WildBrain (OTC:WLDBF) Press Release: Q2 GAAP EPS of C$0.02.
Revenues of 126.3 million Canadian dollars (-10.1% y/y).
Adjusted EBITDA was C$25.2 million, compared to C$26.0 million in the prior-year period.
Cash provided in operating activities was C$35.0 million, compared to cash provided operating activities of C$63.1 million in the second quarter of 2023.
Free Cash Flow was C$5.4 million, compared to C$26.4 million in Q2 2023.
Target leverage below 4x by the end of fiscal 2024.
View: “We have adjusted our outlook for fiscal 2024. We now expect revenue to decline approximately 8% to 12% year over year and adjusted EBITDA to decline approximately 5% to 10% year over year. The adjustment to our outlook is driven by continued reductions in production at our content studios, but we are confident in our content production outlook for fiscal 2025 and 2026, with more than 60% and 50% of our pipeline respectively approved”.