- Genius Brands International Inc GNUS reported second-quarter FY22 sales growth of 843% year-on-year to $21.2 million. EPS loss was $(0.04).
- The revenue increase reflects the inclusion of WOW! and Ameba.
- The operating expenses rose 210% Y/Y to $30.7 million.
- The operating loss for the quarter totaled $(8.6) million versus a loss of $(7.6) million last year.
- The company held $105.2 million in cash and equivalents.
- GNUS inked an agreement to license the name and likeness of Stan Lee to Marvel Studios and the Walt Disney Co DIS.
- Related: Genius Brands CEO On Disney: 'There Is More Than A Chance' For More Deals After Stan Lee Agreement
- GNUS collaborated with renowned chef, restauranteur, entrepreneur, and philanthropist, Wolfgang Puck, to create an animated children's series, Wolfgang Puck's Secret Chef Academy, along with healthy food products for children.
- GNUS launched the commercial free streaming subscription service, Kartoon Channel! Kidaverse in the U.S. and expanded Kartoon Channel Worldwide.
- Also Read: How Genius Brands Stock Looks Following Stan Lee Licensing Deal
- Price Action: GNUS shares are trading higher by 19.9% at $1.21 on the last check Wednesday.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.