Dolphin Entertainment, Inc.

Good day, everyone. Welcome to the Dolphin Entertainment third quarter 2025 earnings call. At this time, all participants have been placed on a listen-only mode, and the floor will be open for questions and comments after the presentation. It is now my pleasure to turn the floor over to your host, James Carbonara, Investor Relations. The floor is yours.

Thank you, Operator. Good afternoon. Before we begin, I'd like to remind everyone that during the course of this conference call, management may make forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and beliefs and involve risks and uncertainties that could differ materially from actual results. Please refer to a cautionary text forward-looking statements contained in the earnings release published today, as well as the most recent SEC filings and reports. During the call today, management will also discuss non-GAAP financial measures, including adjusted operating income or loss. The company believes that these will provide helpful information for investors. Reconciliation to the most comparable GAAP measures are provided in the earnings release. Now I would like to turn the call over to Bill O'Dowd, Chief Executive Officer of Dolphin. Bill, please go ahead.

Thanks, James, and welcome, everyone. As usual, I'll start by reviewing key financial and operating highlights from our third quarter, and then Myrta will provide a more detailed financial overview before we open it up for Q&A. Well, this is the first quarter where we can have a true year-over-year comparison after the supergroup was finished being assembled with the acquisition of Elle on July 1st of last year. We've long talked about the benefits of cross-selling within the group. How did we do? Answer. Dolphin delivered another record-setting quarter in Q3, with revenue rising 16.7% year over year to $14.8 million, and operating income turning positive with $300,000, despite almost $600,000 of non-cash amortization expenses related to our historical acquisitions. Furthermore, the first nine months of 2025 have now surpassed the first nine months of 2024, in revenue despite the Blue Angels generating over $3.4 million in revenues in Q1 of 2024. In fact, Q3 2025, this most recent quarter, is the second highest revenue quarter in Dolphins history, behind only the Blue Angels fueled $15.2 million in Q1 of 2024. Equally important, as I just mentioned, the quarter's results were entirely organic. The same agencies delivered this outstanding year-over-year revenue and operating income growth, that same agencies that we had at this time last year. This healthy organic growth is the primary driver behind our continued margin expansion with adjusted operating income of a little more than $1 million, or 6.9% of revenue, which is up from 4.5% in just Q2. This performance reflects both the consistency and strength of our core subsidiaries and the growing scalability of our cross-selling operating model. Another point worth highlighting is how clean our financial statements have become. In Q3, the last of our warrants expired. Earlier this year, we recorded the last of our contingent consideration from our acquisitions. And thus, below the line, we're down to just one fair-valued convertible note and our interest expense. I remember investors telling me that our P&L was too complicated. In addition to simplifying our P&L with only two line items below the line, the elimination of warrants, puts, continued consideration, and virtually all fair-valued convertible notes removes the constant fluctuation, up or down, in our net income or loss from what would be expected based on our operating results. We knew this day would come, and here we are. In short, with our below-the-line expenses being reduced to effectively just our interest expense, we now show clearly the operational performance of the business. And it was obviously a fantastic quarter. That operational performance continues to be driven by the collective power of our agencies. Every Dolphin subsidiary brings something unique to the table, but together they create something far greater than the sum of their parts. This unified strength across entertainment, lifestyle, influencer, sports, and digital, and our ability to cross-sell these services and our reach across pop culture continues to be the engine of our growth. We also continue to advance our ventures and productions portfolio with a particular focus on not expanding our cost base. In Q3, our anticipated feature film, Youngblood, premiered at the Toronto International Film Festival to overflowing screening rooms, followed by a historic collaboration with the Los Angeles Kings in what we believe is the first major promotional partnership between the NHL and a feature film in over two decades. We're actively negotiating sales opportunities for Youngblood now and hope to be able to announce our selected distribution partner before the end of the calendar year, if not in just a few short weeks. Stepping back, our third quarter results represent another key milestone in Dolphin's long-term trajectory. Revenue is at record levels, margins are expanding, and our balance sheet is stronger than ever. As a longtime believer in Dolphin's vision, I've continued to invest personally, having purchased a little over 2% of our outstanding shares since just April. Furthermore, I've entered into a new 10B51 plan that extends my buying program through December of 2026. I continue to believe our stock price undervalues the company's proven performance, strategic positioning, and the significant growth still ahead. Thank you for your time and attention today. And with that, I'll turn it over to Mirtha for her deeper dive into the financials.