue per sale by providing greater distribution channels. This increase accounted for approximately half of the growth in the first quarter. The remaining revenue growth is split between a growing customer base in well-established markets and progress in the Company's emerging markets.Gross MarginGross margin for the three months ended November 30, 2024 was 87.3% of revenue, compared to 85.8%