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Dolphin Announces Record Q2 Revenue of $14.1 Million, up 23% YoY; Deepens Investment in Women's Sports and Affiliate Marketing

CEO believes Dolphin is undervalued, purchases approximately 1% of outstanding shares since April 2025

MIAMI, FL / / August 13, 2025 / (NASDAQ:DLPN), a leading entertainment marketing and content production company, today announced its financial results for the second quarter ended June 30, 2025.

Bill O'Dowd, CEO of Dolphin, commented:

"Dolphin's Q2 results highlight the strong performance of our subsidiaries and our disciplined focus on driving profitable growth. With a 23% year-over-year revenue, we believe that we have exceeded expectations and delivered robust financial results.

We achieved this even while strategically investing in future growth engines like Women's Sports and Affiliate Marketing, initiatives poised to deliver long-term benefits and profits as the initial investment phase tapers off next year. Furthermore, these results were fueled solely by the strength of our subsidiary portfolio, without benefitting from the contributions of ventures or productions, such as the impact of 2024's Blue Angels.

As the investment phase of Always Alpha and Affiliate Marketing reduce next year, legacy real estate commitments expire in the next two years, and our bank loans are repaid in the next three years, we believe we see a clear path to continued adjusted operating income margin growth ahead.

Beyond this core trajectory, we believe our films, such as Youngblood, and our venture portfolio, including Staple Gin, offer additional optionality, especially when comparing potential upside in success against our current market capitalization.

My continued personal investment, including the purchase since just April of an additional 1% of all common stock outstanding, underscores my confidence in the exceptional value we are building for shareholders."

Q2 2025 and Recent Highlights

Total revenue for the quarter ended June 30, 2025, was $14.1 million, an increase of 23% from $11.4 million in the same period last year.

Operating loss was $57,000 for the quarter ended June 30, 2025, compared to an operating loss of $1.1 million for the quarter ended June 30, 2024.

Adjusted operating income was approximately $0.6 million for the quarter ended June 30, 2025, as compared to an adjusted operating loss of $0.1 million for the same period in 2024.

Operating expenses for Q2 2025 were $14.1 million, including depreciation and amortization of $0.6 million and non-recurring or non-cash expenses of approximately $0.1 million. This compares to operating expenses of $12.6 million in Q2 2024, including depreciation and amortization of $0.6 million, and non-recurring or non-cash expenses of $0.4 million.

Net loss for Q2 2025 was $1.4 million, including depreciation and amortization of $0.6 million and non-recurring or non-cash expenses of $0.9 million. This compares to a net loss of $1.6 million for Q2 2024, including depreciation and amortization of $0.6 million and non-recurring or non-cash expenses of $0.4 million.

Net loss per share was $0.13 per share based on 11,168,572 weighted average shares for basic loss per share and 11,232,511 weighted average shares for diluted loss per share for the three months ended June 30, 2026. Net loss was $0.33 and $0.34 per share based on 11,166,596 and 11,230,535 respectively, weighted average shares outstanding for basic and fully diluted loss per share for the six months ended June 30, 2025.

Dolphin

• CEO Bill O'Dowd started 10b5-1 stock purchase plan in April 2025, building on $100,000 in common stock purchases in 2H 2024.

  • Through the 10b5-1 plan and other purchases, Dolphin's CEO has purchased over 1% of outstanding shares since April 2025

• Secured a company-wide partnership with The Lumistella Company, leveraging its full consortium of best-in-class agencies to deliver integrated marketing, media, and brand strategy for the Elf on the Shelf庐 Santaverse鈩� and new IP expansions.

• Participated in Maxim Group's 2025 Virtual Tech Conference

• Presented at the LD Micro Investor Conference in New York City

• CEO Bill O'Dowd was Featured on CEO.com Podcast: from Bedroom Startup to Media Powerhouse

42West

• At San Diego Comic-Con 2025, showcased leadership in fan-focused PR with campaigns for top talent and brands, including Amazon Studios, Funko, and Crunchyroll, while celebrating major anniversaries like Godzilla's 70th and The Elf on the Shelf's 20th, delivering global reach through panels, activations, and influencer partnerships.

• Secured 15 nominations for clients at the 77th Primetime Emmy Awards

• Selected as lead agency for The Lumistella Company's global communications strategy, driving PR and marketing efforts to elevate The Elf on the Shelf庐 Santaverse鈩� and its executive leadership across platforms.

• Supported multiple exciting new projects at the 2025 Tribeca Festival

• At the Met Gala, 42West client Christian Siriano dressed a striking trio: four-time Grammy winner Lizzo, four-time Grammy nominee Bebe Rexha, and Tony Award winner Alex Newell, all wearing custom Siriano creations that captured the spirit and spectacle of the night.

The Door

• The Door and The Digital Dept. launch Dolphin Tastemakers, representing top talent like Rachael Ray, Josh Scherer, and Jeanine Donofrio, to build impactful, multidimensional brands by combining talent management with earned media.

• At the Met Gala, The Door Client, Bebe Rexha, also used the spotlight to showcase her sparkling wine brand, Provocativo Cava, while longtime client Gigi Hadid once again cemented her status as a fashion icon, captivating the carpet in a look that balanced timeless beauty with bold edge.

• DISRPT Agency, a Division of The Door, Rolled Out 2025 Client Roster, including CultureCon and adidas Originals on its Edison Chen and Bad Bunny collaborative collections, reinforcing Its Position at the Forefront of Cultural Influence.

• At Cannes, during a headline event exploring the future of creative collaboration, Cannes juror and Kitchen Table founder Gabrielle Shirdan-one of several visionary clients represented by DISRPT-joined forces with actress and singer Issa Rae. Together, they tackled critical topics-from building consumer trust in the age of AI to sustaining purpose-led partnerships in an increasingly automated world.

Shore Fire Media

• Named PR agency of record for the Miles Davis Estate ahead of 2026 Centennial

• Selected to support a diverse roster of high-profile music festivals and concert series this summer, including Summerfest in Milwaukee featuring The Lumineers, Megan Thee Stallion, and Def Leppard; Montreux Jazz Festival Miami headlined by Jon Batiste, Chaka Khan, and Janelle Mon谩e; Biscuits & Banjos with Rhiannon Giddens; Hudson River Music Festival; CBGB Festival in Brooklyn showcasing punk legends Iggy Pop and Jack White; and exclusive Wells Fargo cardholder concerts featuring The Killers and Lionel Richie.

• At CMA Fest 2025, Shore Fire Media clients were prominently featured, with artists like Justin Moore, Brett Young, Tyler Hubbard, Priscilla Block, Warren Zeiders, John Crist, and The War And Treaty delivering standout performances, fan-facing events, and national media appearances. Additional clients including Brooklyn Bowl, Folds of Honor of Tennessee, and Wasserman Music hosted their own high-profile activations-highlighting Shore Fire's broad presence across music, comedy, culture, and philanthropy at the festival

• Chosen to spearhead the strategic media campaign for The Rise of Nicholas the Noble, a new children's book from The Lumistella Company that reimagined Santa Claus's origin story.

• Longtime client Cyndi Lauper was selected for the Rock & Roll Hall of Fame.

Elle

• Serviced over two dozen clients across Lifestyle and Impact divisions

The Digital Dept.

• Partnered with The Door to debut Dolphin Tastemakers, empowering icons and digital-first creators alike, including Jessica Bui, The Orange Home, and Half Baked Harvest, with a first-of-its-kind model that combines talent management and PR services.

• At CMA Fest 2025, The Digital Dept.'s BRANDEdit experience debuted in Nashville with a two-day beauty, style, and wellness pop-up in partnership with MaryRuth's Organics. The curated event brought together leading consumer brands with top talent and influencers like Lauren Lane, Jana Kramer, Victoria Fuller, and Daisy Kent, offering immersive activations and premium content creation during the weeklong celebration.

• Hosted Highest-Grossing BRANDEdit Influencer Experience to Date in Los Angeles.

Special Projects

• Secured Star-Studded Lineup for 2025 Academy Museum Gala: Special Projects confirmed honorees Bruce Springsteen (receiving the inaugural Legacy Award), Pen茅lope Cruz, Walter Salles, and Bowen Yang for the October 18 event, which supports museum programs and exhibitions. Springsteen, a Shore Fire Media client, will also perform live.

• Managed booking for The Peabody Awards 2025 ceremony, securing notable talent including host Roy Wood, Jr.; presenters Jon Hamm, Amy Poehler, Fred Armisen, Molly Shannon, Mandy Moore, Anna Kendrick, Uzo Aduba, Randall Park, and Marissa Bode; performers like Lee Fields; and honorees "Saturday Night Live" and Andrea Mitchell, showcasing their expertise in assembling high-profile talent for prestigious events

• Curated celebrity and cultural influencer attendance for Max, Warner Bros., and Louis Vuitton launches, driving cultural impact and elevating brand visibility.

Always Alpha

• Malea Hotson and Tracy Hughes joined Always Alpha, bringing decades of expertise in talent management, branding, and partnerships. Hotson, is a seasoned professional with experience managing Visa's Olympics account and working with organizations like 160over90, Octagon, and the PGA Tour. Hughes, a former Vice President of The Collective at Wasserman, who championed initiatives elevating women athletes and reshaping industry narratives, brings her experience in Brand Marketing at Nike Basketball, Account Management at the WNBA, and Marketing for College/Olympic Sports to the Always Alpha team. Their leadership will further drive innovation and growth in women's sports management, solidifying Always Alpha's position at the forefront of the industry.

• At Cannes Lions 2025, Always Alpha made a standout impact by hosting high-profile events and panels focused on elevating women's sports. Co-founders Allyson Felix, Wes Felix, and Cosette Chaput led key conversations on investment and ownership, while Olympic gold medalist Kristen Faulkner joined industry legends to spotlight the athlete journey and brand-building power of female athletes.

Youngblood

• Dolphin announced its feature film adaptation of Youngblood, has been selected to premiere at the 2025 Toronto International Film Festival.

Conference Call Information

The Company has scheduled a webcast and conference call to discuss its second quarter 2025 results on Wednesday, August 13, 2025 at 4:30 p.m. Eastern Time. To participate in this event, dial in approximately 5 to 10 minutes before the beginning of the call.

Toll Free: 888-506-0062
International: 973-528-0011
Participant Access Code: 859698
Webcast:

Replay

Toll Free: 877-481-4010
International: 919-882-2331
Replay Passcode: 52792
Webcast Replay:

ABOUT DOLPHIN

Dolphin (NASDAQ:DLPN) was founded in 1996 by Bill O'Dowd and has evolved from its origins as an Emmy-nominated television, digital and feature film content producer to a company with three dynamic divisions: Dolphin Entertainment, Dolphin Marketing and Dolphin Ventures.

Dolphin Entertainment: This legacy division, where it all began, has a rich history of producing acclaimed television shows, digital content and feature films. With high-profile partners like IMAX and notable projects including The Blue Angels, Dolphin Entertainment continues to set the standard in quality storytelling and innovative content creation.

Dolphin Marketing: Established in 2017, the Marketing division, which was just named by , is a powerhouse in public relations, influencer marketing, branding strategy, talent booking and special events. Comprising top-tier companies such as 42West, The Door, Shore Fire Media, Elle Communications, Special Projects, The Digital Dept., and Always Alpha, Dolphin Marketing serves a wide range of industries - from entertainment, music and sports to hospitality, fashion and consumer products.

Dolphin Ventures: This division leverages Dolphin's best-in-class cross-marketing acumen and business development relationships to create, launch and/or accelerate innovative ideas and promising products, events and content in our areas of expertise.

This press release contains 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act. These forward-looking statements may address, among other things, Dolphin Entertainment Inc.'s offering of common stock as well as expected financial and operational results and the related assumptions underlying its expected results. These forward-looking statements are distinguished by the use of words such as "will," "would," "anticipate," "expect," "believe," "designed," "plan," or "intend," the negative of these terms, and similar references to future periods. These views involve risks and uncertainties that are difficult to predict and, accordingly, Dolphin Entertainment's actual results may differ materially from the results discussed in its forward-looking statements. Dolphin Entertainment's forward-looking statements contained herein speak only as of the date of this press release. Factors or events Dolphin Entertainment cannot predict, including those described in the risk factors contained in its filings with the Securities and Exchange Commission, may cause its actual results to differ from those expressed in forward-looking statements. Although Dolphin Entertainment believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be achieved, and Dolphin Entertainment undertakes no obligation to update publicly any forward-looking statements as a result of new information, future events, or otherwise, except as required by applicable law.

Contact Information

James Carbonara
Partner, Hayden IR
[email protected]
646-755-7412

DOLPHIN ENTERTAINMENT, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)

DOLPHIN ENTERTAINMENT, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited)

Reconciliation of GAAP loss from operations to non-GAAP income from operations

SOURCE: Dolphin Entertainment