Genius Brands CEO Provides Letter to Shareholders; Announces Three-Fold Increase in Revenue for the First Quarter of 2021
May 18 2021 - 8:06AM
Genius Brands International, Inc.
(“Genius Brands” or the
“Company”) (NASDAQ: GNUS), a global brand management
company that creates and licenses multimedia entertainment content
for children, today posted a letter to shareholders from the
Company’s Chairman & CEO, Andy Heyward, which is available in
the blog section of the Company’s website.
The Company also reports it has filed its Form
10-Q for the period ending March 31, 2021, which is available on
the Company’s website. Revenues for the first quarter
of 2021 were approximately $1.1 million compared to approximately
$335,000 for the same period last year, reflecting a year over year
increase of 218%. Results for the first quarter of 2021 included
just 2 months of revenue from the acquisition of ChizComm Ltd. and
ChizComm Beacon Media, which closed on Feb. 1st. Genius
Brands also reported $143.6 million of cash and cash equivalents
and no long-term debt as of March 31, 2021. Contributing to the
strong cash balance, the Company received $57 million from the
exercise of warrants during the first quarter of 2021; however the
company also recorded an offsetting non-cash expense of $69.1
million as a result of granting the new warrants.
Among other updates in the letter to
shareholders, Mr. Heyward reported that Stan Lee’s Superhero
Kindergarten starring Arnold Schwarzenegger has now surpassed 16
million views, exceeding an average of 3.2 million views per
episode.
About Genius Brands
InternationalGenius Brands International, Inc. (Nasdaq:
GNUS) is a leading global kids media company developing, producing,
marketing and licensing branded children’s entertainment properties
and consumer products for media and retail distribution. The
Company’s ‘content with a purpose’ portfolio includes Stan
Lee’s Superhero Kindergarten, starring Arnold Schwarzenegger, on
Kartoon Channel!; Shaq’s Garage, starring Shaquille O’Neal on
Kartoon Channel!; Rainbow Rangers on Kartoon Channel! and
Netflix; Llama Llama, starring Jennifer Garner, on Netflix;
award-winning toddler brand Baby Genius; adventure comedy STEM
series Thomas Edison's Secret Lab; and entrepreneurship
series Warren Buffett's Secret Millionaires Club. Through
licensing agreements with leading partners, characters from Genius
Brands’ IP also appear on a wide range of consumer products for the
worldwide retail marketplace. The Company’s Kartoon Channel! and
Kartoon Classroom! are available in over 100 million U.S.
television households via a broad range of distribution platforms,
including Comcast, Cox, DISH, Sling TV, Amazon
Prime, Amazon Fire, Apple TV, Apple iOS, Android TV,
Android Mobil, Google Play, Xumo, Roku, Tubi, YouTube,
KartoonChannel.com, Samsung Smart TVs and LG TVs. For additional
information, please visit www.gnusbrands.com.
MEDIA CONTACT:pr@gnusbrands.com
INVESTOR RELATIONS
CONTACT:ir@gnusbrands.com
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