Company: DSNY
Filing Date: 2025-07-14
Form Type: 10-Q
Source: 0001062993-25-012768
Chunk: 31

Company: DESTINY MEDIA TECHNOLOGIES INC
Filing Date: 2025-07-14
Form: 10-Q
Item: Part I, Item 1
Chunk 31
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 Radar" or "Meter" https://www.plaympe.com/track/) is a digital tracking service that tracks and reports the number and times an individual track is played. MTR™ uses a proprietary algorithm to uniquely identify and match a track. The Company launched MTR™ in fourth quarter of the prior year. The Company is adding functionality for sale at scale and for users with larger data requirements that have larger repertoires of music.

Digital transmission of music has provided the music industry new opportunities to reach and target its audience. These opportunities include digital streaming providers, social media, radio broadcasting, narrowcasting, and other transmissions. Traditional terrestrial radio 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 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.

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RESULTS OF OPERATIONS FOR THE THREE MONTHS ENDED MAY 31, 2025 AND 2024

  Three Months Ended      May 31, 2025  May 31, 2024  Change Service revenue$1,133,963 $1,155,442 $(21,479)Cost of revenue 161,872  150,044  11,828 Gross margin 972,091  1,