{"id":3855,"date":"2020-11-30T14:05:13","date_gmt":"2020-11-30T14:05:13","guid":{"rendered":"https:\/\/thunderbird.tv\/?p=3855"},"modified":"2021-03-17T13:44:35","modified_gmt":"2021-03-17T13:44:35","slug":"thunderbird-entertainment-group-reports-on-first-quarter-fiscal-year-2021-results","status":"publish","type":"post","link":"https:\/\/thunderbird.tv\/2020\/11\/30\/thunderbird-entertainment-group-reports-on-first-quarter-fiscal-year-2021-results\/","title":{"rendered":"First Quarter Fiscal Year 2021 Results"},"content":{"rendered":"<p style=\"text-align: center;\"><em><strong>Q1 2021 Revenue $19.8 million, an increase of\u00a020% year over year<\/strong><\/em><\/p>\n<p style=\"text-align: center;\"><em><strong>Adjusted EBITDA $4.8 million, an increase of\u00a032% year over year<\/strong><\/em><\/p>\n<p style=\"text-align: center;\"><em><strong>Company cash position at September 30 2020 $14.2 million<\/strong><\/em><\/p>\n<p style=\"text-align: center;\"><em><strong>25 programs in production in Q1, with 10 being owned- or partnered-IP\u00a0<\/strong><\/em><\/p>\n<p style=\"text-align: center;\"><em><strong>Conference call and webcast scheduled for December 1 at\u00a011 a.m. PT\/ 2 p.m. ET<\/strong><\/em><\/p>\n<p>&nbsp;<\/p>\n<p><strong>Vancouver, Canada, November 30, 2020\u00a0<\/strong>\u2014 Thunderbird Entertainment Group Inc. (<strong>TSXV:TBRD, OTCQX &#8211; THBRF<\/strong>) (<strong>Thunderbird<\/strong> or the\u00a0<strong>Company<\/strong>), today announced its financial results for the first quarter ended September 30, 2020 (\u201cFiscal 2021\u201d), and provided a corporate update.<\/p>\n<p><strong>Financial Highlights<\/strong><\/p>\n<ul>\n<li>The Company recognized revenue of $19.8 million in the first three months of fiscal 2021, an increase of 20% over the comparative quarter.<\/li>\n<li>Adjusted EBITDA was $4.8 million for the three months ended September 30, 2020, an increase of $1.2 million over the comparative period in fiscal 2020. This increase was primarily due to growth in production services attributed to the kids and family division.<\/li>\n<li>Production services revenue for the three months ended September 30, 2020 increased by 41%. Licensing and distribution revenues decreased slightly over the comparative period last year, where the Company delivered three episodes of <em>The Last Kids on Earth<\/em>.<\/li>\n<li>Free cash flow was $1.2 million as compared to $4 million in the comparative quarter, a decrease of $2.8 million, which represents the significant investment in content of $3.6 million during the quarter, the benefits of which will be realized over the next two fiscal years.<\/li>\n<\/ul>\n<p>\u201cThunderbird was right on track in Q1 with 25 shows in various stages of production, an increase from 21 shows at this time last year. During the quarter, we were thrilled to be launching\u00a0new partnerships\u00a0and hiring additional talent to meet the heightened demand for premium content,\u201d said Jennifer Twiner McCarron, CEO, Thunderbird. &#8220;Looking forward, we have visibility well into Fiscal 2022, and\u00a0are perfectly positioned\u00a0to keep delivering\u00a0and executing on Thunderbird\u2019s strategic and financial objectives.\u201d<\/p>\n<p><strong>Thunderbird\u2019s Q1 2021 Corporate Highlights <\/strong><\/p>\n<ul>\n<li>During the first quarter, Thunderbird had 25 programs in various stages of production, and deals with Netflix, Peacock, Nickelodeon, AppleTV+, Sony, PBS, Bell Media&#8217;s Discovery, Disney+, Corus Entertainment and the CBC, among others. Ten of these productions are Company IP or partner-managed.<\/li>\n<li>27 half-hour episodes and 12 one-hour episodes were delivered collectively from the factual, scripted, and kids and family divisions. All of the one-hour episodes were Company owned-IP.<\/li>\n<li>The Factual Division, Great Pacific Media (GPM), was in production on four series and one documentary special:\u00a0<em>Highway Thru Hell<\/em>\u00a0(Seasons 9 and 10),\u00a0<em>Heavy Rescue: 401\u00a0<\/em>(Seasons 5 and 6),\u00a0<em>$ave My Reno<\/em> (Season 4),<em>\u00a0Mud Mountain Haulers<\/em> (Season 1) and<em>\u00a0The Teenager and the Lost Mayan City<\/em> (Documentary for CBC). Subsequent to the quarter, GPM announced two new productions in development: hit Webby Award-winning social media brand\u00a0<em>What If\u00a0and <\/em>a drama series based on the life of Wernher von Braun<em>.<\/em><\/li>\n<li>Production began on the fifth season of <em>Kim\u2019s Convenience. Kim\u2019s Convenience<\/em> was also renewed for season six.<\/li>\n<li>The Kids and Family Division, Atomic Cartoons, was in various stages of\u00a0production on 19 animated series, with 12 major clients, four of which are new relationships.\u00a0 Productions include co-producing<em> Mighty Express <\/em>with Spin Master for Netflix<em>, LEGO Star Wars Holiday Special <\/em>for Disney+,<em> Molly of Denali<\/em> for GBH\/ PBS KIDS and CBC and<em> LEGO Jurassic World: The <\/em><em>Secret Exhibit <\/em>for NBCUniversal<em>.<\/em><\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-3856\" src=\"https:\/\/thunderbird.tv\/wp-content\/uploads\/2021\/01\/website-11.30.2020.jpg\" alt=\"\" width=\"629\" height=\"533\" srcset=\"https:\/\/thunderbird.tv\/wp-content\/uploads\/2021\/01\/website-11.30.2020.jpg 629w, https:\/\/thunderbird.tv\/wp-content\/uploads\/2021\/01\/website-11.30.2020-300x254.jpg 300w, https:\/\/thunderbird.tv\/wp-content\/uploads\/2021\/01\/website-11.30.2020-48x41.jpg 48w\" sizes=\"(max-width: 629px) 100vw, 629px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-3857\" src=\"https:\/\/thunderbird.tv\/wp-content\/uploads\/2021\/01\/website-11.30.2020.2.jpg\" alt=\"\" width=\"630\" height=\"703\" srcset=\"https:\/\/thunderbird.tv\/wp-content\/uploads\/2021\/01\/website-11.30.2020.2.jpg 630w, https:\/\/thunderbird.tv\/wp-content\/uploads\/2021\/01\/website-11.30.2020.2-269x300.jpg 269w, https:\/\/thunderbird.tv\/wp-content\/uploads\/2021\/01\/website-11.30.2020.2-43x48.jpg 43w\" sizes=\"(max-width: 630px) 100vw, 630px\" \/><\/p>\n<p>The Company also announced the issuance of 55,698 common shares to Jennifer Twiner-McCarron at a deemed price of $2.045 per share. \u00a0 \u00a0The issuance reflects partial consideration for a performance bonus earned during the fiscal year ended June 30, 2020,\u00a0in accordance with the terms of Ms. Twiner McCarron\u2019s employment agreement.<\/p>\n<p><strong>Conference Call Webcast on December 1, 2020 at 11 a.m. PT\/ 2 p.m. ET<\/strong><\/p>\n<p>Thunderbird will hold a conference call and webcast to share the Company\u2019s Q1 financial results on\u00a0December 1, 2020 at 11 a.m. PT\/ 2 p.m. ET. The conference call will be webcast live and available for replay via the \u201cInvestors\u201d section of the Thunderbird <a href=\"https:\/\/thunderbird.tv\/events-and-presentations\/\">website<\/a>.<\/p>\n<p><strong>Conference Call and Webcast Access<\/strong>:<br \/>\nToll-free dial-in number: (833) 900-1530<br \/>\nInternational dial-in number: (236) 712-2271<br \/>\nWebcast: <a href=\"https:\/\/event.on24.com\/wcc\/r\/2810590\/9A04DF48010CAE770F292F91A988C2FA\">https:\/\/event.on24.com\/wcc\/r\/2810590\/9A04DF48010CAE770F292F91A988C2FA<\/a><br \/>\nConference ID: 8399875<\/p>\n<p>Participants joining by phone are requested to call the conference line ten minutes early to avoid wait times while connecting to the call. Investors can access a replay of the teleconference at: (+1) 416-621-4642 or\u00a0toll-free at\u00a0(+1) 800-585-8367 three hours after the call&#8217;s completion. The Conference ID # is 8399875. The teleconference replay will be available through December 15, 2020.<\/p>\n<p>For information on Thunderbird and to subscribe to the Company\u2019s investor list for news updates, go to <a href=\"http:\/\/www.thunderbird.tv\">www.thunderbird.tv<\/a>.<\/p>\n<p>On Behalf of Thunderbird Entertainment Group Inc.<\/p>\n<p><em>Jennifer Twiner McCarron<\/em><br \/>\nChief Executive Officer<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Q1 2021 Revenue $19.8 million, an increase of\u00a020% year over year Adjusted EBITDA $4.8 million, an increase of\u00a032% year over year Company cash position at September 30 2020 $14.2 million 25 programs in production in Q1, with 10 being owned- or partnered-IP\u00a0 Conference call and webcast scheduled for December 1 at\u00a011 a.m. PT\/ 2 p.m. &hellip; <a href=\"https:\/\/thunderbird.tv\/2020\/11\/30\/thunderbird-entertainment-group-reports-on-first-quarter-fiscal-year-2021-results\/\">Continued<\/a><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1,53],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>First Quarter Fiscal Year 2021 Results - Thunderbird Entertainment<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thunderbird.tv\/2020\/11\/30\/thunderbird-entertainment-group-reports-on-first-quarter-fiscal-year-2021-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"First Quarter Fiscal Year 2021 Results - Thunderbird Entertainment\" \/>\n<meta property=\"og:description\" content=\"Q1 2021 Revenue $19.8 million, an increase of\u00a020% year over year Adjusted EBITDA $4.8 million, an increase of\u00a032% year over year Company cash position at September 30 2020 $14.2 million 25 programs in production in Q1, with 10 being owned- or partnered-IP\u00a0 Conference call and webcast scheduled for December 1 at\u00a011 a.m. PT\/ 2 p.m. &hellip; 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