Schedule of Company’s Single Operating Segment |
The following presents selected financial
information with respect to the Company’s single operating segment:
| |
Three months ended
June 30 | | |
Six months ended
June 30 | |
| |
2025 | | |
2024 | | |
2025 | | |
2024 | |
| |
| | |
| | |
| | |
| |
Revenues | |
$ | 25,084,631 | | |
$ | 22,469,543 | | |
$ | 48,791,421 | | |
$ | 40,202,999 | |
| |
| | | |
| | | |
| | | |
| | |
Expenses | |
| | | |
| | | |
| | | |
| | |
Programming and content | |
$ | 21,072,162 | | |
$ | 31,159,781 | | |
$ | 45,824,816 | | |
$ | 58,865,508 | |
Other cost of services | |
| 5,470,145 | | |
| 4,532,352 | | |
| 10,753,665 | | |
| 8,654,979 | |
General and administrative | |
| 11,666,331 | | |
| 10,415,016 | | |
| 28,300,054 | | |
| 19,737,395 | |
Research and development | |
| 4,825,884 | | |
| 5,319,230 | | |
| 9,614,995 | | |
| 9,847,022 | |
Sales and marketing | |
| 7,891,526 | | |
| 6,274,749 | | |
| 11,530,452 | | |
| 9,571,491 | |
Acquisition-related transaction costs | |
| 2,388,105 | | |
| - | | |
| 2,388,105 | | |
| - | |
Amortization and depreciation | |
| 3,602,160 | | |
| 3,564,219 | | |
| 6,894,869 | | |
| 5,990,361 | |
Changes in fair value of digital assets | |
| (5,192,441 | ) | |
| - | | |
| (3,493,025 | ) | |
| - | |
Changes in fair value of contingent consideration | |
| - | | |
| 17,768 | | |
| - | | |
| 1,354,357 | |
| |
| | | |
| | | |
| | | |
| | |
Total expenses | |
| 51,723,872 | | |
| 61,283,115 | | |
| 111,813,931 | | |
| 114,021,113 | |
| |
| | | |
| | | |
| | | |
| | |
Loss from operations | |
| (26,639,241 | ) | |
| (38,813,572 | ) | |
| (63,022,510 | ) | |
| (73,818,114 | ) |
Interest income | |
| 2,898,945 | | |
| 2,174,166 | | |
| 5,083,231 | | |
| 4,696,118 | |
Other expense | |
| (22,773 | ) | |
| (3,869 | ) | |
| (47,377 | ) | |
| (73,577 | ) |
Changes in fair value of derivative | |
| - | | |
| - | | |
| 9,700,000 | | |
| - | |
Changes in fair value of warrant liability | |
| (6,461,861 | ) | |
| 10,014,200 | | |
| 15,442,843 | | |
| (723,695 | ) |
| |
| | | |
| | | |
| | | |
| | |
Loss before income taxes | |
| (30,224,930 | ) | |
| (26,629,075 | ) | |
| (32,843,813 | ) | |
| (69,919,268 | ) |
Income tax expense | |
| - | | |
| (151,625 | ) | |
| (31,310 | ) | |
| (151,472 | ) |
| |
| | | |
| | | |
| | | |
| | |
Net loss | |
$ | (30,224,930 | ) | |
$ | (26,780,700 | ) | |
$ | (32,875,123 | ) | |
$ | (70,070,740 | ) |
|
Schedule of Revenue by Geographic Region |
The following presents revenue by geographic
region:
| |
Three months ended | | |
Six months ended | |
| |
June 30 | | |
June 30 | |
| |
2025 | | |
2024 | | |
2025 | | |
2024 | |
| |
| | |
| | |
| | |
| |
United States | |
$ | 22,039,133 | | |
$ | 20,850,168 | | |
$ | 44,305,508 | | |
$ | 37,808,444 | |
Canada | |
| 346,063 | | |
| 939,213 | | |
| 764,638 | | |
| 1,121,494 | |
Other | |
| 2,699,435 | | |
| 680,162 | | |
| 3,721,275 | | |
| 1,273,061 | |
| |
| | | |
| | | |
| | | |
| | |
| |
$ | 25,084,631 | | |
$ | 22,469,543 | | |
$ | 48,791,421 | | |
$ | 40,202,999 | |
|