Mr. Craig Fraser reports

BEACN ANNOUNCES FINANCIAL RESULTS FOR YEAR ENDED DECEMBER 31, 2024

Beacn Wizardry & Magic Inc.'s annual financial statements and accompanying MD&A (management's discussion and analysis) for the fiscal year ended Dec. 31, 2024, have been filed. For the year ended Dec. 31, 2024, the company achieved sales revenue of $3,466,706 (2023 -- $2,933,180) and gross profit of $1,376,066 (40 per cent) (2023 -- gross profit of $1,079,875 (37 per cent)), and incurred a net loss of $1,351,109 (2023 -- loss of $2,281,917). Revenue in the final quarter was up 26 per cent compared with the same period in the previous year, due to stronger performance through Beacn's Amazon sales channel during the holiday sales period and the addition of Beacn Studio, a 2PC dual-USB audio interface.

Further information is available from the company's financial statements for the year ended Dec. 31, 2024, under the company's profile on SEDAR+.

Beacn continues to invest in product development and plans to introduce new product in the near term. The company is also pleased with its continued growth into B2B (business-to-business) sales, and expects that an increased retailer base, its growing strategic distribution network and the introduction of additional products will lead to increased sales and profitability in the future.

"Two thousand twenty-four was an exciting year of new product releases, industry-first feature introductions, and expansion of both our retail and e-commerce business. Beacn capitalized on the introduction of Beacn Mic Stand in late 2023 and the introduction of Beacn Studio in September, 2024. Beacn Studio follows in the successful footsteps of Beacn Mic, bringing Beacn's patented signal processing algorithms and studio quality audio to XLR microphone customers. Additionally, Beacn Studio boasts revolutionary 2PC dual-USB multichannel audio communications with remote application management capability, representing yet another industry-first innovation for streamers and creators. Both products offered opportunities to introduce additional direct-to-consumer bundles across the Beacn product lineup," says Beacn chief executive officer Craig Fraser

In 2025, Beacn will continue to pursue its B2B retail and distribution strategy, increase sales and marketing initiatives, and bolster its distribution network for enhanced delivery access to consumers and B2B customers.

About Beacn Wizardry & Magic Inc.

Based in Victoria, B.C., Beacn is a consumer electronics company developing innovative audio equipment, peripherals and technology for gamers, live streamers and content creators. Beacn is committed to delivering premium products that enable everyone to produce studio-quality content. Beacn's award-winning product ecosystem includes Beacn Mic, Beacn Studio, Beacn Mix and Beacn Mix Create. Beacn is listed on the TSX Venture Exchange under the symbol BEACN.

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