Vertiqal Studios reports strong first quarter 2024 results with revenue growth and cost reductions

Toronto, Ontario — (Newsfile Corp. – May 15, 2024) – Gamelancer Media Corp. (TSX: VRTS) (OTCQB: GAMGF) (FSE: P93) (dba Vertiqal Studios) (the “Company”) – Vertiqal Studios , a leading digital channel network and video production studio, is pleased to announce strong financial results for the first quarter of 2024. The company achieved significant revenue growth and cost reductions, leading to a significant reduction in EBITDA losses. Comparison with Q1 2023.

The following is a summary of our financial results for the three months ended March 31, 2024 compared to the three months ended March 31, 2023.

Financial highlights for Q1 2024:

• Revenue composition and growth rate: Vertiqal Studios reported a 17% increase in revenue compared to Q1 2023. Its programmatic delivery of content contributed 73% of total revenue, underscoring the company's continued dominance in its revenue mix. In addition, revenue from direct media has also increased visibly and now accounts for 28% of total revenue.

• Cost reduction: The company was able to reduce cost of goods sold by 65% ​​by strategically reducing human resources, paid media spend, and revenue sharing with Snapchat partners. This optimization resulted in an impressive margin of 78% in the quarter, compared to 25% in the year-ago period. Specific highlights include Snapchat margins of 75% and Direct Media margins of 85%.

• EBITDA improvement: Vertiqal Studios dramatically improved EBITDA, reporting a loss of $194,000 for the quarter. This was a significant improvement from his $1.2 million loss in the first quarter of 2023. This improvement reflects effective management and operational efficiencies implemented across the company.

Operations and strategic development:

• Reduce operating expenses: General, administrative and advertising expenses were reduced by a total of 41%, consistent with the company's efforts to streamline operations and improve profitability.

• Strategic priorities and KPIs: The company continues to focus on strengthening its revenue team and optimizing its operations by implementing an enhanced data strategy and internal controls. Vertiqal Studios is committed to making the most of every opportunity, maintaining high profit margins and improving operational efficiency.

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“Our first quarter results reflect our strategic focus on high-margin opportunities and operational efficiencies,” said Jon Dwyer, Chairman and CEO of Vertiqal Studios. With this, Vertiqal Studios is well-positioned for sustained, scalable growth and profitability.” . ”

About Vertical Studio

Vertiqal Studios is a leading digital channel network and video production studio specializing in the creation and distribution of viral videos. Vertiqal produces over 100 videos daily across 138 owned and operated channels, and leveraging TV economics, he monetizes content on platforms like TikTok and Instagram, and distributes revenue on platforms like Snapchat. doing. The company focuses on creating and broadcasting performative, organic content to an audience of over 52 million followers and subscribers, generating over 2 billion video views per month. Vertiqal is positioned as a leading player in scalable marketing concepts for complete production and production with brands, agencies and creators. Distribution of brand campaigns on major social platforms.

For more information or to join our email subscriber list to receive press releases and newsletters directly, please visit https://vertiqalstudios.com/.

For media inquiries, please contact us below.

John Dwyer
Chairman and CEO

+1 (416) 627-8868;
Email: jon@vertiqalstudios.com;
Investor information email: ir@vertiqalstudios.com

Forward-looking information

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. Forward-looking statements and information are based on certain material expectations and assumptions of the Company's management. Although the Company's management believes that the expectations and assumptions underlying such forward-looking statements and information are reasonable, no assurance can be given that forward-looking statements and information will be reliably proven. As such, you should not place undue reliance on forward-looking statements and information. Be right.

Forward-looking statements and information are provided for the purpose of providing information regarding the Company's management's current expectations and plans regarding the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Forward-looking statements and information address future events and conditions and, by their nature, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on forward-looking statements or information contained in this news release.

The forward-looking statements and information contained in this news release are made as of the date of this news release and the forward-looking statements and information contained in this news release are made as of the date of this news release and are subject to change, whether as a result of new information, future events or otherwise. We have no obligation to publicly update or revise it. except as required by applicable securities laws. Any forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/209413.