Loop Media, Inc.

Good afternoon, everyone, and thank you for participating in today's conference call to discuss Loop Media's financial results for the full year 2023 and the fiscal fourth quarter ended September 30th, 2023. Joining us today are Loop's CEO, Mr. John Nierman, and the company's CFO, Mr. Neil Watanabe. By now, everyone should have access to the full year and fiscal fourth quarter 2023 earnings press release. which the company issued earlier today at approximately 4.05 p.m. Eastern Time. The release is available in the Investor Relations section of Loop's website at www.loop.tv. In addition, this call will also be available for webcast replay on the company's website. Following management remarks will open the call for your questions. Please note there are two ways to ask questions during the Q&A. One, for those on the telephone, please press star one on your telephone keypad to raise your hand. And for those on the webcast, please select ask a question in the top right corner of the screen. Enter your question and click submit. Certain comments made on this conference call and webcast are considered forward-looking statements under the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain known and unknown risks and uncertainties, as well as assumptions that would cause actual results to differ materially for those reflected in these forward-looking statements. These forward-looking statements are also subject to other risks and uncertainties that are described from time to time in the company's filings with the SEC. Do not place undue reliance on any forward-looking statements, which are being made only as the date of this call. Except if required by law, the company undertakes no obligation to revise or publicly release the results of any revision to any forward-looking statements. The company's presentation also includes certain non-GAAP financial measures, including adjusted EBITDA, As supplemental measures of performance of our business, all non-GAAP measures have been reconciled to the most directly comparable GAAP measures in accordance with SEC rules. You'll find reconciliation charts and other important information in the earnings press release and form 8K furnished to the SEC.

I would now like to turn the call over to Loop's CEO, Mr. John Nierman. Thank you, and good afternoon, everyone.

We are pleased that we can announce that we ultimately managed to achieve year-on-year growth compared to fiscal 22, but we're also happy to have fiscal 23 in the rearview mirror and a new fiscal year ahead of us. It was a very challenging year on several fronts, a significantly restricted ad market, a very difficult small microcap stock market, and lessons learned from the industry understanding of our revenue model as a CTV digital out-of-home company, which led to lower growth than we were internally anticipating a year ago, and thus the subsequent adjustment around necessary cost-cutting measures. However, as a result of these challenges, we discovered very valuable data about where we believe we should invest and focus our time and resources in order to improve performance coming out of this downturn of several quarters of stagnant growth. We believe we are stronger coming out of fiscal 23 and look to capitalize on what we believe to be improved upside and growth potential ahead of us. We see a better path ahead and recovery as we progress through Q1 in our new fiscal year and believe that FY23 represented a low point in our ad demand challenges. It appears that revenue growth has normalized as we are currently already tracking well ahead of the previous three quarters in terms of top-line revenue and reduced overall SG&A expenses. More on those results when we report in February, but we started off this new fiscal year on October 1 optimistic about the year ahead, so I'm pleased to say that we are indeed experiencing positive momentum so far in Q1. Midway through the last fiscal year, we made cuts and adjustments across several aspects of our business, achieving a plan to reduce the second half of FY23 overall SG&A costs by over 20%. Part of this reduction included eliminating some non-revenue generating headcount while continuing to invest in the expansion of our revenue and ad sales teams. Our distribution footprint increased towards the end of FY23 with the addition of 25,000 partner platform screens, bringing our total loop player and partner screens to over 79,000. In addition, our monthly video impressions viewed are estimated to be over 2 billion. We have continued to have loop players in the top 20 advertising markets, as well as focus on those venues that we have learned to be the best performers, which include bars, restaurants, universities, medical offices, spas, and several other verticals. We believe that the retail media market is expected to continue to grow and increase its share of advertising spend as several industry forecasts predict. We're also optimistic about the election year and the projected record advertising spend around that. In addition, we have several revenue supply partners that we look forward to growing within the current fiscal year. With our strong pipeline of partners, our expanding distribution network, and our commitment to efficient new customer acquisition, we are encouraged about the future, and we believe the company is well-positioned to deliver revenue growth and a stronger bottom line as the advertising market improves and our distribution footprint grows. With that, I will turn the call over to Neil to take you through our financial results. Neil?