Loop Media reports Q1 EPS (9c), two estimates (10c)

Reports Q1 revenue $10.2M, consensus $9.14M. Jon Niermann, CEO and Co-Founder, stated, “After three quarters of just over $5 million in revenue, we once again exceeded the $10 million quarterly revenue mark. One key note is that unlike Q1 FY23, our Q1 FY24 revenue contained no political advertising spend and was purely organic revenue from our core business. Quarter-over-quarter growth increased 79% from $5.7 million in Q4 of FY 2023 to $10.2 million in Q1 2024. In addition to the strong revenue growth, we saw the impact of our focus on lowering operating costs and network efficiency, which resulted in a significantly reduced quarterly Adjusted EBITDA loss, which decreased by 69% from $(4.8) million in Q4 2023 to $(1.5) million in Q1 2024.”