LPTV - Loop Media guides Q3 revenue below consensus

2023-06-02 07:26:10 ET

• Loop Media ( NYSE: LPTV ) expects Q3 total revenue of ~$5.4M to $5.6M vs $8.25M consensus (1 analyst), cost of revenue of ~$3.5M to $3.8M and operating loss of approximately $(7.6)M to $(7.9)M.
• The Company expects 20% Y/Y decline in underlying SG&A expenses costs. Gross margin is expected to be ~30% to 33% for the quarter ending June 30, 2023.
• The macro headwinds continue to impact the overall digital ad spend due in part to general industry pressures and continued uncertainty about a potential recession.
• The company has previously disclosed a planned reduction in spending and costs and has started to implement certain of those reductions in the first two months of the third quarter ending June 30, 2023.
• Source: Press Release

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