Company: DSNY
Filing Date: 2025-04-14
Form Type: 10-Q
Source: 0001062993-25-007398
Chunk: 54

Company: DESTINY MEDIA TECHNOLOGIES INC
Filing Date: 2025-04-14
Form: 10-Q
Item: Part I, Item 1
Chunk 54
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 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 development

Destiny 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.

14

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

  Three Months Ended      February 28, 2025  February 29, 2024  Change Service revenue$1,018,972 $986,338 $32,634 Cost of revenue 149,287  135,346  13,941 Gross margin 869,685  850,992  18,693 Operating expenses 1,178,272  996,465  181,807 Income from operations (308,587) (145,473) (163,114)Other income 6,493  15,461  (8,968)Net income $(302,094)$(130,012)$(172,082)

Revenue

Total revenue for the three months ended February 28, 2025 was $1,018,972 compared to the revenue of $986,338 for the three months ended February 29, 2024, an increase of 3.3% period over period.  Total revenue for the six months ended February 28, 2025 was $2,245,729 compared to the revenue of $2,141,140 for the six months ended February 29, 2024, an increase of 4.9% period over period.  Revenue from MTR™ continues to grow throughout the year and the quarter and management expects to continue to build on this service with features to accommodate larger use clients later in the fiscal year.

Gross Margin

Gross margin for the three months ended February 28, 2025 was 85.3